property price bubble


PHOTO: Hometime co-founders Dave Thompson and William Crock have more than quadrupled the business in just over a year. 

The growth of global accommodation marketplace Airbnb in Australia has proven a boon for local property management start-up Hometime, which credits the platform for quadrupling its revenue in 13 months.

The company, which has gone from an annual revenue run rate of $1.5 million in December 2017 to a $7 million run rate in January this year, is now readying to expand throughout the Asia-Pacific region within the next six months.

Hometime provides home owners renting out their properties on Airbnb with a management platform that tracks how much money they are making, while also handling all aspects of the hosting experience such as guest inquiries, cleaning and linen changes.