The Problem

Germany's residential property management market is enormous and almost entirely unconsolidated. The country has approximately 43.8 million housing units, with roughly 26 million rental units requiring ongoing operational management. More than 25,000 property management providers operate in this market, the vast majority small local administrators with limited technological infrastructure. No single company holds meaningful market share.

For the landlords at the centre of this market, particularly those managing fewer than 100 units, the operational burden is severe and growing. Tenant communication, rent tracking, repair coordination, document management and an expanding list of regulatory requirements around heating costs, energy certification and CO₂ allocation all fall to landlords who are typically managing this work manually or paying for property managers whose fees are increasingly out of step with rental economics.

The tools available to these landlords have not solved the underlying problem. Property management ERP systems digitise documentation and billing but remain built around human-operated workflows. Communication platforms improve transparency between tenants and managers, but a person still has to do the work. Even the newer wave of digitally enabled property managers remains service-heavy, meaning their ability to scale stays tightly coupled to hiring. Software has made the work more visible rather than make the work go away.

The Solution

Immoly turns property management into a proactive process rather than a reactive one. Incoming communication becomes structured cases. Deadlines are tracked and managed automatically. Documents are prepared without manual drafting. Vendor and repair processes are partially automated. All supported by a full audit trail and built-in owner approvals, so landlords retain oversight without doing the underlying work themselves.

The platform combines a landlord dashboard with an agentic interface that works through the channels landlords already use, including WhatsApp, email and voice. At its core is a growing library of Immoly Operators, all autonomous capability modules that handle specific property management workflows end-to-end, orchestrated through a multi-agent AI system built on structured workflow state machines and powered by large language models with retrieval over property documents and conversations.

The differentiation is structural rather than incremental. Most competitors in this space build software that supports human managers. Immoly is designed from the ground up to replace large parts of the operational layer itself. Because incumbent systems are built around human workflows, a genuine automation-first redesign is not something they can easily retrofit.

Why we’re excited to invest

Nick le Fevre, Director of Partnerships, Founders Factory: "There's a huge opportunity to support both landlords and tenants at the private end of Germany's rental market by bringing transparency, speed, and confidence to every party. Florian and the Immoly team have built a platform that couldn't have existed a year ago, pairing cutting-edge AI with the trust landlords need. It's an exciting opportunity, and they're building it backed by the group doing this at scale across Europe"

What Immoly Is Looking to Get From the Partnership

Florian Tonner, Founder and CEO of Immoly: "As a landlord myself, I have seen how quickly property ownership can turn from an investment into an administrative burden. Communication, deadlines, documents, repairs and regulation create costs, delays and avoidable errors that many landlords are not equipped to manage efficiently. Immoly is built to change that: helping owners manage their properties with less manual work, greater accuracy and better protection of the long-term value of their investment. With Founders Factory and Vonovia, we are building the go-to AI-native operating layer for property management.”