CORPIQ acquires MAGEX and becomes the leader in property management technology services
Montréal, February 10, 2022 – CORPIQ is now at the top of the proptech (property technology) industry in Quebec by acquiring Magex Technologies, the largest provider of property management software in Quebec. Magex Technologies is a Sherbrooke-based company that has been active in the real estate sector for over 15 years.
At the forefront in Quebec
With the acquisition of Magex Technologies, CORPIQ is now the only entity to offer under one roof the complete range of services related to the property management cycle in digital form. By integrating CORPIQ's products with the Proprio Expert platform developed by Magex, the new product line becomes a one-stop shop adapted to the needs of both plex owners and major real estate players. Everything is there: from the marketing of a rental unit with Kangalou and ProprioMarché (photo enhancement, virtual cleaning, ”for rent” sign), the selection of tenants with ProprioLocation and ProprioEnquête, the Electronic Lease (creation and renewal), communications with tenants (automated letter templates), payments with real-time follow-up, accounting management, financial statements, maintenance and supplier management, profitability evaluation, and even collection in the event of tenant payment difficulties will eventually be integrated! These are not features that are in their infancy, they are all renowned technological components that are currently considered at the top of their respective fields.
Magex Technologies honored by the Quebec Technology Association
The arrival of Magex in the CORPIQ family is not a surprise. Last December, Magex Technologies was selected by the Association québécoise des technologies (AQT) for the title of "PME Techno de l'année", a prestigious nomination whose winners will be announced in the spring. Magex's general manager, Filipe Nunes, is very proud of this achievement. "The Magex team has succeeded in moving from a PC-based software technology to a web-based technology that allows for continuous updates, at a very low cost that defies all competition," he says. Indeed, Proprio Expert's success is due to its ease of use and reliability. "After more than 15 years in the field of property management accounting and tenant communications, we have an extremely solid product, designed by the accumulation of many years of experience in the field. While the high price of management software was a barrier for many landlords, the web version of Proprio Expert is very affordable, even for small plex landlords.
CORPIQ continues to grow
CORPIQ's General Manager, Benoit Ste-Marie, is delighted with this strategic acquisition. "For landlords, this is excellent news because they will soon have a system that will be their everyday tool for property management, and they will be able to do everything from Proprio Expert," he says. "We're working to ensure that landlords have a complete dashboard in front of them and that they can have everything they need at their fingertips," says Mr. Ste-Marie.
But that's not all, Magex has also developed a profitability evaluation software called ZoomImm which is widely used by real estate brokers in Quebec and in the United States. CORPIQ will make this tool available to Quebec landlords to help them better understand the real estate market.
The acquisition of Magex follows 4 other mergers-acquisitions made by CORPIQ in the last few years. First, it was the annexation of APAGM (an association of large landlords in Montreal), then of Locateurs Avertis (an association of landlords in Laval and the Laurentians), and of SOS locateurs (an association of landlords in Saint-Jérome), and then the acquisition of the real estate branch of Lexop (Pronotif), a certified e-mail service that replaces registered mail at a lower cost. The acquisition of Magex propels CORPIQ to the forefront of real estate technology providers in Quebec.
A non-profit organization bringing together 30,000 landlords and managers who own nearly 500,000 rental units and condos, CORPIQ is the largest association to offer services to landlords and to defend their interests, for over 40 years. It serves all regions from four offices with a total of 70 employees. Quebec landlords provide housing to 1.3 million renter households, seven out of ten of which own a duplex or triplex. Rental housing represents gross annual revenues of $10.5 billion, of which $1.6 billion is returned in municipal and school taxes.
Information and interview requests:
General Manager – Corporation des propriétaires immobiliers du Québec
Phone : 514-249-1691
Email : email@example.com