The ATO...

The ATO
https://www.ato.gov.au/General/Gen/Real-property-transactions-data-matching-program-protocol/
says there are a 1,000,000 records created each year with state rental bond authorities
So you could conclude the private markets is somewhere between 400K - 500k per annum and that market in my view is ripe for the services rent provides and I think real estate agents property managers should be very concerned as to the potential disruption to their business model that rent threatens.
Not only for residential but all forms of property rentals/leases.
You could argue they will do an Uber to the Real Estate Management businesses of real estate agents.
If I were an agent I would be very concerned, but given they have treated property management as a milk cow forever most are unlikely to do anything until it smacks them over the head.
As the pips start to squeak as property boom turns to dust landlords are going to get antsy with agents whom most think poorly off and look at alternatives.
In our connected age, well capitalized early movers, with data, infrastructure, and algorithms have distinct advantages and I believe in one form or another property management is going to be doing it tough and losing market share to online providers be it rent or someone else.
But at this point in time Rent has a head start