Here’s what a rental ecosystem mean to me.
Abridged Version:
ACCESS: to the rental tools, data and services that support connection and value for key contributors.
COLLABORATION: between a closely knit system of contributors consisting of owners and operators, service professionals, and renter-consumers.
BALANCE: of voice, understanding and appreciation for contribution, enabling a flywheel affect where value is dramatically increased over time.
ALIGNMENT: of an others centered thesis. Not as a soundbite but as a business model we demand of ourselves and partners. The hospitality industry did well understanding this dynamic.
DISTRIBUTION: of opportunity, service and value lend to upward mobility that impacts each contributor, incentivizing them to higher accountability, loyalty and excellence. This is especially true for renters.
TL;DR
For any ecosystem to evolve and flourish, it must be free to work as a holistic entity. The industry must be open those willing to contribute towards efficiencies, serve a greater good should be able to do so affordably or even free. Without this alignment, there is imbalance and with imbalance, a flywheel will never fully realized.
Okay, less on the philosophical front.
Property management, historically, has been about the property. Focusing on operations across leasing, maintenance, reporting and accounting.
Property management software perpetuated this by systematizing process around property management activities. This alienated renters and service professionals alike and lends to a myopic view of net operating income, resulting in diminishing margins.
Evolution of the space has seen an inversion of focus from the property as a physical asset to the importance around the experience within and around the property. If the systems we use don’t allow proper acknowledgement of what takes place beyond the rent, well, you’re likely losing millions (dep on scale).
It’s no wonder we haven’t seen anything close to a true flywheel in the rental market yet. Too many silos, misalignment and a lack of collaboration exist. The renter that wants flowers delivered. The service professionals seeking to build their cleaning business. The manager needing help with landscaping. It’s all connected.
Walled gardens withhold data, and alienate services and consumers. Instead, let’s empower the rental market towards new beginnings. A virtuous flywheel of access and opportunity is well within our grasp. We all see it taking shape yet without everyone involved we’ll always come up short.
Thoughts:
- use services aligned with your business. Are you a fee based manager? Use transaction based systems, not per unit services that charge you regardless of outcome.
- seek out feedback loops across your consumer base. They’ll tell you how to win. Just ask.
- engage service professionals around your community. They are subject matter experts. Use them. LEASERA
LEASERA is the only rental ecosystem, offering a unified management suite equipped with an on-demand rental marketplace and loyalty program. We integrate connected travel accommodations and direct-to-door services like dog walking, food delivery and ride share to our property management clients and their consumer communities. We enable fast moving property owners and a dynamic renter demographic with benefits and options needed for today. By serving our property management companies, and property investment groups, as well as our partnerships with hotels, travel rentals, investment groups and more, LEASERA has ushered the rental market into a new era.
LEASERA offers our PMC clients added value across their long term rental portfolios with a core, SaaS free, consumer-loyalty, an intelligent leasing-as-a-service platform with an integrated marketplace of supportive tools and service providers. Consumers gain rewards and empowerment and flexibility. LEASERA is a portfolio company of Second Century Ventures, was named Plug and Play’s top 50 Proptech Innovations, CREtech’s Hot List as one of the “Top Companies to Discover in Real Estate” and as a “Leading tech site to discover” and has been dubbed years ahead of the market by industry investors, professionals and insiders.
This is a new life on leasing. Learn more at www.leasera.com
#propertymanagement #ecosystem #rentals #community
