Tenants are changing; as a landlord, are you?
The traditional property management model is dying, with both the landlord and tenant looking for a better experience, which technology can provide, industry experts have suggested.
In a conversation with Smart Property Investment as part of this month’s proptech special, Yabonza’s Mark Trowell and Heidi Guenther explain why the traditional property management service has to be replaced with a holistic management approach.
“While people see us as a property manager, we don’t see ourselves as that internally. We see ourselves as creating a balance between landlord and tenant.
“Providing what we need for the landlord in terms of asset management and providing the experience for the consumer,” Mr Trowell said.
With developing companies such as Greystar looking to build-to-rent model about providing an experience for the tenant, investors are tipped to have to up their game.
“So you’ve got a build-to-rent experience here and your investment property is sitting 100 metres down the road, a tenant is going to look at it and say I’m living there.”
“You’ve got to make your property attractive because just trying to stick a tenant in there, it’s who is going to give the experience or the tenant to make your property become more desirable.”
As part of having a better experience for tenants and landlords, Ms Guenther said a platform with everything in one place makes things easier for everyone.
“Being able to get insurance, get utilities, get yourself up in the property but also report a repair maintenance issue without having to phone the property manager – you could just log it online and get updates,” Ms Guenther said.
“It’s how people are valuing their time differently and they value experiences more. I don’t want my time spent on that, I want my time spent on this and that’s how I value my time.
“Therefore, how do we as a company help you do that? Because that’s a home and if I can do that I differentiate your property and therefore make it more desirable,” Mr Trowell concluded.