Life is constantly changing, forever evolving. One minute your ahead of the game and the next your behind.
This has been true in almost every industry with the rapid change in technology. Thanks to technology, things are now available with a stroke of a button. Almost anything can be bought online and delivered the same or next day, even groceries. There are mortgages that can be fully applied for and received with scanning very few docs. In fact, most, including the real estate industry, have turned to online programs like Docusign for signing contracts.
Technology has already left its mark in a big way on most industries. Surprisingly enough, it has just started slowly leaking into one HUGE industry, the residential rentals.
In the past several years I have seen a change start to occur in the real estate market place. Property management is being reinvented and consolidated, away from the mom and pop management companies. This is mostly due to large companies investing in new applications that cater to the rental market. The first apps created, focused on office space but quickly were modified and applied to residential management. This is just one more market disruption that is occurring very quickly.
Forbes had a good brief article by Colin Wiel, the Co-Founder, Chairman & CTO of MYND Property Management, “Rethinking Real Estate The Big Case For Small Residential”. The article summarized some of the changes occurring in the residential property management market. He also spoke briefly about what mom and pop management companies can do
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