Since last time around, we have had Christmas, The Winter Solstice, Hanuka, Kwanzaa, Mardi Gras and more festive holidays, but more importantly, we have hit 2019. 2018 was blatantly the year of GDPR – you still can’t go on any of the technology publications’ websites without someone’s thought leadership article about GDPR slapped across the top five posts of the day sections. And, how much of it do we truly understand? Good news though, I am not here to explain that one… You can keep reading.
It’s a new year, same me.
Customers want service, and they want it now
My big one for 2019 is really an obvious one, but one that I think has a number of touch points in the property management industry. Modernising customer service is going to become a true battlefield for the industry.
I am a believer that property management professionals have it tough. They have to look after a flat, a block of flats or even more, all the ins and outs of them and the processes within them – whilst also being at the beck and call of the most important person in the industry – the leaseholder.
Residents now though have a thousand different ways of contacting you, and it seems like the onus is on you to respond instantly. One bad comment on Facebook or a tweet that skates on the boundaries of truth can genuinely be detrimental to your business – kind of unfair right? Thankfully, tech can help. I love the personal touch, but bottom lines are tight, the political situations of the country aren’t exactly leaning towards a golden age of available cash and you have a business to run and clients to look after. So, it is unlikely you can hire a team of people to man the phones, respond to tweets and watch Netflix when you are out of the office can you?
You already go on websites for all sorts of companies and services to be confronted by “AI” in the form of chatbots or the invite to receive communications from them for the rest of humankind’s time on earth through Facebook Messenger (there is one that I keep trying to delete and am not getting anywhere, seriously, it is the worst thing – daily reminders that I am spending too much money, straight to my social media inbox…). People are already bored of these chatbots though and are spotting that they are not that actually artificially intelligent, they aren’t intelligent at all for the most part. I am going to do a roundup in the coming weeks of some of the better services you can use to streamline external communications at good value – if you have any that you love and can’t live without, do let me know.
Compliance will be back and bigger than ever
There are SO many PropTech companies out there, around 6000 globally according to the gang at (the well worth a look at) Unissu. But, how do you really define one anyway? Where do we draw the line? – I still think WhatsApp is as important to the industry as right-to-rent service providers in terms of time and money saved – so is that PropTech?
Anyway, with all those companies, we are going to see partnerships forming, and consolidation hitting hard. Now that the services are out there, the money men are circling, we are going to see some of the chaff disappear. Our industry is always changing with rules and regulations shifting – those that are compliant will be just fine and likely grow, tapping up the talent from those that aren’t. This is good, you are less likely to be sold something crap, and it should really lead to a safe market for you and your customers.
PropTech on the up in difficult times
The UK really is the epicentre of PropTech investment right now and a side prediction of mine, for all my outcries about Brexit, is that we are going to see the UK (largely, but not inclusively London) continuing to rule the roost for Global PropTech growth for 2019. After that, time will tell. But for now, I am confident that our startup ecosystem here and the growth of Prop/Fin/Insur – Techs will be a powerhouse for a bit yet.
What about me?
We have recently launched an amazing set of SmartHome devices with Den – a London based startup transforming the way we use light switches, plug sockets and all the devices that we use at home – check out the website here – www.getden.co.uk – honestly, they are very tidy.
But personally, I have some fitness goals, some renovations and decorating to do and seven weddings to attend – so this year is already set to be a busy one! Wishing you all a solid start to 2019, and if you want to know anything – and think I am going to be able to help, or want to just chat tech and gadgets and the likes, do come and find me on Twitter, email or LinkedIn.
