Interesting line about American Fanily Homes 4 Rent (a REIT which runs a portfolio of X0,000 single family homes): “This business was impossible prior to being able to issue servicing employees smartphones. You couldn’t cost-effectively manage heterogenous assets across US.”
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All sorts of things: encouraging tenants to file tickets and get updates about them, automating the turnover process and sharding between contractors who take photos to substantiate that work is done to standard, email marketing for potential tenants, automate rent, etc x 500.
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I’ve been to their head operations office in Vegas. And watched a rental inquiry and maintenance call come in and be handled. It’s 60% software and 40% logistics.
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That depends strongly on whether the software people respect real estate expertise. 10€ says a real estate team is more ready to respect software and learn from it than the other way around.
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OTH the barrier to becoming a software company has never been lower and it is only getting simpler
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Also on the depth: never underestimate someone with a network of real-estate people around them who decides they’d like to try software for a change. An engineer with a big Rolodex is a powerful thing.
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