The single-family rental sector may only be 10 years old, but it is already providing key lessons for its multifamily counterparts in leads and operations.
At the 2018 Apartment Internet Marketing (AIM) Conference, panelists for the “Future Tech: Advances in Leasing and Operational Technology from Single Family Rentals” session represent pioneers in an industry sector that is barely 10 years old.
As moderator Todd Katler, CEO of Anyone Home, an Irvine, CA-based service contractor for single-family property managers at the REIT level, observed during introductions, “We all spent our entire careers in multifamily. It’s really all we knew. So at first we thought, “What did single family need to learn from multifamily? But now it’s what we’ve learned from single family that applies to multifamily.”
Each panelist including moderator Katler, has identified an industry need that could be satisfied by leveraging technology. These included
The review of best industry practices that was forced on the fledgling sector was perhaps a long time coming for the industry in general. “Nobody chooses to be in property management,” noted Brien, “you just end up here.” But when Brien found himself managing 17,000 single-family rentals in 13 markets, he realized he was running a REIT and needed a software management solution for public and institutional investors.
For the panel, the biggest a-ha moments involved scale comparisons: