Enter the vertically integrated techstack to reduce rework and human error thereby freeing up time, resource and by extension, and the intellectual firepower our teams can bring to each asset in the context of its Asset Level Business Plan.
Some asset managers show a reluctance to deviate from their manual reporting approaches – not Ringley!
Surging real estate investment has ushered in a corresponding growth in proptech investment levels which, after a few years of relatively underwhelming performance, hit record highs in 2021 across the UK and Europe. The sector has ramped up its pursuit of the latest tech in a highly crowded marketplace, in the hope that being a first-mover will carve out a competitive edge in theirs.
The value of a moat filled with tech is most obvious to asset managers, owing to the benefits it provides in performance improvement and de-risking of assets, the latter being realised through a slicker and more efficient operational strategy, thereby reducing net-to-gross leakage.
Of the many benefits afforded by tech, data is arguably the king or queen of the land. The more we reach under the hood to optimise the customer experience, leveraging data to make more calculated decisions, the more we can safeguard against avoidable voids and losses in value.
Some asset managers show a reluctance to deviate from their manual reporting approaches – not Ringley! Residential for rent is an operational heavy product and requires a great deal of time and resource, whether that be in rent collection, deposit auditing, arrears, refunds, accounting, check-outs and more. Few if any can cope with instant modelling of the gross to net, asset register, PPM, asset tagging, fire door inspections and all that informs a corporate strategy in terms of the building fabric.
The outcome is an asset highly exposed to human error, notwithstanding the way in which manual approaches consume time, resource and by extension, brain power, which hampers the personal development of staff and the intellectual firepower they could bring to the business. It also means less time is given over to listening to and looking after those who ultimately deliver the investor’s income: renters.
Ringley has been spending the last five years developing one of the most sophisticated tech platforms on the market, PlanetRent backed by PropSafe and its AI driven accounting. Together we have automated every aspect of the operational process and connected to robotic accounting and provided unrivalled reporting systems, scheduled whenever you want.
Operations aside, many are still guilty of failing to appreciate that technology needs to be incorporated at every stage of the asset lifecycle. At the pre-construction stage that means tech-enabled site finding, financial modelling to support underwriting, local market analysis, and rent pricing, for example. The likes of project monitoring, automatic task delegation and team budget analysis are important considerations at the development stage. When future gazing, product selection in itself requires open API protocols and analysis for tech fit.
The overall objective is an investment strategy shaped by a plethora of data points delivered through tech, and those which ultimately feed into the value-add proposition.
For that to work, however, tech-enabled approaches need to be complemented by the critical faculties of humans. Intuitive tech that gives blends the high level and transactional views, enables right 1st time and frictionless journeys for residents gives teams the bandwidth to unlock their human intuition which is what really unlocks the value of that tech in question.
Performance indicators can only mean anything if they are interpreted by those with a tight grip on the nuances of the marketplace in which they sit and how they fit into the wider investment strategy, from design through to stabilisation and exit.
So if you want to talk tech: Start with Ringley.