Dec 21, 2018
by Barret Newberry, CEO of Leasera
I recently attended the CRE Tech NY Venture Conference, billed as “CRE’s hottest event”, and it did not disappoint. My biggest takeaway was that Leasera is right where we (you) want it to be — our company has a critical and disruptive, forward-thinking approach to real estate technology and it will empower renters and property owners alike which makes for a highly differentiated business model.
CREtech, created by Michael Beckerman and held at Terminal 5 in Hell’s Kitchen, normally a NYC music venue, it was a unique location for a conference, yet it was an oddly appropriate place for this group to meet… people who embrace doing things just a little bit differently. A not-so-subtle nudge to yet another industry primed for change.
The place was packed — apparently it was largest event yet in the commercial real estate tech sector — with over 1,000 members of the PropTech investor and startup community from all over the world.
My mind was crackling with everything there was to learn from the 30+ investors speakers, from leading venture capital, landlord and brokerage, angel investor, and private equity firms. Most of them gave their take on the current state of the rapidly growing CREtech sector and discussed possible future prime investment opportunities and trends.
Besides learning from the presenters, I also embraced the opportunity to connect and compare notes with the real estate owners/investors/developers/brokers, property managers, tenants, landlords, and entrepreneurs in the room. It was enlightening and very fun.
Here’s are some of the highlights that I gleaned from the event:
Our Business Model is Ahead of the Curve — The sheer enthusiasm showed by everyone I spoke with about Leasera’s vision fired me up even more than I already am. A highlight of the event was when an exec from one of the major tech investment firms told me Leasera’s business model is “2 to 3 years ahead of the curve”. Even better that it was echoed by several others through the action packed day.
Lease-Duration is less defining — On average, people are renting for shorter periods of time but for longer. This is true in the commercial and residential sectors. As this trend continues, the advantage of having one lease a loyalty plan to cover multiple rental options is abundantly clear. As importance on duration falls, landlords and management teams are more focused on the tenant than the terms.
Good Two-Way Communication Can Yield Positive Results — If importance of lease-duration is is falling, and a tenants satisfaction is rising, then paying attention to tenants could help some navigate in a big way. Dissatisfaction with the lease terms or management systems has largely been ignored until now. Having a platform that enables and encourages residents to communicate directly with their property managers is paramount. It provides management with opportunities to address issues and create wins long before the lease expires. As we all know, residents that have a positive experience want to stay longer, and retention is essential to cutting costs.
Renters Love Online Options — Many conversations touched upon recent studies by Google and Apartments.com saying the majority of commercial and residential tenants will search for their next property on the internet. Providing unified access for searches, applications, options, contracts, maintenance, location-changes, communication, and rewards programs to this same internet-savvy consumer set is the only logical solution.
By the end of the conference, I was inspired beyond belief to continue to drive innovation and change. I’m confident technology will continue to have a profound effect on the real estate industry. It is the largest asset class in the world after all (hat tip to Brad Griewe at Fifth Wall). Creating one platform that provides tenants with increased accessibility and convenience within a single platform and empowers property managers to focus on tenant satisfaction with better service and reward programs is the best possible solution for both sides.
We have a legitimate opportunity to change the entire renter demographic forever by leading this incredible effort and serving our incredible communities.
Please like and comment if you have any questions. We look forward to serving the future of renting and travel.
How to apply:
Visit website: https://leasera.com/
LEASERA is the only accommodations leasing platform serving the renter demographic with unified benefits and options across a variety of property client partnerships. Supported by management companies, hotels, travel rentals private equity firms and real estate investment trusts as well as the community and consumers we care for. LEASERA is supported by our intelligent leasing as a service platform connecting a self-sustaining ecosystem of supportive tools and service providers. A single, connected leasing network offering clients value and loyalty and consumers with flexibility, accommodation and duration optionality and benefits for all renters.