Why does property management feel like it‘s out of the 1980s? Since Yardi was founded in 1982, it’s all been incremental tweaks with hardly any innovation. Sure we got aggregator sites (like Zillow), basic online payments and maintenance request portals, but these are simple translations from paper processes to digital.
Meanwhile, eCommerce has gone from 0 to 100 real fast. Companies like Amazon and Shopify built incredible technology and leveraged big data to deliver better, cheaper, faster experiences for customers. An entrepreneur with a cool new product can sell 10 million units from her bedroom via Amazon.
A customer finds the product they need, checks out in seconds and tracks the package all the way to their doorstep. They don’t have to worry that the product has already sold out, that the seller might cheat them or that they’re getting a bad deal.
Back in the real estate world, it’s a whole lot different.
When an owner buys a rental property they have two options: find a property manager or self-manage. Let’s take a look at what that means:
Search Google, check Craigslist, ask friends for potential property manager recommendations
Vet each of their references and then try to make your best choice based on pricing (make sure you get their fee list!), reputation, experience and service. Beware that most owners churn through an average of 4 property managers before finding one they trust.
OR
Learn property marketing, take high-quality photos, write effective descriptions, answer phone calls, give tours, handle prospect screening
Setup an accounting system and learn double-entry bookkeeping
Learn Florida landlord-tenant law, Fair Housing Act, proper lead-based paint and mold disclosures
Put together a team of vetted, insured vendors: handyman, cleaner, plumber, electrician, HVAC, landscaping, pest control
Be 24/7 available for tenant requests and emergencies
Handle unpaid rent and evictions within the bounds of Florida law
Neither of these options sound good. That's why we’re building Threshold, the Amazon of property management.
You bring the house, we handle everything else.
Our aligned incentive profit-sharing model means you have 100% confidence that your maximizing your monthly cashflow. And like an Amazon seller, we’ll give you access to a real-time dashboard for full transparency over payments, expenses, maintenance, leasing activity and tenant communication. On the back-end we’re building incredible technology and harnessing big data just like Amazon to attract the best residents to your property, lower costs, increase response speed.
And we’re doing some really cool stuff on the resident side. Remember that the secret to great property management is attracting and retaining the best tenant. Let’s give them the beautiful, 21st-century experience that they expect. Here’s a sneak peak of our product roadmap:
Hotel-style booking system to find Threshold units that match your exact needs (date, size, location, amenities). And no stale listings!!
End-to-end leasing through our resident platform - touring, application, screening, lease signing, move-in, renewal, sublease). Handle everything via the app and never feel like you’ve been ghosted
Modern maintenance experience: make the request, get fast self-service options, talk to an expert and track progress. No more stalking your property manager to get the simple problem fixed.
Handy services directly via the app: renters insurance, cleaning, movers, subleasing
Leave eCommerce-style feedback on Threshold, our local team and the building - all so we can keep improving and residents can feel confident living with us
We’ve got loads to build but we’re confident in delivering a superb, 21st-century experience for owners and residents. Property management can be cutting-edge.
If you’re looking for fast, transparent property management with owner-aligned incentives in South Florida, call us at (305) 602-4857 or click below. Talk soon!
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