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Tech Platforms

• by Peter A. Gudmundsson
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Technology is No Longer Effective When It Stands Alone By Peter A. Gudmundsson Parents of elementary age children will remember well the experience of sitting in a teacher conference and hearing that their child “plays well with others.” This early indicator of interpersonal behavior is a key predictor of later-in-life social skills that will determine career placement and success and emotional happiness with friends and family. Technology adoptions in real estate are similar. Systems and platforms that are designed to “play well with other” hardware, software, and people teams predict and predetermine successful outcomes and favorable metrics like return on investment, efficiency, and resident experience satisfaction. Hardware Most know that smart home automation devices can improve the asset performance of any real estate property. Locks, thermostats, controls, and sensors of various sorts can be networked to software in such a way to reduce costs, generate incremental revenue, and achieve better resident satisfaction. Since most real estate properties are developed, redeveloped, or refurbished in phased increments, smart devices may be sourced from different manufacturers, models, and technologies. An open API software platform should be able to work with most modern devices if properly architected. Of course, no software can make a dumb lock smart, but effective modern unified property management platforms should be backward and forward compatible with various devices. Ask questions from your vendors and make sure you are not going into a commitment to one source of locks, thermostats, or sensors for the life of the product. The lack of openness will not only restrict operating and financial flexibility, but it might also cause supply disruptions in these times of unsteady supply chains. One key element of smart device networking is using a technology that “speaks” many wireless languages. We all know the Bluetooth protocol because of our cars, ear buds, and smart phones, but there are standards like Zigbee, Z-Wave, 802, and others. Current devices and future innovations are likely to use one or more of these protocols so make sure your property management platform software “plays well” with multiple wireless technologies from disparate manufacturers. Software It is a fact of the current operating climate that most property managers and owners know that they should be thinking systemically about software platforms rather than discretely about point solutions. A point solution is a technology that solves only one isolated challenge rather than achieving the network effects of scale by integrating multiple solutions. For example, a property manager may decide on a new parking or gate entry management system to “solve” the problem of garage or parking lot access. Then, having purchased such a point solution, the property manager may discover that the access control is not synced with unit, common area, or property access. Another scenario is a maintenance management program may not interface with self-guided touring approval and access solutions. So, a potential resident may walk into a for-rent unit only to discover disheveled paint tarps and haphazard toolboxes rather than the home of their dreams. Thinking ahead is easier said than done, but with an open and dynamic property management platform that is known for its API flexibility and experience working with other solutions, you are less likely to find yourself stranded without connections to the rest of the workflow. Incidentally, API stands for application programming interface. It is code that joins and integrates different programs to work with one another. Many software vendors will claim that their APIs will connect to almost any other technology, but the savvy client will insist on the proof of experience and will test references. Sophisticated property managers will think through which vestigial point solutions should be maintained and which should be replaced. A series of tradeoffs must be navigated along a spectrum ranging from a “rip the band aid” approach (and go through the immediate but passing pain of replacing all at once with a unified property management system like BeHome247) to utilizing a “hedged” transition where some solutions are replaced, and others maintained either for a medium-term transition or indefinitely. A key criterion for selecting a unified property management platform provider will be that vendor’s ability to let you choose which systems to replace and which to retain. Of course, you must also completely seek to understand the interoperability of the vestigial point solutions with the new software. Like a fresh painting of an interior space, sometimes the newly painted rooms will make the unpainted old spaces look shabbier by comparison. So it is with technology, that you may not realize what value you were missing until you “take the plunge” with a modern replacement. People Pride is the first of the traditional seven deadly sins for a reason. Always be skeptical of a technology vendor that promises to work with every hardware or software. Unpretentiousness and intellectual curiosity are the virtues that must be evident for the best providers. Look for phrases like “that should work but let me verify” or “we did something similar for XYZ company, let’s make sure that will work for you too.” If a technology provider is willing to signal a bit of humility, take that as a good sign. That said, these deployments are increasingly common, and an experienced technology provider can be trusted if they have the experience, brand reputation, and quality personnel. Conclusion Playing well with others is more than a matter of the application of social graces. Today’s technology is no longer effective when it stands alone like a tree in an open field. The most effective deployments will integrate and operate with a diverse set of software programs, hardware items, and operating workflows. At times, you will have to adapt to a new reality, but a good technology solution will also do its best to fit to you and your unique circumstances.