Property management can be a complex process, as it requires input from three main stakeholders, the tenant, owner and property manager. On top of this, processes can become bloated when different systems are involved to perform functions. The challenge was to streamline this entire process.
The real estate and property industry has, in some ways, lagged behind in technology. Mypm engaged Kiandra in order to bring the industry in line with the service levels of other financial services sectors such as Banks, online share trading, and online retailing.
Mypm Managing Director, Stefan Deffert, said initiating new technology in the industry was a chance to step ahead. “When we first looked at the processes, I told the team, ‘be prepared, we’re heading back to the 80s’. Not much of real estate has moved on since then, hence the opportunity we have in front of us. Landlords have traditionally been the last to know about the goings on of their property - Now we can change this. Information will now be shared with all relevant parties simultaneously,” he said.
The fundamental objective was to passively inform landlords and tenants, thereby empowering them with the knowledge of their property on demand. The automatic availability of this information on demand would remove the vast majority of current manual enquiries, such as telephone and email, to Property Managers and associated administration staff.