More Internet of Things for Landlords

[Al Williamson]

I'm still tracking to forecast how the IoT will benefit landlords.

Some newer thinking suggests a world of interconnected sensors will transition us away from viewing of our rentals as products and more towards housing services.

More as housing "outcomes".

How would Outcomes as a Service (OaaS) type thinking affect the long- and short-term rental business?

Please help me think this through.

[Marcia Maynard]

We have always favored the service approach. We are certainly providing housing services and this certainly is a business centered around people and their needs. We see it as a privilege and a blessing to be be able to do so.

My former employer, a major medical center/hospital, had a mission statement that really hits home. "To enhance the health and well-being of the people we serve." Think about what we are striving to provide.... product and/or service. Our residential rental property business mission statement is "We strive to provide safe, clean, affordable, comfortable and quiet housing for responsible renters in the neighborhoods of West Vancouver." It is not only about the tenants, but also about the greater community. 

In our current rental environment, there is a severe housing shortage for low-income and fixed income folks. Times are getting tough for the middle class too. Their ability, or inability, to meet their basic need for housing impacts the greater community. Our lives are interconnected. Strive for the greater good in work and life. The outcomes will follow suit.