All Forum Posts by: Justin M Christian

I am curious about if smart locks, lights, thermostats and any other smart device property improvements could be counted toward cost segregation. Does anyone have any idea if this is possible and if not, could you elaborate why those types of improvements are not eligible?

 As @Michael Bishop said, smart devices can be a great value add but management of those devices can get tricky. Homebase.ai is a good solution to integrate smart devices into your property, maintain ownership of theses devices and upgrade your management processes through device automation. 

Homebase also builds out your own internet infrastructure allowing you sidestep the internet service providers and sell internet directly to your residents opening up a big potential revenue stream. You then have your own private internet infrastructure that can be upgraded as new technologies emerge and your residents have immediate internet access on move-in. 

Hi Calvin,

Look into Homebase.ai. We're a smart apartment property management platform. The property owner owns all the devices and the handoff of ekeys/permissions for all devices is seamless through our platform. Happy to answer any questions you may have.

-Justin Christian

For everyone talking down on Smart Home amenities, Schlage did a national survey of renters and found millennial renters, who make up more than half of the renting population, are willing to pay up to 20% more for smart home amenities. Those numbers will vary by the extent that your units are retrofitted with these technologies, but the smart lock is the highest in the list of most desirable tech. I couldn't find the exact study, but found a PRNewswire article on it. Posted below: You can also update your property management platform with one that integrates with these devices, which gives your residents an app to control all the devices, pay rent, request maintenance, etc. I know I'd pay at least 50 more for something like that.

https://www.prnewswire.com/news-releases/results-of-schlages-industry-insight-survey-reveals-what-millennial-renters-want-in-2017-300369197.html

@Christopher Leon:  Thanks for the quick and detailed reply. I am a part of a startup that has built a smart property management platform that enables move-in-ready smart apartments. We have found that most investors/property managers use a hodgepodge of platforms to manage their properties. The purpose for this CRM is build a seamless lead generation tool that allows leads to flow directly into our platform, so property managers have a single platform that can handle lead generation, property management and accounting. 

Whenever we start planning for a feature, I like to understand how other investors/property managers outside of our circle currently manage the tasks that we are trying to build for. As we iterate through this CRM we want to be able to manage lead generation, scheduling of tours, deposits, leasing and then seamlessly transitioning that lead into a renter in our management platform automating as much of this process as possible. Any answers I get here will serve as market research to build the best platform possible that is tailored to real world problems property managers face everyday. 

I'm in the process of planning out the build for a property management lead generation CRM and want to get a general idea about how different investors setup the lead generation flows and what information you consider important to help you convert a new lead into a paying resident. 

Here's what I'm looking for:

1. What steps do new leads go through in your pipeline to become a resident? (first contact, booking tour, deposit, etc)
2. What data do you capture & what data would you like to capture in an ideal world?
3. What platforms do you currently use to manage your lead gen. and what challenges do you have with your current system?

Any info you can help me with is much appreciated. Thanks!

I'd look at Igloo locks. The are pricey but they have a strong partnership with Airbnb and look to become the leader of the Airbnb lock market. I just got my hands on one this week and it's pretty sleek. They have a smart lock and a smart lockbox option if you dont want to replace a standard lock.

https://www.igloohome.co/

Hi @Tim Schroeder as far as electronic door locks go, I'd recommend the Kevo Quickset Lock for apartment unit doors and the Brivo lock system for building access control. I agree with @Jon Crosby on if you are unwilling to pay to install something like a nest, the Honeywell 9000 and the Ecobee 4 are great options for thermostats. He also recommended Nexia to manage all the smart devices, but I'd also look into Homebase.ai, which offers resident communication, payments, maintenance management and smart device control through their property management web platform and ios/android resident apps for 7$ per month per unit.

Hi Al,

I work for Homebase.ai we have built a property management and resident mobile portal that is built off of the IoT integrated OaaS concept. In new construction, a new mid to high end multi-family building can take more than 2 years to complete. New buildings that do not integrate smart devices  are going to be dinosaurs before the building is even completed, because the prevalence of IoT devices in our day-to-day lives will increase exponentially year after year. Buildings without smart locks, thermostats and other smart devices will be behind in the amenity race. 

These IoT devices (leak detectors, smart locks, HVAC systems, smart lights, thermostats, etc.) all can be integrated to trigger automation flows for property mangers that can make maintenance ticket management automated, improve property manager to resident communications, automate renovations and unit flips on resident move out, and even craft resident tailored experiences. These IoT devices seamlessly paired together in OaaS processes can create an operating system for a building. If paired together correctly, your brick and mortar building turns into a smart trackable well oiled machine. 

I'd be happy to talk more if you have any further questions.