A Changing Management Industry
Today, we're getting closer to a tipping point in the property management business, as well as the much-needed application of existing technologies.
Without exaggerating, the Skillhop team noticed the trend, need, and desire for innovative property management technology back in 2016.
And now, in 2022, the future of property management has arrived, and whether we like it or not, the usage of software is necessary in order to function at peak efficiency; otherwise, we risk retention, vacancy, and an overworked workforce. This is especially true given the multifamily industry's current unit demand and expansion.
With or without a recession, the United States is on track to add ten million housing units by 2030. With this expansion comes a new wave and a new type of resident, one that expects specific services and facilities that can only be given by software and new technology.
For example, Adam Neumann (WeWork) is currently flying a flag that reads: software applications and crypto money for expedited move-ins and rental payments. Adam is now keeping things under wraps in order to reveal facts about his new company, "Flow." The red curtain and the loud rumors, however, were enough for notable venture capital firm Andreessen Horowitz to leap on the chance with a $350 million dollar investment.
As we previously stated, we identified the possibility, heard about it, and even imagined it in our day dreams. As a result, Skillhop is no longer merely a project management platform for the property management business; as of this week, it is Skillhop as a Task & Project Management platform designed for the modern Property & Asset Manager.
Skillhop is a component of the revolution that Adam is referring to. What we've done so far within Skillhop enables managers to optimize operations and everyday tasks centered on their projects. You can now manage tasks and projects, as well as collaborate with your teams and service providers, in a natural and straightforward manner. You can also store papers, generate cash flow reports, and keep track of all property activity in one place. This is where we are at the moment. And what we're working on next is not only connections with Appfolio and Yardi, but also a functionality that allows managers to quickly generate budgets for CapEx and unit turn projects.