With countless ways to leverage technology in property management services, the development of ‘proptech’, or property technology companies, is on the rise in Canada, especially as property stakeholders have leaned into virtual and online platforms throughout the pandemic.
Tribe Chief Executive Officer, Joseph Nakhla explained, “ Historically, the focus of proptech has been on real estate transactions such as buying and selling homes – the way people transact on a property – how to list a home for rent and attract tenants, or how to facilitate payment between the parties.” “Property management,” added Nakhla, “remained a traditional, paper-based industry and has been slow to adopt new technologies around the way the home or the building is managed.
“As service property management has evolved from bricks and mortar to managing communities, property management is no longer just about collecting money, paying bills and maintaining a building – it is about connections and lifestyle,” remarked Nakhla.
Tribe, a growing proptech company that recently began to trade on the TSX Venture Exchange, aims to disrupt the largely paper-based property management model as well as capture a greater share of the property management sector through the delivery of tech-enabled community products and services.
“There is an incredible opportunity to leverage technology to provide access and bring simplicity to the day-to-day operations of both new construction and existing communities through improved services, streamlined processes and digital communication, to connect all the pieces of residential community living, leverage group-buying power and provide value to communities,” shared Nakhla.
Nakhla further described big data possibilities by stating, “There are millions of pieces of data and workflows for how these buildings are managed and should be managed. Data related to how a condo corporation navigates through bylaws, polling, voting and proxies – yet it is all being done by paper.”
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