Talking a little bit about our technology infrastructure and how that plays a role in mitigating our expenses, not only at the administrative company level but also at the property level.
What we see in our business, as a private equity real estate operator, is that by unifying and bringing all of our site managers under one umbrella and centralizing our process, using technology, we’re able to mitigate administrative costs and operational costs.
Kind of like you would have in a rollup model with equity businesses and ultimately using technology and our property level, we’re able to not only integrate amazing new things like payless laundry systems, where our community residents are able to use their phones to pay for their laundry services.
We implement an Internet Wi-Fi system throughout our properties. So number one – that delivers a better result for our investors, because we installed our own infrastructure where we’re able to sell our community of residence Smartland internet.
So, it’s not just getting a small rebate check from one of the big providers. It’s delivering real NOI, additional revenue results to our investor-partners. And then other cool technology items that we’re doing throughout the properties may include things like uniform speaker systems or entry notification systems.
And most importantly, we’re using technology for security and also a means for our residents to be able to communicate with us effectively. Mitigating, again, more cost on the administrative side, driving better and more effective results for our investor-partners.
Related: Multifamily Investing: Adding Value by Adding Amenities