EDITORIAL VIEW
Using innovative ideas to shape the future of property
Innovation has become paramount for landlords and investors in one of the toughest experienced rental markets in a long time . Besides rising interest rates , inflation and utility costs , the pandemic has driven an increase in vacancy rates , price-sensitive tenants , massive tenant churn , poor collections with minimal rental escalations resulting in negative growth , says Michelle Dickens of Tenant Profile Network ( TPN ).
Landlords across both residential and commercial markets have had to become far more flexible in their approach to reduce vacancies on longerterm leases such as offering limited or zero rent increases , waivers on deposits , added amenities , reasonable upgrades , rent-free periods with free parking . Besides being flexible in many areas in the property management department landlords and investors have been forced to innovate by embracing technology-driven service improvements .
Proptech companies have been helping real estate companies improve services , speed up processes and decrease complexity for themselves and their customers for a while now . It is clear that technology is laying an increasing role that improves the landlord and tenant experience . The usage of auto property search portals , lead generation tools , virtual viewing for tenants and buyers has made property buying and renting more accessible .
The growth of property management software products to manage tenants , online lease applications and leases concluded with digital signatures frees up time-consuming administrative functions for property managers and investors . We anticipate seeing a massive uptick in real estate companies using technology or Proptech more and more as a business enabler in 2022 .
At REI we have embraced technology era 100 % besides our magazine being in the digital space since 2010 , our online webinars since 2015 and now we are driving 3D space build technology in the much spoken about metaverse . We are leading the charge in the future of the internet in building 3D worlds for real estate companies . The advent of 3D worlds in the residential and commercial space is in demand . Real estate companies including retailers are exploring using digital twins to create virtual pop-up stores , complete with e-commerce opportunities embedded . Go to our new website rei . co . za to find out more .
Our front cover feature in this issue we speak to Paul Jackson , CEO of TUHF commercial property finance company . They provide access to funding to entrepreneurs from all walks of life enabling them to purchase , convert or refurbish buildings in the inner cities of South Africa . He speaks to us about the TUHF ’ s recent challenges and success role of TUHF .
STAY SAFE & SUCCESSFUL INVESTING NEALE PETERSEN EDITOR-IN-CHIEF
AKIRA MORI
“ In my experience , the real estate business past success stories are generally not applicable to new situations . We must continually reinvent ourselves responding to the changing times with innovative new business models .”