MASTER INVESTOR
real industry problems with our technology , rather than just building tech for tech ’ s sake ,” says Johann .
“ For that reason , we decided to secure the exclusive global marketing licence for RedRabbit , the industry leader for Inspection and Maintenance management . We decided to integrate it with our platform instead of reinventing that particular wheel .”
Driving visible value
The reporting aspect of WeconnectU was particularly important to its founders .
Johann says traditionally , property managers only ever report on financials , and that ’ s all they can do with the tools they have . “ As a result , the rest of the work they do flies under the radar , so their clients never fully appreciate their true value .”
By facilitating comprehensive reporting , covering all aspects
" Each new tool or functionality must pass the test of actively improving compliance , manageability , scalability and profitability before being put into development ."
of a property and its management , rather than just financials , Johann says property managers can finally demonstrate to trustees and landlords just how much goes into the services they provide . Perhaps even more importantly , they can quantify how this service impacts the value of their clients ’ assets , an all-too-frequently forgotten aspect of the property manager ’ s role .
Creating Asset Managers
“ There ’ s a huge misconception amongst property managers , particularly in the rental sector , that their biggest competition is the agency down the street . In reality , their biggest competition is the DIY landlord , using any one of a number of free rental management solutions available online these days ,” says Johann .
According to him the reason is not that managers aren ’ t providing sufficient value , but that they continue to be limited in how they convey that value by their tools and often outdated mindsets .
Johann says “ Property managers often get so bogged down in their day-to-day admin that they either forget or don ’ t have enough time to focus on their most important role which is protecting and growing the value of their clients ’ property assets .”
“ This is evident in their reporting , almost invariably limited to basic admin and financials and gives landlords the impression that they can easily replicate this service themselves .”
“ If you compare this to the experience received from financial asset managers , it ’ s chalk and cheese . Regular investment updates and reviews , market trend analyses and portfolio recommendations clearly demonstrate the role financial professionals play in optimising a client ’ s investment .
“ Our aim with WeconnectU is to enable property managers to deliver a similarly rich and clearly valuable client experience . We do this in two ways , by dramatically improving efficiency to give them time to focus on adding value to their clients ’ property assets and portfolios . Secondly , by creating exceptionally detailed reports that can be used to inform , educate and advise investors on the status of their properties as investments .”
According to Johann , this shift in positioning from property administrators to expert asset managers is a vital step for property professionals hoping to remain competitive in today ’ s investment landscape .
Solving real problems
Helping property managers and business owners become more competitive and profitable has always been a core driver for WeconnectU ’ s solutions . To this end , its founders say each new tool or functionality must pass the test of actively improving compliance , manageability , scalability and profitability before being put into development .
“ The profit margins on property management have always been relatively small . Thanks to the inefficiencies of traditional management and accounting tools , it ’ s been nearly impossible to scale revenue without also scaling overheads . We want to solve that problem for business owners , making it possible for them to increase their portfolios without jeopardising service delivery or requiring additional staff ,” says Danie .
In this , the transparency , efficiency and collaborative capabilities of the cloud have provided a powerful competitive advantage .
“ Using a strategic approach , we ’ ve been able to create fully transparent , end-to-end property management solutions with an intuitive , collaborative workflow that can be run from virtually anywhere in the world ,” says Danie .
“ We were also able to remove departmental siloes and the potential for hidden compliance gaps and introduce powerful automation-driven efficiencies . These , together with our intelligent dashboards , make it possible for community scheme and rental asset managers to successfully stay on top of far larger portfolios than before , while business owners monitor and manage KPIs to optimise their operations and grow their profits .”
Strategic Partners
Just two-and-a-half years into its journey , WeconnectU already had a trio of integrated solutions on the market and almost half a million units being managed via its platforms . Its founders credit this meteoric growth to a “ dream team ” of highly talented individuals , strategic partners and a customercentric mindset that values long-term client relationships .
Johann says they ’ re a little different to most solution providers in that they like to think of themselves as trusted advisors to their clients .
“ We don ’ t just sign them up for a product and then leave them to find their own way . We ’ ve been where they are , we come from the industry , we know its challenges , and we ’ re now in a position where we can see and share its best practices .”
Eyes on the future
As for the future , Danie and Johann remain committed to helping the property management industry navigate a shifting landscape to deliver their services in a more efficient , more effective , more profitable and more visibly valuable way .
“ Our industry is not a static one , there ’ s always new legislation , new procedures and new requirements coming out . To stay relevant , property managers need to have the best possible tools at their fingertips and know that those tools will effortlessly support them at the top of their game ,” danie says . “ That ’ s our goal for WeconnectU ’ s future .” “ Oue goal is to keep supporting the industry with our cutting-edge technology and ecosystem of tools , solving complex industry problems with simple , elegant and userfriendly solutions .”
SOURCE Tracy Hadfield
6 SEPTEMBER / OCTOBER 2020 SA Real Estate Investor Magazine