Ritter on Real Estate How Multifamily Technology will Increase your ROI with Kyle Finney
Adding value to your property can be costly, and sometimes the returns are negligible. Today we speak with Kyle Finney, whose finger has been on the pulse of PropTech for several years. By adding smart tech to your property in the right ways and places, you can up rents while adding exponential value. We open the show by introducing Kyle and hear about his professional history, discovering PropTech, and its uses along the way. We then dive into some PropTech examples and their uses, like smart locks, home automation, and motion sensors. Kyle spends time explaining each of these and how they’re integrated into the property. To give listeners an idea of the kinds of returns you can expect by using PropTech, Kyle shares useful case studies. As the show develops we then find out more about Kyle’s company, Arize, and what its value proposition is. Listeners will also benefit from Kyle’s insider advice, especially when he shares the kinds of questions you should ask before making PropTech investments. To finish the episode, we take a look at Kyle’s four keys to success. Be sure to join us today!
Key Points From This Episode:
- Introducing today’s guest, Kyle Finney, a business development manager at Arize.
- Kyle gives us a breakdown of his career so far.
- Find out about what PropTech is and what it can do for companies.
- Kyle shares examples of PropTech and how homeowners and property investors use it.
- Hear about what tenants might be expecting over the next year, PropTech-wise.
- The ROIs that investors can expect from implementing Kyle’s strategies.
- Why having tech like smart smoke and water detectors can save you thousands a month.
- Kyle talks to us about Arize and its value proposition.
- We hear Kyle’s expectations on what the next big wave in real estate will be.
- Why Kyle’s company focuses more on sensors than cameras.
- The types of questions you ought to be asking before investing in PropTech.
- Kyle tells us about the infrastructure behind Arize.
- Why streamlining your PropTech supplier is a necessity.
- We finish off by hearing Kyle’s four keys to success.
Tweetables:
“We see a lot of people from the investment side adding PropTech to increase property value.” — Kyle Finney [0:03:38]
“We're expecting smart locks to replace traditional locks within the next three to five years. And within the next year, lighting control and thermostats are going to be something that many, if not all units have, no matter what the class is.” — Kyle Finney [0:08:53]
“Access control is going to be a big thing. It's a big deal right now. Even having people over and shooting them an access code for one-time use —they can enter without you having to go out and open a gate — that is a big thing.” — Kyle Finney [0:20:00]
“The reason why tenants prefer motion and entry sensors over cameras is because they don’t feel like their privacy is being invaded.” — Kyle Finney [0:21:22]
Links Mentioned in Today’s Episode:
National Multifamily Housing Council
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Production by Outlier Audio