PropTech is taking a beating during the coronavirus crisis. But it’s not necessarily all doom and gloom. Here’s a look at seven areas of multifamily tech and innovation that can survive post pandemic.
Karen Hollinger is the senior vice president of strategic initiatives at AvalonBay Communities. She is also the immediate past chair of NMHC’s Innovation Committee.
To that end, I have received a fair number of calls from PropTech investors asking me which types of PropTech companies will survive. Let me start by telling you what won’t: All of those businesses that add “one more app” to the mix, competing for a teeny slice or scope of a service or product. But the companies that can sustain—and some of the newcos that gain in this market—will be strongly aligned with multifamily owners to produce real ROI post COVID-19.
So, in no particular order, here are my two cents, from a multifamily perspective, on the tech and innovation that’s going to have durability post pandemic.