This week on the Property Management Show Podcast, Marie and Brittany are joined by Michael Lushington, CEO of Fourandhalf, and Ethan Lieber, CEO of Latchel, to discuss PM Grow Summit 2022. Fourandhalf and Latchel are co-presenting the upcoming conference, which focuses on the future of property management.
How is the future of property management relevant now?
This topic is on everyone’s mind right now. Many things are shifting in the property management industry, and everyone is wondering what’s going to happen next. The goal of PM Grow 2022 is to bring everyone together and pose that question. The conference centers on people and relationships and the future of technology. With the new landscape being created by COVID and the influx of money coming into the PropTech space, we have shifted the way we have to think about the future of the industry. It is important for property management companies to think strategically about growth and how they are going to scale their business.
Michael & Ethan’s Vision for the Future of Property Management
There are so many possible directions the property management industry may go in. PropTech money is going to keep changing things and this will drive small businesses to be better as they figure out how to compete with larger, VC-backed companies. How can you be more efficient? What kinds of technology should be put in place? It’s possible that 1 person with a sophisticated network of technology and personal connections could manage 100 doors by themself. There is a trend of management companies leveraging tech and people in new ways to bring down operational overhead. Better profit margins also mean more opportunities for marketing, new technologies, and new services. It’s going to be crucial that companies have the skillset to adopt these new technologies. This is driving how Michael and Ethan are thinking about this PM Grow Summit.
Competing with VC-Backed Companies
As Ethan mentioned, Latchel itself is a VC-backed company, although it is not a property management company. Similar to Fourandhalf, Latchel works with property manages to help them grow and be more efficient. PM Grow Summit intends to talk about how small companies can scale in the same ways as VC-backed companies using new technologies. The industry is trending toward more accessible tools for companies of all sizes. They can access the same operational efficiencies, they just need to know how to utilize them and create more efficiency.
Why is this PM Grow a “must-go”?
According to Ethan, coming to PM Grow 2022 or not is going to be the difference between achieving 4x profitability or not in the coming years. It will be the difference between growing your company and remaining stagnant. They have set out to make this show a real “difference-maker” and a “key point in the timeline of the property management industry”. This is a completely different kind of event. PM Grow 2022 will be filled with opportunities to learn things that can make a transformative difference to your property management business. The property management world is already shifting. There is no time to prepare for it, you need to embrace it now.
For more information about PM Grow 2022, visit the PM Grow Summit website.