PropTech (property + technology) is a term for startups and software that disrupt traditional property management systems and business models.
For the past five years, the technology growth within the real estate industry has paced like nothing parallel. While financial markets witnessed a pause for several months amidst the Covid’19, proptech went up with a fury, and the sector registered an all-time high in venture capital funding. The demand for technology to support remote working to increased software sales and e-commerce activity
According to Crunchbase, this technology sector has raised over $10.6 billion in 2021 alone - which is almost 50% more than in pre-pandemic times.
Plus, now with global climate changes, there’s an increase in demand for green solutions that lower CO2 emissions and thus lower the rate of global warming. And PropTech is one of the key factors which can play its role in reducing CO2 emissions.
Building Management Software simplifies the managing and operating of real estate assets by providing information about building performance by monitoring and controlling services, sensors, and devices in smart buildings – ensuring optimal consumption of energy/water and CO2 monitoring.
FinTech solutions in Real Estate make transactions and online identification easier – cost efficient and time efficient.
PropTech in Real Estate now connects buyers and sellers on a digital platform, provides advisory services, real-time market information, digitalizes the whole leasing journey, and eliminates the manual traditional process.
HappyTenant is a powerful PropTech solution that enables property managers to connect with their tenants, landlords and facility management team on 1 integrated platform. With HappyTenant property managers can kiss goodbye to old conventional papers/files trail management and perform all their operational activities on cloud-based software that keeps all the data safe and accessible anytime anywhere.