Hi Everyone, I hope that you and your business is faring well!
I have been contacted by many PM’s recently on what we can and can’t do in level 3, especially around letting. Can we do viewings? how many? how should we register our touchpoints for potential exposure, and with all of this how do we ensure we’re putting the right people into the homes…
To gain another perspective on this I did an interview with Kelvin Chandran, it is here for you to read. I do suggest anyone who is still looking at this process within their own business take up Kelvin’s offer to reach out and work through how level 3 looks in your business.
Introduction: Kelvin Chandran is a long time landlord and property expert in New Zealand. He has been in software development for the last 10 years and worked with some of the biggest businesses in terms of risk management for banking and insurance. Frustrated with the paper forms and lack of Anti-Fraud in the Residential process Kelvin has now turned his expertise full time to our industry. I recently interviewed Kelvin about what level 3 looks like, and what as an industry should be our benchmark. I wanted to know how we could turn these difficulties and hurdles into opportunities for innovation.
Ashley Giles - Interviewer: Kelvin, as NZ emerges from lockdown, everyone, especially the property sector is keen to get moving again! There are quite a few new restrictions on viewings, processes etc, How do you see this effecting letting?
Kelvin: Yes, as excited as we all are to get a latte from our favorite cafe’s again, it’s not BAU out there for sure! We have all been preparing for viewings to begin again, but with tough new requirements, the old ways of running large open homes will need to be re-assessed and new technologies must be used to help the sector operate safely in the post COVID world. So I think that this is going to fundamentally change the process, and hopefully for the better beyond this pandemic also.
Kelvin: Industry from both REINZ and MBIE require that agents managing rentals no longer hold open viewings. They must now only perform limited private viewings to those applicants who are pre-qualified and health checked. I know that Property Managers are welcoming this change as it means that both their valuable time is not wasted for tyre kickers, and their health is not going to be in jeopardy.
I see all these restrictions as opportunities for us in the industry! I think that with technology and service expectations continually evolving, this could be the way that we as an industry can solidify a better way of performing letting, to give a better user experience. This is one of the main reasons why I started Pickmee.
Interviewer: You mentioned that Technology needs to change, What specifically? We already have several good options on the table in NZ and AU, don’t we? There is certainly no shortage of new Prop-tech coming to the Market.
Kelvin: Yes, there are several options on the market currently, however in my mind none seem to fully address the contactless requirements of today, while still putting the user/customer at the epicenter of the process. Pickmee was developed to restore the balance of power in the transaction, giving both parties a better experience. We draw on a very strong financial and credit background to input anti-fraud and allow user-selected updates of their tenant profiles which means they volunteer much more information than an agency can legally ask for. They feel empowered, and the PM’s get much more than they would have on their standard online application forms.
Interviewer: I like the idea of the balance of power, but as a business owner right now I am more concerned with my immediate needs? How can we stay safe, rent properties to the right people, and stop owners having downtime?
Kelvin: Yes, its a good point I currently have properties vacant in my own portfolio, so I fully appreciate the other side of the coin.
With viewings limited to 2 per day pre-qualifying tenants is vital so that only top applicants are shown the property. As we have moved the entire letting process online we’re helping to keep tenants, property managers, and landlords safe by eliminating paperwork and making the process from application to tenancy agreement contactless.
Using the Pickmee platform Property Managers can vet applicants before inviting the best potential tenants to a private viewing. Tenants simply apply to a property using a web link and they will be guided to complete their tenant profile, background and credit check information, as well as verified references, are provided upfront so you can see everything about them before you invest time and put your team at risk for a face to face viewing.
Think of it as a Recruitment Agent for prospective tenants. We make sure that the person who is presented to you has all the right references, financial checks, and verified information before you put you or your team at risk by showing them through.
Interviewer: I can appreciate that analogy. When I was a PM, I used to love it when applicants handed me a tenant CV, it made my job much easier!
Tell me about contact tracing, I know it is a buzz word with WorkSafe and MBIE, but what does it mean for our daily processes?
Kelvin: Yea, your right. One of the most talked-about ways to combat the current crisis is contact tracing and this is required across almost every industry.
Property Managers normally come into contact with dozens of people a day, and with inspections and viewings and a level 3 average bubble size of 10, we could potentially move the virus to hundreds of people a day!
The business who currently use Pickmee to screen tenants will automatically have all of the key contact details and viewings attended tracked for all applicants, making contact tracing seamless when reporting is required, which we hope they will not need. But it has been one less process they needed to create and we have adapted the software with this in mind in the last few weeks.
Interviewer: Digital paperwork is also a big issue for some smaller businesses especially since products like Docu-sign are expensive and not easy for everyone to access quickly as we adjust in level 3.
What are your thoughts on this, and any suggestions for our small businesses that have already had revenue hits?
Kelvin: Social distancing and making e-commerce contactless has been much discussed, and this transformation is especially difficult in Property Management as we are a “People first” industry. This has been my biggest challenge in building Pickmee, how do I keep the ‘heart’ in an entirely digital and contactless process? The answer is it has to be client-centric, and tenant lead. I know this sounds backward, but if you follow this thinking with your processes then the user uptake (which is where we see most prop-tech come un-stuck) will be widely accepted and therefore it will succeed for you as a business.
I think for the smaller business, look for some free ways to get started and avoid additional costs or time delays. For example, many agencies have spent small fortunes on their own Tenancy Agreements, so discarding these at this time does not feel like a very good use of resources. Pickmee is the only platform that will work with your own Tenancy Agreements, so there are little changes and disruption for smaller businesses.
Also, having an advanced process like Pickmee will help you impress your clients and increase the justification for owners letting fees and re-letting costs. At the end of the day, they get to see the full profiles of their tenants, fully checked and verified.
It is tough out there, I fully understand. On a personal level, while I am not a consultant, I have years of experience and a huge passion for this industry and I am always available to talk with anyone wanting some advice on how to implement level 3 into their business.
Interviewer: Thanks Kelvin, I appreciate your insights and willingness to share your own experiences as well as the platform for our Members. I understand you’re happy to give Pickmee to all our LPMA members complimentary during levels 3 & 2?
Kelvin: Yes absolutely. Right now it’s about getting something into the hands of our people who are frontline in this industry. Flick me an email, or give me a call and we will get you connected at no cost so you can have a contactless approach in your business today. We are extending our 60-day free trial to cover these periods. It is worth noting there is no cost to the tenants. Pickmee is fronting the costs for reference and credit checking so all parties can get on the platform immediately.
Ashley Giles - Closing Thanks again, here is Kelvin’s details for anyone wanting to reach out. Good luck out there everyone, stay safe and God bless.
Kelvin Chandran Co-Founder, Pickmee
M: +64 21 897483 | E: kelvin@pickmee.io