Balancing tech and connection in multifamily ownership is key.

TLDR

• Birge & Held uses a property health dashboard team to pilot new technology
• The balance between technology and human connection in multifamily ownership is crucial

Birge & Held has found success through the formation of a property health dashboard team dedicated to piloting new technology with teams that have the bandwidth to disrupt their everyday operations at a handful of properties. The use of proptech is a factor that is sure to come up regularly in conversations among executive teams, regional vice presidents, and local property teams. Technologies like virtual tours, online chat capabilities, and AI training tools are making an impact in the multifamily real estate sector.

However, the multifamily space is rooted in relationships, and the presence of a human connection remains essential. Achieving a balance between reaping the benefits of proptech while preserving the human connection is key. Factors to consider include the specific generations living in properties, geographic locations, and internal team compositions.

Birge & Held has embraced principles like being deliberate in technology selection, focusing on next-gen renters, and embracing change management to ensure a smooth transition to new technologies. By prioritizing creating a first-class living experience for residents while incorporating technology where needed, multifamily owners can strike a balance between technology use and human connection.