The Latest Trends in Prop-Tech

Property technology, or prop-tech for short, is a holistic approach to the way people research, rent, buy, sell and manage a property. Matthew Knoff, VP, Service & Fulfillment at Position Imaging, is an entrepreneur in the prop-tech space.

He provided host James Kent with his thoughts on the evolution of prop-tech and some of the challenges in its adoption, as well as a peek at what the future holds.

The most interesting thing Knoff finds about prop-tech is its ability to span across multiple industries and unite them through a technology platform that allows people to do many things within a building. These things include managing rent roles, building access, package delivery, elevator system integration and the platforms that go with these processes.

While prop-tech is not new, Knoff said it is a transformative evolution and one that’s now encouraged property owners and managers to recognize its benefits.

“Historically, property owners and property managers are notoriously slow to adopt technology,” Knoff said. “Explaining and educating them on how technology could allow them to improve the tenant experience and improve the amenities of the building, lease out more buildings, market their buildings and enhance their portfolio; it was a long road.”

Knoff’s company, Position Imaging, focuses on package delivery and logistics services, and many exciting innovations are happening there in the prop-tech space. With the onset of COVID, Knoff said the increase of package delivery to buildings in office, residential and retail is akin to an avalanche.

This new situation can be a crisis for property managers to control, and that is where technology comes into play.

“What Position Imaging has done, and is doing, is we’ve created a proprietary, artificial intelligence, computer vision-based product,” Knoff said. This product allows couriers to arrive at a building, scan in a package, assign it to a resident, and put it in a package room – then, the resident gets a notification on their device or an email and, utilizing a QR code at the package room, picks up their package. It’s a streamlined, frictionless experience.

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