Ask Todd Watkins, COO and general counsel at multifamily investment and asset management firm RailField Partners, his technology wish list for 2024 and he'll give a succinct and emphatic answer: "Less."
"We now have property managers who think there should be a technology solution for every problem, and charge us as such," he tells GlobeSt.com. "We need more people who will get up from their desks, walk their properties, and know their comps and their markets, not rely on some system to tell them what's going on."
His concerns echo something others have also told GlobeSt.com. While technology is in wide use in the multifamily industry, many owners, investors, and operators find a constant push to add more technology to what they're using to be overemphasized, expensive, and underwhelming.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content