RENT Magazine Q4 '21

address things like, Have they paid their rent? Do we send a past due notice? Do we need to market to somebody else? However, there’s a lot more going on day to day that’s not in a PMS that really defines how well that property operates at the end of the day. With Leonardo247, we can hand an owner on a silver platter the best practices, preventive maintenance, task management and risk management that they can launch to immediately improve their operations. What’s something that you learned from starting Leonardo 247? We always thought we would probably add more value for the smaller operators. We never expected to find that the large operators still have problems getting policies and procedures communicated out in the field and seeing them performed in a consistent way, at the right time, and have any visibility into what’s happening. We’ve seen many of our members transition to digital now, but when you started your company in 2014, it must have been a tougher sell. How have you seen this shift to digital unfold? Yeah, you’re exactly right there. Just the switch from paper to digital is hard for some people. Also, we’re not just a piece of software that you launch and forget about; you’re really changing the way you think about operations, because you’re moving from this dynamic where you need to train people all the time to make sure they

know everything and that they’re doing it all, to letting Leonardo 247 track the minutia and give the property managers guidance on what to do. There’s a demographic shift too that we’re seeing in the industry. There are two things happening. Number one is the younger generation is coming in and embracing technology. Secondly, national operators are assembling tech stacks that are raising the bar in terms of what should be expected in property management. I think the old days of doing things on paper is not going to be acceptable anymore. These companies have better controls in place, more consistency, and more efficiency. Unfortunately, it’s leading to some price compression, which is going to squeeze the smaller operators to have to adopt technology in order to stay competitive. What have you seen property managers and owner operators adopt to help them throughout the pandemic? At the height of the pandemic, some companies were reporting having had as many as 38 policy changes to keep up with what was happening locally. And so, one of the things that became very apparent is that clearly communicating policies and procedures during times like these is critical. The other flip side of that coin is making sure the policies are implemented. There’s a great quote that I saw

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