Miami’s Tech Moment and PropTech Innovation for Multifamily Real Estate
The city of Miami has recently drawn a good kind of attention from big and small tech ventures. It has become apparent as a viable option to many big-deal companies, as changing legislative and financial structures make them reassess and project for the future.
Miami’s startup potential is adequately heralded by the city’s enthusiastic Mayor Francis Suarez as he has stayed on top of this trend, laying the opportunities in the state open before viable parties. If these established tech companies bite, Miami will undoubtedly become an ecosystem rich with engineers and swarms of investors.
Young professionals, Big tech players, and Silicon Valley prospects have recently favored considerations of a move to the region, viewing its low taxes, business-friendly regulations, and lower cost of living (which compared to traditional hubs like New York and Silicon Valley seemed a lot preferable).
Within all this bustle, recently, a catalytic moment struck in the city late last month with the Japanese multinational conglomerate, SoftBank announcing plans to invest $100 million, drawn from across its funds, into Miami-based startups. The move intends to grow Miami’s existing tech businesses and encourage more ventures to relocate to the area. The move will likely verify to other big-money companies that the city’s growth is something to be taken seriously.
These companies and their community of professionals are also swayed to some degree by the advantage of the city’s vibrant music scene and diverse communities (more diverse than what is typically found in Silicon Valley circles).
As the weather and tax-free attracts investors and founders from around the country, we at Propzie stand amongst all this activity. As a Miami-born startup, we have developed solutions that would merge with the recent changes in its scene. Our company has fully automated and simplified the rental process, bringing residential services to anyone who’ll have them with the least amount of fuss and time-wasting.
We are seeing a rapid rising of sorts going on in the real estate rental market recently. The short-term rental is experiencing a “revival” due to the pandemic. The rise in demand and activity has given wings to unprecedented growth and innovation in the realm of housing real estate. With the markets still hurting from the 2020 decline, it would seem that short-term rentals will at least assist some parts of the market.
The short-term rentals market, generally deemed safer than traditional accommodations, attracted more traffic from pandemic travelers and has continued to grow as changes in the sectors become more adaptive and efficient, warping to fit the times.
Multi-family real estate is one of those gradually benefitting markets. The new market for temporary relocations may not just vanish once the pandemic is over. Currently, young working professionals flexing the ability to work from home have also taken a liking to spend their time in weather-friendly suburban places.
As they adapt to these changes, they are coming to terms with the flexibility and variety of use availed to them by their new arrangement. Effectively, this market continues to grow and brew in the potential to last well into the future.
Undoubtedly, there will be more traffic than ever in the multifamily industry via short-term rentals online as an option for an easy flexible lease. However, the management of rentals and technology determines how much traffic will be absorbed. Airbnb’s interface has made it easier for property managers to go on their own and manage listings in their buildings. Still, only one rental channel, many practical and efficient technologies have emerged in the rental market with creative tools that take the new flexible lease market to another level.
As a startup in this PropTech field and part of the Miami tech scene, we aim to transform the multifamily housing and property management industry by automating the entire flexible rental operation and resident digital experience. Our technology connects building and residents to local businesses and highly-rated professional services creating a trustful ecosystem surrounding each property, empowering buildings, simplifying life, and transforming the way we live.
