At WeconnectU, we solve real property management challenges with simple, elegant, and effective software solutions.

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To make sure we’re still focussing our energy in the right places, we conducted an industry survey in November 2022 which compiled insights from over 700 business owners and users. The results showed that the biggest challenges, today, are the same ones that inspired us to start WeconnectU.

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Let’s take a look at what those are and why they remain so widespread.

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Compliance

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The challenge

Compliance has become increasingly complex in recent years, with very real repercussions for getting it wrong. Despite the much larger risk and workload, however, the time, tools and compensation for meeting compliance obligations have remained largely unchanged.

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As a result, compliance is stretching property management resources to their limit, balls are being dropped, and industry professionals are reaching their snapping point.

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WeconnectU’s solution

As a consolidated, comprehensive property management platform, WeconnectU eliminates operational gaps and bottlenecks caused by incompatible tools and departmental siloes. This facilitates much more efficient and effective compliance (and other) processes – particularly in combination with our purpose-built compliance game-changers.

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These include compliance checklists and planners, real-time compliance status monitoring, full interdepartmental transparency, sophisticated meeting management, secure cloud-based storage and more.

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Together, these capabilities transform the time-consuming compliance process into a quick, easy to maintain – and easy to monitor – course of action.

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Manageability

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The challenge

Heavier workloads and greater complexity have also created a far more challenging management environment. In an attempt to “divide and conquer”, many property management businesses have created separate, specialist departments to handle specific tasks.

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The problem with this approach is that there is virtually zero interdepartmental transparency or collaboration – made worse by the disparate and incompatible tools/software in use. This not only makes it harder for teams to work as teams, it also makes it nearly impossible for any one person to oversee operations as a whole.

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As a result, managers inevitably get stuck in reactive mode, playing whack-a-mole with problems as they arise. Service delivery suffers, as does compliance, and any chance of adding proactive value goes out the window.

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WeconnectU’s solution

By consolidating all workflows onto a single, purpose-built, collaborative platform, WeconnectU is able to provide real-time overviews of all task statuses across all properties and/or portfolios. Not only does this make for much easier supervision, it also greatly reduces time-to-productivity for new team members and eliminates knowledge lost to staff churn.

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By tracking all relevant statistics, WeconnectU also makes trends easier to spot. This enables property managers to proactively nip issues in the bud, and help investors capitalise on emerging opportunities.

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Scalability

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The challenge

Our survey showed growth to be the number one priority for property management businesses in 2023. Surviving that growth was also one of the biggest industry concerns.

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Why? Because without operational efficiencies, bigger portfolios mean heavier workloads, more staffing challenges, and higher overheads. Together, these inevitably gobble up additional income, leaving business owners with little to show for their efforts.

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WeconnectU’s solution

Using consolidated, streamlined workflows and sophisticated automation, WeconnectU empowers property managers to get more done, in less time, with greater accuracy than ever before. This, in turn, enables businesses to increase their capacity without a corresponding increase in payroll – the very definition of scalability!

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Profitability

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The challenge

The property management industry is notorious for tight profit margins – another key area of focus for 2023 among our survey respondents.

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Our research shows this particular challenge has roots in three different areas.

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The first is the widespread lack of scalability, discussed above. The second is the fact that much (if not most) of the value property managers deliver flies completely under the radar (and wallet) of investors and trustees.

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The third issue is that most property management operations continue to overlook the potential of several, significant supplementary income streams.

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WeconnectU’s solution

In addition to improving scalability, WeconnectU also helps property managers spotlight their professional value through full transparency and consistently mind-blowing customer experiences. That makes it much easier to negotiate fair pay for services rendered and finally put an end to pushback on fees.

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That’s not all, either. WeconnectU also unlocks the ability to tap into additional income streams like site visits, arrears notices, handovers, debt collection, and specialist legal/financial advice and services.

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Leveraged strategically, these supplementary services can make an impressive difference to a business’ bottom line.