WeconnectU News

At WeconnectU, we are on a mission to create more valued and valuable property managers, and one of the ways we are doing so is by helping to reposition them as Rental Asset Managers, rather than Rental Administrators. This may, at first glance, seem like superficial semantics, but closer inspection quickly reveals the potential of this seemingly small change.

In a recent article, we explored the concept of value as a Community Manager, and why connecting the dots between effort, value and compensation is so critical for property management businesses. Our research shows that Community Managers with a solid grasp on the amount of effort going into each community, and a clear picture of how that effort translates into tangible value for their clients, are far more likely to receive fair compensation for their services. Unfortunately, as we all know, there is a limit to how much effort any Community Manager can put in. There are only 24 hours in a day, after all. That means the value you deliver (and therefore compensation you can reasonably expect) is limited by the amount of effort it requires.

One of the biggest challenges affecting the property industry today is a phenomenon we call The Iceberg Effect. This neatly illustrates the difference between what your clients think you do as a Community Manager and what you really do to help your communities achieve their full potential.

There’s no denying that technology has been a gamechanger for property professionals, but becoming more active in the digital landscape is not without its risks. South Africa has been ranked 6th in the list of countries most affected by cybercrime, according to cybersecurity company Surfshark. Thankfully, there’s plenty that you, as a property practitioner, can do to protect yourself, your clients and your business from becoming yet another cybercrime statistic.

Property management services are scarcely a new thing. In fact, most landlords consider their property managers an essential part of their rental portfolios. Recent changes to the rentals landscape have heaped significantly more complexity on property managers’ plates, however, begging the question: Are traditional methods still keeping up and delivering the value landlords need? Read more...

Let’s face it: traditional rental inspections are nobody’s favourite activity. Necessary? Sure. Fun or profitable? Not so much. Small wonder most rental portfolio managers limit their inspection workload to the legislated minimum of incoming and outgoing inspections. Only one in three of our recent survey respondents reported conducting interim or midterm inspections as well. That’s even less surprising when you take into account the fact that only 25% of property managers charge for inspections, interim or otherwise. Those that do, however, are reaping some very real rewards, not just in terms of cashflow but also the level of service – and value – they’re able to deliver to their rental investors. Let’s take a peek at what that value looks like.

Did you know that 72% of all new developments in South Africa between 2018 and 2022 were either sectional title or freestanding properties in security estates? This powerful trend towards community living – driven largely by the growing desire for security and luxury lifestyle amenities – has created a huge opportunity for homeowners and property investors.

While most of South Africa is reeling, the property management space is growing as demand is not going to stop soon. This is largely due to significant increases in sectional title and HOA communities. Our community living sector is now the second biggest in the world (outside of the USA). As it stands, residential properties make up 89% of all registered properties in South Africa and are responsible for 71% of the total value of the national property market (a whopping R5.96 trillion as of June 2021).

At WeconnectU, we solve real property management challenges with simple, elegant, and effective software solutions. 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. Let’s take a look at what those are and why they remain so widespread.

The start of a new year is always a great time for goal setting. At WeconnectU, our goal for the year is to ENGAGE. We’re rolling this theme out in our own operations, but also using it as a guide to help you, our clients, achieve even greater success in 2023. Let’s take a look at how you can join us in embracing the ENGAGE mindset (with our help and solutions, of course), and the rewards you can expect to reap along the way.