Servicing 700+ real estate owners and operators and 1M properties globally, Plentific's onboarding of its first strategic partner in Northern California will expand opportunities for local service providers and improve tenant experiences
NEW YORK 22, February 2023
Plentific, the world's leading real-time property solution, revealed Income Property Specialists (IPS) as its first strategic partner in the San Francisco Bay Area. Real-time property operations will now be a reality for IPS, a property and asset management company for institutional real estate investors overseeing more than 2,500 units. By connecting instant insight with integrated digital solutions that drive action, Plentific is helping IPS increase efficiencies, better serve tenants and generate improved returns for investors.
San Francisco County leads the state in renter-occupied housing units (62%), the Bay Area represents one of the country's most expensive real estate markets and California's housing industry is highly regulated. This all adds to operational complexity for real estate owners, operators, and institutional investors, requiring them to explore new approaches to maximize efficiencies, increase profits and provide better tenant experiences.
Plentific propels immediate action by connecting real estate owners, operators, tenants, and service providers on a single platform. Its real-time solution significantly improves operational efficiencies and unlocks revenue opportunities while continuously improving tenant satisfaction. Plentific's ready-to-serve local marketplace expands the supply chain of service providers for clients.
"Since I began in the property industry over 40 years ago, many technologies have emerged that have helped us operate more efficiently, increasing ROI for our clients. Yet, until now, we still had gaps identifying a single solution that provided not only a complete view into operations across our business, but a better way to manage it all" said Robert Salwasser, President of Income Property Specialists.
"Plentific solves an industry-wide issue, and IPS is proud to be at the forefront of the sector's technology transformation in the Bay Area."
Through its connected platform designed to drive action, Plentific's integrations are customizable and flexible to meet the unique needs of each property organization. Clients can augment what is already working by connecting their existing asset management, CRM, ERP, payments and other key software and systems, such as Yardi, RealPage, MRI and Stripe ‚with Plentific's advanced capabilities to close vital gaps by transforming the management of repairs and maintenance, contractor engagement, building safety, inspections and more.
Additionally, Plentific offers a nationwide marketplace of service providers, presenting real estate owners and operators with the ability to tap into a large pool of vetted trade businesses of all sizes. This flexible, agile workforce makes it possible to meet demand at any time. Service providers on the Plentific marketplace benefit from access to exclusive jobs, a steady stream of work with large property organizations, faster payments and digital work management tools.
Plentific worked closely with IPS to uncover the business' pain points and offer effective solutions including:
Smart Repairs & Maintenance Management manage work orders of all types from small reactive repairs to large planned turns and retrofit projects.
Ready-to-serve Service Provider Supply Chain access a network of vetted local tradespeople through the Contractor Marketplace
Adaptive Digital Inspections streamline labor-intensive inspections and reduce operational overhead by as much as 50%; manage customized inspection forms and workflows to meet requirements and have total visibility
Enhanced Resident Engagement better serve tenants and resolve issues faster through digitalized resident-property manager collaboration.
"Many tenants experience the frustrations associated with the maintenance and repairs process. These issues compound exponentially for landlords and property managers who oversee thousands of units, particularly in complex housing markets like Northern California" said Salvatore Patalano, EVP North America at Plentific.
"Plentific has created technology that tackles some of the biggest challenges facing the real estate industry to drive operational efficiencies and improve the bottom line. We are fortunate to partner with IPS and are confident that together we will deliver a world-class solution."
Plentific's real-time property solutions are proven to streamline operations, drive action and deliver impact for over 700 clients with more than one million units under management and a network of tens of thousands of service providers. In August 2021, Plentific secured a $100 million Series C funding round, in part to fuel its US expansion, led by Brookfield, A/O PropTech, Highland Europe, Mubadala Investment Company (Mubadala), RXR Digital Ventures and Target Global.
To learn more about the benefits offered by Plentific to real estate owners and operators, visit https://www.plentific.com/en-us/
Learn more about the company's services for vendors, including Plentific's Contractor Marketplace, here https://www.plentific.com/en-us/contractors