OCTOBER 2024CONSTRUCTIONBUSINESSREVIEW.COM9well as this, much of the housing and rental stock is second-hand and dated. A lack of investment within our current housing portfolio has led to substandard properties being rented, and this has wider costs on society through poor health outcomes.Proptech can measure property performance and provide real-time data to property managers and owners. Devices created by Kiwi Proptech start-up Tether can measure the CO2 readings within a property. It can also measure a property's temperature and power consumption and track how a property can be managed more effectively. Increases in CO2 emissions can lead to mould issues, which have a detrimental impact on the health of the occupants of the property. This means we can provide better education to tenants on how to look after their homes but also to landlords on preventative maintenance.Other Proptech companies ahead of the curve in this space are Wellington-based Proptech start-up Tapi. This company makes it easy for tenants to report maintenance but also uses Artificial Intelligence or AI to help troubleshoot with the tenant to resolve issues. Using historical data that it has collected, it can then advise property managers and landlords on the best outcome to resolving maintenance issues. It can calculate whether a repair or replacement is the best option and the approximate cost of either option. This also leads to a faster response time in resolving maintenance issues, which leads to a better consumer experience for the tenant who does not get frustrated in waiting for ongoing maintenance.Looking into the future, Proptech will play a significant role in reducing the Carbon footprint of the property management industry. As mentioned earlier, the quality of much of the rental stock in New Zealand is not where it should be. With a stronger focus on the environment, I do not doubt that we will see more legislation coming into play that demands greater energy efficiency for our rental stock. Companies like Tether and Tapi are constantly innovating, and I do not doubt that they will have a significant role to play in not just providing better outcomes for tenants and landlords. They will also contribute to our industry by reducing its carbon footprint. There is also a potential lack of understanding that many landlords may have regarding their rights and responsibilities. This can lead to unintentional breaches of legislation
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