Real Estate Technology and the Reduction of Carbon Emissions | Nine Four Ventures
“Every day, Proptech is improving to autonomously monitor and control our carbon footprint, through changes in things like energy and water consumption. What’ll be interesting to see in the coming years is how technology will be able to both help the cause (i.e. the environment) while also aligning the incentives of all the different players (i.e. the government, property owners, property managers, tenants, etc).”
“Through these funds, owners and operators can indirectly invest in startups within multifamily, but also gain market research and clarity on which startups to initiate pilot programs. Kurt Ramirez, General Partner at Nine Four Ventures, indicated the multifamily industry has been very slow moving from a tech adoption perspective, and as a venture fund, they can speed that process along and improve adoption of new technologies.”
“With one simple clarification of months-old regulations, New York’s Department of State essentially upended the entire New York City apartment market.
According to a statement issued by DOS this week, New York City renters will no longer face sky-high broker fees when attempting to lease an apartment. Instead, those costs will fall on the landlord’s shoulders.”
“Casper has dominated marketing over the years, but the prospectus tells us it’s somewhat of a double-edged sword. In its IPO prospectus, we learned that the company has spent $423 million on marketing since 2016. For every $1 it spent on marketing, it brought in $3 in revenue. More than 73% of its gross profit last year went to sales and marketing costs.”
“No industry is immune to technological advances, but real estate is one niche that has been traditionally slower to adopt new trends. Not any longer! PropTech is booming and changing the way we buy, sell, and interact with our properties.”