SightPlan, a technology leader to the real estate industry, announces that the United States Patent and Trademark Office has issued US Patent 10,078,805 entitled “Operations Management System and Related Methods”. This patent covers more than a dozen inventions and includes groundbreaking technologies that are already changing property operations nationwide.
Multifamily properties are rising in popularity as Millennials and Gen Z are opting out of purchasing homes and entering the rental market. Baby-boomers are increasingly converting from home-ownership to renters-by-choice to focus on things that matter most to them; from 2009 to 2015 the rental market for those 55 and older increased by 28%. This demand, along with an increase in renter expectations and property systems complexity have led to new pressures on property staff to streamline their operations while delivering ever increasing levels of service.
These unique inventions from SightPlan are providing property managers new solutions to the recent challenges in the industry as well as molding the future of how properties are purchased, managed, leased, maintained and sold.
One invention provides a capability to specify documentation required to close a task, based on the nature of the task or where it’s located. For example, a property team member can be required to close a task with a photo when completed at the site of the task. This increases accountability by ensuring that the task was properly done, where it was supposed to be done, and within a reasonable timeline.
Another invention includes the ability to break complex efforts into smaller, more manageable, pieces and assign those items to team members or third-parties. These smaller tasks can also be related and organized with rules. For example, unit make-ready tasks could be organized so tasks like replacing flooring will be scheduled after painting has already been completed, ensuring that best practices are being implemented automatically for the property staff.
Another invention aids in seasonal needs and natural disaster preparedness. Task lists to prepare for the winter months in northern states or hurricane season in southern states allows teams to prepare ahead of time to ensure that they’re equipped with everything the properties and residents may need season-to-season. These tasks lists include preparation for before, during, and after a season or event so the residents and assets are best taken care of.
Joseph Westlake, Co-founder and President of SightPlan, says, “As a company, we’re constantly striving to find new ways of delivering value to our clients, but as industry veterans we know our solutions only reach their full potential if they empower the people who use them every day. We believe that these inventions truly revolutionize the way on-site staff coordinate with each other, communicate with residents and get work done.”
With issuance of this patent, SightPlan will have the exclusive right to share these technologies with its clients – establishing the company as the go-to partner for organizations looking to streamline property operations and take advantage of the latest industry innovations.