Tribe Property Technologies – Bringing life back to property management with ultra-smart tech and aggressive M&A
TRIBE PROPERTY TECHNOLOGIES INC. TSXV:TRBE
You saw what happened when Amazon disrupted bookselling…
You saw what happened when Airbnb disrupted holiday accommodation…
And you saw what happened when Uber disrupted taxis and travel….
In each case, the company used technology to fundamentally change the way in which its sector works. Even better, by doing so, they were all able to evolve into the multi-billion-dollar, industry behemoths we recognize and regularly use today.
Tribe Property Technologies is now poised to do exactly the same thing.
However, this time around, the sector up for disruption is property management—specifically in residential communities.
You see, by using tech to transform the way residents, landlords, owners, and developers communicate and interact…
Tribe stands to be an extremely profitable opportunity for early investors.
So, how does it work?
Well, we’ll get into more detail later on, but in short, Tribe’s state-of-the-art solution cleverly meets the needs of all stakeholders involved in the residential community chain.
And in doing so, it finally provides a more effective digital platform for an industry that’s been stuck in the past for far too long.
Indeed, the reality is that most of the approximately 13,000 traditional property management firms operating in North America today still use outdated methods to manage buildings and communities.
Likewise, most records are ineffective and paper-based.
Quite frankly, it’s a laughable state of affairs in a world where people expect every aspect of their lives to be made easier by technology.
We want everything to be ‘just a click away’, and—as you’d imagine—it’s no different for the 70-million-plus people who live in residential communities today.
Consider: if you were to move into a state-of-the-art condo tomorrow, the last thing you’d want to be doing is booking the use of the pool or gym using an old-fashioned paper diary, right?
It’s why the industry must change…
And it is why Tribe is delivering that change right now.
By doing so, the firm has already seen a significant rise in its fortunes, having experienced quarterly revenue growth of almost 250% year on year.
In fact, it expects to generate over $16 million this year (compared to just under $3 million, which it generated in 2018).
But now, having established a solid selection of different revenue streams, and having already set into action an ambitious M&A plan…
Even greater growth is on the horizon.
Indeed, though Tribe is already the sixth-largest property management company in Canada…
There is still time to move quickly and get on board this exciting disruptor before it expands further across North America and rejuvenates an entire industry in desperate need of modernization.
READ OUR SPECIAL REPORTto learn more about Tribe’s aggressive M&A strategy and plans for US expansion
How Tribe is providing a simple solution to a very obvious problem
Identify a problem…
Provide a solution.
That’s one of the fundamental tasks of any successful business.
And it’s exactly what the team at Tribe have done.
Having worked in the property management space for many years, founder and CEO, Joseph Nakhla, saw that the industry was failing to provide its stakeholders with what they needed.
From residents to landlords, real estate developers to tradespeople, community living stakeholders of every kind have struggled for decades with a lack of communication and inefficient processes that cost money, waste time, and simply don’t provide the level of modern convenience people expect.
To fix this, in 2011, Nakhla founded Tribe and began researching a solution to the problem.
He then introduced a new technology platform—in the same way the likes of Amazon, Airbnb and Uber did into their industries—to improve all aspects of community living and property management and provide, in effect, a ‘one stop shop’ for everybody involved.
Indeed, the platform (and the easy-to-use mobile app) delivers exactly what the industry needs.
Where a new resident might have previously been bombarded with a pile of paper manuals and reams of information about their property…
Tribe allows all the insight and instructions to be delivered digitally through its app or accessed with ease online.
Likewise, where a resident in a newly built community spots an issue in their unit, they might have had to call someone out to inspect and assess the situation…
Tribe allows them to just take a photograph and send it to the property developer’s customer care team who can diagnose the issue while under warranty and dispatch the right person to sort it accordingly.
And where a resident or tradesperson might have previously had to search through a load of complicated paperwork or just guess at a specification, a kitchen fitting, or the color of a wall, for example…
Tribe’s app allows anyone to find all the specific details they need in a flash, making everyone’s life a whole lot easier in the process.
Indeed, the company’s platform and app have already proven to be extremely popular with the people using them. Close to three-quarters of people in existing buildings have already adopted the technology, and nearly nine in ten people in new buildings have too.
But, of course, the app isn’t just great news for those who use it.
It’s great news for Tribe’s bottom line as well.
You see, because the app and the platform itself are both designed to meet the needs of residents, real estate developers, and any other stakeholder involved in the community living eco-system…
Streams of revenue are generated from all those different parties, too.
Indeed, revenue is generated from owners and those involved in maintaining the community through a combination of software licensing and recurring management services provided by Tribe…
An additional stream of transactional revenue is generated by the various fees that are charged when landlords or residents use a service—such as banking or paying rent—through the platform…
And a third—potentially huge—source of revenue is generated from the provision of digital services and partnership offerings that the company can promote through the app.
In fact, it’s this third income stream that could perhaps be most exciting for Tribe in the future.
That’s because,as more and more companies realise the potential to connect with residents, owners, and condo boards through the company’s app, revenue from advertising and commission could soar.
And with North Americans spending some $90 billion in their homes every year…
This bucket of revenues could prove to be extremely powerful.
Getting ready to disrupt the market across the border
TRIBE PROPERTY TECHNOLOGIES INC. TSXV:TRBE
Given the effectiveness of Tribe’s technology for users and its potential as a multi-stream revenue generator, it’s no wonder the company has quickly been able to establish itself in the Canadian property management market.
As mentioned before, it’s already the sixth-largest operator, and it now manages more than $195 million of annual budgets on behalf of its communities, not to mention millions of square feet of both commercial, condo, and rental property.
But, as we pointed out before, Tribe nowhas its sights set on North America and the thousands of property management players currently stuck in the past.
The plan of attack is simple.
Because so many of the existing property management companies are ineffective and struggling to keep up with the market…
Tribe has devised a laser-focused M&A plan that will enable it to move quickly, pick up the failing company at service multiples, digitize the operation, and then streamline costs while adding new revenue streams.
The plan has already proven effective, with Tribe having made six acquisitions to date.
And more are on the horizon, with key North American cities such as Seattle, Los Angeles, San Francisco, Boston, New York, and Miami already earmarked as areas where Tribe’s platform and app could thrive.
As the company grows and its technology is more widely adopted, it’s a win for the industry, which gets the modern connectivity it needs….
But it’s also a win for Tribe, which will only see its revenue and reach soar as this growth unfolds.
Learn how Tribe’s end-to-end property management solution is majorly disrupting an outdated market – DOWNLOAD OUR EXCLUSIVE REPORT NOW!
An investor’s dream: getting in on a disruptor at the ground floor
Of course, as we’ve seen, Tribe is already beginning to disrupt the property management market—particularly in Canada.
But the reality is that the real change is only just getting started.
And so, in effect, what you’ve potentially got here is every investor’s dream…
Tribe offers a rare chance to claim a stake in a disruptor BEFORE the real disruption happens.
Like getting in on Amazon before it became the Amazon we know today, or investing in Uber when it was just an idea…
With a state-of-the-art product that solves a clear problem in the market…
With several already established streams of income…
And with a clear M&A plan to accelerate growth and increase reach…
Tribe looks like it has all the ingredients needed to disrupt its industry and become a dominant force.
Smart investors will move fast to be a part of this story as it does.
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