The National Apartment Association (NAA) Apartmentalize conference is just around the corner, and I’m excited to attend for the first time. When I reviewed the agenda for great break-out sessions, “Question Everything! Multifamily Disruptors Needed” caught my attention. The session’s description declares the need for the multifamily industry to:
- Step away from tradition
- Embrace new ideas
- Question traditional business models
Identifying Industry Pain Points
As I was reading the session description, I started to ask myself: Disruptors can challenge traditional business models, but don’t we first need to be clear on industry pain points? What are we trying to “disrupt”?
Just recently, Equifax conducted research with over 200 property managers. As a result, we learned some of the industry’s biggest pain points:
- Thin and/or limited credit histories of potential tenants
- Verifying employment and income
While we had been hypothesizing that these were likely pain points, we weren’t certain. So we were pleased when our research validated the direction of our solution development.
Using Data to Disrupt
In conclusion, I realize that Equifax is a well-established company known for credit reports and traditional credit solutions. But we too are industry disruptors. In fact, we’re develop new ways to use data and insights to help solve problems.