James Dearsley defines PropTech as “startups offering technologically innovative products or new business models for the real estate markets.” One of those markets is Portfolio Management where the current norm for PropTech developers is to offer data driven analytics engines with dashboard views (SmartSheet is an example of this). A client company is on the hook for entering their data and making the most of the regurgitated analysis before trying to figure out how to make plans with that data. What if developing a portion of that raw data plus implementing automatic and pre-planned measures were fused into one time saving solution?
XAP 360™ set out to create a sub-segment of PropTech focused on roofing technology for Portfolio Management that pairs data for budgeting with automated services and preventative maintenance. This unburdening took 3 major components; Unparalleled content generation, quality reporting with planning assistance, and continuity of service from certified regional providers throughout the United States.
Aerial Intelligence (AI) via autonomous drones is used to create snapshots in time from which actionable insights derive. An apartment or condo community with 250 units can generate thousands of pictures that are processed via cloud-based software to look for signs of weather damage and other pitfalls. A multitude of reports along with weather history are overlaid with a human roofing expert’s summary in an in-depth report. This cloud-based report is joined by work estimates and live interactions form actionable insights for teams looking for the best CapEx solution for their exterior needs. “Exterior” being the word that XAP is pivoting to as providers can care for more than just the roof and, as a whole, XAP will be expanding what their drones can do. Regardless, the drone inspection and report are generated 10 times faster than conventional means while delivering complete safety to the technician and roof, plus more accurate data such as measurements (99+% accurate).
The drone inspection plus human input that drive CapEx decisions are then carried out in any fashion the XAP provider has set up with their client. Service calls may be the typical interaction between the two parties, but it’s the major care, preventative and replacement, that make XAP an invaluable piece of PropTech.
XAP catches what others miss, provides 24/7/365 weather monitoring, and helps prioritize needs to fit budgeting structures. Asset management becomes less burdensome with an XAP partner to guide the way. “XAP summary reports are a crystal ball on the small table where both the roofing expert and the CapEx manager are seated”, says XAP co-founder Joey Michels. “When the two can gaze into the ball and see the same pitfalls. No more surprises. The major and most of the minor issues that spring up and blow holes in a PMs funding are exposed and dealt with.”
Greater automation, expanded services, and a sprawling network of providers are all that can be hinted at for now. What is certain is that there is almost no end to the possibilities that will arise in this niche market. Portfolio managers can expect to bolster their own value in having partnered with XAP to give them portfolio wide clarity. They can also expect XAP to find new ways to protect their capital.