Tim Berger, Senior Vice President, Information Technology, Fogelman
JAY ADKINS
Tim Berger
What emerging technologies are having the biggest impact on the multifamily industry today?
Thoughtfully implemented AI is having a significant impact across the multifamily industry, especially now as the ability to do more with less is critical in times of economic uncertainty. We’re leveraging AI tools to service basic prospect and resident questions, detect anomalies in financial transactions and applications, and proactively predict when maintenance issues are likely to occur. The use of AI improves the level of service we can provide to residents and frees up the on-site teams to focus on other priorities. Additionally, more advanced fraud detection systems have proven helpful in ensuring appropriately qualified applicants are approved, which has a direct impact on the bottom line.
What are some of the most promising proptech solutions you’ve recently adopted or are considering?
We are continuing the broader implementation of a fully integrated unit entry and access control system, which will have a wide range of benefits to the resident and the on-site team. A single credential for residents to access all common areas of the community and their unit streamlines their experience and provides peace of mind. For the on-site team, automated provisioning and deprovisioning of residents based on their status in the property management system ensures that only leaseholders are given access to the community. Overlaying this with smart-home technology, including sensors and thermostats, provides the maintenance team with the added benefit of getting ahead of significant maintenance issues related to mold, leaks, and various other situations.
How do you ensure seamless technology integration across a diverse portfolio of properties?
Our technology team partners with all areas of the business early in the discovery process of new platforms and technologies. We outline critical technology and security requirements and are flexible enough to pivot and be creative when necessary. This approach helps unify platforms, drive efficiency, and improve the user experience by ensuring all systems work together smoothly.
For example, as we expanded our business intelligence (BI) and reporting offerings, we engaged with all reporting data consumers early and often in the process. This collaboration allowed our subject matter experts to create the most agile and efficient outcome for our users, ensuring seamless integration and maximum value across our portfolio.
Additionally, as we bring on new ownership partners, we take the time to understand their existing technology and operational needs, along with any contractual obligations. While our goal is to maintain a unified technology stack, we recognize that some partners may prefer ancillary systems based on historical use. In these cases, we make reasonable accommodations while demonstrating the value of the primary tech stack we deploy. Often, we can showcase the advantages of transitioning to the technology we support across our owned assets, reinforcing consistency and efficiency across the portfolio.
What strategies do you use to future-proof your tech stack in a rapidly evolving digital landscape?
One way we future-proof our tech stack is by avoiding significant customization of off-the-shelf products. Once significant customization is made to core functionality, the ability to update the underlying technology could be negatively impacted. Additionally, customization makes changing vendors or technology more difficult, which can inadvertently lock you into a product that lacks innovation. We also maintain strong vendor relationships so we can stay informed about upcoming updates, new features, or shifts in technology that could impact our systems. Regularly providing feedback to our vendors ensures they remain proactive in advancing their products.
How are you managing the rising costs of implementing and maintaining new technologies?
We start by formally assessing the technology already deployed across the organization. In our industry, it is common to have multiple competing tools with similar capabilities, so we prioritize streamlining our tech stack to eliminate redundancies. It is also important to have a seat at the table when solutions are proposed or vetted across the organization because once a team or business unit has adopted a tool, it is more challenging to ensure it aligns with technology and business needs.
To manage rising costs, we also focus on leveraging technology to scale efficiently without compromising quality. By using data-driven decision-making, balancing automation with human interaction, and targeting the most receptive audience, we optimize operations, reduce inefficiencies, and drive operational excellence.
What are the biggest barriers to technology adoption in multifamily, and how do you overcome them?
The main barriers to adopting technology in multifamily are high costs, uncertain return on investment (ROI), and lengthy decision-making processes. To overcome them, we aim to reduce financial barriers through comprehensive analysis upfront, offering clear projections of financial impact and speeding up the evaluation process. Additionally, we define goals and objectives for every project that can be easily monitored and reviewed regularly by the project team.
How are you leveraging data analytics to optimize asset performance and decision-making?
We leverage data analytics to significantly enhance asset performance and decision-making in multifamily by providing actionable insights and optimizing various aspects of property management and investment. Tracking KPIs such as net operating income (NOI), cap rate, and cash-on-cash return allows us to assess an asset’s performance and identify areas for improvement. Analyzing rental trends, occupancy rates, and demographic data helps us understand market conditions and make more informed decisions about pricing and marketing strategies.
We also use resident preference and behavior data to shape our decisions on amenities and services, improving resident satisfaction and retention. At Fogelman, every business unit actively analyzes data, while our technology team ensures data integrity and maintains accessible, user-friendly platforms for analysis.
With increasing cyber threats, what best practices are you implementing to ensure data security and protect resident information?
Fogelman’s best practices for ensuring data security include comprehensive risk assessments, establishing a strong security policy framework, implementing access controls and encryption, and regularly updating and patching systems. These measures help safeguard our sensitive data and comply with regulatory requirements. In addition, we educate the on-site teams on how to handle personal identifiable information (PII) securely, which is critical to protect our residents, prospects and vendors.
If you had unlimited resources, what’s one technology you would implement across all multifamily properties today?
The answer varies based on the hat I am wearing on any given day. From a network security and infrastructure perspective, I would deploy a consistent network, security, and telecom stack to each property with the highest level of security features available. From a data analytics perspective, I would target deploying a fully integrated data warehouse that is kept up to date in as close to real time as possible to ensure we can leverage our reporting platforms in the most efficient manner possible. Operationally, I think there is huge value and potential in leveraging a centralized model for duties that require the most administrative effort for the on-site teams. Layering in advanced AI solutions and fraud detection technology as part of that effort allows the on-site teams to focus on the property, residents, and prospects, resulting in a more customer-focused environment.
