Month: October 2024

We are excited to announce that Spike has been shortlisted for the PropTech Innovation category at the prestigious News On The Block Property Management Awards (PMAs) 2024. This nomination celebrates our commitment to driving technological innovation within the property management sector, recognising Spike as a leader in transforming property operations and resident engagement through our revolutionary technology solutions.

A Year of Innovation and Excellence 

Over the past 12 months, Spike has focused on driving efficiencies, enhancing communication, and ensuring compliance across the property management sector. We are proud to be trusted by over 100 property management companies worldwide, serving more than 100,000 residential units. In 2024, we launched a significant software upgrade, making our market-leading resident engagement platform, Spike Living, even more user-friendly, allowing property managers to streamline day-to-day operations, automate manual tasks, and gain greater visibility over building safety and resident engagement.

Spike Living has helped clients reduce communication time by 89% and time spent on repetitive tasks by 76%. With an average 87% adoption rate of our resident app, we are leading the way in transforming the property management experience, delivering tangible results to our clients.

Shaping the Future of Property Management 

Spike’s platform is at the forefront of innovation, enabling property professionals to automate routine processes, centralise data, and significantly improve their operational efficiency. By integrating with finance, CRM, and maintenance systems, we offer a holistic view of property management operations. With Spike, tasks like service charge updates, defect reporting, and fire safety communications are simplified, and essential information is accessible to residents, ensuring compliance with the Building Safety Act 2022.

The industry’s adoption of technology is critical, and Spike is proud to be part of the movement that helps property managers modernise their operations and create safer, more engaged communities.

Leading the Way in Resident Engagement and Compliance 

Our technology is not just about improving efficiency; it’s about creating stronger, more transparent relationships between property managers, tenants, and leaseholders.

As the Hackitt inquiry highlighted, the lack of access to safety information and poor engagement with residents can have severe consequences. Spike Living ensures that building managers remain compliant, while also giving residents the tools they need to manage their own properties effectively.

With Spike, property professionals have the technology they need to meet today’s challenges, while preparing for the future of the property industry.

Celebrating Industry Achievements 

We are incredibly grateful to the judges for considering Spike for this award and recognising our contribution to the industry. The award ceremony will take place on 21st November 2024 at City Central, at the HAC, and we look forward to celebrating the achievements of the sector alongside the most forward-thinking companies in property management.

For the full award shortlist, click here. 

Thank you once again for this honour, and we look forward to continuing our journey of innovation and excellence in the property management industry.

Last Sunday, team Spike joined thousands of runners for the annual Run Bournemouth 2024 event, with Jack, Aaron, and Ben taking on the Supersonic 10k route. The race started at Hengistbury Head and ended at the iconic Bournemouth Pier, with our team powering through the scenic coastal course – all in the name of raising awareness and funds for Hope for Food, our Charity of the Year.

At Spike, community is at the core of our values, and supporting charities like Hope for Food is a natural extension of that commitment. Hope for Food is a charity close to our hearts because of the vital services they provide to individuals and families in need. Their work ensures people have access to meals, food parcels, clothing, and basic household items, giving hope and dignity to those facing hardship. We are proud to support their mission, as it aligns with our dedication to building strong and supportive communities.

Participating in this event wasn’t just about crossing the finish line, it was about running with purpose; to make a tangible impact on our community and support those in need within our local communities. Hope for Food tirelessly works to combat food insecurity, and by running this race, Jack, Aaron, and Ben aimed to make a meaningful contribution to their efforts. 

We couldn’t be prouder of their dedication and hard work in training and running the 10km. Taking on the challenge wasn’t easy, but their strong performances, combined with their commitment to the cause, made their efforts even more impactful.

We’d also like to extend a massive thank you to everyone who has donated so far. Your contributions directly support Hope for Food’s mission, and if you haven’t had the chance yet, there’s still time to get involved. Every bit helps make a difference to those facing hardship in our community. You can donate through our JustGiving page here.

In today’s fast-paced, tech-driven world, property management is evolving. As landlords get younger and tenants increasingly rely on apps, the need for a tenant and leaseholder app has never been more critical. Property managers must adapt to these shifts to streamline communication, improve efficiency, and meet the rising expectations of tech-savvy landlords and tenants.

Here are 4 reasons why property managers should be looking to introduce a leaseholder app into their business:

1. The Changing Demographics of Landlords

The average age of landlords acquiring new rental properties with buy to let mortgages has fallen over the past decade, driven by strong growth in the proportion of landlords in their 30s. Paragon Bank analysis of industry data shows that the average age of buy to let landlords acquiring new property with a mortgage fell from 46.4 years of age in 2014 to 42.9 last year. The reduction in age has been driven by the proportion of purchases amongst landlords in their 30s increasing over the period. In 2014, 21% of purchases with a buy to let mortgage were made by a landlord in their 30s, compared to 31% last year.

Millennials and Gen Z landlords have grown up with smartphones and are accustomed to handling nearly everything via apps – from banking, organising their social life to shopping. They are increasingly expecting the same ease and efficiency when managing their properties. They no longer want to rely on traditional methods such as emails, letters, or phone calls to Instead, they seek the convenience of handling everything from a single, user-friendly app, with over 80% believing that apps are a convenient or must-have feature for property managers. 

2. Real-Time Communication and Responsiveness 

Property managers are responsible for managing a property owner’s assets. As such, open communication becomes key when it comes to updates on the condition of the property, financial reports and other key details. This also helps establish a sense of reliability and trust between property owners, property managers and tenants.

One of the key benefits of having a leaseholder app is the ability to send and receive messages in real-time, whether it’s an urgent maintenance issue or a general update on upcoming works, property managers can quickly communicate this information with the knowledge that its much more likely that their message will be seen. Whilst emails typically have a 20% open rate, push notifications typically have anything from 50% to 95% open rate.

In addition, for leaseholders, this means they no longer must wait on the phone or send an email into the void, hoping for a response. They can submit requests, ask questions, and receive updates via their app instantly. By keeping owners informed, you can make them feel reassured in your ability to professionally manage their investment.

3. Centralised Management

Providing a platform that leaseholders can easily access empowers them to self-serve and obtain key information independently. This includes frequently asked questions, fire safety procedures, and the latest community news. With all this information readily accessible, leaseholders can often find what they need without having to contact their property manager. Furthermore, Spike’s solutions offer transparent insights into financial transactions, allowing leaseholders to view detailed service charge statements and transaction histories, which ensures clarity and accountability in financial matters. Additionally, they can also make service charge payments electronically, further enhancing transparency and convenience.

4. Increased Efficiency for Property Managers

Efficiency is the cornerstone of good property management, and instead of juggling multiple platforms like email, text, or phone calls, having a single app in place can provide a unified system. It allows property managers to track all conversations and requests, ensuring nothing falls through the cracks. This reduces administrative burdens, freeing up time for more strategic tasks.

Furthermore, Spike automates many of the manual and time-consuming tasks that a property manager must perform, such as sending out service charge statements reminders, inspection reports, and other important documentation, saving time and reducing the administrative workload.

As Spike maintains a clear audit trail of correspondence, with all activities logged against a property, resident and leaseholder, this forms a key part of the golden thread, helping property managers comply with the record-keeping requirements of the Building Safety Act 2022. This ensures that every interaction is documented which can be used as evidence in case of future disputes.

Summary

As the property management landscape continues to evolve, property management apps are no longer a luxury—they’re a necessity. With younger landlords embracing technology and residents relying on apps for their day-to-day interactions, property managers must adapt to stay competitive.

A leaseholder app improves communication, increases efficiency, and fosters a sense of community, making it an essential tool for modern property management. Embracing this technology is not just about keeping up with the times; it’s about creating a better experience for both leaseholders and property managers. 

We are delighted to share that Spike has been nominated for the Supplier of the Year (Technology) – Apps award at The Negotiator Awards 2024!

This nomination is a testament to our dedication to delivering innovative solutions that address the most pressing challenges in property management today. By streamlining processes, improving compliance, and elevating tenant engagement, Spike is not just a technology provider – we’re a partner in creating safe, connected, and vibrant communities.

Tackling the Challenges in Property Management

The property management landscape is facing unprecedented challenges due to recent changes in building safety legislation, evolving tenant expectations, and the increased emphasis on community engagement. At Spike, we understand that property managers are juggling complex tasks – whether it’s ensuring compliance with regulatory changes, fostering a sense of community, or maintaining seamless communication with tenants and leaseholders. 

A recent survey by the Health and Safety Executive found that only 50% of tenants are satisfied with their building management companies. This statistic highlights the pressing need for improved communication and transparency, and it’s an area where our solutions have made a significant impact. 

How Spike Are Addressing Current Needs

Our solutions are designed to address the most pressing challenges in the industry. Here’s how our solutions stand out:

1. Compliance with Building Safety Legislation: Spike’s platform offers property managers full visibility of every tenant and leaseholder within a building, making it easier to stay compliant. 
2. Enhanced Communication: Communication breakdowns have long been a pain point in the sector. With Spike’s tenant portal, we have achieved an impressive 87% uptake across our client base, allowing for effortless, direct communication via push notifications and real-time updates. This ensures that tenants and leaseholders receive essential information promptly and have access to a self-service platform, reducing the need for direct contact. 
3. Automating Manual Processes: Property managers often spend up to 288 hours annually on repetitive tasks, such as service charge notifications and defect reporting. Our system automates these tasks, resulting in an 89% reduction in communication time and a 76% decrease in time spent on repetitive processes, freeing up managers to focus on delivering exceptional service. 
4. Centralised Data and Integration: Spike integrates seamlessly with finance, CRM, and maintenance systems, providing a single, unified view for property managers. This centralised approach not only enhances operational efficiency but also strengthens the golden thread of information, ensuring that all data is easily accessible and up-to-date.

Summary

As we continue to adapt and develop our solutions, we remain committed to supporting property managers, tenants, and leaseholders with solutions that not only meet their current needs, but also anticipate future challenges. Our focus on combining technology, community engagement, and regulatory compliance ensures that we remain at the forefront of property management. 

As we eagerly await The Negotiator Awards gala dinner at the Grosvenor House Hotel, London, on 29th November 2024, we extend our gratitude to the judges for recognising Spike’s contributions to the industry.

Congratulations to all the finalists who made the shortlist! We’re looking forward to an exciting night celebrating innovation, excellence, and the future of the residential property industry.

See the full shortlist here.