Property managers are drowning in work. AI tools embedded in platforms like Rentvine can automate accounting and marketing tasks, freeing up their time. As AI handles more, vertical SaaS companies will expand beyond software into services, capturing a bigger slice of the 1-2% budgets PMs currently spend.
We're definitely excited about AI in this sector. Property managers are often overworked, and so hopefully leveraging some of these AI tools will help give them more time back to do what they enjoy doing. We see ways to embed it into the Rentvine product to just drive efficiency, whether that's accounting workflows or something like that. PMW is using it a bit to help with the marketing and SEO. Longer term, we see AI kind of allowing these vertical application software businesses to go deeper. So where today software budgets maybe 1-2% of customer revenue. We see that expanding into services and other workflows as they take on more and more work. So it'll be interesting to see how this all plays out.
