Property managers got into the business to manage buildings and tenants, not reconcile accounts. Automation now handles trust accounting nightly or in real time, letting PM firms focus on what they actually want to do while staying compliant.
I think when it comes to accounting and reconciliation, there's a ton of automation capabilities there, and that actually also has a very real compliance implication because instead of doing reconciliations once every month, very reactive when you get audited, when a DRE auditor comes and say, hey, show me your books and bring the pull together on information. Now you can actually do trust accounting and compliance in like an automated, unreactive way, in a proactive way where you can actually just have the system reconcile like every night, where even in real time as transactions are clearing the bank. And I think that is actually a fairly massive unlock. Block because at the end of the day, when I talk to PM operators, no one really got into this business to be an accountant, right? Like folks love building the owner relationships, growing the door count, working with the tenants, and that accounting becomes actually a very core part of the overall workflows. And that's why we've seen a massive industry get built around third-party kind of specialized trust accounting firms for helping PM operators kind of handle the back office
