Happy National Entrepreneurs’ Day!
The United States is renowned as the most entrepreneurial country in the world, but it wasn’t until 2010 that there was a day set aside to celebrate the achievements of its dreamers and innovators.
National Entrepreneurship Week was first observed November 14-20, 2010, with November 19 earmarked as National Entrepreneurs’ Day. The holiday is the handiwork of David Hauser and Siamak Taghaddos, two entrepreneurs who lobbied for a nationally recognized celebration of the trailblazing men and women who built something from nothing, created jobs, and made America what it is today.
As the years have passed, the celebration has evolved and grown. On October 31, 2023, the President declared November 2023 as National Entrepreneurship Month and November 21, 2023 as National Entrepreneurs' Day.
WithMe is proud to celebrate this holiday, and it only seems fitting that we mark the occasion by highlighting the achievements of our visionary CEO, Jonathan Treble, and the entrepreneurial endeavor that brought WithMe to life.
Seizing an Opportunity
It was a blustery day in Chicago, with 10 inches of snow covering the ground, when Jonathan Treble needed to print concert tickets. To add insult to injury, it was the weekend. It took two hours, thirty dollars and one soul-crushing visit to Kinko's to get the job done.
The year was 2014. PrintWithMe didn’t exist, and mobile ticketing was far from the norm. Concertgoers everywhere were dealing with the same dilemma every day. Where other fans saw major inconvenience, Treble saw incredible opportunity. He set out on a one-man mission to make printing convenient for everyone, everywhere.
“After experiencing the printing problem a couple of times, I had a ‘lightbulb moment’ and realized that a network of pay-per-use printer stations would not only be feasible from a technology perspective, but also viable from a business perspective,” says Treble.
So, later that year, in July 2014, Treble bought a printer at Staples and coded a checkout system with the help of some friends. The rest, as they say, is history. What resulted was PrintWithMe, a self-serve, wireless printer station that allows users to print documents via email from any digital device.
Building a Customer Base
Two short weeks after crafting the PrintWithMe prototype, Treble found his inaugural champion in Eva’s Café, a cozy eatery situated near his apartment in Chicago’s Old Town neighborhood. Opting for a highly personal sales strategy, he boldly approached a shift leader (who also happened to be Eva’s nephew) about the possibility of placing a PrintWithMe kiosk in the café. Much to Treble’s surprise, his proposition was met with few objections, and the restaurant almost immediately agreed to partner with him. Their PrintWithMe device went live on August 1, complete with a ribbon-cutting ceremony officiated by Eva.
That initial interaction left Treble optimistic he could earn the trust of other Chicago café owners using the same direct and highly personal approach.
Inevitably, the enthusiasm of local business owners proved to be overwhelming. However, as with much new-to-market technology, consumer early adoption of the self-service, wireless printer stations was limited.
“I had to make some inferences that there was enough demand for the business model to work at scale,” explains Treble. “It wasn’t until about two years in that I saw a more robust level of demand and revenue from our first batch of apartment building customers.”
Innovating
As Treble began to work more closely with multifamily properties, he noticed a trend in property managers referencing printer amenity misuse and uncontrollable consumption. To address the issue, PrintWithMe developed proprietary Print Allowance technology that gives property managers the ability to set a limit on the number of free pages per resident, actively track usage and automatically charge residents when their allocations are exceeded.
In the words of Treble, the development and implementation of this technology was “one critical feature change that helped us not only survive, but thrive, as a company.”
Developing a robust client base in the multifamily space also brought about innovative additions to the PrintWithMe product mix. At the recommendation of Bob Flannery, one of PrintWithMe’s multifamily property executives, Treble began to explore the possibility of expanding the company’s services.
“Bob said the outsourced business model we had pioneered for printing services, where we completely managed and maintained the amenity, as well as developed custom software to suit the apartment building context, would perfectly fit coffee service as well.”
Upon further investigation, Treble identified striking parallels between mobile coffee and printing amenities in residential spaces. “They both involve hardware, a consumable supply of goods that need to be managed and a tendency for ‘abuse’ by select residents.” Thus, SipWithMe was developed, and the parent company, WithMe, Inc., was formed.
SipWithMe elevates the resident experience through reliable, easy-to-use technology, barista-quality beverages, and locally sourced coffee - all while helping properties decrease their spend, control costs and save time. The service incorporates the same groundbreaking allowance technology first introduced through PrintWithMe, giving owners and operators full control over resident usage.
SipWithMe was met with overwhelming response, and it is currently disrupting multifamily coffee in major markets all across the United States.
Building a Team
Visit the WithMe website or any of its social accounts, and you will quickly discover that culture is of the utmost importance. However, building that culture was a lengthy process. Determined to personally confirm his theory that PrintWithMe was best suited for a direct sales approach, Treble spent more than two years tirelessly canvassing Chicago on his own, often logging more than 80 hours of work per week.
Throughout the first four years of PrintWithMe, Treble built a small team of contractors and team members, but they all, admittedly, had a “work first” mentality, not unusual for a startup. Unfortunately, that mindset left little time or room for prioritizing culture. It wasn’t until years 4-6, when the team grew to 10, that Treble “started realizing that creating a genuinely positive culture would result in a competitive advantage and long-term benefits to the business.”
While eloquent words about culture may look impressive on a computer screen, the true indicator of culture lies in employee retention and satisfaction. According to Treble, “We truly live out the values we post on our website. We don’t just pay lip service to them. I have also found that newer employees (those who joined in the last 1-2 years) have self-selected to apply to WithMe because of our clearly stated values. They are, therefore, more likely to stay with us, which is a virtuous cycle.”
WithMe monitors Employee NPS twice per year, and satisfaction is consistently strong. Despite WithMe’s hypergrowth and the rise of negative employment movements like “The Great Resignation,” the company has also enjoyed relatively stable retention.
Learning and Growing
For those with entrepreneurial aspirations, Treble’s greatest advice is to voraciously consume literature. He believes in taking the time to identify subject areas that are a source of weakness or challenge – and then reading books at every comprehension level to gain a well-rounded understanding of each subject.
As Treble says, “Entrepreneurship is like an extreme sport. You need to rapidly learn new things merely to survive in an unforgiving environment.”
In addition to educating himself through books, Treble has also found podcasts to be crucial to his success. He cites The Marketing Book and Recruit Rockstars as two of the most influential in building WithMe.
Finally, Treble stresses the importance of finding steadfast mentors to help navigate the taxing and complex world of entrepreneurship. He counts Orazio Buzza at Fooda and Tim Thornton at PayPal as two of his greatest mentors.
As evidenced by Treble’s path to not only launch WithMe, but to continue to deliver new tech-powered convenience, entrepreneurship is a journey, not a destination. It requires continual self-evaluation, self-reliance, self-discipline and self-confidence.
Interested in learning more about Jonathan’s entrepreneurial journey? Connect with him on LinkedIn, where he regularly shares entrepreneurial insights and musings, and be sure to subscribe to his podcast, Multifamily Excellence, where he leads candid conversations with mutlifamily’s top minds.
At WithMe, we firmly believe a company is only as strong as its team.
In the inaugural episode of the "Multifamily Excellence" podcast, WithMe Founder and CEO Jonathan Treble interviews David Danish, SVP at LivCor, to uncover valuable insights on building high-performing and fully engaged teams.
Let's face it – employee turnover in multifamily is particularly high. Property managers, leasing agents and maintenance teams often face burnout and undervaluation, contributing to industry-wide labor concerns.
David's insights offer a roadmap to not only retain but also empower your team. Inspired by his philosophies, we've distilled four strategies for creating teams that endure the labor challenges of the multifamily industry and contribute to the long-term success and growth of your organization.
Onboarding: A Strategic Investment
Focus on creating a robust onboarding experience. Ensure new team members are exposed to the right individuals, relationships and skills needed for success. Initially, a detailed onboarding process is needed to ensure that individuals have the necessary tools and connections to do their job. Over time, acknowledge that the proximity to individuals' work during onboarding needs to wane for the team to grow and become scalable. Onboarding is a strategic investment in the long-term team and organizational success.
Empowerment and Trust
Hire individuals smarter than you. Treat team members as colleagues with different responsibilities, fostering a non-hierarchical atmosphere that respects ideas and empowers decision-making. Ask questions and encourage open dialogue to create a collaborative and inclusive environment.
Care-First Culture
Prioritize the well-being of team members by considering their personal lives and respecting their work-life balance. Show care through simple gestures like understanding meal breaks or accommodating different time zones.
Plus-Two Hire Philosophy for Scalability
Embrace the "plus-two hire" concept. Select team members who not only excel in their current roles, but also have the potential for two additional promotions. Assess every prospective new hire with the mindset of their long-term success within the organization, considering their ability to adapt and thrive in evolving roles. Acknowledge the role of the "plus-two hire" philosophy in sustaining rapid growth, especially during periods of expansion.
By prioritizing onboarding excellence, fostering empowerment and trust, embracing a care-first culture, and adopting a plus-two hire philosophy, you're not just building a team; you're constructing a path toward the sustained success of your organization.
Want to learn more about David's perspective on building high-performing and engaged teams in multifamily? Listen to the full episode on your favorite platform, and if you like what you hear, be sure to leave a review and hit subscribe so you never miss an episode.
LISTEN AND SUBSCRIBE
EPISODE SUMMARY
In this episode of Multifamily Excellence, you'll hear from David Danish, Senior Vice President of Revenue Management, Marketing, and Strategic Initiatives at LivCor, a Blackstone Company.
David shares insights on his multifamily career progression, from his first role at Nessel Development to the years he spent working his way up to an influential leadership role at RealPage. He emphasizes the importance of creating a people-focused culture and shares his unique approach to leadership that relies heavily on empowerment, inclusivity and authenticity.
He discusses the challenges and opportunities in transitioning roles, the role of data-driven decisions in business strategies and the significance of authenticity in leadership. David also touches on diversity in leadership and the demands of a fast-paced work environment, highlighting the importance of aligning with a company's core values for career fulfillment.
SUBSCRIBE
After months of planning and preparation, we are thrilled to unveil a project we have been working tirelessly on - our new podcast, Multifamily Excellence with Jonathan Treble. New episodes will be released monthly and can be streamed on all major podcast platforms, including Apple Podcasts, Google Podcasts and Spotify.
In each episode, host Jonathan Treble will lead an insightful interview with a world-class multifamily leader to discover how top minds in multifamily are continuously pushing the boundaries for excellence. Guests will provide perspective on their career journeys, share their personal leadership philosophies and offer strategies for achieving operational excellence.
The initial guest lineup includes multifamily leaders from LivCor, Trilogy Real Estate Group, The Habitat Company, XFD Real Estate Partners and Western Wealth Capital.
The inaugural episode of Multifamily Excellence is now available on all major podcast directories, and it features a candid conversation with David Danish, SVP of Revenue Management, Marketing, and Strategic Initiatives at LivCor. If you like what you hear, be sure to leave a review and hit the subscribe button.
Leadership in the multifamily industry is more than just a role; it’s a commitment to fostering excellence and innovation. Multifamily Excellence aims to explore the ever-evolving world of the multifamily industry while inspiring and empowering its leaders.
Here’s what you’ll get when listening to Multifamily Excellence:
Join us as we embark on a journey to achieving Multifamily Excellence!
Atlanta’s own Rev Coffee Roasters will be the multifamily proptech company’s exclusive roaster partner in the market.
Chicago - (November 1, 2023) SipWithMe is now available in the greater Atlanta area, giving multifamily properties access to an innovative bean-to-cup amenity featuring freshly craft roasted coffee from Rev Coffee Roasters.
Since 2021, SipWithMe has been elevating coffee for apartment residents across the United States - while simultaneously reducing operating expenses for multifamily properties by up to 60%. SipWithMe devices feature locally craft roasted coffee beans and can brew more than 20 roast-to-order beverages in under 60 seconds. Residents have the freedom to customize and order drinks through their electronic devices or using the machine’s built-in HD screen.
As SipWithMe’s exclusive roaster partner in Atlanta, Rev will be supplying devices with three hand-selected blends.
“Rev’s obsession with quality is the perfect complement to our core value of customer obsession,” says Jim Carbone, vice president of operations for WithMe, Inc., parent company of SipWithMe. “At SipWithMe, coffee isn’t just a beverage - it’s an experience. Our partnership with Rev is rooted in a shared vision of consistently delivering coffee of impeccable quality and serving a moment of joy in every sip.”
Some say a perfectly roasted batch of coffee does not exist, but Rev has been trying to prove that wrong since 2010. Sourcing, roasting and preparing coffee that pushes the boundaries of exceptional quality is an obsession for Rev.
“At Rev Coffee Roasters, we strive to roast the best coffee you have ever tasted. We do this with personality, NOT attitude,” says Nick Bimmerle, co-owner of Rev. “We're excited to partner with WithMe because we love the idea of anyone being able to enjoy a great cup of coffee. More importantly, a great cup of coffee that is easily made and consistently great!”
SipWithMe installation and service support will be provided locally by Al’s Coffee Services (ACS, LLC), based in Roswell, Georgia. Founded in 2020 by Al Herdandez, a coffee industry expert with over 15 years of experience, Al’s Coffee Services is committed to providing top-notch services with a focus on customer satisfaction.
In addition to Atlanta, active SipWithMe markets include Austin, Boston, Charlotte, Chicago, Dallas, Denver, Houston, Los Angeles, Madison, Milwaukee, Minneapolis-St. Paul, Nashville, New York City, Orlando, Philadelphia, Phoenix, San Francisco, Seattle, Tampa, South Florida and Washington, D.C.
About Rev Coffee Roasters
Rev Coffee Roasters was born and raised by a community that doesn't settle for “decent.” Sourcing, roasting and preparing coffee that pushes the boundaries of exceptional quality is an obsession for Rev - so it’s a good thing they have plenty of coffee around to keep themselves at it. Rev’s heavily caffeinated and perfectionist mentality toward coffee is in service to every bar in life that could be raised just a little bit higher. For more information about Rev Coffee Roasters, visit www.revcoffee.com.
About WithMe, Inc.
WithMe, Inc. makes people's lives better every day through convenient, technology-powered amenities for the multifamily industry and beyond. WithMe’s PrintWithMe and SipWithMe solutions make resident printing and coffee simple, helping property management leaders deliver an elevated living experience and meet evolving resident needs for remote/hybrid work spaces, while simultaneously decreasing spend, controlling costs and saving time for staff. PrintWithMe powers printer amenities and staff solutions at thousands of multifamily, cafe and coworking locations across all 50 states. SipWithMe, which is now available in major markets, is disrupting the coffee amenity category. WithMe is an Inc. 5000 fastest growing company, appearing on the list for the past three consecutive years. Learn more at www.withme.com.
Multifamily amenities provider makes exclusive list of B2B companies with proven track records of helping partner organizations level up.
Chicago - (October 31, 2023) - WithMe Inc., the leader in tech-enabled multifamily amenities, announces its inclusion on the prestigious 2023 Inc. Power Partner list. The distinction is a testament to WithMe’s customer obsession and dedication to providing exceptional service to its partners.
The Power Partner list is Inc.’s “coveted business-to-business seal of approval,” calling out top B2B companies with a proven track record of helping other businesses level up. The 2023 list includes 389 companies across 100-plus categories. The full list can be found here.
WithMe's commitment to driving success for its clients and delivering top-tier services has earned them this prestigious accolade. The methodology for award selection included NPS style client surveys. Independent of this award, WithMe regularly collects client NPS scores, and as of September 2023, both PrintWithMe and SipWithMe are rated as Excellent to World Class.
"We are honored to be recognized as an Inc. Power Partner,” said WithMe's founder and CEO, Jonathan Treble. “One of WithMe’s core values is customer obsession. We obsess over client feedback, think big to expand our impact and always seek to outperform client expectations. This award is a testament to the dedication and hard work of our team, as well as our unwavering commitment to providing innovative solutions to our clients."
Inc. is known for celebrating businesses that have achieved remarkable growth and success, and WithMe's inclusion in the Power Partner list is a reflection of their exceptional performance in the multifamily industry.
About WithMe, Inc.
WithMe, Inc. makes people's lives better every day through convenient, technology-powered amenities for the multifamily industry and beyond. WithMe’s PrintWithMe and SipWithMe solutions make resident printing and coffee simple, helping property management leaders deliver an elevated living experience and meet evolving resident needs for remote/hybrid work spaces, while simultaneously decreasing spend, controlling costs and saving time for staff. PrintWithMe powers printer amenities and staff solutions at thousands of multifamily, cafe and coworking locations across all 50 states. SipWithMe, which is now available in major markets, is disrupting the coffee amenity category. WithMe is an Inc. 5000 fastest growing company, appearing on the list for the past three consecutive years. Learn more at www.withme.com.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate and elevate the profile of our community: the risk-takers, the innovators and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
Two years ago, with coffee legend Jim Carbone at the helm, WithMe embarked on a mission to elevate multifamily coffee.
Join us as we take a closer look at our brew-tiful journey!
How It Started
Creating SipWithMe was no small feat.
One of the hallmarks of SipWithMe’s sister amenity solution, PrintWithMe, is pioneering technology that allows multifamily owners and operators to set limits on the number of free prints residents receive each month.
Naturally, we wanted to integrate that same powerful and valuable functionality into our coffee amenity solution, so we we partnered with one of the world's leading bean-to-cup brewer manufacturers to help bring our vision to life. Together, we created a powerful solution tailored to the unique needs of multifamily.
But creating the ideal brewer was just the beginning of our vision. Determined to raise the bar on multifamily coffee even higher, we set out to find a way to deliver multifamily properties the freshest coffee of the highest caliber. Ultimately, we determined the ideal way to do that was to partner with a local vendor in every market.
To do this day, we take great pride in sourcing all of our coffee beans from local craft roasters. Not only do these partnerships help us guarantee quality and freshness, they directly support the communities we serve. Each of our roaster partners plays a pivotal role in ensuring that residents consistently enjoy the finest SipWithMe beverages.
Because our brewers are able to craft more than 20 different beverages, we also had to ensure all additional ingredients matched the caliber of our craft roasted beans. We carefully sourced the most delectable premium cocoa and vanilla flavors on the market, and our real non-fat milk powder froths up so perfectly, it’s like a barista did it.
Our final goal for SipWithMe was to solve the variable cost of multifamily coffee amenities. And we succeeded. The average cost of a coffee amenity ranges anywhere from $1,000 to $4,000 per month - with many premium programs boasting price tags much greater than that. Our innovative Cup Allowance program offers a cost-effective solution, helping properties reduce their coffee operating expenses by up to 60%.
WithMe is headquartered in Chicago, and Jim lives in the nearby suburbs, so we set our sights on the Windy City for our launch. Jim, the consummate coffee connoisseur, leveraged his strong relationship with Metropolis Coffee Company to bring them on board as our first roaster, and it proved to be the beginning of a beautiful relationship.
We installed our first machine at Hubbard Place, in Chicago’s River North neighborhood, on October 28, 2021.
But it hasn’t always been smooth sailing.
For example, because our machines need to be online constantly, poor cell reception and unreliable Wi-Fi concerns presented significant challenges in the early stages of SipWithMe. Thankfully, we devised solutions that have helped to overcome that hurdle.
No matter what obstacles our team faces, we always work quickly and diligently to find solutions, and we continually look for opportunities to improve and perfect our service.
How It’s Going
Over the past two years, we've achieved remarkable growth. By the close of 2023, we’ll have roughly 200 machines across 15 different cities, with ambitious plans for further expansion. By the close of 2024, we aim to expand our presence to over 25 markets and have more than 400 machines in operation.
We routinely survey our SipWithMe partners, and in 2023, we have earned a “Great” NPS score of 60. We’ve also seen incredible usage rates, with 51.7% of units using SipWithMe at least once per year.
As we celebrate SipWithMe's second anniversary, we look back on the challenges we've conquered, the milestones we've achieved and the vision that propels us forward. Our journey has been marked by innovation, collaboration and the pursuit of excellence. Here's to two years of SipWithMe - and many more to come!
In the world of multifamily coffee, where the art of brewing meets the demands of modern living, one name stands out as the trailblazer of innovation – Jim Carbone.
With an illustrious career spanning multiple decades and multiple businesses, coupled with a deep-rooted passion for the coffee industry, Jim can undoubtedly be dubbed “the most interesting man in multifamily coffee."
Let's delve into Jim's fascinating journey through the world of coffee, from his early days in the vending business to his current role at WithMe, Inc.
Jim's fascination with coffee began at a very young age, and throughout his teenage years, he worked for a family-owned vending business. Captivated by the intricate process of cleaning, filling and maintaining the coffee machines, Jim’s love for coffee only continued to grow, and he spent the first decade of his career in the retail space.
Jim’s enterprising spirit eventually led him out of retail and into the world of owning and operating his own businesses. From a convenience store to an equipment distributorship to an amusement company specializing in video games, Jim tried his hand at a variety of entrepreneurial pursuits.
But he always came back to coffee.
Jim successfully launched three different coffee vending services, but it was his final venture, Tradecraft Outfitters, that cemented his status as an iconic coffee connoisseur.
Tradecraft aimed to revolutionize craft coffee distribution - and ended up taking it to a level previously uncharted. In partnership with the country’s top roasters, Tradecraft distributed a wide array of coffee and beverages to businesses nationwide.
They helped corporations (including Yelp and Google) set up everything from simple coffee programs to full-fledged barista-run coffee bars. They dabbled in hospitality, offering their services to fine dining establishments and cafes. They were instrumental in opening hundreds of cafes and coffee shops across the United States.
With Jim at the helm, Tradecraft ended up being so wildly successful, it sold to UK-based Compass Group, the largest food service company in the world. Jim remained involved as the National VP of Business Development until he retired in 2020. The company is still going strong to this day.
Jim’s retirement was short-lived. In 2021, he was coaxed back into the coffee world by Jonathan Treble to embark on a new venture - SipWithMe.
So, what led Jim to dive back into the coffee world with SipWithMe? It gave him the opportunity to use his extensive entrepreneurial experience and carefully cultivated industry relationships to create something truly unique for the multifamily industry. SipWithMe aimed to transform the coffee experience for residents, providing a sense of excitement and delight every morning.
The most rewarding aspect of multifamily coffee, according to Jim, is the enthusiasm people have for their daily cup of joe. SipWithMe brings an elevated coffee experience to residents, making that daily ritual even more enjoyable.
When asked about his favorite SipWithMe beverage, Jim admitted that he starts his day with a good, strong cup of black coffee, but after a few cups, he likes to indulge in a vanilla coffee – a testament to the quality and variety that SipWithMe offers.
Jim Carbone's journey in the coffee world exemplifies the power of passion, innovation and a strong commitment to providing people with an exceptional coffee experience. With SipWithMe, he is not only making mornings brighter, but he’s also shaping the future of multifamily coffee for communities across the United States.
Jim Carbone is, without a doubt, a true coffee connoisseur and the most interesting man in multifamily coffee.
The month of October is a celebration of all things spooky and scary.
Ghosts.
Ghouls.
Goblins.
Cyber threats?
Halloween may be October’s most infamous holiday, but there’s another noteworthy occasion that also deserves your attention - National Cybersecurity Awareness Month.
Between the recent onslaught of data privacy legislation and the vulnerabilities introduced by the explosive growth of AI, you’ll be forever haunted if you fail to adequately protect the sensitive data in your possession.
To help multifamily operators avoid a data privacy nightmare, WithMe hosted a webinar led by two renowned data privacy attorneys - Lisa Angelo and Kaylee Cox Bankston. The pair discussed the current legislative landscape, the implications of AI and strategies for managing risks.
Here are seven key takeaways.
Multifamily operators are not immune to cyber risk.
Read that again.
Historically, the multifamily industry has fallen under the radar when it comes to data privacy and security matters.
But, whether you realize it or not, the automation, smart home technologies and tech-enabled amenities that have gained popularity in recent years gather an incredible amount of data about individuals that could be considered sensitive - where people live, what their habits are, where they are and when.
Further complicating the matter is that these “smart” services and amenities are typically provided by third parties. If you're not fully aware of how your vendors and subcontractors are using the data collected by these technologies, you’re putting yourself at risk.
CCPA is the current gold standard.
Multiple states have already passed or are in the process of passing data privacy laws - but with no uniformity or consistency (for more on this topic, read our recent white paper). There are rumors of a federal bill, but in the interim, the California Consumer Privacy Act California is the gold standard, as it is the most strict and comprehensive. If you operate in multiple jurisdictions, the simplest way to guarantee compliance is to meet all CCPA standards and tweak accordingly per state.
REITs should take note of new SEC cybersecurity rules.
The recently finalized rules are a disclosure requirement. They don’t mandate what specific security controls companies must have in place. Instead, they dictate what companies must disclose about their programs in the event of a material cybersecurity incident.
Additionally, there are also disclosure requirements on the risk management and governance side. There's a requirement that companies explain how they are approaching, managing, monitoring and overseeing cyber risk. It’s unlikely companies will need to describe every nuance and detail of their program, but it does have to reflect the actual structure of the organization and the way it is managing cyber risk.
The actual effect of the SEC rules will likely be to drive more comprehensive risk management structure.
AI legislation is looming.
AI has already proved to be a powerful tool to increase efficiency. However, in light of the reactive approach we have seen by regulators in terms of cyber and privacy regulation, they are aggressively trying to get ahead of the regulation of AI.
Proposed AI legislation takes a risk-based approach. Regulators want to see responsible use and a calculated decision around what level of risk is acceptable in the use and development of AI technologies. They are looking closely at instances where AI could have a significant impact on people's lives and potentially lead to harm (i.e., loss of life, bias, discrimination).
For example, in a move directly adjacent to multifamily, the DOJ civil rights division recently filed a statement of interest explaining that the Fair Housing Act applies to algorithm-based tenant screening services. That being said, as you're looking to leverage various technologies to make your processes more efficient, be mindful of how they are being developed and deployed, because there are clear statements from existing regulators stating they believe existing laws around protection of discrimination and bias would apply to these technologies.
The takeaways? As you're engaging with different companies and investigating how they're using AI, ensure they're not being deployed in a way that could be perceived or have the effect of discriminatory impacts.
Develop a thorough understanding of how personal information is being processed in your business.
One of the most straightforward ways to manage cyber risk is data mapping and developing an understanding of how personal information is processed in your business. How does it come in? Where does it go? How is it being used? How does it exit?
Not only will data mapping help you clearly identify all third parties that are processing data for you, it will also help you with compliance, allowing you to pinpoint where you have gaps that need to be filled.
Document your due diligence. Question everything.
If a vendor says they're not using personal information, don’t take that at face value. You still need to form your own conclusions.
Proposed regulations include increased expectations around taking ownership and accountability for vendor management and appropriate diligence. Take the time to carefully document the diligence procedures you follow for each vendor.
Resident printing is a hidden and significant source of risk in multifamily.
If residents are emailing documents to staff members, there’s no way to prevent information from being viewed, distributed or retained.
As reported by The Washington Post, a frightening number of third-party printing services are reading, storing and selling confidential user information.
One of the only printing services that is transparent about its data collection practices is PrintWithMe. Multifamily’s first secure amenity solution, PrintWithMe is compliant with data privacy laws, including CCPA.
For more scary good information on cyber risk management, watch the playback of the webinar here.
The 2023 OPTECH Conference & Expo, hosted by The National Multifamily Housing Council, is the hub for the most important conversations and business deals in multifamily housing technology and operations. The annual event boasts brilliant keynote speakers, exceptional educational sessions, informative workshops and numerous networking opportunities.
To help you make the most out of your time at OPTECH, we’ve put together 6 tips to ensure you maximize your time and have a great experience:
1. Download Brella, NMHC’s new state-of-the-art conference networking app.
Brella, NMHC’s new conference networking app, is available for iOS and Android. Brella will allow you to seamlessly connect with other OPTECH attendees through the power of AI matchmaking.
OPTECH join codes will be sent according to the following schedule:
You can also look up your join code by tapping the "ticket" icon on the sign in/welcome screen in Brella.
Brella networking tables will be open from 8:30 a.m. - 5 p.m. on Thursday, November 2.
2. Carefully review this year’s conference agenda to identify programming that will help you take your unique operations and technology playbook to the next level.
Opening Pitches
From 2:30 p.m. - 3:30 p.m. on Wednesday, November 1, hear short pitches highlighting the latest innovative multifamily products and services.
Town Halls
From 3:45 p.m. - 5 p.m. on Wednesday, November 1, choose from three insightful town hall events that will delve into the latest original research from NMHC and its partners.
Topics include:
General Sessions
From the reveal of insightful data to thought-provoking presentations by forward-thinking leaders, this year’s general sessions cover some of the industry’s most important and most talked about topics, including:
Breakout Sessions
These 45-minute sessions allow you to take a deep dive into specific topics and participate in informative and interactive Q&As.
Topics include:
Workshops
New for 2023, OPTECH workshops are quick, 30-minute sessions loaded with takeaways.
Topics include:
Breakfast Briefings
On Thursday, November 2, from 8:30 a.m. - 9:15 a.m., start your day with an informative update on the constantly shifting regulatory and legislative landscape.
Topics:
3. Recharge (literally and figuratively) at the OPTECH Exchange.
Designed as a sanctuary to network and recharge your devices, the Exchange will feature a lounge with cozy seating, refreshments and Wi-Fi connectivity, as well as a stage featuring short presentations on the following topics -
Exchange Hours
4. Study the interactive expo floor plan and prioritize which vendors and suppliers you want to meet with.
Create a prioritized list of the booths you want to visit so you can maximize your time at the Expo and avoid overlooking solutions that are of the most interest to your business. Dedicate time for meaningful conversations with vendors that interest you. OPTECH is multifamily’s foremost forum for innovative tech, and you are guaranteed to uncover new products and services that can help you elevate your property and add significant value to your business.
Expo Hours
Be sure to visit the WithMe team at booth 332 to fuel up with a cup of delicious SipWithMe coffee, check out a PrintWithMe device and find out how our amenities can help you decrease spend, control costs and create efficiencies - all while elevating the resident experience.
Feel like doing a little recon before OPTECH? Browse the LinkedIn profiles of everyone from WithMe who will be attending:
5. Viva Las Vegas!
After hours, immerse yourself in the glitz and glamor of the Entertainment Capital of the World!
See the sights:
Catch a show:
Enjoy world-class dining:
For even more ideas, check out TripAdvisor’s 3 Days in Las Vegas city guide. It’s almost as if it was curated for OPTECH attendees!
6. Don’t let what happens in Vegas stay in Vegas.
Leverage the opportunity to grow your multifamily network!
Exchange contact information with the professionals you connect with during the conference and at networking events - and make it a point to stay connected! Interact with social media posts. Schedule 15-minute “coffee chats” over Zoom. Make time to build relationships.
Also be intentional about scheduling conversations with suppliers and vendors who you think can help add efficiency and drive more value for your business! After all, OPTECH was designed to showcase simplified, integrated, sustainable tech for better performance and communities.
We can’t wait to connect with you November 1-3 in Las Vegas!