Mina Radhakrishnan from :Different is my guest in this episode. Mina is a serial entrepreneur with an enviable pedigree. She was both an early employee of Google and then Uber when it was just a startup. She landed on the idea of a property management proptech after she saw how much her father-in-law was paying to manage his investment property, the manual work that was involved, and the level of service he was getting.
Different is a true disruptor to the real estate business model in that it charges just a $100 flat fee per month to manage any property. And it has a keen focus on automation and processes to ensure that it can be a profitable business model.
(01:43): The :Different elevator pitch. (And a great example of how to do one!)
(02:25): Mina steps us through the data that illustrates the problem that :Different solves and why seeing information about your investment property once a month orquarter just isn’t enough.
(04:16): The key differences between :Different and a traditional property manager and the role of data.
(06:58): Mina’s background.
(08:50): Mina tells the story of how :Different came to be
(10:10): How :Different is direct to consumer with operations managers rather than PMs
(11:20): The role of automation and how Different leverage it to offer personal service.
(12:38): How :Different has grown and it’s team based approach.
(16:20): We dive into the flat fee. How do they do it?
(17:51): Mina discusses the disruption of the property management business model and why she thinks a lot of property management technology is focusing on the wrong thing.
(20:07): We explore how Different claims it has the best tenants.
(21:54): :Different’s very enviable response rates to maintenance requests.
(24:50): How Different manages the legislative risk of property management.
(27:48): :Different and Covid-19. This is a powerful insight into how tech-enabled businesses can be more flexible than traditional.
(31:10): How a tech-based centralised office manages physical aspects like inspections.
(32:05): How Different is working with traditional agents
(33:23): How different is collaborating with other tech providers.
(35:10): Mina discusses her biggest challenges as an entrepreneur – growth!
(37:13): Mina’s predictions for the next five years in real estate.
(38:14): The future for Different – it’s exciting for home owners!
Content marketing strategist, researcher, journalist and presenter specialising in the real estate industry. I'm passionate about proptech, digital disruption and all things property, big data, leadership and entrepreneurial ideas, have an MBA and specialise in social and digital media content creation and automation.