Proprietary Tech Platforms Modernizing the Sector
With Silicon Valley as a backdrop, Veritas has pioneered the use of technology to scale and operate mid-to-small-sized apartment buildings. Our proprietary tech stack is as unique and specialized as our apartment portfolio, supporting sustainability, driving growth and profitability, and delivering best-in-class digital service amenities to our residents.
The vast majority of third-party property technology (PropTech) tools are designed and priced for national firms and real estate trusts that focus on large apartment buildings. Necessity being the mother of invention, Veritas has designed a custom, in-house technology ecosystem tailored for our smaller-sized buildings in highly regulated markets like San Francisco.
Through additional strategic partnerships with PropTech start-ups via our Veritas Innovations division, the company’s tech platform has elevated our sector with an innovation- and data-centric philosophy that benefits our investors, employees, residents, and local communities.
Driving Speed and Efficiency with Veritas Drive
Our tech stack is based on four principles: All our tools must be cloud based, mobile first and open platform, and integrate with our other systems. Our proprietary Veritas Drive platform sits at the center of our operations technology – automating and improving leasing, turn management, and maintenance. Below are just a few examples:
Boundless Buildings & Leasing
Prospective residents can search for their future home across our entire portfolio and are not limited to a specific building. Teammates in the field and in our centralized leasing office may use either a desktop or mobile device to view availability for every Veritas community.
Maintenance Ops Powered by AI
Service technicians are automatically dispatched and routed via proprietary artificial intelligence algorithms based on their skillsets and proximity. This saves hours of driving time, reduces emissions, and allows our technicians to efficiently serve a resident base spread across extensive geographies.
Rethinking Renovations & Turns
Renovations and unit turn workflows are managed entirely through Veritas Drive, facilitating information flow in a centralized data warehouse. As an in-unit improvement project nears completion, for example, teammates are automatically notified to acquire photography and queue up pre-leasing.
Vision Rent: Flexible and Rapidly Responsive
Our in-house Vision Rent revenue management tool is built on a robust pricing framework that addresses the complexities presented by smaller buildings like ours.
By performing a rigorous statistical analysis for each apartment, we are able to quickly respond to changing market conditions and account for regional differences such as the value of air conditioning in hotter climates or the desirability of certain views.
PropTech Partnerships Provide Best-in-Class Digital Resident Amenities
For most residents in smaller apartment buildings, the promise of PropTech remains elusive. Veritas leverages the power of scalability and pioneering partnerships with third-party PropTech firms to elevate the resident experience with digital amenities.
Our Veritas Innovations division engages in additional partnerships and trials with up-and-coming PropTech firms, searching for even more digital amenities that enhance the resident experience. Read more about our technology partnerships here.
Financial Flexibility & Future
Residents can find additional value in their rent payments through our partner BILT, which offers the first resident-friendly Mastercard to pay rent with no additional fees. Its reward points can be redeemed for rent payments, travel, or the down payment on a future home.
Most of our markets have limited parking. Although minimizing vehicles on the road can support a city’s sustainability efforts, it makes access and travel a challenge for our residents. Through partnerships with car-sharing providers, we can provide a “community” car residents can rent by the hour.
Smart Laundry Services
Tech-enabled common area laundry is powered by our partner Tumble. Our residents can see machine availability on their mobile devices before hauling a basket to the laundry room, pay digitally, and even lock their laundry machines so they can get back to living.
Smart Access Controls
Intercoms at most classic buildings are not only eyesores, but also lack modern functionality. Our video-enabled access control is powered by Carson, with some buildings even featuring a virtual doorman service. Dog walker knocking? The virtual doorman can validate her identity so she can fetch Fido.
Sustainability Supported by Technology
By leveraging technology to support sustainability, we complement our operational efficiency in extending the life of classic, older housing stock.
The same technology used to power our digital access can provide digital leak protection for water pipes. Solar panels installed on our roofs power common areas. And attractive digital amenities draw more residents to our buildings, reducing the need for additional construction and its corresponding environmental impacts.