SPECIAL REPORT

-by Antonio Sawlwin 

How To Reduce Energy Costs

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SPECIAL REPORT
BY INVESTMENT STRATEGIST ANTONIO SAWLWIN
   "HOW TO REDUCE ENERGY COSTS"
THIS COMPREHENSIVE 43 PAGE REPORT WILL SAVE THE AVERAGE FAMILY $1000'S
IN ENERGY BILLS 
 

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REAL ASSET SOLUTIONS

Will we see then end of waiters and people serving behind counters in convenience stores etc?

Substituting technology for real-life waiters is not as far-off and futuristic as one may think. For all the skeptics out there, read the cleverly-headlined and profusely-shared “Hi, I’m a Tablet. I’ll Be Your Waiter Tonight.” article published in The New York Times recently. The piece asserts that “restaurants have been late to the tech party, and many are now scrambling to incorporate tablets, apps, computerized kitchen equipment and data analysis capabilities.” In other words, restaurants are being transformed by technology, and not just when it comes to waiting tables.Diners are definitely on board with this. Granted, some bemoan the loss of the human connection—one Reddit user commented, “If a restaurant I go to got rid of waiters, I’d stop going.” However, a survey by the National Restaurant Association found that more than 50% of consumers said that “they would use tableside electronic payment options,” and 44% indicated they would use tablet menus.

The customer is always…happy?

Several platforms have sprung up to provide this new technology, including Revel, Ziosk, and Tanjarine, the last of which links tableside ordering, entertainment, and pay-at-the-table service with server handheld devices. Restaurants that use these platforms report increased profits, more inventory turnover, and heightened levels of customer satisfaction.

We suspect that this is just the beginning: Consumer demand for instant, friction-free service in all aspects of their lives is only increasing. And now that apps like Uber are already providing that kind of service the second diners step out of a restaurant, they’ll surely want it inside as well. Besides, restaurants will probably realize the value in forming an association between themselves and these popular new tech platforms.

It’s the restaurant revolution

With waitering service covered and taking off, the next logical step would be integrating technology into more aspects of the dining experience. As a mobile app-creation platform that currently enables thousands of restaurants to connect and engage with their customers via customized mobile apps, that next step is something we at Como have been thinking about a lot.

As things stand now, these customized apps let restaurants post daily updated menus to reflect daily specials. Users can make reservations through OpenTable and Urbanspoon. App users on both ends can integrate with GrubHub, Seamless, and Eat24. But with the anticipated development of technology in the restaurant realm, we expect a lot more things to improve for the customer before, during, and after the dining experience.

Before:
We expect that customers will soon be able to use a restaurant’s app on their phone to send their order to their table’s tablet before they even get to the restaurant. Diners may even be able to order their favorite dish to show up at their table precisely at 8:15 p.m.

During:
Alternatively, diners could change their order, confirm it, and send it to the kitchen once they sit down. Consider the efficiency this would bring to the restaurant, and more importantly, the high levels of satisfaction it would bring to customers. We all know how frustrating it can be to try and find a waiter when a restaurant gets really busy.

After:
Restaurant owners could track and monitor data such as individual customer behavior, menu choices, time spent at each table, and more. After the diners leave, a restaurant’s app could keep a record of what they enjoyed. That data would let restaurant owners offer them a discount on that dish the next time, recommend suggestions based on their culinary preferences, offer a coupon, or survey them on potential new menu items.

Puttanesca with a side of data

The development of customized apps has always meant that restaurants are as much in the data business as they are in the food business. Now more than ever before, restaurants need to think about the many ways they can “serve” this data that’s available to them back to their customers.

For example, those counting calories could be notified about the calories they consumed during their meals. In turn, this data can be integrated into fitness and wellness services within an app—like Nutrisystem’s recent Numi launch. Taking this a step further, users can be told how many calories they need to burn based on what they just ate, and how long different workouts will take to achieve that.

We’ve come a long way from the time when restaurant owners—and other small business owners—wondered why they would ever need a mobile app. Of course, there will always be skeptics. New technology always provokes that reaction; there’s probably still some people out there grumbling about the birth of the Internet. But—while there’s obviously no guarantees— this particular change looks like it could be beneficial for everyone involved.

Private Landlords

Landlords Go It Alone

It’s no secret that the majority of landlords are often less than satisfied with the level of service and support that they receive from their property management team.

In 2012, overall satisfaction levels for landlords dealing with the property management industry were lower than ever, and it’s easy to see why; with rental arrears seldom followed up, inspections completed rarely, if at all,  questionable paperwork practices and non-compliance with notice requirements among the list of the most common complaints.

In most cases, it may come down to a simple lack of commitment; for the overwhelming majority of property investment companies, more than 80% of total profits come from property sales, which means that rental management is low on the list of their overall priorities. It stands to reason that sales jobs within a property management company are the most coveted, leaving the most junior staff members responsible for the rental management obligations.

Unless the property management company was chosen based solely on their commitment to the rental market, or they have specialized and experienced rental experts on the team, it’s likely that the property manager in charge of your investment is an entry level staff member, on an entry level wage, with more properties to manage than is possible to take care of adequately, and no financial incentive to do a better job.

Having an inattentive property manager can be a frustrating prospect, but beyond the frustration of a company that doesn’t offer a timely response to enquiries, or doesn’t provide the right kind of support, is the risk of getting caught out financially because the agency isn’t paying sufficient attention to the tenants.

It’s well documented that the further behind a tenant falls in rental fees, the more difficult it will be for them to get back on top of the payments. The fewer inspections taking the place, the more likely it is that damage or cleanliness issues will go unnoticed. Additionally, it’s a safe bet that if the landlord isn’t feeling supported by the property management company, it’s more than likely that the tenant won’t be either, which could result in higher tenant turnover and could even be damaging to your personal or business reputation.

What is The Answer?

With trust among landlords and property management companies at all-time low, and the number of landlord complaints at an all-time high, the Real Estate Institute of South Australia recently called for more regulation and licensing of property managers; but with government departments already struggling to balance their limited resources, and current laws often unable to be satisfactorily enforced because of limits on staff, it raises some questions as to how the new regulations will be adequately policed.

With no fundamental changes to the property management structure in sight, and with so much at stake, savvy investors are taking matters into their own hands. More and more property investors are learning that it’s better to outsource some of the property management responsibilities while retaining overall control of their investments.

According to Mark Woschnak, CEO of rent.com.au, 40% of current rental properties are listed by non-agents, compared with only 5% of homes for sale; and that number is increasing all the time.

More people are renting than ever before, and that level of demand allows private landlords to make the most of market conditions, while enjoying freedom from dealing with a less than stellar property management company. Specific tasks like screening prospective tenants, inspections and rent collection can be easily outsourced to professional personnel on market-competitive terms, and can save hundreds, if not thousands, of dollars a year, not to mention your sanity.