New technology boosts rewards in the rental market
Property technology uses behavioural economics to reward tenants for good behaviour
For some time, behavioural economics has been the foundation for loyalty programmes and initiatives aiming to drive behavioural change. This is certainly the case for property technology (proptech), a new field of marketing in the property arena, which is based on the premise that humans are social beings driven by motivations aside from money; this is why the gamification of rewards and loyalty programmes works so well to motivate consumers.
Flow is a proptech platform which serves the rental market and rewards tenants for positive behaviours such as paying their rent on time and looking after their homes. Brand manager Carryn Martin says proptech is a growing industry.