How Venn Built a Community-Centric PropTech Ecosystem

Most PropTech companies start with a technology problem. Venn started with a dream—creating a neighborhood where you know your neighbors' names. That vision now powers hundreds of buildings across 24 states.

Or Bokobza and Chen Avni's journey began with a radical experiment in Tel Aviv's south district. They purchased 30% of an overlooked neighborhood and manually created the resident experience they wished existed—connecting every touchpoint from apartment search to move-out.

The results spoke volumes: property values quadrupled within five years, and residents became advocates who brought friends and stayed longer because they felt part of something meaningful.

From Manual to AI-Powered

After proving their concept worked, Or and Chen faced a pivotal 2018 decision: how to scale their high-touch approach. They spent five years building a comprehensive platform with nearly 100 people—70-80% engineers, product designers, and customer success specialists.

"No one cares about another app. Residents want experiences that make their lives easy, not more technology to manage." - Or Bokobza, CEO & Co-Founder of Venn

The Five Laws of AI Automation

Chen introduced Venn's framework for effective multifamily automation:

1. Automate the Boring, Amplify the Human - Free staff from tedious tasks to focus on value creation
2. Data Without Action is Just Noise - AI insights only matter when they lead to immediate improvements
3. AI That Feels Personal Wins Every Time - Real-time personalization beats generic chatbots
4. Your Tech Stack is Either an AI Goldmine or a Killer - Systems must integrate or AI can't work
5. Think Beyond Cost Saving—Focus on Revenue Boosting - The real opportunity lies in new revenue streams

The $1,500 Per Unit Opportunity

Venn has identified approximately $1,500 per unit annually that external companies capture while property owners receive zero benefit. This untapped revenue exists in services, amenities, partnerships, and resident engagement opportunities.

"When you have trusted relationships with your customers, you become the one source of truth for the living experience," Or explains. This trusted position unlocks monetization opportunities beyond traditional rent collection.

Why 80% of PropTech Solutions Will Disappear

The industry's obsession with point solutions has created fragmented ecosystems that frustrate both residents and staff. Regional managers leave because they're juggling 12 different Yardi instances. Residents need "MIT developer" skills just to pay rent.

"In the future many point solutions in our industry may not exist if they're solving something small and less relevant to the big picture." - Or Bokobza, CEO & Co-Founder of Venn

Getting AI-Ready: Start with Data

Only 10% of US owners and operators have centralized, normalized data—the foundation for effective AI. Or emphasizes: "AI became commodity. Everybody has access to AI. The differentiator is having clean, integrated data."

Venn helps partners centralize their data, then provides Zapier-like workflow automation that lets operators build custom solutions in real-time.

The Happy Employee Formula

"The flow should be happy employee, happy resident, great business." - Chen Avni, COO & Co-Founder of Venn

When staff struggle with 27 different logins, they can't deliver exceptional service. Streamlined technology eliminates friction for staff, naturally improving resident satisfaction and business results.

Key Takeaways

Start with human needs, not technology: Venn's success stems from obsessing over resident experience first, then building technology that enhances relationships.

Data infrastructure is everything: Before implementing AI, centralize and normalize your data. This foundation determines success or failure.

Think ecosystems, not apps: The future belongs to comprehensive platforms that eliminate friction across the entire resident journey.

Focus on revenue opportunities: The real value lies in new revenue streams from trusted resident relationships, not just operational efficiency.

As multifamily faces staffing shortages and economic pressure, Venn's approach offers a blueprint for using technology to strengthen rather than replace the human elements that make communities thrive.

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