Take It To The Board with Donna DiMaggio Berger
Take It To The Board with Donna DiMaggio Berger
From Paper to Digital-- Revolutionizing Association Document Management, with Trish Mackie-Smith, Co-Founder of Inndox
Documenting the condition of your association property has become crucial to comply with new legal requirements as well as to maximize your insurance claims post casualty. Transparency, accessibility, and digital organization also play the critical role of helping to protect resident safety.
Digital documentation pioneer Trish Mackie-Smith joins host Donna DiMaggio-Berger for this episode of Take It To The Board to discuss how technological solutions are revolutionizing the way associations store and access their most important maintenance and repair records. After witnessing buyers making uninformed decisions due to lack of transparency, Trish co-founded Inndox to create a comprehensive digital repository that tracks building maintenance, warranties, and safety inspections throughout a building's lifecycle.
Donna and Trish explore why independent document storage creates essential continuity for associations and assists management companies when they onboard new clients. This independent storage portal helps associations maintain compliance with increasingly strict legislative requirements while ensuring critical information isn't lost during transitions.
Beyond simple document storage, Donna and Trish explore how modern systems can alert boards to upcoming inspection deadlines, insurance renewals, and warranty expirations—transforming static paperwork into dynamic tools for proactive management. Perhaps most fascinating is the emergence of structural monitoring technologies that use accelerometers to detect building movement, potentially preventing tragedies like Champlain Towers by identifying structural issues before they become catastrophic.
Whether you're a board member struggling with disorganized records, an association manager seeking better technology, or an owner concerned about building safety, this episode offers practical guidance for bringing your association's documentation into the digital age. The message is clear: well-maintained digital records aren't just good governance—they're essential to protecting lives and property values.
Conversation Highlights Include:
• The many benefits of converting paper records to digital formats
• How digital document repositories can help prove maintenance history to local Code Enforcement and support insurance claims post casualty
• The importance of maintaining organized records to comply with increasingly strict legislative requirements
• New technologies including structural monitoring systems that can detect building movement before failures occur
• Practical implementation strategies including forming "scanning committees" to digitize historical documents
• How proper documentation can strengthen a building's value and potentially reduce insurance premiums
• Key documents that every condo or HOA should maintain digitally
• How to address concerns from board members or managers who may not be tech-savvy
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Hi everyone, I'm attorney Donna DiMaggio-Berger, and this is Take it to the Board, where we speak condo and HOA.
Speaker 1:How you store and maintain your association's books and records has never been more important. An organized and effective document storage system is needed to support the veracity of any damage claims your board may submit to your insurance company, to prove your compliance with governmental safety requirements and to respond to owners' legal rights to inspect these books and records. Today on Take it to the Board, we're talking about property documentation and disclosure with a true innovator in the field, trish Mackey-Smith, a former property lawyer and co-founder, along with her husband, andrew, of Indox, an Australian company that has been at the forefront of revolutionizing how critical property information is stored, accessed and shared. In an era where transparency and due diligence are more important than ever, especially for community associations, her work is helping property owners, buyers and managers make better informed decisions. We'll explore how technology is reshaping the way associations handle documentation, the challenges of outdated record keeping and why having instant access to key documents is essential for both compliance and risk management. So let's get into it, trish. Welcome to Take it to the Board.
Speaker 2:Thank you, Donna. Very happy to be here.
Speaker 1:So I have to ask what inspired you and your husband, andrew, to create INDAX? I mean, what problems, trish, were you both aiming to solve in the real estate and community association sectors?
Speaker 2:Yeah, so it started because in my previous life as a property lawyer and then a building consultant with my husband that we co-founded a building consultancy, we saw over and over the same problems occurring, and it was all to do with trying to access important information about the property at the time of transaction and finding that really stressful. There was a lack of transparency, and I even saw that buyers were going ahead spending their life savings on unsafe properties totally unaware of the risks, and making decisions that really were uninformed decisions because they didn't know the true condition about their properties. So I thought there's got to be a better way than the current system. If we could only digitize all the information, have it centralized and easily accessible to all the stakeholders, then this will create more transparency so people can make informed decisions and buy properties knowing the true value of the property as well. So then I looked to technology and that's how we came about to create Indox. It's a digital property information system that tracks all the maintenance warranties, safety checks for the entire life of the building.
Speaker 1:This has been something we've talked about a lot over the last four seasons on the podcast Trish, which is a lot of potential purchasers to look at the unit, to look at the view. I don't know how much they dig into those details you're mentioning which are so crucial to making an informed purchase decision. I mean, do you think and have you found that if you make this information available to them, they actually read it?
Speaker 2:Good question. Yes, nowadays, I think, buyers are far more sophisticated. They want to know a bit more than they used to. There's more seller disclosure requirements happening around the world and, yes, they're asking more questions. So I am finding that buyers are needing and wanting, expecting to be able to access this information. I mean, everybody nowadays uses their phone and they want to be able to find the answer to questions on their phone. So why can't it happen to properties their biggest purchase of their life? I thought it should have happened years ago, many years ago. Because buyers are getting more sophisticated, more tech savvy, they are benefiting from the digitization of records.
Speaker 1:You know, it's not just the buyers either, trish, it's the people who actually have been living there, maybe for many years, okay that want to stay informed about the changes in the building over time, which happens. I mean, you're in Australia, which you just mentioned to me, that you had a cyclone. I guess that's our version of a hurricane. I'm coming to you from South Florida, another geographically vulnerable area. Buildings change, properties, undergo various challenges, whether it's just normal wear and tear or impacts from construction next door, or impacts from casualty events, weather events, things like that. So, to your point, it's yes, for the new purchasers, it's helping them make a more informed decision, but for the people living in the building, I imagine they want to stay up to date on what's going on with the health of the building.
Speaker 2:Oh exactly. What's going on with the health of the building? Oh, exactly, and of course, they need to know in order to ensure that their building doesn't deteriorate to such an extent that they've got major expenses. And this is where the condo laws have come in to ensure that the owners, the board members doing the right thing to maintain their building, know the status of the building and what repairs are required and acting on them. And this is where our platform comes in to monitor that and ensure that the buildings are safe and also compliant.
Speaker 1:So it's a little bit different. Obviously, having a proper document management system for a high-rise is going to be critical For a homeowners association with single-family homes, where you've got the owners responsible for basically everything pertaining to that house the roof, the residential envelope all of that it's not going to be as critical I would assume, unless you're also talking about a highly amenitized homeowners association with a clubhouse and other types of amenities. Would you agree? Yes?
Speaker 2:I do agree there's more involved. It's more complex for a high-rise building as opposed to a single-story home. Definitely, though, we find that homeowners enjoying the benefits of having all their records in one place, including insurance documents or the photos of the insured goods are there, the policy for their insurance, or the contacts of people who have worked on the home, their gardener, their handyman, having those regular maintenance alerts coming in, all the warranties for the property. So it still does make sense to have all these records in place for a single-story home, just like a multi-story building.
Speaker 1:You're talking about that and it's taking me back to the introduction, where I mentioned having all that documentation to support an insurance claim. And you're right, it pertains to single family homeowners as well to make sure that they can prove that they've maintained the roof in their home. Because what insurance companies typically do when you present them with a claim, they have two favorite refrains which is pre-existing damage or failure to maintain. So, having all that documentation, the maintenance records over the years, we always tell clients when we're heading into storm season, take date stamped video and date stamped pictures of your property so you can prove what it looked like before you head into storm season.
Speaker 1:I think it's a really, really great point. A lot of these properties about 50%, maybe a little bit more now with all the stringent new laws in Florida they're professionally managed Trish. So what makes your system, indox, different than what the management companies are already doing in terms of document storage or what the associations who are self-managed are trying to do? What makes you guys different, if you can kind of explain the system and what you do?
Speaker 2:Yeah, sure. So of course property managers have their own way of doing things, they have their own systems, but really they're self-serving. They don't operate for the ongoing benefit of the board long-term, because property managers come and go and if the property manager is no longer looking after that building, often the records are lost. They're not handed over to the board and then, with the new property managers coming on or the new board members coming on, that information, that critical information, is gone. So this is where I think the intention of the condo laws and you can help me with this, donna, because you're the expert here I think the intention is for buildings to be well-maintained for the entire life cycle. So that means that there needs to be a repository that continues way after the property managers and board members have done their term, so that there's continuity.
Speaker 2:And this is where INDOX is different.
Speaker 2:It's separate to the software that a property manager might use. We train the property manager to be able to keep those records updated on behalf of the board members. So it's all very easy, user-friendly and it enables the access by all any stakeholders, although we do have the privacy management in place as well to ensure that certain records are protected and you can enable permissions with our system, but having a repository that continues long-term, with all those inspectors, professionals who've looked after the building in the past. They're all there, accessible at any time you need them, and all those records are there and all the ongoing maintenance. I did come across a survey that was done by the Community Association Institute and I was stunned that there's only about 35% of boards that actually have a maintenance plan in place. So INDOCS enables this and it's very important. Especially now with climate change, the new legislation, there's new obligations placed on these boards and if they don't do this, if they don't maintain and control a repository, then they're exposed and you would know about the risk of this. It's a fiduciary duty now?
Speaker 1:Yeah, the risks are, if I'm hearing you correctly, Trish, what you're really talking about is something that we've espoused for years with our clients, which is independence. A lot of times, vendors will come along to volunteer boards and what are they offering? They're offering ease of operations. We're going to do this for you. You don't have to worry about it. Just go live your life and we'll take care of it.
Speaker 1:Here's the problem. The buck stops with the board. These other people are your agents. So the sticky factor is we'll take care of your document storage, we'll take care of your document storage, we'll take care of your website. But if you part ways and you are left in the lurch, that becomes a huge problem. So that is where an independent website, an independent document storage portal, all of that becomes terribly critical, because sometimes you don't know how long you're going to be between professional management. You don't know if what you thought you could fill in a week might take a few months. So that independent component is really, really important, because it does help you continue to comply with the law, regardless if you're in the midst of a transition. You mentioned your system. I assume you limit the number of people in an association who have access to the document storage. Is that how it's set up?
Speaker 2:Yes, that's right. So the board members have the ability to access and they have control, total control, and then they can enable the property, the current property manager, to have access in order to keep it updated. But if that property manager finishes their term, then the board removes that access as well. So it's entirely controlled by the board members, but updated by the property managers.
Speaker 1:I have had a couple episodes Trish on the podcast talking about mental health challenges in associations. And bear with me because there is a tie-in to this episode. What if we have somebody let's say it's the manager or board member that decides they want to go in and destroy some documents, make it a little difficult for the association. How would you handle that? What kind of backstops do you have? And, by the way, in the state of Florida that is a crime If somebody is going in and destroying documents, particularly if they're doing something to cover up a crime. So how do you back up or what kind of backstops do you have in place if there was somebody who had access to the document storage and was intent on doing something bad?
Speaker 2:Oh, yes, absolutely. We have backups and, with our tech team, they would be able to access the information. We've got a record, you know. We can trace everything that's happened in the past so we can ensure that we can reinstate the information. So there would be no issue there, as long as we're told as soon as possible that, yeah, there's been, you know, some breach, some breach, yes, that's right.
Speaker 1:I have to tell you I think that is one of the key points that I want our listeners to take away because we are seeing an uptick in fraud, believe it or not, Just as the legislative consequences have gotten more serious, we're seeing some uptake in fraud. I don't know how it keeps happening if people just don't think they're going to get caught. And it's so much easier to commit fraud when you're only dealing with paper documentation. It's so easy for a piece of paper to be tossed out or burned up or otherwise destroyed or removed, as opposed to digital documents that carry a footprint correct.
Speaker 2:Absolutely. This is why I thought we should have everything digitized and I don't understand why it hasn't happened earlier, you know, and that's why I was so motivated to do something. I thought, why? Why hasn't anyone else done this? But then I soon realized how difficult it is to get people on board. Initially because it's daunting to think, oh gosh, I've got to go and find all the old plans and where are they and where to start. So it's been a challenge.
Speaker 2:But once you've got all those records digitized, oh wow, it makes such a difference to everything. It's far more efficient, convenient. People have confidence and the value course of the of the property would definitely be. It would improve if you can show instantly okay, we've, we've got this property well maintained, we know where the warranties are at, when the inspections are due, we've got all the budgets in place for the reserve studies, everything Everything's there. And also it could even reduce insurance premiums if you can prove to insurers that this property is well-maintained and compliant. So there's so many benefits to digitizing. I'm sure there are others around the globe, but I'm so glad that I've started doing this and to help others so that they're very well informed about their property, so that they do stay safe. We don't want tragedies like what happened in South Miami, and that's another motivation for doing this.
Speaker 1:There's obviously a need. I mean, the Florida legislature has, over the last couple sessions since the Surfside tragedy, they have said they have obviously passed very robust engineering and reserve funding mandates, but in addition, they have said you need to keep your documents in an organized fashion. Trish, we never saw that before. That leads me to believe that a lot of legislators were contacted by owners and who told them it's like a junk drawer. I go in and there's stuff just you know, bulging piles of paper everywhere. I can't find what I'm looking for. So the law was changed in Florida to say, yes, you must maintain your documents in an organized fashion. It also the law was changed to impose very strict penalties, including possible criminal penalties, if you fail to produce documentation. So we know there's been a need for this. The law was also changed to say that an association can upload all these documents to a website and provide them digitally. So they're definitely the Florida legislature is definitely sending a very strong signal to associations that there's a better way to do this.
Speaker 1:And I tell my clients as well look, extricate yourself from the document inspection process to the extent that you can, because that's where we find many of the complaints to the state they come about because somebody has said that they asked for certain documents and they didn't get them. And I'm going to loop this all the way back to our other conversation, which was look, if you have an angry homeowner and they've asked for certain documents, they really don't care that. Your response is that the prior manager or management company failed to turn over those documents or they lost them To that angry homeowner. That's completely irrelevant information. You're required as a board to have this. The association doesn't have it. That homeowner is going to the state and filing a complaint.
Speaker 1:In other jurisdictions they may go straight, they may file a lawsuit. In other jurisdictions, they may go straight, they may file a lawsuit. So you know this kind of comes full circle as to why is there such a disconnect when it comes to digitizing these documents? I assume you've dealt with people and you've seen how daunting it is. Are there steps that can be taken to make it less daunting? Do you send out a team with a portable scanner to start digitizing all their documents?
Speaker 2:We assist, we give guidance as to what sort of documents they should be collating and digitizing, and we do have services we can organize to go into these buildings and scan them if that's necessary. So we onboard the board member. There's usually one board member that will be nominated to liaise with us, but I do stress that it's important to get professional assistance as far as what sort of documents they should be digitising, like you know from their structural engineers that they've used in the past and their attorneys Get professional advice as to what should be going onto the system. We're not, even though I'm legally trained that is not my role in this case. We can give guidance, but I recommend that the boards get the professional advice in their own jurisdiction as to what information should be put on the system so that they're compliant.
Speaker 1:A lot of things today are digital to begin with. So the engineering, the structural integrity reserve study, all of that is being transmitted by email and PDF. So I assume, trish, they could just take that PDF and upload it. Right, the engineering reports, absolutely, send it over to you. For all the other stuff that they haven't done over the years. Let's say, and you're absolutely right, every jurisdiction, every state is different. But speak to association council, figure out how far back you have to go in terms of document storage, what should and should not be uploaded. But let's say we've got. Like six years ago we got a report but it wasn't sent by email. I always suggest you know everybody has these committees. What about a scanning committee? Why not get some of the volunteers in your community? If you don't want to pay to have a company come in and scan, could we just use a scanning committee to scan some of these old documents?
Speaker 2:That's a great idea. I like that one.
Speaker 1:Put people to work, why not? We'll give them something to do. You could give them some time. I've never heard of a scanning committee. I have heard of every type of committee except a scanning committee, and I keep saying it this is the wave of the future. Digitalization has so many benefits in terms of extricating yourselves from the process, which is always an unhappy process. Right, if everything's up there and accessible, you don't leave room for an owner to claim that the association is being less than transparent, is hiding documents, is trying to be hurtful. It's all there. It saves you time, it saves you money. It might make Trish, it might make my phone ring less, actually, because that's a lot of the calls I field are about botched document inspection requests. But nevertheless, I think it needs to be the future when it comes to maintaining these documents, and I'm wondering I don't know if you've ever talked to any insurance experts Are any of them insisting that these maintenance records be maintained this way?
Speaker 2:They should be. It would make their job easier as well. So that's where I'm hoping things will progress to that it just becomes standard practice that you digitize all the information, and yeah, that would be great. It would make everybody's life easier.
Speaker 1:This is not an all or nothing proposition, right? So if somebody came to you and they said we're going to start this process, but let's say they only have 20% of their documents digitized, it's not. Indox isn't saying you have to give us everything or nothing, Correct? Have you seen associations build up their digital footprint over time?
Speaker 2:Yes, yes, that's exactly how it works. You can keep on adding, keep updating, and that's what we're about. It's evolving and, yeah, so you can go back as far as you wish, or you can just start from a certain date, but over time, yeah, you just continue to update and make it better and better and better. So it's not just a repository, it's not static. We do more than that. So it's dynamic and the board members are alerted when inspection reports are due, when there's insurance renewals due, when warranties are about to expire. There can be videos on how to operate the security system or emergency evacuations, things like that. So it is a dynamic system. It's not just having the records there. It's evolving and right now we're looking at implementing AI into the system so you can actually eventually just talk to the system and it will talk back saying, yes, okay, we have this inspection coming up next week, it's booked in, so this is where it's going.
Speaker 1:That does sound exciting. So how much does all this cost? What's your pricing model?
Speaker 2:So the base model is 400 a month to subscribe and that's for up to 10 units. So if you have more than that, there's additional costs.
Speaker 1:You mean 10 condo units 10 condo units.
Speaker 2:Yeah, that's for the multifamily Okay.
Speaker 1:But then okay, what if I have a 400-unit hire rise?
Speaker 2:Yeah, so then it just goes up incrementally. So, yeah, we make sure that it's very reasonable considering, you know, the management of the risk that's at stake. So, yes, it's all there on our website so you can look at our pricing.
Speaker 1:Let me ask you, though, because there's a difference between monitoring the units and monitoring, let's say, the common elements the building envelope and the roof, the electrical and plumbing. In the common elements, Do you differentiate between the units and the building's responsibility for common elements?
Speaker 2:Yes, yes, that is possible, so that each individual unit owner can have all their information stored and updated and it's up to them. They have control of that documentation and it, you know, they can share that with with the board and vice versa. So all the information is there and it's multi-layered. So if, if you want to find out how we do all of that, it is very easy, user-friendly. I can take you through would take 20 minutes to show you how easy it is to be able to manage.
Speaker 1:It sounds like there's options, because for some associations they're not going to offer that to owners to keep their own data. That may be down the road, but the association's interested in the data they need to support, let's say, an insurance claim under the association's master policy. Although I do see the utility of also having the units monitored, because one of the big issues we have in Florida is who's responsible for what in the aftermath of a water leak right, water has gotten into the unit. Now there's mold, who's responsible for what? So I can see the utility of the owners staying on top of their own maintenance as well.
Speaker 1:That's a huge challenge we have in our multifamily buildings is, sometimes we have owners who just think they don't insure the interiors of their units. Maybe they'reiors of their units, Maybe they're not maintaining their appliances. They're not terribly organized. This can also be true for owners that are investor owners and in those units they've got renters who may not be communicating on maintenance issues that crop up with the investor owner. So I can see the utility across the board. Now what if somebody wants to leave you? We talked about leaving a management company. Well, okay, I've signed up, now I want to leave you. So does the association maintain access to all of the documentation. How do you get it back to them?
Speaker 2:Yeah, well, that's a good question. So if they do wish to leave out our service, then we would actually ensure that we understand why and we would give the board 30 days to retrieve all the records from our system, or they can do a bulk download so they would still have access to all those records, and then, though, it wouldn't be structured so it would just be an information. That is not easy then to be able to understand where everything's at. So, oh, yes, they can certainly. If they do leave our system, they would be able to access and retrieve all the records, and then it's up to them what they do. So it just won't be the structured way for their maintenance and repair logs and warranty alerts and all the past historical records with different contractors and so forth that would be lost.
Speaker 1:Who's your oldest client? What's the longest you've had a client?
Speaker 2:The longest, oh gosh, six years, because we started six years ago.
Speaker 1:Well, that's good news. That's good. And the growth? Have you seen exponential growth?
Speaker 2:Yes, well, especially in America, and this is because you're ahead of us, you see, and I think because of the Champlain Towers, that tragedy that forced, I guess, governments to bring in safety legislation, and I was actually contacted by a structural engineer in New York actually contacted by a structural engineer in New York because they were looking for a way to continue the inspection reports and what they'd done on different buildings, and they had been searching for a system to do that and couldn't find one. And they looked all over the world and then, yeah, they came to me and asked if I'd be able to assist them. So that's how we got into the USA and, yeah, it's taken off ever since.
Speaker 1:I would think that it would be equally important for building departments to have organized digital storage on all the engineering reports they receive. Has anybody have you dug into that, trish? Maybe that's a new potential business idea for you.
Speaker 2:Oh, yes, yes, I've thought about that. Look, there's so many benefits to the industry and different organizations in the industry. So, you know, for real estate agents, we help them. We also help property developers, because now they've got a handover, all the information, there's a lot more information for consumer protection as well. There's yeah, there's a lot of benefits to the industry as a whole.
Speaker 1:So, yeah, the reason I asked that question is because before the Champlain Towers tragedy, there were only two out of 67 Florida counties that required engineering inspections for older buildings, and that was Miami-Dade and Broward County, and, as you know, Champlain Towers South was located in Miami-Dade. What was surprising is that there were numerous examples of older buildings never being told, never being followed up with by local government in those two counties that they needed to have their 40-year certification or their 50-year certification. Now, I don't know if that was just because local government was cash-strapped or distracted or they could benefit from a more robust property documentation storage system, but you know there were numerous examples where the local building departments were not on top of those reports.
Speaker 2:Oh right, well, that's another reason why they need a system like what we provide. So everyone knows the status of the building and what's required as far as the structural integrity of those buildings. And I guess, now that it's clear, the responsibility does lie with the owners, and it's very onerous, and you need to have a more structured system in place. There's no question.
Speaker 1:Oh, I agree, I'm not sure.
Speaker 1:I agree that the entire onus should be on the owners.
Speaker 1:I think that there really needs to be a collaboration with government when it comes to helping to keep buildings safe, and I also think there's a huge obligation on the part of the people building these buildings to make sure they're building safe.
Speaker 1:And I also think there's a huge obligation on the part of the people building these buildings to make sure they're building safe buildings from the start and they're delivering all the documentation and the maintenance records they need to get that building and that community off on the right foot. I cannot tell you how many times, trish, when we're going through transition from developer control, all of a sudden warranties are missing. When we're going through transition from developer control, all of a sudden warranties are missing. Maintenance records they don't exist. You know you need to start off on the right foot, and doing so means that the developers need to be terribly organized as well and they need to be forced and made to deliver all of the documentation so that newly transitioned board has all the information they need to have in the event that they suffer a casualty loss, and also how they map out ongoing maintenance and repairs.
Speaker 2:Exactly, and we're there to provide a service for the property developers and construction companies, provide a very comprehensive way of managing the property long term and not just think they can walk away. So they do have a responsibility too, and by using Indox, if you know, the boards can specify that's what I want all the information in a digitized form, and if buyers also ask for that, then it's going to be standard practice and better for everybody, so that, yeah, they're responsible for their part and that's only fair.
Speaker 1:You tell boards who are intrigued by your service. They know they need to do something different, but they're afraid. Or, as you said a few minutes ago, the whole process just seems so daunting. What's a few of the things you say to those folks to help them?
Speaker 2:Yeah, I realized that boards can be disorganized and some of the board members may not have the capacity or the ability. Yeah, they're volunteers, aren't they? So we come in and we meet with them and hold their hand, basically, and it's a step-by-step process so that they feel confident in the process and then, when it's all set up, they don't have to keep it up to date themselves. We train the property manager to do that on their behalf, and so they should. So, yeah, we definitely, therefore, for the board members to feel that they've got someone holding their hand and making it an easy process, as easy as possible. I mean, there will be some documents that could be difficult to access or you'd have to get them scanned, as we spoke about, but it has been done, it can be done and we're there to help.
Speaker 1:And some of them are going to be self-managed, trish. So I would think this is going to be equally or even more important for those boards that do not have a professional management team, and they would be looking for something like this In that case, who are you training up? You're going to train a board member, I assume, or a committee member?
Speaker 2:Yes, usually a board member and there's usually one who will put their hand up and, as I said before, it is very easy. It's intuitive software. So it's really, once you've had a look at it, once you've had the demonstration, and also there's videos within our system to take you through different things, that some of our features and how to do it, in case you forget, or yeah, so it's very easy to manage, as you said, the self-managed properties. This is perfect for them.
Speaker 1:So you mentioned AI as one of the exciting new features. Anything else on the horizon in terms of property documentation, storage?
Speaker 2:Augmented reality is another one that we've been looking at to have the building scanned and have a 3D image of the property. So we're looking at partnering with another business that does that. And, yeah, there's an even blockchain as well, because banks and insurers they will want to know that this data is immutable, it can't be corrupted, and, with blockchain, that will bring more trust for banks and insurers. So we're also looking at that technology, but at the moment it's working brilliantly compared to paper.
Speaker 1:Go back to the augmented reality. So, for instance, I don't know if you read the report the media report a couple months back about a series of luxury high rises in Miami-Dade that are sinking slowly, but it was about subsidence. How would what you just said address that? Is that the augmented reality? Is that possibly a measurement tool on certain metrics in the building?
Speaker 2:Oh look, it's helpful. Also, there's other technology. We've partnered with structural engineers that are based in New Jersey and they've come up with a technology that is actually supported by the Florida authorities in a way that this technology can monitor the whole structure with accelerometers. They're called and they're placed on the building and within a 24-hour period it can monitor the integrity of the building and pinpoint all the weak areas and then they can come up with a plan of action. So this is a technology that we're embracing as well, especially for those buildings that might have some subsidence or cracking. Then these engineers can come in and do this monitoring. So, yeah, there's a lot of new technologies out there that can come into play and really help with the confidence aspect of the safety of the building.
Speaker 1:Well, that's fascinating because, if I'm hearing you correctly, that sounds like an alarm system that if Champlain Towers had had that in place at some point, that alarm system would have alerted people that that building was failing.
Speaker 2:That's exactly right. So they know there's even a tiniest, tiniest movement of the building will trigger an alert, and then engineers will go out there and then they'll be determining what measures need to be taken in order to prevent a disaster. So this is exactly what we need to do, because there's so many old buildings now, and buildings aren't meant to last forever they're not built that way and I read that there's two-thirds of buildings in condos in Miami or in Florida sorry are over 30 years old. So we do have to be aware of this and put measures in place.
Speaker 1:And you don't need a building to completely collapse or partially collapse to have a tragedy on your hands. We've seen balconies collapse, we've seen docks collapse, so it's not. I know there are people that think that lightning doesn't strike twice, but again, you don't need a complete building or partial building collapse to have a loss of life and tragedy and I think that we saved the best for the last. But that building alert system is fascinating to me because you know if it does what you're saying it does, it could alert people that there's something going wrong with the building, in time to get it addressed and save lives.
Speaker 2:Yes, that's right and that's why we've partnered with them. So for the older buildings that come onto our platform, we encourage that they do at least a baseline using this technology, and it's not expensive, but it's so reassuring to have it done.
Speaker 1:I agree. Well, trish, thank you so much for your time. Where can people find you? And remember, trish is in Australia, so if you call her her, just keep that in mind that's okay.
Speaker 2:We've got a team, so wherever wherever you are in the world, we're here to help 24 hours. So don't worry about the time. That's just where I am right now, but I'm often traveling and over in the states in fact, I'm over there in a couple of weeks time. So but if you want to find out more, have a chat to me or a demo, just go to our website uh index I double N D O Xcom and just click on contact us and we'll be in touch.
Speaker 1:Thanks so much, my pleasure. Contact us and we'll be in touch, trish. Thanks so much, my pleasure. Thank you for joining us today. Don't forget to follow and rate us on your favorite podcast platform, or visit TakeItToTheBoardcom for more ways to connect.