Propexo CEO Warns of "API Apocalypse" Ahead for Multifamily Technology Providers

Remen Okoruwa, Co-Founder and CEO of Propexo, recently appeared on "Hot Takes for MFers," hosted by Sunny Juneja and David Thomas, to discuss the significant changes coming to property management system APIs and their impact on the proptech ecosystem.

During the conversation, Okoruwa delivered what he called "good news and bad news" for the industry: while property management system APIs are getting better with modernization efforts from major platforms like Yardi and Entrata, these changes will require substantial engineering work from proptech companies to adapt their existing integrations.

The discussion explored how these API transformations are moving from outdated SOAP protocols to more modern REST APIs, and introducing developer-friendly features like webhooks and sandbox environments. Okoruwa explained that while these changes will ultimately lead to easier, more feature-rich integrations, the transition period could require three to nine months of dedicated engineering resources for affected companies.

As a leading provider of unified API solutions for the multifamily industry, Okoruwa also addressed how these changes might impact proptech startup funding cycles and product roadmaps, noting that companies might need to pause feature development or increase burn rates to accommodate the necessary integration work.

You can listen to the full episode here.