Commercial Observer Features LeaseLock CEO Janine Steiner Jovanovic on the Frights and Future of Proptech
In a Halloween-themed feature by Commercial Observer, industry leaders shared the business fears that keep them up at night, from funding freezes to AI anxieties. Among them, LeaseLock CEO Janine Steiner Jovanovic offered one of the most comprehensive and forward-looking takes on the haunting realities and opportunities facing proptech today.
The Market’s Maturity Moment
Jovanovic describes the current phase of proptech as one of reckoning and refinement.
“Proptech is in a critical phase,” she said. “It’s moving from a period of explosive growth and experimentation to one of maturity, consolidation, and a stronger focus on demonstrating real, measurable value. The next few years will determine which solutions truly stick and drive long-term transformation for our industry.”
As a pioneer in AI-powered deposit replacement, LeaseLock has long emphasized measurable outcomes over hype. That focus on transparency and performance aligns with Jovanovic’s message: success in proptech will hinge on execution, not just innovation.
The Real Frights Behind the Future
Jovanovic didn’t shy away from naming the monsters lurking in the shadows of the proptech world, from shrinking venture capital pipelines to operational integration woes.
She cautioned that the combination of economic slowdown and investor scrutiny is creating a market correction that will separate sustainable businesses from what she calls “zombie proptech companies.”
“The venture capital boom of the last decade led to a proliferation of startups,” she explained. “Many who raised significant capital on promising ideas or early traction have failed to achieve sustainable business models, profitability, and sufficient market penetration. The market correction in tech funding, combined with economic headwinds, will lead to consolidation, acquisitions at lower valuations, and outright failures among these zombie companies.”
Why Strategic Innovation Still Wins
Despite the eerie outlook, Jovanovic’s perspective remains optimistic for companies that deliver tangible ROI. As she notes, proptech adoption isn’t slowing down, it’s getting smarter.
Investors and operators alike are now prioritizing interoperability, cost efficiency, and sustainability.
That same philosophy underpins LeaseLock’s solutions, which modernize rental housing operations and strengthen asset performance through smarter, AI-driven risk management. By replacing deposits with a seamless digital replacement, LeaseLock enables operators to protect income while improving accessibility for renters.
“Proptech solutions that offer a clear product-market fit and enhanced existing ecosystems will prevail,” Jovanovic said. “The market is simply more discerning.”
Facing the Fear Factor: Data, Integration, and Talent Gaps
Jovanovic also highlighted operational risks that haunt even the most well-intentioned innovation efforts, from data security and privacy challenges to the talent gap in property operations.
“Proptech integration can be complex, costly, and time-consuming,” she noted, emphasizing that tech vendors and real estate operators must work hand in hand to drive meaningful adoption.
Her comments reflect the challenges LeaseLock solves every day through integrated property management system partnerships, helping operators automate risk workflows without disrupting on-site teams.
She further warned that fragmented markets, evolving data regulations, and reactive spending on compliance could divert resources away from innovation if not carefully managed.
LeaseLock’s Vision: Turning Fear Into Foresight
As the proptech industry grows up, Jovanovic’s insights serve as a guiding light for what comes next. The companies that survive this next era will be the ones that stay agile, data-driven, and mission-focused, much like LeaseLock, which continues to redefine rental housing risk management through AI, automation, and customer-centered design.
While Halloween may be full of tricks and treats, for Jovanovic and the LeaseLock team, it’s also a reminder:
True innovation isn’t scary, it’s sustainable. Read the full story.
About LeaseLock
LeaseLock modernizes rental housing operations by eliminating deposits and leveraging AI-driven data to protect properties from financial risk. With over $14B in leases insured and 3 million deposit-free leases nationwide, LeaseLock’s platform transforms how owners and operators manage risk, boost NOI, and expand housing accessibility.
Learn more about Deposit Replacement, Market Insights, and how to modernize your leasing operations.
