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Economic slumps traditionally set off battles between local governments trying to make up lost revenue by holding the line on property taxes and property owners trying to cut their taxes to be more in line with their diminished bottom lines.

For many commercial property owners, the pandemic-inspired recession has set that dynamic in play once again but with some new twists. For one thing, not all owners have had a hard time, such as most industrial owners. More importantly, tax experts say the prospect of a relatively short downturn might give taxing authorities the upper hand.

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One had no experience in real estate at all. The other had property in her blood. On the face of it, the path to the top for two of the first women ever to run major real estate companies in the UK could not have been more different. 

But their stories say a lot about what it takes for anyone to succeed in business — and what real estate can do to change the fact that, a quarter of a century later, the sector is not much better when it comes to diversity among its leadership.

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In this series, Bisnow highlights people and companies pushing the commercial real estate industry forward in myriad ways. Click here to read Q&As with all the innovators Bisnow has interviewed so far.

Sometimes innovation comes when innovators realize that a particular long-standing and generally unquestioned business practice causes a problem that they can solve, or at least ameliorate, using a new approach.

David Sullivan and Brady Nolan, both with backgrounds in residential real estate, came to the conclusion that the practice of requiring tenants to pay all of their rent on the same day every month often proves harmful for both landlords and tenants, particularly those who fall even a little behind. They thus created a tech platform, Till, to help both sides cope with the persistent fallout and sometimes hardship from the drumbeat of monthly rental deadlines.

Sullivan, now Till CEO, founded the company in late 2017, and not long after, Nolan joined as co-founder and chief growth officer. With venture backing from Route 66 Ventures, Metaprop Ventures and NextGen, they devised Till to include elements of both proptech and fintech that allow tenants to customize their rental payments across each month to be more in line with their incoming cash flow so that before long, they can meet their obligations on time.

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