Keeping up with and managing different properties on a day-to-day basis is a difficult job. But today, thanks to the various emerging technologies, the property management business is on the rise.
Technology is here to help property managers ease their heavy workloads, improve customer service, boost staff efficiency and reduce costs. Property managers all across Australia are slowly implementing different types of technology in their businesses.
However, keeping up with all the latest technology trends is not easy. That’s why we made a list of 6 property management technology trends you should follow in 2023.
But first, let’s see why property management technology is so important.
The importance of property management technology
As mentioned, property management is not an easy job. It’s quite time-consuming and demanding, especially if you have several properties to handle.
This is why investing in property management technology can be a perfect solution. The different types of technology could help you work smarter and effectively manage more properties at the same time.
This means that property management technology could help property managers and real estate agencies save time, boost efficiency, reduce the chance of human error, and free up resources.
6 property management technology trends
Let’s see different technology trends that could help both property managers and real estate agencies streamline their businesses.
- Cloud-based management
Thanks to cloud computing, real estate agencies, and property managers can now be more efficient. Cloud-based management is one of the biggest trends in the property management industry. This is because cloud computing helps managers and their teams use one single platform to handle all their properties.
Cloud-based property management software can help collect rent and manage and maintain properties from any device.
The best thing about this software is that property owners can also have a piece of mind knowing that all their data is handled and stored securely.
- Task automation tools
Manual processes that were too time-consuming can now be replaced by technology. By automating tasks and using automated tools, property management in Northern Beaches has never been faster and more efficient.
Menial tasks such as data entry, sending scheduled messages, and reminding people about service charges can all be automated and sped up. Property managers and their teams can perform more urgent tasks thanks to that.
- Instant messaging tools (AI)
AI (artificial intelligence) technology is yet another trend that has taken the real estate and property management industries by storm. With the help of chatbots and app-based instant messages, customer services have significantly improved. Tenants and property owners can reach out to and connect with their managers whenever they need to.
Chatbots can instantly give responses to tenants’ queries. And app-based instant messaging facilitates communication between management, tenants, and owners.
You can see how this technology saves time and improves tenant experience.
- Virtual reality (VR)
You may have already heard of VR, but VR is a relatively new trend in the property management industry. It became popular recently due to the pandemic. But in general, VR is a very important property management trend.
Not only can VR save time, but it can also help generate interest in certain properties and speed up the application process.
Virtual property tours are very handy marketing tools. In addition to regular property photos and listings, they allow potential buyers and renters to see properties in 3D. It’s important to add that this trend is proving quite successful with the millennials.
- Green tech and smart buildings
Sustainable and smart buildings are something tenants are looking for nowadays. That’s one of the reasons why property managers need to look for ways to make properties more sustainable and smarter. As well as look for different green technologies that can help reduce property emissions.
This is a great trend; more and more renters are choosing buildings with sustainable heating, proper HVAC systems, and smart lighting solutions.
Similarly, this year, creating smart buildings that utilize technology and are, thus, easier to manage, is yet another trend to follow.
- Digital Marketing
In addition to managing properties, property managers need to be good at making engaging marketing campaigns. While this may have been a problem before, today, with the help of technology, it’s a piece of cake.
Property managers can now use various digital marketing strategies to create engaging and targeted campaigns. They can use anything from SEO strategies, social media, and websites to email marketing to gain more visibility.
Digital marketing can be a serious asset to property management. It can help managers keep occupancy rates low and increase their tenant base. As well as create a strong property management brand.
Bottom Line
Having a property management company has never been easier. With the help of these 6 property management technology trends, you can not only save time and money but grow your business as well.