Property management is a booming industry with fierce competition between companies to stay ahead of the pack. Technology is undoubtedly the partner needed to grab opportunities and mitigate risks to succeed in the market. It also showcases business as forward-thinking and on par with the times. A prominent technology trend in the property management industry is automation. This helps property managers to simplify the time-consuming processes that hinder efficiency such as rent collection, supplier and service payments, insurance, and maintenance. There are instant messaging systems and incident reporting tools available for landlords to communicate with tenants or service providers. Further, smart building technology and smart HVAC technologies ensure energy conservation reducing the overhead and maintenance expenses for property managers.
Along with leveraging technology to manage processes, it can also be utilized as a significant asset to facilitate great customer experience. Property managers can use modern smart building security and monitoring systems to ensure the safety of property and turn it into an advantage over other competitors in the market. Space-as-a-service is a business model in the rising that provides tenants with not just actual space but with additional services that make it effective. Some of the features include Wi-Fi and data access, smart locks and keyless solutions, remote systems controls, and occupancy sensors. Safe neighborhood and walkable homes close to community features are also gaining traction among millennials. With the trend of Hipsturbia, millennials are migrating towards the suburbs. To capitalize on this trend, property managers can showcase nearby community attractions through photos, maps, and 3D models.
Property managers often use marketing techniques to lure in tenants for property sale. There is a substantial focus on digital marketing and social media networking to reach a wider set of audience. Digital services such as marketing and SEO tools help them drive traffic to social media accounts and websites, boosting sales.
In light of these significant technological advancements today, PropTech Outlook has compiled a list of top 10 property management solution providers 2020 to guide leaderships in harnessing the power of technology to embrace innovation and enhance productivity.
With exceptional technological acumen and numerous success stories up their sleeves, many of these companies have consistently proven their expertise in the field of property management. We hope this issue of PropTech Outlook helps you build the partnership you require to gain an edge among competitors and thrive in the market.
We present to you PropTech Outlook’s “Top 10 Property Management Solution Providers-2020.”