Posted by Mike Johnston ● Feb 12, 2019 9:00:00 AM

4 Ways Technology is Impacting Property Management

Technology Impacting Property Management

Just a few decades ago, people were genuinely fascinated by the high-tech machinery and gadgets portrayed in science fiction films of the time. Today, most of these films have become so ridiculously outdated that we’re more likely to laugh at them than be in awe of their technological ingenuity. This just goes to show how far we’ve come, in so small a time, that we no longer perceive technology as anything special but as a mere part of our everyday lives.  The real estate business in particular saw some massive changes (for the better) thanks to technology, including the following four:

On-the-go management with smartphones 

The introduction of smartphones has essentially done away with large office complexes, allowing would-be entrepreneurs to work while on-the-go. This technological marvel enabled us to carry vital information without having to stop by a brick-and-mortar office to check on that ‘something’. Hence, in some weird way, your smartphone is like a travelling office; meaning, you can spend more time visiting important locations instead of idling around at your office desk. Also, for better or for worse, you’re no longer available just from nine to five, but 24/7 thanks to your smartphone, allowing you to stay in touch with clients at all times.

Cloud accessibility 

Imagine having to sort different rent payments, contracts, manuals, etc., and then having to carry all that paperwork around with you in a briefcase. Instead, with a press of a button you can download and share vital information with others without too much hassle. Likewise, you can use smart cloud-based property management software from anywhere you like without having to repeatedly install new programs over multiple devices. 

Having your own app

Remember when having a website was the latest craze? There are a number of ways apps can be beneficial for property managers. For example, it can automatically collect rent, create logs, alert you of any approaching maintenance schedules, post vacancies, schedule appointments, etc. Additionally, instant messaging is the name of the game – hence why you need to provide tenants with appropriate platforms to communicate with you and your staff, directly.

Social media and virtual tours

Speaking of communication, it goes without saying that an active social media account is a must. Not only does it help you stay in contact with tenants, but it also allows potential renters to view the insides of your property from the comforts of their own home. On that note, augmented and virtual reality are becoming more and more sophisticated within the hour; so, it’s only a matter of time before property managers use virtual tours as a means of promoting their businesses.

 

At the end of the day, who knows? One day we might even find these obsolete and comical; but for now they’re the best technology has to offer.

mike johnston

Mike Johnston is a home improvement blogger, DIY enthusiast and sustainability buff from Sydney. He is a regular writer at Smooth Decorator and contributor on several interior design, real estate and eco blogs, always on the lookout for new ideas and the latest trends in these fields.

Topics: Property Management