Technology innovations over the past several years have really helped to improve both resident and property manager’s efficiency. Whereas Craigslist was the main way people searched for apartments in the past, nowadays apartment seekers are utilizing apps and technology to facilitate their search. In addition, new technologies are constantly being launched in the market by well-established and start-up companies to improve both analytics and process efficiencies for property managers (PMs).
Below are five technology tips for Property Managers to keep in mind to better serve residents. For more ways on how to harness the power of emerging technologies, read our article on innovative property management ideas.
- Know how your residents are searching for properties: In recent years, the way people search for an apartment has drastically changed. Today’s renters are much more tech savvy. In fact, more than 90% of people looking for their next apartment community first search online, with more than 60% of these folks searching on their mobile devices. To address this tech savvy renter, third party apps, such as Oliver, enable renters to browse and filter listings, while other apps like Rezi enable people to schedule multiple apartment visits.
- Organization helps you focus: In a recent blog, we provided some basic tips to help PMs optimize their precious time. Using software to help improve productivity is a must. Companies like Flat Tomato that have developed apps that helps identify the time you spend on distractions, so you can focus on activities that matter. In addition, companies like LaunchBar provide productivity utilities that offer an intuitive and efficient way to search and access any kind of information stored on your computer or on the Web. You’ll have instant access to your applications, documents, contacts, and bookmarks, to your music library, to search engines and more, just by entering short abbreviations of the searched item’s name. In addition to these two great applications, you can also use voice recognition to create text messages, rather than type long ones and take notes on a laptop or tablet for quick, easy access later.
- Communication platforms are key to efficiencies: Portals such as Active Building by RealPage can help keep property managers efficient in their daily duties through quality communications. Such abilities include making all-building announcements, and sending mass emails, texts and phone calls. In addition, PMs can set up resident portals to enable online payments, utility sign ups, package tracking, key management, guest authorization, amenity reservations, service requests and more. Such portals will not only make PMs more efficient, but improve the experience for residents as well.
- Cutting-edge technology sells: Increasingly, renters expect their apartment communities to provide new technology that makes their lives easier. As an example, more and more digital savvy renters are seeking easier payment solutions. Companies like Rad Pad are integrating payment solutions and mobile. Other companies like RentPayment similarly reduces the hassle of paper checks and improves the rent payment and collection process by enabling renters to pay their leases to property managers by credit card, debit card or e-check.
- Streamline operations: Software systems such as Yardi, Entrata and Realpage can automate and streamline your operations, including accounting, spend management, online payments, revenue management, reporting and more. Realpage also offers access to market intelligence including rents, renewals, retention rates, vacancies and affordability, which will optimize your financial operations.
What technology have you found to be useful to help boost your own efficiency on the job as a PM? Leave Parcel Pending a comment below.