New technologies are helping to streamline everyday property management tasks, improve resident satisfaction, and reduce financial issues.
If you want to lower your stress levels, improve communication with tenants, and fill vacant spaces at a quick rate, there are some tools and gadgets you’d be wise to incorporate into your operations.
Simplify your responsibilities by learning about the three cutting-edge technologies that all property managers should use.
1. A Property Management Solution
Many residents might not be forthcoming with an issue or eager to say face to face what they do and don’t like about a property.
As a result, it might feel difficult to gather honest feedback from tenants, which can impact their satisfaction, rental payments, retention, and your reputation.
Ignorance isn’t bliss in property management, as an unhappy tenant might not think twice about paying their rent late, writing a negative review online, or criticizing the property or your company to others.
If you want to identify your strengths and weaknesses, quickly resolve issues, prevent poor online reviews, and improve retention, consider investing in a property management solution.
For instance, multi-family property resident satisfaction survey software is an ideal option for those managing a residential building with many housing units.
It is an effective way to gather valuable insights and reviews from more than one tenant while providing them with a voice. After receiving their feedback, you can promptly act on their worries or issues, which will create a sense of trust and secure their loyalty.
2. IoT Devices
The Internet of Things (IoT) connects various devices to the internet, allowing them to gather and share data.
As a result, it is ideal for property managers, as they can use the information to make smarter decisions and streamline management tasks.
For instance, the data could help you identify if a device or appliance is likely to break down, allowing you to fix it before it becomes a problem for a resident.
Also, you can monitor various aspects of the property to ensure its smooth running and safety, such as its security, temperature, or water usage.
Common IoT devices many forward-thinking property managers use include:
- Leak detectors
- Smart thermostats
- Smart locks
- Security cameras
- Energy management systems
- Smart smoke detectors
3. Virtual Reality Property Tours
Many people are unable to attend a physical showing of a property for various reasons. For example, they might be relocating from overseas or have a demanding career.
Fortunately, virtual reality (VR) property tours are an innovative way for property managers to showcase a house or apartment, as a prospective buyer or tenant can take a virtual walk through each room from anywhere in the world.
VR technology will provide a prospective resident with a realistic, immersive experience to learn about a property’s size, shape, layout, and interior design. It’s a quick, convenient, and easy way to sell a property or secure a tenant.
Also, it enables buyers to shortlist or rule it out immediately, which will prevent them from wasting their time and energy on a physical visit.
