Advancements in the way information is shared, accessed, and managed in every aspect of our lives continue to shape the way communication takes place. This presents a new opportunity for property owners & managers, who are turning their attention to more efficient mechanisms for engaging and interacting with tenants & residents.
For property owners & managers, being available goes a long way in developing a good relationship with apartment dwellers. Whether it’s an emergency maintenance request, an important question from a tenant, or a scheduling mixup with a vendor, communication today occurs via many different channels including e-mail, phone call, text message, and even social media. Being easy to get a hold of, while keeping a record of interactions, can be a challenge in an increasingly fast-paced world and a growing portfolio. Fortunately, there are new technologies and processes helping shape the future of property management.
One way technology answers the call is through the development of mobile applications seeking to enhance the tenant & resident experience, such as streamlining communication between managers, residents, and building staff. A centralized communication platform eliminates hours of effort and reduces the amount of paperwork that needs to be completed and stored.
The added efficiency and transparency associated with new property management software will change the way property owners & managers engage with tenants & residents forever.
New generations of tenants & residents appreciate the ease of access to resources and information, keeping them happy. Meanwhile, owners & managers can differentiate their properties from competition by offering a mobile solution for tasks such as:
- Paying rent & maintenance
- Submitting and scheduling repair requests
- Accessing digital copies of lease and other property-related documents
- Viewing announcements and events scheduled within the property & neighborhood
- Finding home services such as housekeepers and handymen
Traditionally, property management software has focused on mid- and back-office operations for owners & managers, such as managing leases and book-keeping. However, new solutions recognize that the most valuable component of a software for owners & managers is its' impact on the tenant or resident experience - that which will keep good tenants in your property for longer and allow owners & managers to demand above-market rents or management fees.
To learn more, check out our post on how apps like Bixby differ from more traditional property management software systems.
Property Management of the Future
The sophistication and scope of property management has evolved over time, leading to the development of third-party software and services (such as Bixby), most of which intersect the tenant-manager relationship in one way or another. It's a win-win situation for both stakeholders: tenants & residents receive better service, more comfortably and conveniently, while owners & managers benefit from a more efficient management operation, leading to less phone calls, emails, & headaches.
We've only just begun to experience the revolution in property management that new technologies have created. It's exciting to think about all the great opportunities that the future will bring to real estate.