A Guide to the Current Technology in the Property Management Industry

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Are you a property manager? Or, do you own properties where you hire property managers?

If so, it’s time to get on board with some new technology to make things easier for your company and your tenants. Property management technology tools can give you a leg up on other companies, as they’ll help your company appear more trustworthy, reliable, and user-friendly. 

Read this property management industry guide to learn about the current technology that’s shaping the future. 

1. Offer Virtual Reality Tours 

The COVID-19 pandemic changed the way we communicate, with many companies switching to virtual meetings instead of in-person ones. With so many people preferring to do things virtually these days, it’s time for your property management team to get on board. 

Virtual reality property tours allow out-of-state tenants or those who don’t have time for in-person showings to view properties from the comfort of their homes. With this technology, tenants can get a full view of your property without ever having to set foot in the door. 

Not only does this help your tenants, but it can also help property managers, as they won’t have to run from showing to showing. 

2. Ditch the Paper and Switch to Real Estate Software 

Gone are the days of conducting real estate transactions on paper. In an increasingly paperless world, it’s time for your property management team to adapt. 

Instead of printing out contracts, you can offer them on your website and store them in the cloud with a tool like Dropbox. Communicating with tenants, taking care of paperwork, recording maintenance activities, and bookkeeping no longer need to be done on paper – there are software solutions for all of these tasks. 

We recommend investing in account and bookkeeping software to take care of your financials and real estate software to help you organize tenant information, maintenance requests, and more. Discover more about property management software here. 

3. Promote Your Property Online 

Gone are the days of simply listing your rental property on Craigslist and hoping for the best. Nowadays, it’s crucial to leverage online marketing strategies to promote your property. 

If you have more than one property, creating a website for your rentals is a good idea. The site should be complete with photos, VR videos, rent information, and rental application steps. 

You can also create social media pages for your properties, and you can list your properties on sites like apartments.com and Zillow. Additionally, you should ask your tenants to leave reviews for your rental properties on Google to help attract more interest. 

4. Set Up Communication Platforms and Resident Portals 

To make communication with your tenants as seamless as possible, we recommend investing in a communication platform like RealPage or Active Building. These platforms allow you to send mass emails and make building announcements for all your tenants to see. 

A resident portal allows you to enable online payments, package tracking, key management, service requests, amenity reservations, and more. 

Property Management Industry: Time to Get On Board With New Technology! 

Taking advantage of the above technological advancements will help your real estate business grow. It’ll also make life easier for your property managers and tenants. 

Check back in with our blog for more real estate-related tips! 

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