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The five property management technology trends to watch out for

June 26, 2019

Nothing remains the same for long in the property management sector, particularly with the increasing number of tech-savvy millennials swapping life in the family home for buying or renting their own place. This generation have their own requirements and expectations that are driving big changes in the way properties are marketed. What are we seeing in 2019? Let’s take a close look at the technology trends.

Augmented Reality

There’s no need to draw pictures in your mind anymore. All you need is a mobile phone and an app that helps you visualise where you’re going to place the furniture, the colors of the walls and any other interior design details. You can use software to see the picture as if it’s real and change it until you find the right look.

The most popular AR property management apps include the likes of:

Digi-Capital states that “mobile AR could become the primary driver of a $108 billion VR/AR market by 2021,” with AR accounting for $83 billion and VR accounting for $25 billion respectively.

Cloud-based Solutions

There’s no need to download apps to see properties for rent or sale. You can also do so via a web-based solution where a user can log in, enter their search criteria and access immediate results. These software solutions are fast, lightweight and contain high-quality images.

Popular options include the likes of:

Digital Assistants

If you want to ask a question or make a request, the answer should come as fast as possible. One well-known such example is Siri but similar apps for property management also exist.  For example, if a prospective buyer or renter is looking for an apartment with a specific list of requirements, a digital assistant will provide a list of most suitable solutions. Here are some of the key tasks that a digital assistant can help with:

  • Check properties for rent
  • Answer calls from prospective tenants
  • Provide instructions to tenants moving out
  • Encourage existing tenants to renew
  • Communicate with tenants

Mobile comes first

With mobile phone usage continuing to grow, mobile solutions are at the forefront of innovation in property management, together with the Internet of Things. By this we mean all portable devices such as a smartwatch, home appliances or any other smart gadget.

If your website is designed to be mobile-first, it typically get a higher ranking from Google, boosting your search engine optimisation . You will have a wider audience and more visitors as a result.

A mobile first approach means you can have a wider choice of communication channels: video calls, phone calls, chats, messengers or sending recorded messages. You can take photos of an apartment and send them to a prospect located miles away. It’s fast and easy.

Social Media Interaction

Social media can play a key role in helping you to source useful information about the needs and requirements of the people that you might work with in the future. Platforms such as LinkedIn and Facebook enable you to create personal and business pages where you gain points in a form of likes, shares, and comments. The more people you attract the more trust you will gain.

There are numerous websites that offer a set of free tools to promote yourself. But you can also use advertising to get a greater reach. Case studies and real-life stories can help bring to life your property management credentials. Better still, creating viral content that’s read and shared by large numbers of viewers is a sure-fire way to for you and your services to b become much better known.

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