There is no doubt that business in the 21st century is driven and supported by technology. After all, the tools we have at our disposal now – think smartphones, tablets and powerful computer systems – were not available just 20 years ago. When it comes to the world of property management, both commercial and residential, you might not immediately consider technology as being a driving force.
In fact, the way technological advances have shaped property management over the past few years is very noticeable, and it has brought some very valuable resources to the fore. Below, we will outline 5 ways in which technology that has recently been developed helps in the world of property management.
Information Processing – when we talk about visualization, we are actually talking about a number of factors. First, when handling a number of properties, there is a lot of information to process, and it’s becoming even more so. There are software packages and platforms available now that enable you bring up any aspect of the property – or several – at any time, with the touch of a button. Leases, and other information, can be brought to the fore in an instant, and presented in an easy to see fashion.
You can have information on properties in different forms, details of tenants and potential clients, and produce reports for presentation that are clear and concise, and all in very little time. The ability of modern, hand-held devices to process such information is considerable, and you need to get up to speed with it if not already there.
3D Visualization – let’s imagine that you want to show your potential clients around a yet to be built property that you are handling. Or, you have an empty building, and want to show them what it would be like with furniture installed. Perhaps you have clients who are currently far away, and who want to view a property from afar? How do you enable this to happen?
You use one of the available 3D Visualization packages. What we are talking about here is a computer-rendered walk-through of the building, and these are very realistic renditions of internal spaces. Your client can ‘walk through’ the building on a computer screen – or some systems use Virtual Reality packages – and see the space as it will eventually be. The effect is impressive, and many a lease has been signed with this sort of presentation. It brings clients from afar closer to you.
Satisfying Clients – there are some technological features that are designed to help the tenants, which in turn means they are more likely to take a lease from you than from a competitor. What are we talking about here? Well, think of what you can offer your clients, beyond just leasing them a property, be it a home or a business premises. What can you do that goes that one step further?
For example, what if you could offer tenants a bonus, such as being able to order at a restaurant from home, and not have to wait in line? Or perhaps partner with a taxi company nearby, and more? This is the sort of technology that encourages community in a building. There are many ways you can add value to your property over and above merely leasing, and the best ones are those that will be attractive to tenants. Also, think in terms of security; technology in the security sector has come a long way in just a few years.
Keep Your House in Order – many property management companies handle a lot of different clients, both property owners and tenants. Both sets of clients are as important as the other, and each needs to be kept up to speed. In Birmingham, Alabama, our property management company manages more than 600 properties; that’s a lot of information to handle and process, and keep up to date with.
Like most other property management companies, we use one of the effective and highly efficient information and data management packages that are specifically designed for property management use. Being able to process information quickly, and present it in clear and concise terms – remember, nobody has the time to wade through pages and pages of data anymore – means that everything can be kept up to date and in order, with no additional time wasted.
Smartphone Apps – we can’t talk about technology and property management without looking at the massive market that is smartphone apps. The smartphone is perhaps the most ubiquitous personal tool in the world right now, and it’s potential is quite stunning. In terms of property management, offering apps to your clients that enable them to perform certain tasks – perhaps turn the heating on and off from a remote location, or access the security systems – is something that can be achieved by talking to providers of such technology, and it is not expensive.
Also, technology has allowed for sensors to be built into homes and commercial properties that can automatically turn on light and heat when they sense people in the building – and optimize it to certain locations so unused areas and rooms are not routinely heated and energy thus saved – so you can offer your clients this as a money-saving device.
From the above few examples, it is clear that – as with all areas of commerce and industry – technology is providing property management service providers with plenty of opportunity to streamline their operations, to act more efficiently, and also to provide their clients and tenants with incentives and bonuses that make their property and services more effective.
The amazing capability of the smart phone means that the computing power at our fingertips is considerable. If you want to learn more about property management and the technology available, why not read some more of the excellent resources on the subject you can find online, and see just how you can improve your services and attract more business.