4 Property Management Tech Trends to Watch
The influx of more advanced technology has made its way into nearly every industry in America. This also rings true in the property management industry, where major up-and-coming tech trends will create a better tenant experience. As some property managers and management companies have already implemented these trends, it is projected they will continue to advance as the future of tech develops.
So, what are some of the big property management trends that we’re watching for 2019? The 4 below are a few of the hottest technological trends on the rise for property management.
Artificial intelligence is an incredibly powerful way we can make property management more efficient, ranging from virtual assistants being installed in apartments (think Alexa or Siri) to assistance for management directly. AI’s ability to learn and adapt can create tenant experience like never before. Think about being able to report issues, change the temperature, and lock the doors, all with the sound of your voice or a tap of your phone.
With the rise of e-commerce and more advanced delivery options, people are ordering packages more than ever. This can make smart lockers an extremely beneficial tool for property managers to help with various problems that have arisen due to the e-commerce boom. These issues include package theft, packages piled in hallways or mailrooms, and delivery confusion. The installation of smart lockers can solve this by using digital programming to allow a package to be delivered, and the recipient can receive the goods via private code. This not only thwarts thievery but also creates a simpler delivery process. It also helps with the issue that legally, the USPS is the only delivery service who can access mailboxes.
Drones have been popular, and a bit controversial, in the past few years. However, they are beginning to make their way into various industries including property management. Managers can use drones for property surveillance to create a stronger sense of security for tenants. Drones can also be utilized to monitor areas like roofs and be deployed to search for building maintenance issues. This allows repair and maintenance teams to save valuable resources, which lead back to a successful management team.
Virtual reality or VR, is normally associated with video games. However, VR can help property managers in a myriad of ways. It can assist in repairs by creating computer-generated images. VR walkthroughs can be created when changes need to be made. Property managers can visualize how changes will look prior to them being made in an extremely realistic way.
Overall, technology is constantly developing. We will have to keep an eye out for these trends, as well as additional innovations to the property management field to see how and into what it can evolve.