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The tech revolution of residential property management: 6 tips to make your job easier

In this post, we’ll share our 6 top technology tips for automating tasks, saving time, and improving your residential community relations.

Apr 1, 2021

As a property manager, you’re responsible for so many aspects of a residential building’s daily operations. You have multiple plates to keep spinning. And you only have so much time to do it in. 

But innovative technologies can take a substantial amount of weight off your shoulders

Cutting-edge tech enables property managers to streamline day-to-day tasks, reduce wasted time, cultivate greater communication with residents, and increase efficiency in multiple ways. 

In this post, we’ll explore how the latest solutions can improve property management, across hardware and software. 

Tip 1: Embrace the cloud for added convenience (and less waste)

Cloud computing has transformed business operations in diverse industries, from marketing to healthcare. And it can bring property managers a more flexible, convenient, efficient way to work too. 

The most immediate advantage is better organization. No more filing cabinets crammed with documents dating back years (or decades). No more carrying heavy contracts or brochures in your briefcase all day. And no more misplacing files you need to start from scratch. 

Cloud-based solutions (like Condo Control and Building Link) empower property managers to access key information and resources at any time, via a laptop, tablet, or even smartphone. Most browser-based tools, platforms, and services are optimized for mobile devices today. 

That means you can check the details on a contract or catch up on budgeting data wherever you are, with no need to return to the office. 

And last but by no means least: all your data and information can be backed up in the cloud for fast retrieval in the future

Tip 2: Make the most of data

Data has become a huge part of running a successful operation today. It’s never been simpler to collate vital information on customers (in your case, tenants) and understand them in greater detail. 

Studying data can provide you with fast insights into residents’ lifestyles, payments, communications, and more. Software specifically designed for property management can offer insights and analytics so you can review your tenants’ needs and spot potential hurdles, as well as opportunities for the property. 

As a property manager, you may be able to keep a record of tenants’ activities and behavior since they moved in. 

For example, checking where the majority of maintenance complaints tend to come from could indicate which age groups are most likely to be aware of problems that need to be addressed (e.g. retired residents who spend more time in their condo). 

This information may help you to provide those commonly affected with a more satisfactory living environment, and mitigate the risk of further issues in the future. 

Furthermore, data analysis may enable you to tailor your property’s website and communications to your target audience more effectively. 

Let’s say you have a vacancy to fill. By checking the relevant page’s visitor data (where they came from, how long they spent looking, what actions they took, etc.), you can determine what elements on the page need to be addressed to make it more appealing to prospective tenants. 

Tip 3: Cut overheads with no need for a dedicated office space

To follow on from our first point, the proliferation of cloud computing presents property managers with an opportunity to cut overheads and free up space. There’s less need to have a brick-and-mortar office.

Instead, property managers can actually spend more time on the sites they actually oversee. This may free up those funds spent on renting an office downtown and leave managers free to keep a closer eye on properties, while remaining connected to everything they need via their smartphone or tablet. 

Another positive effect is that managers may no longer be tied into a nine-to-five workday. They could do a little work at home in the morning, and make their rounds in the afternoon. Money saved on an office can be invested elsewhere. Plus, with the uptake in coworking spaces, property managers could rent a desk space instead of paying for a whole office. 

Tip 4: Faster, easier communication via online tools

Online communication innovations present property managers with numerous channels through which to interact with tenants, contractors, admins, banks, etc. from any location.

For instance, if a resident wishes to discuss a structural issue in their condo, an in-person visit may be unnecessary. You can initiate a video call and get a close-up view of the problem via your smartphone. Or, if you’re looking to bring your residents together for a meeting to share their thoughts, you could host a virtual meeting, or even host an online poll to make bigger (more collaborative) decisions. 

This would take minutes rather than the time needed to drive to the building. Simply identify the issue, reassure the tenant, and take the necessary actions. All through the device you carry in your pocket. 

Live chat, instant messaging, and video calls also make speaking with multiple people — possibly at the same time — simpler than ever. You can even implement chatbots to gather information and resolve problems passively. Let the software handle interactions and focus on your current goals, until you’re required to take over. 

Tip 5: Leverage 3D virtual tours to generate interest in properties

Offering virtual tours is a powerful addition to any property manager’s roster of tools. You can show potential new tenants around an available space, whether it’s still under construction or recently vacated. 

Static images can be transformed into 360 virtual tours, for a more immersive viewing experience. 

There are numerous experts out there who can really bring your images to life, by turning them into interactive and versatile tours. One local example is SeekBeak, who are experts in offering super engaging visual experiences for your potential tenants. Users can enter and exit at various points of the property, and you can track their interactions and use this to gather useful insights about the property too.

Tip 6: Modernize properties and keep tenants updated with elevator screens

The latest elevator screens are versatile additions to any residential building. They can inject a touch of sophisticated luxury, revitalize any elevator, and wow residents. But they offer more than aesthetic benefits. 

Digital elevator screens entertain and inform residents or visitors as they travel from one floor to another. They may see: 

  • updates on maintenance work being conducted in the lobby
  • local news stories 
  • tomorrow’s weather forecast 

This is a quick and easy method of communicating with residents daily. You can edit notices and post them from any device, for maximum convenience. Log in from your phone, update your notices, and carry on with your day. 

Elevator screens also save paper that might otherwise be used for sending memos to every resident in the building manually. That’s advantageous for any property management team committed to a greener ethos. It also reduces the risk of updates being missed and any related issues that may arise. 

Another benefit of adding elevator screens is generating revenue through advertising. This can create a passive income stream and fund improvements to the building or other initiatives to enhance residents’ quality of life. 

Even if you only implement one of the solutions discussed above into your operations, you and your residents will notice the difference

Vertical City works with property managers to install state-of-the-art elevator screens. We cover the cost of installation and maintenance, so it’s ideal for even the tightest budget. 

Want to know more? Get in touch today for your free screens.

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