How technology is impacting property management

No matter the industry and no matter the job, advances in technology are causing changes to the way we work – and real estate property management is no different.

Property managers are in the business of building relationships, both with their landlords and tenants. Traditionally these relationships have been built through the hands-on nature of the job, however as technology further entrenches itself within our work systems, opportunities to form and build lasting client relations are diminishing.

The positive impact technology has had on property managers is easy to see. Improvements in the ways in which we use technology have resulted in a more efficient, accurate and less intrusive property management service offering. Maintenance issues are handled through an online system, statements and notifications can be received via email, while contacting prospective and current tenants has never been easier.

As the standard of work becomes more balanced across the industry due to the ubiquitous distribution of technology, the attribute that sets good property managers apart will be communication. The challenge for property managers will be balancing the use of technology to be more efficient, while maintaining and building the relationships that matter. 

Why is good communication so important?

Good email etiquette is important and should be a no brainer, the impact of hands-on communication cannot be overstated. As we become more technologically reliant, the number of points where property managers must make hands-on or face to face contact with their landlords is decreasing. Therefore, the impact these interactions have on the client are more important than ever.

Good communication and service builds long lasting relationships. It can be easy to forget or dismiss this because of the tech available at our fingertips. Property managers should be encouraged to take the time required to build real relationships with their landlords and tenants, and not rely on the efficiency gains technology affords us to retain their business.

This is what will set the successful agencies of the future apart.