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App property meld4/10/2024 ![]() Using Technology for Property Management Operations Showcasing some of these technologies and the convenience they create can also be a compelling way to attract prospective tenants to your properties. Online maintenance ticketing, for example, can provide a fast, straightforward way for a tenant to make a repair request, which property managers can view, send off to a vendor, and track through to completion. Smart property managers are keeping up with renters’ preferred payment methods and introducing solutions that are a win-win for their tenants and their own business. Reporting on-time payments to credit bureaus.Tenants of all age groups want their property manager to offer digital options. But these expectations are also starting to extend beyond a single demographic. The pandemic has partially been responsible for this, along with a larger percentage of younger, tech savvy tenants entering the rental market. Likewise, most renters ( 90% as of 2024) are open to taking care of tasks related to their rentals online. They’ll be able to access the details they want in real time and at their own convenience through the portal, which means your clients can have many of their questions answered and needs met without additional effort for your team. In response, companies have turned to property management software, particularly those that include owner portals to give their clients access to essential details, from inspection findings to monthly reports. The majority of these rental owners now want the property management company they work with to handle several functions online, including: Using Technology to Keep Up with Owner and Tenant ExpectationsĪccording to our 2024 Industry Report, 95% of rental owners are comfortable conducting business online, a figure that has grown consistently over the past few years. That’s a tall order for any one investment to fill and a lot to keep in mind when evaluating your options, so let’s break things down a bit further. By putting valuable business insights at your fingertips, they can help you make smarter business decisions about everything from structuring your team to setting your marketing budget, helping you to grow and unlock new revenue streams. They make the experience of working with owners, communicating with tenants, and handling the nitty-gritty of managing each unit, lease, work order, and vendor relationship easier.īut they can also go one step further. ![]() Ultimately, property management technologies are time saving tools. ![]()
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