There is no argument, technology has changed the landscape of nearly every industry in the world. That includes property management. There are many positive outcomes from technology but also some downside. So, should you abandon technology and go back to a more one on one personal relationship with your tenants?
In short, No! However, there is a balance that can be had and to see the best results, you need to know where that balance lies, for today anyway.
Is it possible to go completely technical in all aspects of property management? I would say no as of today but that is quickly changing. Look at the storage unit industry. They now have self-serve kiosks for renting units, gaining access, signing leases and everything else. Can this amount of automation work in other markets such as the vacation, commercial and residential?
Vacation Rentals (short term)
If you look at the vacation rental market, their technology is closer to fully automated then the typical commercial and residential markets. With sites like VRBO, you can apply online, book dates, pay deposits, sign documents, gain access via electronic locks, order cleaning servicesand more. In fact, you don’t even have to speak with someone with a pulse from move in to move out. Any communication is typically handled via email or SMS.
How about No Technology
Going without any technology wont’ work today. Too many people are technology savvy and expect certain things. Such as online applications, paying bills etc.
PropertyZar is working hard to provide an online property management solution that will automate the entire rental process, much like the vacation rentals are today. This is not easy as there are other factors that exist for long term then exist for short term. But we have made great strides with automation so far. PropertyZar is working on including vacation rental management into our property management suite. Many of the short-term rental features can also be used for the longer termleases. Such as self-showings, bookings, e-documents, e-services (maintenance, cleaning etc.), e-payments and several other features.
This technology is already available. Putting them all together into one awesome property management solution is our goal. Soon, there will be one software solution available for all mixed portfolio types.
As technology becomes more like a kiosk for renters, property managers and owners should see an increase in their bottom line.
PropertyZar is a real estate technology company specifically in the web-based property management software for owners and professional property managers. Read more Top Property Management Blogs. Learn more www.PropertyZar.com