Are you a homeowner of multiple properties? If so, then you know how important it is to keep up with the latest property management trends. Doing so has multiple benefits:
- Greater efficiency
- Increased transparency
- Improved communication that reduces risk to and for service providers as well as seasonal homeowners.
While Jupiter, FL has a median age of 46.1 years, more Millennial and Gen Zers are entering the market. Unsurprisingly, then, all facets of the local real estate industry are embracing modern technology. This focus on property technology is echoed in the trends explored in this article.
Better Communication Methods
Communication with property managers can make or break most business relationships.
Property owners expect to be kept in the loop at all times. Similarly, they want to contact their estate management services provider whenever and from wherever they are. Feature-rich technology now simplifies communication between residents and property managers, tenants, and facility managers. Examples of innovative communication methods include:
- Centralized community information (for example rules and regulations and contracted service providers) is readily available.
- Push notifications enable property maintenance firms to send notifications, news, and feedback to users in real-time.
- Task manager portals assign individual tasks, tracks progress, and coordinates completion.
- Streamlined requests and approvals.
- Digitalized billing offers hassle-free accounting solutions to receive and view your bills online.
Previously regarded as nice-to-have, use of cloud-based property management software exploded during the pandemic.
Now, despite a return to more normal day to day operations, the functionality of real-time information sharing online has forever changed our expectations.
One way that cloud-based PMS makes managing your properties easier is that homeowners and property management companies have access to pertinent information so everyone can work together to ensure consistent results.
Offsite data storage also means that even if the server is hacked, you don’t have to worry about sensitive information falling into the wrong hands. The chance of data storage issues is further reduced by the fact that most cloud-based systems offer automatic cloud backups.
The rapid uptake and acceptance of virtual tours of properties during the pandemic proves that this trend is here to stay.
Video tours are a win-win solution to showings. Property managers and prospects save time, while inconvenience to current tenants is kept to a minimum.
Digital Amenities are on the Rise
Digital amenities are electronic services that empower residents. For example, some digital amenities include:
- 5G and free (or at least, affordable) Wi-Fi. High-speed and reliable to support WFH or hybrid models of working.
- Keyless access control uses smartphones to unlock doors via a specific app.
- Smart utilities use the internet of things (IoT) to collect and monitor information about systems in your home. Unusual temperature, speed, or vibration readings trigger an alert in real time. Additionally, your smartphone can be used to control settings in your home ahead of your arrival.
- Smartlocker storage is a seamless way for online shoppers to receive packages. A digital message is sent upon delivery and includes a unique code to unlock the specified locker.
- Parking management amenities reserve parking spots in advance using an app.
Digital amenities provide many benefits over and above the obvious convenience. Security is improved, satisfaction is increased, and many amenities are more cost-effective than their physical counterparts.
Your properties may not be your primary source of income, but they are a serious investment that is worth protecting. Stay ahead of the curve with these property management trends. Get in touch with the Florida Estate Management Services team for more information.