Technology has become an essential and fast-evolving part of how a successful property management business functions in the 21st century. The development of brand new innovations in smart technologies has made life easier for the operation that’s in the business of marketing, selling or managing properties. And of course, the customer/resident benefits too.

1. Building management streamlining

Smart technologies offer an efficient round-the-clock solution for streamlining building management. Every phase of the leasing cycle can be automated with specially designed smart home solutions that connect to the management system in the property, through a mobile device that controls everything remotely.

Rental market day-to-day operations are simplified by smart technology that allows property administrators to enter information and to access it at anytime. The analysis information can be used to identify trends, predict potential problems, and to take preventive measures.

Intelligent building control systems can be easily employed to remotely control lighting, air conditioning, and power generation, whilst also eliminating the need for staff to check or monitor problems.

Real-time energy consumption monitoring, via analysing smart tech, allows property managers to quickly see how much energy a system or appliance is using. Smart meters are a crucial tool in predictive maintenance. They can track the energy consumption of appliances, and also indicate if it’s currently working harder than usual.

2. Desirable smart home tech

A property manager’s job becomes much easier with access to desirable smart home tech.

Smart sensors can alert that there’s a problem like a leaky pipe or a broken window, without the need for the tenant to make a maintenance request.

Smart thermostat management can be optimised, with energy-efficient schedules that observe peak and lull times, to reduce heating and air conditioning energy output and consumption.

Adding a smart doorbell can also make a property much more appealing to potential renters or buyers. The enhanced security provides a sense of safety for the tenant, while also enabling the property manager to monitor empty units more easily.

3. Protecting property investments

Installing intelligent home security systems, like cameras and sensors, has made it simple to monitor and protect property investments.

Smart security cameras and sensors can capture and relay images remotely. They can also keep track of what's going on in the property when it’s vacant.

Smart sensors can be positioned at an entrance to monitor movements at a property, and to set off an alarm if anything seems suspicious. In a building, the sensors can immediately detect the difference between a person, a pet/animal, and an intruder.

As the information relayed by the smart technologies is stored on the cloud, the property administrator can access recordings from any timeframe at any time, and from any location.

4. Self-touring technology

Properties that are listed with a self-touring option generally attract more renting and buying prospects.

Self-touring technology allows prospects and property managers to schedule viewings out of business hours. The integrated software-hardware solution combines a mobile app or web experience with smart access devices to create a secure and independent property viewing experience.

Self-tours can be scheduled directly from listing sites. The prospect will be sent a link to their mobile phone with step-by-step instructions for viewing the property. Once the tour is complete, feedback can be provided, or an application submitted directly from their device.

5. Increasing property value

Renters and buyers are willing to pay more for a property that’s upgraded with integrated smart technologies.

A property that features an intelligent system that enables the automated dwelling to effectively manage and conserve energy, provide comfort, safety and security, and offers the property manager access anywhere at any time, is highly desirable.