Topic: Technology trends in the Property Management Industry

Susan's Avatar Topic Author
  • Karma:
  • Posts: 6
What role is new technology playing in the Property Management industry? Are offices using Tablets? And if so, to what extent? How about texting services? Paperless or almost? Cloud services? Internet Listing Services? What is your best form of Internet Advertising?
Posted 11 years 7 months ago
Herb Spencer's Avatar
  • Karma: 2
  • Posts: 122
This is a good topic. I will say that the new technology is mostly in the eye of the beholder (user). I am sure a lot of property managers actually use most of what you listed. (Even if they have to buy it themselves, rather than it being furnished).
Let me say I have been in property management since 2002, and the PMC did not furnish computers even until 2010. At that time, there was a lease software for the subsidized complexes that was intended to calculate the subsidized rent and prepare all the documents. It had so many glitches, it was abandoned. No one seemed to be able to figure out how to make it work correctly. We immediately went back to doing all the paperwork by hand and calculator. We still are (although I am now retired).
The PMC does run some on line ads through USDA Rural Development, and another on line listing of all their properties. Most advertising is done through putting up a "now leasing" sign on the lawn, or running a newspaper ad.
In 2011, the managing agents got laptops to be able to hook into their office computers while on the road.
Learning to use this stuff comes by doing, not by going to some class. I have most all of what you listed but, being a gadget nut, I bought it myself. I am an old coot and I still learned to use it all, because that is the way I am. Most people my age won't have anything to do with a tablet or even a smart phone if they can help it.
All this was made for the younger folks. I can run any apartment complex with a calculator and phone. I don't have to have any of it, although I would qualify a cell phone as a necessary evil.
👍: Susan
Posted 11 years 7 months ago
Baidra Murphy's Avatar
  • Karma:
  • Posts: 3
I wouldn't call myself a gadget junkie but I do like to use tech to streamline my process. If it is user friendly, accessible and serves a need - I will use it.

My favorite tech tools/services:
iPhone
Scanner
Online forms
Online doc storage (google, Evernote, Box etc)
Online signatures
CAMERA!

I do text with tenants as well as email. I like the 'data' trail.

Once I have a pdf of a lease or any doc, I store it in a place that I can access by my iPhone (I like Evernote & Google Docs). I can access a lease or addenda if there is ever a question and even email a copy to a tenant or client.

I love online forms for the mobility and clarity (no more confusion caused by handwriting!).

Online signatures (DocuSign etc): I will use these if necessary but really prefer a wet signature.

Camera - where would property management be without a camera? I take pictures with my iPhone (repairs) or DSLR (listing photos). I can email photos immediately when dealing with repairs (contractors, clients). It has saved me tons of time!

Online advertising:
At the moment, the market is hot and competitive so a post on Craigslist and a sign at the property is bringing in plenty of qualified tenants. I have a love/hate relationship with CL due to the insane amount of scams. Another PM suggested superimposing your phone number on the photos to cut down on the chance that they'll be stolen. I also post a follow up on the same board once the property is rented (123 Elm St, Anytown is Leased!). This has helped cut down on scammers.

As much as I love tech, I am also a believer that 'everything old is new again' - nothing beats facetime! I've noticed how much prospective tenants enjoy meeting me in person and having a personal call to answer questions. It seems to relieve some fears.

Good question! Thanks for posting!
👍: Susan
Posted 11 years 7 months ago