Industry Insights

Tech Tools That Improve Efficiencies for Property Management Companies

August 04, 2020 |

Property management as we know it is changing. New tools, innovations, and ideas are shaping proptech in 2020 and beyond. Technology with advanced capabilities is helping to improve efficiencies for property management companies and now, there are software solutions and gadgets to help them deliver amazing experiences to guests while streamlining their operations.   

Property Management Apps
A property management app is the best option to provide the versatility and flexibility hosts need on-the-go. Supervisory staff need to be able to maintain communication with guests and workers on and off-site. In addition, apps allow property management companies to access pricing and respond to requests or inquiries at all times. Therefore, guests who need assistance or those who have questions prior to booking will receive prompt customer service. Securing more bookings and having satisfied guests will help to boost revenue, all from the convenience of a mobile app.

Energy Monitoring Systems 
The Internet of things (IoT) is transforming the ways properties are monitored, too. By having sensors on location, or using a home automation system like Operto, you can collect and convert energy consumption data that can be analyzed in reports. These building monitoring software solutions help managers efficiently track utility usage and needs across all properties. 

Security Bots
Property management companies process confidential information online every day as a critical business operation. Financial information from credit cards and bank accounts are necessary for bookings. Identification documents such as driver’s licenses, passports, and social security numbers are often required to be uploaded online as well. Therefore, having the proper security measures in place is fundamental. One solution is to implement RPA Security Bots to encrypt transactions, protect data, and ensure employees have secure access when logging on and working with sensitive information. Attempted data breaches and threats to privacy occur daily. Security bots can help to monitor and prevent security breaches and protect business data 24/7. 

Smart Doorbells
Installing additional smart gadgets on properties can be a great addition to ensure on-site security. Smart video doorbells with cameras can help to protect your properties and your guests. Cameras can monitor the entrances of the property to ensure that tenants are not bringing un-approved additional guests. These devices help to make sure that guests are abiding to times when they are supposed to check in and out and that they vacate the premises when the lease terms are up.

Analytic Tools
Property performance is essential for evaluating the bottom line. It can be difficult to analyze key performance indicators across multiple properties and generate reports. Analytical tools, like the ones built into the Guesty platform, can provide insight into booking data, overall revenue, and expenses associated with each property and more. Being able to conveniently evaluate metrics in one place can help property managers to make strategic decisions and improve overall property performance. 

Rely on Tech Going Forward
Property management companies have to wear many hats to effectively keep all aspects of their businesses running smoothly. Using tech tools can help professionals reduce stress and make completing tasks easier. From software solutions to gadgets, technology is truly taking property management to new heights.

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