Being a Serial Entrepreneur and Digital Transformation Specialist, I would say Property Management Businesses should start prioritising the safety and flexibility of the Property Occupants, especially in the Post-Pandemic Era hoping to make better use of advanced technologies such as PropTech, IoT, Artificial Intelligence and Big Data to develop more transparency and remain competitive in the marketplace.
One of the most prominent trends in real estate technology today is a focus on Property Occupants' increasingly sophisticated needs.
Understanding the impact of IoT and the importance of Automation, Big Data, and Artificial Intelligence brings Property Managers as well as Landlords one step closer to providing Property Occupants with exactly what they want from modern spaces.
While there are signs that demand for office space is increasing, we are still in a renewal world, and Property Owners will need to keep their Property Occupants at all costs.” Therefore, Occupant Experience Technology is significantly important.
You can also refer to, The Value In Time Within Property Management & How PropTech Can Make Lives Easier
Driving Safety and Flexibility of Property Occupants Through PropTech and IoT
Over the past decades, there was a gap between what the Property Managers knew and what was happening in the properties in terms of the Occupant Experience. Therefore, considering the needs and wants of Property Occupants is an important part of the decision-making process.
We at i4T Global, believe that occupants’ safety, satisfaction, and customer experience are more important than ever. i4T Maintenance being one of the product verticals of i4T Global, offers a vertically integrated software suite for Property Managers and Property Occupants to improve collaboration, streamline daily workflows, and reduce risk.
You can also refer to, How Does The CMMS Software Optimise Facilities, Property & Maintenance Management?
Improves the Home Search Experience
Ever since listings became searchable online, technology has played a vital role in helping buyers in streamlining their home search
However, searching for a new place to live can be a daunting task. Almost every home-searching engine filters out the best homes based on factors such as price, location, number of rooms, size, and so on. Although this model has proven to be effective, it frequently presents potential buyers with far more options than they are willing to consider.
This is where the AI Algorithms come into play. Many of today’s home search tools can use those search criteria to identify the user’s preferences and select properties based on those results. The system then shows the best-matching listings at the top of the search results and recommends additional listings accordingly. It also considers the preferences of other users who have looked at similar properties, which helps in identifying customers’ preferences after a few search inquiries, allowing for a greater level of personalisation.
Various factors influence the desirability of a property. Our lifestyle is constantly changing, and our tastes shift resulting in a continuous need to tailor living conditions to meet the ever-growing demand. AI developers can assist Property Management Businesses in identifying those needs and wants and provide search results that meet the expectations of the Property Occupants.
It is also important to recognise that AI's role is to assist humans rather than to replace them. The home-buying experience is frequently personal and emotional
Regardless of how refined these technologies become, emotional AI is a future outlook because it cannot detect and interpret humans’ complex emotional cues. Well, maybe this could become possible in the foreseeable future, who knows?
You can also refer to, Can PropTech Replace The Property Management Professionals In The Future?
Helps to Determine the Property Value
- Buying Trends
- Mobility Metrics
- Crime Rate Statistics
- Nearby Schools
- Proximity to Highly Rated Restaurants
- Light Sources
- Seasonal Light Variations
- Time of day when the properties catch the most sun
- Other factors that cause discomfort
Embraces the 3D Virtual Tours
Without a doubt, Artificial Intelligence is primed to disrupt not only the Real Estate Industry but also many other industries and marketplaces. Virtual Tours and 3D Illustrations are the most recent technological advancement in the Real Estate Landscape. Customers can follow 3D views of the property online with Virtual Tours and 3D Illustrations. This is especially useful for properties located in remote areas or abroad, as well as those that are still under construction.
Virtual Tours with zoom-in, panorama, and speaking notes function as an easy and cost-effective way to conduct landlord-occupant meetings.
Other Property Management Technology Trends That Contributes to the Safety and Flexibility of Property Occupants
Smart Buildings
Usage of Cloud-Based Software
Automated Security
Property owners and occupants will be able to better protect their amenities with automated security systems. The more secure a property is, the more attractive it will be among tenants who give a higher weightage to the safety of their families.
Occupants feel more in control of their properties when they are able to monitor their properties via video surveillance. They can also reset codes, and manage permissions from their mobile phones. To take property security a step further, some landlords even include drones for the same. Such technologically advanced properties will become more common in the rental market in the coming years.
You can also refer to, Recap of Field Service Management Market in 2021 and the Trends that will shape the FSM Sector in 2022
The Utmost Best Solution to Maintain the Safety and Flexibility of the Property Occupants
i4T Maintenance PropTech is a purpose-driven Technology System working with Property Management Professionals and Trade Partners to transform their processes and the communities they serve. Our platform and marketplace are currently being used by Property Managers for Property Maintenance including the largest Real Estate, and Facilities Management Providers across Residential, Commercial, and Social Applications throughout the Globe. And this is just the beginning.
You can also refer to, Unique Value Proposition and Competitive Edge of i4T Maintenance Property Management Software
Final Thoughts
2022 holds big promises about some major leaps in innovation in the Real Estate and Property Management Industries. Generation Z has “occupied” the residual household, many renters have begun to look for more affordable options in the suburbs, and Property Managers have shifted their focus to digitally-enabled work environments and technologies.
The Post COVID-19 world has set its own rules, and market players are wise to keep up with the latest trends in Property Management Technology. If you own a Property Management Business and are looking for assistance from Digital Experts, please do not hesitate to get in touch with us.
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About the Author
Hot off the press!
Logan Nathan is a Serial Entrepreneur, Digital Transformation Specialist, Founder & CEO
of i4T Global, who is passionate about disrupting the status quo and challenging the traditional ways of solving problems when it comes to improving business processes and delivering exceptional customer experience.
Being in the Real Estate and Tech Industry for over 40+ years, Logan Nathan has assisted innumerable progressive companies in the Trades and Property Maintenance Sector to nudge the boundaries of traditional wisdom, question their current business processes, and become leaders in their niche through Digital Transformation.
