Why Technology Matters in Property Management
The property management industry is experiencing a technology revolution. Landlords who embrace the right tools gain significant competitive advantages: lower operating costs, happier tenants, faster leasing, and better data for decision-making.
But with hundreds of PropTech solutions on the market, knowing where to invest can be overwhelming. This guide covers the essential technology categories and what to look for in each.
Core Property Management Software
Your property management platform is the hub that connects everything else. It should handle:
- Tenant and lease tracking: Central database of all tenants, leases, and contacts
- Rent collection: Online payment processing with autopay options
- Maintenance management: Work order creation, tracking, and vendor coordination
- Accounting: Income/expense tracking, owner distributions, 1099s
- Reporting: Financial reports, vacancy tracking, delinquency monitoring
Top Platforms to Consider
- AppFolio: Full-featured, great for residential and small commercial
- Buildium: User-friendly, good for growing portfolios
- Yardi: Enterprise-grade for larger operations
- RentManager: Highly customizable for complex portfolios
Online Rent Payment Solutions
Offering online payments isn't optional anymore, tenants expect it. Benefits include:
- Reduced delinquency (autopay dramatically reduces late payments)
- Faster processing (no trips to the bank)
- Better record-keeping (automatic documentation)
- Multiple payment options (ACH, credit card, etc.)
Smart Building Technology
Smart building systems reduce costs and improve tenant experience:
Access Control
- Keyless entry systems (eliminate lockouts and rekeys)
- Package lockers (solve the package theft problem)
- Guest access management (no more lost keys)
Energy Management
- Smart thermostats (reduce HVAC costs 10-25%)
- Automated lighting (motion sensors, schedules)
- Water leak sensors (catch problems before they become disasters)
Tenant Communication Tools
Modern tenants expect responsive, digital communication:
- Tenant portals: Self-service for payments, maintenance requests, documents
- Text messaging: Fastest way to reach tenants for urgent issues
- Email automation: Rent reminders, lease renewals, community updates
Leasing and Marketing Technology
Fill vacancies faster with the right tools:
- Listing syndication: Post to Zillow, Apartments.com, and dozens of sites simultaneously
- Virtual tours: 3D tours and video walkthroughs for remote prospects
- Online applications: Streamlined application process with integrated screening
- E-signatures: Sign leases remotely (required in modern rental market)
Data and Analytics
Make better decisions with the right data:
- Market rent analysis: Tools like RentRange or Rentometer for pricing
- Operating benchmarks: Compare your costs to industry standards
- Predictive maintenance: Use data to anticipate equipment failures
Technology-Forward Property Management
Property Perfected leverages best-in-class technology across all our managed properties. From automated rent collection to smart building monitoring, we deliver the efficiency of a tech-enabled operation. Request your free portfolio analysis to see how technology can improve your property's performance.
