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3 Tech Trends that Will Change the Way Property Managers Work

Posted by Mitchell Vinnitsky on Aug 27, 2019 6:00:00 AM

3 Tech Trends that Will Change the Way Property Managers WorkOne of the biggest challenges business executives face is predicting and preparing for what the future may hold. The property management industry is no exception to this rule. The good news is, we’ve already done a lot of the legwork on your behalf and uncovered a few of the top tech-related trends that we believe will disrupt the way property managers work in the not-so-distant future. Here’s what we can reasonably expect.

Automation and AI will become even more integral.

The question of whether artificial intelligence will become a part of our everyday lives, both at home and in the workplace, is no longer “if” but “when.” The fact is, property management companies that leverage automation to augment and boost the human capability will position themselves at a distinct advantage over their competitors. The key is to think of AI as a force multiplier, not replacing the need for human workers, but rather enabling them to perform more meaningful work in a more efficient and effective way.

Reskilling will become a necessity.

The job market is at an all-time high, with no end in sight, at least for a while. As such, property management firms will continue to struggle to recruit and retain new employees who possess the technology skills necessary to drive digital transformation. As an alternative, savvy organizations will look to reskill existing personnel in order to keep up with the evolving industry. Internal and external training programs that incorporate artificial intelligence should become a primary focus.

Human connection will still matter.

Despite the shift toward AI and automation, experts believe that people will continue to crave personal, human connections. This will be true both for internal employees as well as external property management clientele. The ideal solution will involve a balance that leverages technology for the more menial, repetitive tasks and workflows while freeing up human workers to apply their cognitive and emotional intelligence to initiatives like service and business process improvement.

Like it or not, the world is changing and at a remarkably rapid pace. Property management executives must do their best to keep their fingers on the pulse of the industry if they are to remain ahead of the curve. If not, they risk being left behind. The three trends above should provide a good foundation for adapting to and strategizing for the future.

Topics: Productivity, Press Releases, Technology, Property Management

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