The Changing Nature of Commercial Property Management

Technology continues to change the way we do business, even when it comes to property management. With new technology, property managers have the ability to use software to easily keep track of each property you own, knowing exactly when repairs are needed, maintenance checks and which properties are occupied or empty. With the use of software technology, gone are the days when property managers had to keep paperwork on hand and sort through files for information. And while technology has played a major role in helping managers stay more organized, it can come at a loss of face-to-face contact with tenants.

The challenge that property managers today face is dealing with the hands-on needs of the business but also integrating the new technology for more streamlined efficiency. While technology can be used to monitor and respond to issues of the tenant, management members also need to have a physical presence so tenants feel at ease and want to stay for long periods of time.

So how can the two go hand in hand? For starters, technology can be integrated into your properties via mobile devices. Specially designed software can be used to create apps that are then uploaded to mobile devices such as smartphones or iPads. With such technology, managers can better assist tenants with any repairs needs, maintenance or handle payments. Occupants can benefit because they have a quick connection to the property management team when a problem or question arises.

Available 24/7

The modern work environment has changed from a standard 9 to 5 to a more 24/7 approach. Many individuals work from home or a remote office and can take care of business whenever, night or day. With new technology, we are in constant communication and this can be the case for your rental properties as well. With the proper software in place, occupants or potential renters will have access to a slew of information.

For potential renters, management companies can offer virtual building tours or remote meeting capabilities. For current renters, the management team can offer lease renewals virtually as well as online banking needs. The options are truly endless and can help occupants, yourself and the management team stay connected from anywhere at any time. Staying connected is an essential part of commercial property management in Waterloo.

It is also important to consider the upcoming rental generation and those thereafter. Millennials and the incoming generations are accustomed to technology. They want to connect online so what better way to streamline your property business than to offer online capabilities. With a quality property management company in place that uses such technology, your clients will be able to have access to whatever they need with a push of a button. It is important for your properties to stay relevant and keeping up with the latest tech can help you to do so.

At Latitude Properties, we use optimal software programs that connect us with your renters. We help keep your properties up to date with maintenance and repair schedules as well as other aspects of your business, from finding new renters to taking care of tenant issues.