The changing role of the property manager
Published on 4th July 2019 by Laura West
With proptech becoming increasingly common in the rental sector, there is an abundance of new skills that property managers must learn. It is predicted that the daily routine of the property manager will change in the future, thanks to innovations in technology which are already affecting the role.
In the shorter term, property managers must pool data in consistent ways, while potentially learning new systems in an effort to ensure that all the details of new rental properties are efficiently captured. Once loaded, access to this data will be intuitive for both clients and professionals, and require no training. Checking different technology platforms to understand key data and performance levels allows property managers to make informed decisions to improve satisfaction and service levels.
There is a wide range of property management software for free, which is perfectly designed to help property managers conduct their job effectively and efficiently.
It is predicted that the majority of businesses will occupy spaces on short term leases, where a property manager’s role will switch from enforcing long term leases to facilitating occupation on a short term basis. Property businesses will therefore need to drive loyalty by providing great customer experiences, which will lead to maximum retention.
Advances in technology, such as artificial intelligence, present more opportunities than threats for property managers, and there will be more autonomy for the day-to-day tasks and processes of property managers. As a result, people-based skills such as customer service and hospitality will become more valuable.
By limiting the time spent on mundane tasks, there will be more time for interactions with customers and clients, where technology can be used to facilitate conversations and an increased engagement level. With technology such as digital assistants and smart locks, property managers will be able to conduct their core job, such as winning deals with tenants and gaining instructions, more efficiently, while technology will conduct low-value tasks such as taking notes and scheduling repairs on property. This allows property managers to concentrate on expanding their portfolio, resulting in higher profits and productivity.
For property managers, more focus will be centred on tenant relationships, with technology providing more efficient operations. Experience, attraction and content will become increasingly important areas for property managers.
It is predicted that technology will likely play a major role in the day to day job of the property manager, where they will become accustomed to interacting with AI-integrated technology. It seems that agents who engage more readily with technology will be the ones who are best protected against job losses.
Technology will allow for more remote and flexible working, largely using mobile apps, and property managers will be more likely to be working on site at least 50 per cent of the time. This will make mobile technology key in the role of property manager.
Technology will also redefine the office, which will gain influence as an enabling environment rather than a passive space for working, and morph into an place for teamwork, learning, new collaborations and partnerships, in addition to brand immersion and increased creativity. Property managers will manage spaces and resources to suit real-time, dynamic requirements, and users will control the tools and data in the space, including light levels and thermal conditions.
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