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Property Management | 4 min read

9 Areas for Innovation in Property Management

Kristina Estoesta

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Kristina Estoesta

Here at Rockend, we are always looking at ways to improve your working life with our products. And what better way to discover them than through the eyes of the people who use them - our customers.  

During the recent PMC on the Gold Coast, we held the “Rock Your Innovation” contest where property management professionals submitted their big ideas that would delight their customers, simplify their lives or free up more time.

And boy did we get quite a response. From the practical to the out of the box, here’s a quick look at the innovative ideas that will improve property management:

1. Inspections

Routine inspections are one of a property managers top tasks that requires efficiency and attention to details. No wonder it is a major area that property managers felt they could use a little help in.

The power of Drones and robotics are something most PMs would like to utilise in doing inspections. While modern inspection apps now have better transparency, thanks to use of photos to record inspections, using video which both tenants and owners can view in real-time garnered support from many PMs.

2. Payments and invoicing

When it comes to payments and invoicing, property managers look for features that provides convenience and automation.

Scanning bulk invoices in a flash, automatic invoicing - similar to Property Tree's Invoice Genius - and providing tenants with other payment options that will guarantee rent collection and reduce arrears are just a few of the ideas in this area.

3. Keys

Property managers agree that managing keys is currently a painful process. And it’s not just losing and replacing the keys to a property that sparked innovative ideas, but generally, providing an easy yet secure access to other parties as needed (i.e. multiple tradespeople requiring keys to enter the rental property for routine maintenance).

Pin-coded entries, locks that can be remotely controlled through an app and even 3D printed keys are among the solutions that property managers have thought of to minimise lost keys, expensive locksmith bills and security risks.

4. Maintenance

With all the work orders that are logged when it comes to a property’s maintenance, automation is the solution that is most suggested by property managers.

An automated system where tenants and landlords can arrange maintenance requests and where PMs can better manage invoices and quotes will make maintenance a seamless and efficient process for all parties involved. Taking it a step further, incorporating the use of home assistants such as Google Home or Amazon Alexa were among the suggested ideas to provide additional convenience when processing maintenance requests.

5. Communication

Clear, timely and well-documented communication between customers and PMs is an important factor in successful property management. Not surprisingly, property management professionals sees this area rife with potential when it comes to innovations that makes communication convenient for everyone involved.

Customisable client portals, automated and personalised responses, automated notifications and round the clock support are just among the ideas that will make communications easier according to PMs. So are making use of AI and home assistants to answer general enquiries and send notices to customers.

6. Advertising

Leasing and advertising is also another area that can be improved with a few innovations.  While virtual property viewings are nothing new, adding in measurements of the property and its floor plan were some of the clever suggestions. Moreover, the ability to drop in virtual furniture and appliances to these virtual tours can level up the lease advertising game.

7. Data discovery

Getting to the right data is of utmost importance for property managers – and getting it in quickest way possible is gold.

Property managers suggest that the ability to search and sort any type of data in their property management software can save time and make for better data discovery while a well-designed interface can create a better user experience for those involved in handling data.

8. Integrations

In this day and age, app integrations are quite becoming the norm among service providers and it’s not hard to see why: The ability to access everything in one dashboard creates a seamless process for users and provides them with a richer experience.  

In a job like property management which involves juggling a myriad of tasks, a tightly integrated system provides convenience and time-saving benefits. The ability to choose which tools and apps to use also allows PMs to work with the ones that most serve their needs.  

9. Training

In Rockend's 2018 Voice of Property Management in Australia Report, it was found that training is a priority for majority of property managers and principals.  The irony is that because of property management's high-pressure nature, PMs often find little time to attend classroom training.

Online classes and webinars are a good alternative to attending physical classroom training.  Aside from the obvious time-saving benefits, it also cuts costs and allows for recordings to be viewed at a later time.  A post-training outcome tracking is also a good addition to review the effectiveness of the training programs in real-world applications.

If you look closely, most of these ideas are not too far-fetched and the technology is available.  Innovative property management solutions, like Property Tree even make most of them possible.  Property Management might be a high-pressure job, but with the right solutions partner, an easier and smarter way to work is possible.

Do you have your own bright idea that will improve your experience using our products?  Let us know through User Voice. If you want to know more about Rockend's innovative property management solutions, click here for a free demo.

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Check out some of our other articles

The Rockend Blog is a great way to stay up-to-date with all the latest Property and Strata news and insights.

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