Be honest… keeping up with all the new and developing property management technology is hard.
Everywhere you look now, there are brand new apps and website platforms that promise to do amazing things for your property management tasks.
However, it can be a pain keeping track of all these new tools.
Plus, how do you know which are really likely to be useful to you?
So below, we’re going to answer a few questions:
- What can the latest property management technology do? Think of these as tasks such as: lead nurturing and automated showing. You’ll learn what property management tech can do.
- And what are some of the best tools for optimizing those tasks? Want to take advantage of said tech? We’ll include an example tool that performs each task.
First, let’s go over a quick list of what those tasks and related software are.
What tools do property managers use?
As is the case with all new things, most people shy away from new tech at first, preferring to stay in their comfort zone.
Excel spreadsheets, Post-It Notes, and whiteboards? They work for me. I’m good.
Yeah, that didn’t last long.
It’s the property managers and investors who make the most of the latest tech who can do more and more efficiently– with less and in less time.
No matter how you look at it, taking advantage of the best property management software and apps available can only help grow your business.
Not to mention, give you time and peace of mind back in the process.
The tools we’re going to cover below can help you in a wide range of tasks, including:
- Lead generation
- Lead nurturing
- Maintenance management
- And more
Let’s jump in.
10 Property management technology examples (+ tools)
Below are ten of the above-mentioned tasks as well as some great tools to handle them (in no particular order):
1. Listing platforms
Chances are, this is the one tool on this list that you’re already using due to its value.
While the most well-known property management resource, listing platforms like Zillow and Redfin are invaluable for finding new potential tenants and keeping your units occupied.
With that said, they’re not the only options out there, and expanding your reach to additional platforms can further help fill your units faster and with higher quality tenants.
Like this tool:
Tool: Apartment list
A lesser-known but still valuable listing platform you can add your properties to is Apartment List.
Apartment List is an easy-to-use platform with a strong search presence.
And that’s the real key in making sure you get results from a listings platform (exposure is everything), so it checks all the right boxes.
2. Automated showings
Showings are one of a few responsibilities that require property managers to physically show up at the property.
Well, until software came along that gave property managers the ability to automate the entire process.
Don’t believe us? Then the next part is really going to blow your mind:
With the latest property management technology, you can even automate the collecting and returning of the unit’s key for leads visiting your showing via a convenient lockbox.
With Rently, you can automate your entire showing from beginning to end.
Their Rently Blue service allows viewers to use the Bluetooth straight from their smartphone to activate a lockbox securely.
Whether you prefer to use this type of service on a recurring basis or not, the convenience can’t be argued.
If nothing else, it’s a useful tool you can set up for whenever you can’t be at a property during a given showing.
3. Automated outreach
Outreach is a time-consuming process, and one of the first issues tech has allowed property managers to solve. Without outreach, there would be a lot more vacant units and less property management.
With automated outreach tools, you can do things like:
- Sending automatic emails and/or SMS messages the moment a lead fills out a form
- Follow up until they answer or complete the desired action (set an appointment, etc.)
- Keep track of leads, their touch points, and more
Tool: Contact Junkie
Contact Junkie is a tool that allows you to automate outreach in several ways, like those outlined above.
You can change when messages are delivered, what medium (email, SMS), and have contacts automatically slide into new sequences depending on their activity.
Plus, once a contact is made the sequence automatically stops without you having to worry about barraging a warm lead with irrelevant messages.
4. Automated lead qualifying
Similar to outreach, lead qualification can be time-consuming, but incredibly important.
You need to qualify leads to ensure you’re spending time on those leads that are likely to take the next step, and not spend time on those that are likely to waste it. This leads to higher turnover rates and will hopefully make property management easier.
Fortunately, new tools allow you to qualify leads through AI chatbots that can automatically email and text leads.
Plus, a big bonus is that you can program when those tasks are performed, and the chatbot will perform them instantly.
No need to keep track of follow-ups, schedule conversations, or worry about forgetting or taking too long to call a lead.
Structurely gives you access to AI chatbot features that can automatically send emails and SMS messages to leads.
You can set up each sequence to run automatically, all the way up to schedule an appointment from beginning to end without having to worry about a thing.
However, you can easily edit that sequence or jump into any specific lead’s place in a sequence and manually adjust things whenever necessary. So, you maintain full control.
Plus, with a great mobile app, you can access those communications easily from anywhere and at any time.
5. 3D Tours
With new video-based tech has come a whole host of new capabilities.
One such tool is 3D tours, which give users the ability to take a virtual walk through your units before visiting.
Not only is this convenient for them and helps create a positive view of you and your brand in their mind.
It helps those leads fall in love with the property before visiting, making them more likely to show up for the actual showing.
NodalView offers the latest in 3D tour tech (as that’s been around for a bit) by improving on accessibility and hardware.
Now, 3D tours are far easier to set up and shoot even with your smartphone. Plus, NodalView offers a lense attachment if your smartphone isn’t compatible.
Their premium plans also offer the ability to shoot on multiple devices simultaneously, allowing for simpler and more efficient 3D video shoots.
6. Automated lead nurturing
Nurturing leads can take time, and a lot of effort.
You never know when a particular lead is going to go from casually viewing to seriously shopping, so having a lead nurture sequence is vital to creating a regular flow of new leads.
With automated lead nurturing software, you can send automated emails and SMS messages much like with outreach tools like Contact Junkie.
Plus, with a tool like the one below, you can automatically pull listings from your MLS and send them to your clients based on hundreds of criteria designed to fit that lead based on the information you’ve gathered.
RealScout allows you to send automated nurture sequences to leads, even pulling directly from your MLS.
The tool can automatically craft messages using those listings and send them to leads based on more than 400 criteria, removing all the work from your end.
They can then view those properties, favorite them, and interact with the listing. Plus, all that information gets delivered to you so that you can see who interacted with what listing and decide whether to manually follow up from there.
The result is a simple and effective nurturing campaign that regularly brings in new leads.
Home inspections might not be the first thing you think about when it comes to property management tech, but there are even tools to help streamline that process as well.
Most home inspection tools are typically a SaaS model (software as a service) that gives you the ability to create organized reports from an app or desktop software right there on-location.
It’s essentially just a simplifying of the process of inspect->report down to one single task, saving you time, though a valuable time-saver nonetheless.
Tool: Tap Inspect
Tap Inspect is a simple software that allows you to record information from your iPhone or iPad and create easy-to-read reports from that information.
Instead of having to take down notes and then head home and create an inspection report using that information, you can immediately translate that information into a home inspection report.
While a simple service, the result is time and hassle saved.
8. Automated manual logistics
Earlier, we touched on Rently’s Rently blue feature, which allows you to set up an automated lockbox using Bluetooth.
Similarly, several new tools have begun popping up that allow you to navigate and automate manual logistics like delivering keys.
As it’s easier for you to see what we mean in this case, here’s one example…
With KeyMe, you can be in two places at once.
It’s not as impossible as it sounds, though. If you’re selling a client’s home with KeyMe, you can have your client send you a smartphone pic of their key which you then upload to the KeyMe app.
Then, simply head to a KeyMe kiosk to verify your identity and pick up your key. Voilá, a perfect copy.
9. Tenant management
Our final two tools have to do with more of the overarching property management side of things: communicating with tenants, maintenance management, accounting, and more.
For this first one, we focus in on tenant management.
Some tools are full-blown all-in-one property management solutions like the last tool on our list (hint hint), while some are simpler in scope and focused on a single area.
Let’s look at a specific tenant management software tool to get a better idea of what that looks like…
Rentpal is a simple and straightforward property management software, but it offers a few highly useful tools.
- eLeasing tools, including the ability to sign applications from within the app
- Tenant portal that allows tenants to view rent and other information
- Tenants can conveniently make rent payments via the app
Overall, only a few simple functions compared to more expansive property management software, but if you’re just starting out and you have a single property, this is the kind of tool that can really help streamline everything.
10. All-in-one property management
Our second of two property management software options, this last category is all about property management software that goes all the way.
Typically, property management software includes most or all of the below features:
- Property accounting
- Maintenance management
- eLeasing tools
- Marketing features
- Tenant portal
- Owner portal
As you can tell, it handles a lot. All-in-one isn’t a marketing slogan, it’s literal.
Think of it as your master hub. Everything you need to do regarding the management of your properties can be found here.
Let’s look at our very own DoorLoop for an example:
DoorLoop is an all-in-one property management tool, just like what we talked about above.
However, with DoorLoop you get more than just a complete suite of property management tools.
You also get:
- Some of the best customer service in the industry: Responsive, real (human beings), and caring.
- Lightning-fast: Load times that would make the Flash jealous.
- Easy to navigate: Lots of features, but super simple navigation that makes it easy to get to anything with a few clicks
- QuickBooks Online integration: With DoorLoop, you can handle all your property accounting in one place. However, many property managers currently use QuickBooks, and prefer not to switch. Is that you? No problem, say hello to our QuickBooks Online integration that takes literally minutes to set up.
Give DoorLoop a try here and schedule a free demo to see what it can do for you.
Technology makes property management easier
Whether you’re trying to:
- Generate new leads
- Automate physical tasks at a distance so you have to travel less to distant properties
- Or need an all-in-one solution for managing your properties
There’s a tool for it.
We hope this list helps you not only learn what is possible with property management technology, but find a few useful tools that you can take with you and implement in your business to become overall more productive and efficient.
Want to learn how to choose the best property management software to automate your business? Check out this free whitepaper!