Property managers are increasingly turning to centralization to improve efficiency and streamline operations. Consolidating the management of multiple properties into one centralized system allows property managers to standardize procedures, gain valuable data insights and increase purchasing power.
For residents, centralization can improve their rental experience as their needs and requests can be addressed more swiftly. Cost savings can be passed on, security is improved, and the adoption of smart building technology offers a more personalized experience.
Multifamily technology is helping property managers to unlock centralization. With tools like a smart home management system or Property Management Software (PMS) that can streamline operations of multiple properties, a community access management plan for enhanced security, and the opportunity to optimize energy consumption with smart property technology, centralization is a game changer for property managers.
Smart home management and property management software (PMS)
A smart home management solution is useful for property managers who want to centralize their multifamily operations. By displaying property information in one unified app, managers can oversee their properties from one user interface and manage the day-to-day operations more efficiently.
Tasks such as arming and disarming security systems, customizing and automating temperature settings, and monitoring sensor notifications, can all be streamlined and accessed remotely by the property manager in one platform.
For property managers with a larger portfolio, a property management software (PMS) solution can manage and automate more complex tasks including tenant screening and leasing, rent collection and accounting, maintenance requests, and resident communication. It can also facilitate property marketing, vacancy management and financial reporting.
The data that is generated and collected in a PMS provides property managers with valuable insight into various areas of property operations and performance, enabling them to make more informed decisions as they scale their business or look to improve resident retention.
For property managers who are centralizing their operations, an easy-to-use smart home management system or a PMS that can manage property operations from one integrated platform is a must-have tool.
Smart access control
Smart access control technology enables property managers to securely manage their properties even when onsite personnel are reduced following the centralization of operations. Property access systems such as intercoms, smart locks, video security and digital access control can all be used to keep multifamily properties secure, and when integrated with smart technology, property managers can streamline access management and monitor their buildings remotely in real time.
Property managers create a customized community entry plan, granting access to residents and revoking it when necessary. They can also remotely allow one-off entry to buildings as needed, ensuring their portfolio is protected, even in their absence.
Smart access management can also be centralized into the smart home management system or PMS so that managers can oversee and control permissions across multiple properties from a single dashboard, simplifying the process even further and allowing a quicker response time to any security incidents.
Residents living in multifamily buildings with smart locks, remote access management or property entry technology such as intercoms, benefit from increased security and also have the added convenience of granting access to their guests without needing to provide physical keys.
Smart home technology
Smart home technology such as intelligent thermostats, lighting, smart locks and water management, allow property managers and residents to remotely control the utilities in their home, saving them money, reducing energy consumption, and providing residents with an enhanced living environment, seamlessly fitting to each resident’s preferences.
Centralizing the management of smart property technology across multiple properties streamlines operations for property managers and significantly improves efficiency. Smart locks and security systems can be managed centrally, and smart thermostats and lighting can be controlled remotely to optimize the energy use across a property. This is particularly beneficial for vacant units, as property managers can save on utility expenses and reduce maintenance time.
Smart water solutions can detect leaks early, preventing costly repairs, and HVAC systems notify property managers of failures or improper functioning. Centralizing predictive maintenance allows property managers to view the status of all hardware on one unified system and schedule teams to address alerts in a time-efficient way.
Meanwhile, residents benefit from the enhanced lifestyle that smart home technology offers such as personalized climate control, voice-activated devices, and automated lighting. This centralized system makes it easy for residents to curate a custom living environment, leading to higher satisfaction and improved retention rates.
Want to find out more about multifamily technology? Read the top 5 things residents look for in a multifamily property.
