Smart home technology transforms property management by eliminating on-site management of many leasing tasks, and makes remote property management possible.
By accomplishing key leasing activities remotely, managers streamline their workflow, reduce operational costs, and better protect their assets.
Thanks to smart apartment technology, managers are maximizing efficiencies without jeopardizing operational responsibilities. Time saved on one task is time gained to accomplish others.
In addition, the benefits of smart property management extend to everyone involved in the leasing lifecycle. It results in better time management for staff, more flexible touring opportunities for prospects, cost-savings for tenants, and reliable asset protection for property owners.
Time Savings
Property managers can potentially save hours each day simply by adding keyless locks to their units. Smart access eliminates the need for leasing staff to be on-site to give tours, move tenants in and out, or coordinate vendor maintenance projects.
Smart property access allows for the remote management of property tours. Keyless locks enable self-tours by opening doors with codes that are securely sent to prospects’ mobile phones. Smart locks make a positive impression on prospects who are interested in smart home amenities, or who prefer social distancing.
Managers need not worry about losing leads due to the remote management of touring. Renter surveys show that prospects prefer touring properties on their own. Also, many prospective renters need to tour properties outside of regular business hours. So they appreciate the extended viewing hours that self-touring provides. Even without a manager present on-site, smart access can still create opportunities for direct engagement during a property tour. Managers can call or text prospects once they receive notification that prospects have scheduled or arrived for a self-guided tour.
Smart access technology also enables the remote management of unit turnover. Traditionally, a manager must be present during a tenant change to provide or collect unit keys. However, smart locks convert move ins/outs into a “contactless” online exchange. For example, managers “move in” new residents by sending an email with a link to their new resident (smart home) app.
Finally, the remote management of vendors is easier with smart access locks. Managers can use Rently to assign work orders to a specific worker, schedule the appointment and notify the resident. At the scheduled time, vendors use the durational code provided to access units. All without the need for on-site supervision, thus saving time and removing interruptions to other leasing priorities.
Property Savings
In addition to saving time, smart property management also saves money. With smart home technology, managers have more direct control over unit operating expenses, such as energy usage.
Smart thermostats and smart lights allow managers to lower utility bills by ensuring that no devices are left on in vacant units and turned off once visitors have completed a tour.
Remote management of smart home devices has varied cost savings. However, on average, managers report a 20-40% reduction in utility bills. Energy cost savings also translate into marketing value. A 2017 Buildium Rental Survey revealed that 30% of renters consider energy efficiency when choosing a rental property.
Property Protection
The benefits of smart apartment management also extend to the property manager’s primary responsibility: asset protection.
Traditional property management only allows for occasional on-site property checks. Meanwhile, smart property management allows for 24/7 monitoring for any potential threats.
Installing smart smoke detectors and/or leak sensors provides managers with peace-of-mind knowing that they will get notified immediately in the event of a property emergency.
Similarly, managers can enhance the physical security of their properties by installing smart motion sensors. These sensors trigger immediate email notifications and sirens if there is a physical breach to the property.
The continuous property monitoring offered by smart home devices adds a level of real-time control. It prevents small issues from becoming big problems, even when your staff is off-site. As an added benefit, this type of proactive asset protection can be persuasive when negotiating lower property insurance premiums.
Remote Property Oversight
Deploying smart home devices throughout a community or entire portfolio optimizes remote property management. Those devices should also be managed with a single software platform, such as the Rently Manager portal.
The Rently Manager Portal provides managers with valuable insights into their overall leasing operations. It offers them a level of control that allows their staff to confidently manage properties from off-site.
From the portal, managers can customize property listings, control property access, and remotely control each unit’s smart devices. Managers can see where their smart technology is deployed and who is accessing their properties. Managers can see self-touring appointment scheduling, arrivals, and completions. They can also see metrics regarding the number of self-tours that resulted in lease signings. Rently also stores renter surveys and integrates with leading CRM softwares to create streamlined lead management and timely prospect engagement.
Rently integrates seamlessly with property management softwares and managers can download our mobile app or access the portal via desktop.
Smart Property Management
Using smart apartment technology for remote property management is becoming standard practice, and the benefits are quite significant.
By deploying smart home devices throughout their communities, managers are finding new ways to do their job more efficiently. Upgrading their properties also helps them attract and retain residents.
By combining smart home technology with Rently’s proven self-touring software, managers completely transform their own management experience for the better.
