Is Technology Really a Curse?

Technology is looked at as a curse by some property managers who say that technology is not addressing common “pain points.” The Common Areas Property Management and Technology Sentiment Report from software company Common Areas, shows that property managers consider technology both a “blessing and a curse.” The areas of concern—or pain points—named in the survey include cost of technology, integration, seamless transitions and scalability and customization.

“I believe it is when, not if, technology will appropriately address the pain points expressed in the survey and that time is coming very soon,” Casey Rue, CEO of Common Areas, tells GlobeSt.com. “In the past, technology has been primarily focused on providing solutions to stand alone business objectives, without looking at the bigger broader picture where there are multiple pain points that are often directly related. On top of this legacy technologies were designed to solve problems within businesses, but failed to provide solutions for collaborative work between businesses. This is a major sticking point for property management related companies as it is a highly collaborative business environment.”

Advances in technology should solve these pain points and in solving the common needs of property managers. According to the survey, 79.3% of property managers want technologies that are easy to use, while accessibility and dashboard and reporting capabilities were also listed among the top concerns of property managers in looking for technology solutions. “Increasingly, we are moving toward platform-based technology and solutions where multiple issues and pain points can be resolved,” adds Rue. “We are discovering the real advantage of collaborative, configurable and integrable solutions and are beginning to move away from siloed solutions needing to be cobbled together with band aids and duct tape.”

Despite the pain points and challenges, property managers have still adopted new technology—although it is difficult to say if these problems have also served as a deterrent to more rapid adoption. “There are many who have invested significant amounts of money and resources to programs or systems that missed the mark and failed to deliver as promised,” says Rue. “They will likely be reticent and cautious about investing in new technologies until either they are confident the new solution can deliver as promised or a significant client assignment mandates it.”

On the other hand, technology has also created opportunities for expansion and advancement. In the future, it will be essential to success. “Those who appreciate how fast technology is advancing and realize how much they have to gain in efficiency and productivity will continue to explore and adopt new technologies,” adds Rue.