Casey Rue

Property managers have a love-hate relationship with technology. On the one hand, technology has the ability to increase efficiency and workloads, while on the other integration, functionality and training have been pain points from property managers. In fact, a recent survey from Common Areas showed that many property managers view technology as more of a curse than a benefit. Still, technology does provide a lot of benefits, particularly in decreasing operating expenses and thereby increasing profitability—a big win for any property manager.

“Technology, tools and platforms that improve efficiency and allow property management firms to do more with less not only improves their margins, but also helps them provide a higher level of service to their clients,” Casey Rue, CEO of Common Areas, tells GlobeSt.com. Almost equally as important, particularly when working with property owners that own portfolios of properties across the country, technology provides a level of standardization and clarity in processes and reporting. That creates tremendous efficiency, consistency and peace of mind for property owners.”

As a result, property managers are most apt to adopt technology programs focusing on finances and operations reporting. While there are options, property managers are looking for technology tools that are adaptable and easily integrated into the business. “Today you see increasing focus on providing solutions that are integrable, configurable and collaborative that previously were disparate functions,” says Rue. “These collaborative network/platform solutions will allow significantly greater levels of sharing of data and information and enhanced means for all internal and external team members to communicate with each other in real time, on any type of device.”