The number of proptech solutions is also increasing, which can also send property owners' heads spinning. "Property owners might have four or five technology point solutions for things like packages, access control and payments," Yip says. "But I think we are starting to see the rise of more one-stop or platform solutions. I think that's certainly going to be a trend."

Yip says some proptech firms are acknowledging and addressing tech concerns with overwhelmed property owners. "We are seeing some startups that are getting good traction saying, 'Hey, is there a good enough solution that solves four or five pain points as opposed to having four or five [technologies] that you need to handpick,'" he says. "That's just the natural part of evolution."

Eventual consolidation in the proptech space will also simplify choices for property owners. "I think there will be acquisitions and different combinations [of providers], and I think things will sort themselves out," Yip says. While the proptech space may still have some growing pains, Yip still sees tremendous potential. "It is a very exciting space that's still early in its innovation cycle, and I think there is a lot of runway to go," Yip says. "Part of why we're seeing such innovation and capital coming to the space is because of changing consumer behaviors. Renters are expecting a certain level of technology, whether it is in how they interact with their building or the community around them."