Property managers have been slowly adopting and adapting to new technologies, but since the onset of the pandemic hit, technology has become an essential tool in the property management toolbox. Technology has become an integral way to communicate with residents, vendors and conduct basic business operations. According to a recent survey conducted by AppFolio, 23% of property managers have increased dependence on technology since the beginning of the pandemic.

"Shifting to so many remote processes has led property management teams to lean heavily on technology to support their business continuity," Stacy Holden, industry principal and director at AppFolio, tells GlobeSt.com. "Residents still need to pay rent and submit maintenance requests, and prospective residents still need to be able to book showings, tour units and sign leases. Technology allows for the progression of many regular activities to be done remotely and on-demand, ensuring property managers can continue to meet the needs of current and prospective residents."

Digital rent collection is one of the biggest changes for property managers. Since the pandemic, most property managers have shifted to some form of online or digital rent collection. "The entire rent collection process for many property management companies shifted to enable contactless rent payments," says Holden. "Instead of having residents drop off their rent checks to property management offices, companies are emphasizing the option for their residents to pay using online renter payment portals, so that payment can be made electronically, with no interaction between property management teams and the residents."