4 Surprisingly Simple Ways Property Managers Are Gaining More Control of Cash Flow in 2020

With the COVID-19 crisis, property managers were forced to pivot quickly to protect their residents and staff and ensure business continuity amid lots of uncertainty.

​So, what’s a ”new normal” nowadays and what are the trends you’ll need to follow?

1. Technology

Probably one of the biggest market trends we’re seeing is automation in the property management industry. This is the ability to streamline payment processes electronically. If you’re still processing each invoice and rent payment manually, you’re wasting a lot of valuable time. Confirming rent payments and juggling the paperwork for your own expense payments (insurance, maintenance, taxes, etc.) is very time-consuming. Automation is going to be a necessity in the property management industry of 2020.

Automation is one of the biggest market trends we’re seeing in the property management industry.

2. Property Management Marketing

Probably one of the biggest market trends we’re seeing is automation in the property management industry. This is the ability to streamline payment processes electronically. If you’re still processing each invoice and rent payment manually, you’re wasting a lot of valuable time. Confirming rent payments and juggling the paperwork for your own expense payments (insurance, maintenance, taxes, etc.) is very time-consuming. Automation is going to be a necessity in the property management industry of 2020.

Gen Z has grown up with technology. It has become an expectation and a norm.

3. Gen Z Is Tech Savvy

Gen Z is expected to grow from 8 million to over 55 million in the next decade. Gen Z has lived their entire lives knowing and using technology and the internet.

The most common tech solutions:

  • Online payments
  • Free Wi-Fi
  • Charging and docking stations
  • Keyless door entry
  • Fitness center memberships
  • Outdoor heaters and fireplaces

4. Amenity Reservations

Even millennials are becoming tech-savvy and sometimes won’t settle for the old-fashioned way of doing things, so if you are a landlord, start upgrading your amenities!

Check out Reliant Amenity—a great new tool that enables residents to make fast, easy amenity reservations and management and enforcement to easily confirm reservations. Our App provides accurate data to help confirm compliance and increase accountability—and it’s all seamlessly integrated with the Reliant Parking Apps for residents, management and enforcement. Get started now!

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