What’s in the Future for Property Management?

Business risk and research

Many aspects of property management will always stay the same, but as technology expands, and more and more people prefer online over offline, the future of property management is changing. Check out these ways property management is evolving.

Marketing Is Moving Online

Potential residents are no longer searching for homes or apartments in paper guides or newspapers. They are searching online, so even if an HOA has a great offline marketing campaign, most potential buyers are failing to see it. As a result, more and more community associations are moving their marketing online and directly targeting their audiences instead of using mass marketing techniques.

As interest in social media and other social sites grows, HOAs will also need to jump on board. Many previous residents may post their experiences with an HOA online, and potential buyers look to these sites for reviews. By getting online, an association can respond directly to any questions and concerns. This allows them to get involved and get their name out there.

Residents Want a Website

Newer generations don’t want to speak to an HOA on the phone, in person or send checks or requests in the mail. They want everything fast and easy, so crafting a comprehensive website is a must. An HOA website gives potential buyers a place to go to learn about the neighborhood, so they can avoid a phone call.

A good website can also attract newer generations if it has great features. For example, if the website allows online payments for dues and assessments, this is a huge benefit for potential buyers. Second, offering a forum where residents can post questions or comments at their leisure is another huge perk.

Work Remotely With Virtual Offices

Not only is an association website great for residents. It’s also great for the board and property manager. A good website can work as a virtual office, which means work can get done even if someone is out of town.

Board meetings can be held with video calls on the website, and if a property manager has a dire question, they can reach all the board members via the website. An HOA website can even allow board members to vote online for various policies, allowing them to read the proposal and vote on their own time.

The world is moving toward technology, and if HOAs want to continue to remain successful and attract great residents, they must also make that move. Luckily, these changes are also making property management easier and more effective.

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