Empowering Property Managers: The Smart Tech and Software Revolution
Property Management
Property management looks very different than a few decades ago, and smart technology is a major reason for that. The usage of advancements like smart devices, cloud-based property management solutions, and AI in property management has increased significantly in recent years, leading to smoother workflows for businesses and better environments for residents. For related operational guidance, review property management tools and dashboards.
To put this in perspective, the worldwide smart home industry brought in roughly $154.4 billion in revenue in 2024—and it isn’t expected to stagnate there. The industry should hit a market volume of $250.6 billion in 2029. What this means for property managers is that smart technology is here to stay, and there are many ways to start implementing these exciting upgrades to stay ahead of the curve.
The Benefits of Smart Tech for Property Managers
Adding smart tech to your properties and business may seem like a significant investment that translates to a small perk. However, many Internet of Things (IoT) devices, cloud-based property management solutions, and other technological advancements can deliver sizeable returns across your business—especially when they support optimized workflows for your team and minimize frustration for residents.
With the help of these innovations, you’ll be able to:
Increase the Appeal of your Properties
Many people are interested in smart homes, so adding smart technology to your properties is a relatively easy way to stand apart from the competition. As if that wasn’t enough, installing smart devices could help justify a rent increase.