How has digital fast-tracked the future of Property Management?


Businesses throughout Ireland were compelled to immediately modify their digital strategy in March 2020 to cope with the impacts of COVID-19 head-on. New policies were put in place, as well as enhanced safety procedures for residents and workers. Remote working was also established. Fast forward to March 2021, and the entire globe is still dealing with the effects of this epidemic. Businesses are continuing to change their operations in order to survive in these exceptional times. However, new data (an AppFolio study of 1,000 property management professionals) show that 66% of respondents had a positive outlook on the future.


COVID-19 has significantly improved the future of property management. During the pandemic, property management, like so many other industries, had to find a way to adapt and move forward. In more ways than one, property managers and tenants are on the front lines of the crisis. Health and safety concerns are commonplace, and the economic downturn has made it more difficult to pay and collect rent. As long as there are uncertainties about eviction freezes, the months ahead will be filled with uncertainty and obstacles. However, the epidemic has surely accelerated the future of property management and improved the renting experience. There are now virtual apartment showings, online rental applications, and e-payments. During the crisis, the key trend that has propelled property management has been digital.


At the start of 2021, 80% of property managers polled by Forbes indicated a reliance on e-payments and digital communication. Tools that maximize online communication while minimizing unnecessary face-to-face interaction are more important than ever. As Ireland went into lockdown, citizens and property owners alike expressed a strong desire for "zero-touch" digital services such as online payments and virtual screenings and showings. These technologies are not only useful for social distancing, but they also assist property managers achieve efficiency at a time when new duties and obstacles are rising. Property management has a bright future since technology has enabled this industry to create and modify methods in order to flourish throughout the pandemic and continue to expand post-covid.