One of the ways of doing this is by adopting smart technologies in property management. Smart technologies have made it easier to manage residential and commercial property. As a result, this has enhanced efficiency and minimized loses. The days are gone when property owners couldn’t balance their accounts because of too much paperwork. As a real estate business owner, you should consider using some of the beneficial technologies available at your disposal. Below are outlined a few of these useful technologies. They include:
1. Online Real Estate Marketplaces
Real estate marketplaces have shifted online as more people prefer the internet to in-person shopping. Increased internet penetration in Kenya means that joining an online marketplace as a real estate owner will work to your advantage. Online marketplaces are platforms on which you can advertise your properties and interact with potential tenants and buyers. Real estate companies like Lesama Limited provide additional information such as property location, type and price. Thus, the buyer/renter has all the information needed upfront to make an informed choice.
2. Machine learning and ROI calculation
Machine learning refers to the process in which computer systems progressively learn to perform certain tasks for improved efficiency. They do this through recognition of repeated patterns and behavior. The application of artificial intelligence facilitates the control of expenses and risks for real estate business in Kenya, thus guaranteeing a higher return on investments (ROI). This is accomplished through algorithms that can predict certain factors of interest.
3. Channels for connecting with clients and tenants
With the widespread use of the internet, property management companies in Kenya can now easily connect with their clients. There is no more need for real estate agents to go knocking on the doors to collect rent or deal with other issues. Companies with an online presence have created dedicated customer interaction platforms for handling clients’ queries. A customized computer system can also prove useful in seamlessly and automatically updating clients on the goings-on in the company. Smartphone apps fall into this category. Most real estate companies are adopting the use of mobile apps due to their convenience and popularity among young people.
4. CRM software
Customer relationship management (CRM) is a tedious process for those who choose to do it manually. The CRM software, on the other hand, is a smart technology intended to make this process seamless. Setting up a property management system is crucial, especially for a property management agency in charge of several properties. The CRM software is developed and set up by an IT expert. It facilitates centralized management of customer information, making it easier to integrate, back up, and retrieve data.
5. Mobile apps
Mobile applications are trending in every business sector in Kenya today. Since almost every adult in Kenya owns a smartphone, having an app through which clients can access services can significantly benefit your business. Several real estate agents in Nairobi have developed apps to facilitate payment of rent as well as registering and handling customers’ complaints.
6. Internet of things
The Internet of Things refers to the interconnectivity between devices over the internet, which allows them to communicate. It is increasingly becoming an essential feature in smart homes. To keep with the times, real-estate agents in Kenya are also adopting this technology. Internet-ready homes are more appealing to buyers and tenants than just offering empty houses. Controls like electricity consumption, temperature, and humidity control are automated and adjusted remotely using a handheld device. Security features such as CCTV surveillance and remote-controlled alarm systems are also widely used to enhance security in residential and commercial buildings
Technology has made business operations much more efficient. Incorporating such smart technologies as outlined above, can greatly enhance your operations and increase returns.