5 emerging technologies to keep you ahead of the game

Content originally featured on Elite Agent.

If you want to be the agency of choice and stand out from your competitors, it’s up to you to be an early adopter. Here are five new technologies you should explore that are trending now.

1. Holographic meetings

If you think holograms are an unlikely technology for property managers to use in their day-to-day operations, think again! Holographic video conferencing via the TeleHuman allows people to be projected as 3D images from pods located anywhere in the world. You can then interact with these holographic people as if they were there in the same room.

Whilst this might sound far too futuristic, it won’t be long before traditional video conferencing is replaced by holographic meetings, with large corporates already using the technology. From an industry perspective, imagine the benefits of being able to interact with interstate or overseas clients as if they were right there in your agency’s for-lease properties.

With the potential to further break down communication barriers, property management businesses that adopt this technology will be light years ahead of their competitors.

2. Body cameras

The advancement in Body Worn Videos (BWVs) is a game-changer for the property management industry. Whilst BWVs were originally designed for law enforcement agencies, the technology’s recent developments make them a useful tool for our industry. Small, lightweight, wearable, and able to record and archive video and audio, the possibilities for body cameras to be used in our industry are endless.

BWVs are the perfect tool for assisting with mitigation, litigation and safety matters in your property management business. Property managers can use these cameras to record video and audio-based evidence for disputes, tribunal matters, property inspections, and even help protect themselves when working out of office. It is the new safeguard you should adopt if you want to raise the bar in your business.

3. Smart locks

Soon to be the norm in our industry, smart locks are electromechanical locks designed to lock and unlock property access points when they receive instructions from authorised devices. Safer than their traditional counterparts, smart locks provide peace of mind by recording who has accessed properties and at what times.

This new technology allows property managers to grant and deny access to properties by way of their smartphones. For example, contractors can now receive a ‘virtual key’ – a code with a date and time when they can access a property. This effectively removes the need to pass on traditional keys to third parties, saving your business time and money. If you want to be an industry leader, you should be the first to adopt this innovative technology.

4. Drug detection

Methamphetamine production in rental properties is a growing issue for our industry. The toxicity from clandestine methamphetamine laboratories (CMLs) can cause serious health issues if tenants unknowingly reside in, or property managers unknowingly inspect, these contaminated properties, even if the CMLs have long been taken down.

With tenants becoming more aware of drug labs, they inevitably want evidence confirming their rentals have not previously been used as CMLs. Likewise, property managers have the right to know when they are entering toxic properties. As a result, affordable drug detection technology is now available to measure properties’ toxicity levels.

These meth tests should become part of your day-to-day property management operations. Not only will this raise your standards and help you be the agency of choice for tenants and employees, it may also deter would-be drug manufacturers.

5. Digital solar

Digital Solar is a scheme which divides the savings between the landlord and the tenant from solar energy produced through solar panels on the roof. Digital solar boxes, or smartbox meters, can monitor solar energy production and measure energy consumption.

The benefits of installing these meters are three-fold: investors receive an additional income stream, tenants receive cheaper, greener energy, and property management businesses earn extra management fees for facilitating the process.

This new technology effectively allows property managers to add value to their investors’ and agency’s bottom lines. As a result, implementing digital solar into your property management business’ operations is another way to remain relevant with your clients and keep ahead of the game.

For more information, contact us.