Supplying housing to more than 100 million settlers in the United States living in apartments, low-income housing, nursing homes, and other rental properties has never been frank as individuals outside the industry might presume. Quandaries relating to municipal codes, compliance with housing loans, managing comprehensive operational risk and preventative maintenance have always served as booby traps to investment returns. But property managers nowadays have a completely new facet of roles and responsibilities because of the pandemic brought about by COVID-19. And that is the preservation of the safety and health of not just the settlers but also the site employees.
This novel high-stakes role of complying and developing with COVID-19 safety protocols comprises the need to closely monitor and record cleaning measures, potential onsite outbreaks, and employee temperature checks.
Landlords also must maintain amenities and packages and showcase units in remote environments, all of those signifies an added burden to owners who are upfront unable to collect charges in rents in a lot of cases. The increasing trend in remote work incorporates more requirements as homeowners demand efficient internet connection and in some cases, a socially distanced co-working space with safety protocols but beyond their own homes. Multifamily real estate is not just another place to live since it must be a justified refuge from all over the globe. And in the same manner, supporting full-time employees like never before.
The Different Manners Real Estate Leaders can Utilize Proptech
A lot of proptech providers have extended their arms to bridge the gap to address the issue in the market. We have listed some of the alternatives for multifamily real estate stakeholders and leaders to mull over as they enhance their sites:
- Some applications constructed the social media of an apartment building and give freedom for lessees to sign on during the time they want to use the pool, gym, and other types of property amenities. Owners of apartment complexes who utilize an app such as this then possess a resource to make sure lessees maintain safety health protocols such as social distancing, streamline onsite activity and enhance crowd control.
- Some companies are eyeing to solve a main tenant and landlord complaint which is package delivery. It is a given that some packages are stolen or arrived but in poor condition, or never arrived at all. And now employees and residents are wanting to have contactless methods to deliver and receive these packages. Some of these companies utilized centralized lockers while others, like Amazon key, give freedom for employees to leave packages inside the corresponding apartments. Other companies paved another strategy where they accept the package of the tenant offsite. Then they will notice the tenant on the said application and will schedule a delivery at their most convenient time.
- A lot of tenants do not feel safe when going physically to the office, so digital communications incorporated with property managers can be a bit of a complex. Communication platforms can aid property managers in transmitting announcements, answer queries and build trust loyalty, and confidence with the residents.
- One of the solid fears during this pandemic is how to maintain the safety of the people while they share the air of their co-residents. Air filtration systems, Robots, and Artificial Intelligence are technologies that can aid in making sure a germ and virus-free environment. Property managers can also utilize existing technology to incorporate a vaccination tracking platform to serve as a centralized source of COVID-19 vaccination information as well as reach a huge portion of the population right where they reside. Other technology companies supplement this kind of technology infrastructure to aid in giving peace of mind to this huge chunk of the population.
An Obligation and Accountability to Support the Community
The pandemic has been lighting that struck technology entrepreneurs in seizing the moment and leverage their software to address novel problems in multifamily real estate. As an outcome, there are an array of solutions that can now be utilized to aid landlords to maintain their properties efficiently. A lot of existing technologies can also transition to better support crucial tasks during pandemics while still abiding through on the reasons they were created; to make everyone’s lives including the managers and owners easier and better.
What we are witnessing in multifamily housing is an exciting example of what may occur when the technology ecosystem comes together to address this problem. The truth of the matter is, technology is only a part of the solution. Following the safety protocols such as wearing face masks and shields, socially distancing, and sharing resources is truly a humanistic effort and not technical, so to speak.
Tech businesses have a role to quickly deploy the technology that presently exists to guide customers and the community at large during these trying times. But, when considering technologies like these, managers and owners must perform at the onset their due diligence to make sure that the companies with whom they are considering engaging with possessing a solid track record of timely and successful deployments, solid ongoing client support as well as the feature set that satisfies the crucial pain points.
Property managers at apartment complexes are overburdened by habit. That is why any solution that can relieve a pain point for them is very important. Getting a product that either supplement a bad end-user experience or fails to relieve that said pain is considered a waste of money, effort, and time.
Having said that, the quick pace of innovation during the previous year as companies look to accommodate a new platform of contactless operations and remote management has resulted in a sprout of novel solutions that can aid deliver an effective ROI and are worth the effort and time for an appropriate review on due diligence.
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