Property Management – An Industry of Fragmented Technology Solutions
Abstract
Successful property management, which can be done by individual owners or by professional property managers, has numerous interrelated complex business processes: tenant attraction, screening, leasing, tenant move-in, property maintenance, retention/lease renewals, tenant move-out, and reputation management. Property managers must be highly skilled communicators and thoroughly understand the legal implications of housing and contract law in their operating environments. The lack of affordable solutions available to small and mid-sized property managers drives their use of fragmented technology solutions provided by numerous technology vendors that employ redundant data-gathering methods, putting them at a competitive disadvantage. This research paper explores the information systems needs of property managers in contrast to the solutions available to them in the marketplace.
Keywords: |
Automated business process; fragmented technology solutions; property management; property marketing; property leasing
|
Full Text: |
References
United States Census Bureau, “Quick facts United States.” [Online]. Available: https://www.census.gov/quickfacts/fact/table/US/HSD410219. [Accessed 28 Aug. 2021].
Australian Institute of Health and Welfare, “Home ownership and housing tenure,” 2 Aug. 2022. [Online]. Available: https://www.aihw.gov.au/reports/australias-welfare/home-ownership-and-housing-tenure. [Accessed 26 Oct. 2022].
S. Liu , “50 real estate statistics every agent should know,” 26 Aug. 2020. [Online]. Available: https://www.propertyme.com.au/blog/property-management/real-estate-statistics-for-agents. [Accessed 26 Oct. 2022].
T. Melvin, “Property investors: The difference between USA and Australia,” 14 Aug. 2017. [Online]. Available: https://medium.com/live-learn-share/property-investors-the-difference-between-usa-and-australia-cea3ce8adb4e. [Accessed 26 Oct. 2022].
AvidXchange, “Top 3 reasons automation is critical for property management,” 5 Sep. 2018. [Online]. Available: https://www.avidxchange.com/blog/automation-for-property-management/. [Accessed 26 Oct. 2022].
RentecDirect, “Rental listing syndication updates give more control over syndicated listings,” 28 July 2020. [Online]. Available: https://www.rentecdirect.com/blog/rental-syndication-updates/. [Accessed 26 Oct. 2022].
Einnews, “How real estate syndication works,” 19 Dec. 2020. [Online]. Available: https://www.einnews.com/pr_news/533140553/how-real-estate-syndication-works. [Accessed 26 Oct. 2022].
G. Collins, “Australia housing market 2021,” 18 July 2021. [Online]. Available: https://managecasa.com/articles/australia-housing-market/. [Accessed 26 Oct. 2022].
NHLP, “Federal court holds tenant-screening services must comply with the Fair Housing Act,” Mar. 2019. [Online]. Available: https://www.nhlp.org/our-initiatives/federal-court-holds-tenant-screening-services-must-comply-with-the-fair-housing-act/. [Accessed 26 Oct. 2022].
D. Midura, “8 important benefits of real estate CRM,” Techadv.com, 28 Aug. 2020. [Online]. Available: https://www.techadv.com/blog/8-important-benefits-real-estate-crm. [Accessed 26 Oct. 2022].
Americanlandlord, “The importance of a rental application,” 17 Jan. 2016. [Online]. Available: http://americanlandlord.com/the-importance-of-a-rental-application/. [Accessed 26 Oct. 2022].
A. Collatz, “Questions to ask during a landlord reference check,” 6 July 2018. [Online]. Available: https://www.mysmartmove.com/smartmove/blog/landlord-reference-questions.page. [Accessed 26 Oct. 2022].
K. Miller, “The lease signing process for Landlords and Tenants,” 20 July 2020. [Online]. Available: https://www.rentecdirect.com/blog/lease-signing-process/. [Accessed 26 Oct. 2022].
E. Ojeda, “How to automate your rental property,” 8 February 2020. [Online]. Available: https://medium.com/@ErnestoJOjeda/how-to-automate-your-rental-property-33d1e75a977b. [Accessed 1 Aug. 2021].
G. Leung, “Move-ins done professionally,” 29 July 2019. [Online]. Available: https://managecasa.com/articles/move-ins-done-professionally/. [Accessed 26 Oct. 2022].
B. Benz, “Your ultimate guide to property maintenance services,” 7 Aug. 2020. [Online]. Available: https://www.appfolio.com/blog/property-maintenance-services-ultimate-guide/. [Accessed 17 Aug. 2021].
D. Heath, “Reputation management: Responding to the 1 star property manager review,” 15 May 2018. [Online]. Available: https://www.propertymanagementinc.com/blog/reputation-management-responding-to-the-1-star-property-manager-review. [Accessed 26 Oct. 2022].
L. Liberatore, “Best practices for efficiency in property maintenance and emergency management,” 12 Feb. 2018. [Online]. Available: https://www.forbes.com/sites/forbesrealestatecouncil/2018/02/12/best-practices-for-efficiency-in-property-maintenance-and-emergency-management/?sh=10231e606c7a. [Accessed 26 Oct. 2022].
A. Ivanov, “5 proven strategies to increase tenant retention,” 12 June 2020. [Online]. Available: https://www.stacksource.com/blog/5-proven-strategies-to-increase-tenant-retention. [Accessed 26 Oct. 2022].
D. Henry, “The ultimate guide to tenant retention,” 30 Nov. 2020. [Online]. Available: https://www.nomadicrealestate.com/guide-to-tenant-retention/. [Accessed 26 Oct. 2022].
M. Backman, “How to turn over a rental property between tenants,” 29 Oct. 2020. [Online]. Available: https://www.millionacres.com/real-estate-investing/articles/how-to-turn-over-a-rental-property-between-tenants/. [Accessed 1 Aug. 2021].
K. Teng, “Reputation lowers costs for property managers,” 19 Nov. 2020. [Online]. Available: https://blog.reputationx.com/reputation-for-property-managers. [Accessed 17 Aug. 2021].
D. Roberson, “Property managers owe fiduciary duties to their clients at a minimum,” 5 July 2014. [Online]. Available: https://siliconvalleypropertymanagementgroup.com/property-managers-owe-fiduciary-duties-clients-minimum/. [Accessed 26 Oct. 2022].
D. Sweyer, “Managing the online reputation of your rental property,” 21 Mar. 2016. [Online]. Available: http://www.wilmingtonbiz.com/insights/dave__sweyer/managing_the_online_reputation_of_your_rental_property/1127. [Accessed 26 Oct. 2022].
DOI: 10.7250/itms-2022-0002
Refbacks
- There are currently no refbacks.
Copyright (c) 2022 Richard Bassett, Mark Pisano
This work is licensed under a Creative Commons Attribution 4.0 International License.