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  • Insight
  • Jan 14, 2022

How Technology Is Changing Property Management in the Middle East?

Various industries are integrating technology in running the majority of their operations. Most of these industries have experienced tremendous growth and high returns just by using technology. The real estate industry, specifically the property management segment, has followed suit and incorporated a lot of new trends in carrying out their activities. Property owners are reaping a lot from this integration.

Read on to find out how property management in the Middle East has benefited by adopting technological systems:

Maintenance And Management Of Property

There are many technologies available that are being utilised in property management in the United Arab Emirates (UAE) and other Gulf countries. They allow property managers to keep up with the maintenance needs of their property. Besides scheduling appointments, they remind them of upcoming maintenance activities as well.

Tenants can also request maintenance through the online platform, and all stakeholders involved can see these requests. Property managers can also include technicians on the platform to see their scheduled tasks and what specific units they’re supposed to visit. With such technology, you’ll never miss out on any maintenance tasks while letting you serve your tenants efficiently as a property manager or owner.

Technology has also allowed for efficient remote management of your rentals. Industrial IoT solutions are now being incorporated in real estate. The Internet of Things (IoT) technology, such as CCTVs and sensors, are some of those being used by property managers.

Moreover, you can also manage Heating, Ventilation, and Air Conditioning (HVAC) systems in your rentals. You can pre-set the tools with the average temperatures, and when a problem arises, you’ll be alerted, allowing you to go and see what could be the problem.

Additionally, you can engage security systems in your property, such as motion sensors, at specific times from the comfort of your office.

Tenant Screening

Gone are the days when you aren’t assured of the kind of tenant you’ll deal with in your apartment complex.

This has changed, thanks to modern technology. There are many tools that can allow you to screen potential occupants before you accept their application. You can also perform background checks, see their credit history regarding rent payment, how they engage with other tenants, among other details. This will give you a better picture of how you’ll manage each tenant in your rentals.

Online Payment Options

Having an online payment option is quite lucrative for both the property manager and the clients.

For the tenants, they’re able to quickly pay their rents from wherever they are instead of physically finding the landlord. An online payment platform is also available 24/7; thereby, making it more convenient to suit their schedules.

On the other hand, as the landlord, online payments allow you to track rent payments and deposits efficiently.

If you have a system in place where there’s a penalty for delayed payments, there are tools available that can automatically make the calculations, reducing your workload.

Contact Management

If you have several rental properties, it’s given that you have many renters. For efficient delivery of services, you need to have contact details for each of them. A manual contact listing can be quite challenging regarding their storage and the possibility of losing the same.

With the advancement in technology, some platforms allow you to record all your required contacts. This includes maintenance providers, landlords, property owners, and partners. You can group them based on their position for ease of reaching them when the need arises.

Remote Analysis Of Properties

You no longer need to visit all of your properties physically to inspect them.

Property management has been made easier by using many software programs that allow you to virtually inspect your rentals. With vital aspects of real estate, maintenance, and rent payment made digital, you can collect all this data from the various platforms and analyse each property. You’re able to draw patterns of each, look at tenant behaviour and financial reports, enabling you to make amends where warranted, no matter where you are.  

From the analysis, you can predict various aspects of your business and seek insights to incorporate in your future property projects.

Better Advertising

With the right technology, you can make a detailed presentation of all your properties on sale, including all the amenities available. The tools will do this in a very professional manner, allowing you to reach your desired target market.

By combining such a tool with your social media, you can get a broader customer base, increasing the chances of tenancy for your properties. For better servicing, you can make use of an application that provides potential tenants with the option to make online bookings of your apartments.

Customer Satisfaction

With the seamless provision of services through online payments, 24/7 support, and maintenance, you will be able to meet each of your customer’s needs, providing more satisfaction.

This will ultimately result in attracting more tenants, mainly from reviews given by your previous and current clients. More tenants mean more income and higher returns, allowing your property business to scale higher heights.

Document Storage

Before digital advancements, all documentation, such as payment cheques, invoices, property contracts, and maintenance files associated with property sale and renting was done and stored manually.

Accomplishing such documents by hand can be tasking and overwhelming for your team, not forgetting the need for large storage areas, especially if you own several properties in the Middle East. Documents handled manually are also vulnerable to loss and damage.

The storage systems have been enhanced and made more manageable with new technologies. There are cloud-based storage options that offer extensive data and document storage, despite the number of properties you manage. All documents can be accessed on a single platform, where you and your tenants can acquire them when there’s a need, especially if there are any legal claims, such as rental disputes, that require documentation as a reference.

Electronic storage solutions also reduce your team’s workload, allowing them to put more focus on managing your properties instead of filing unending paperwork.

Wrapping UP

These are just some ways in which property sales and management in the Middle East have been made efficient with the advancement of technology. If you haven’t integrated technology into your property management system, now is the best time to do it. Doing this will improve the efficient delivery of your services and increase your customer satisfaction.

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