June 3, 2020

The #1 Reason Why Property Management Companies are Turning Their Buildings into Smart Buildings

How does a smart condo building differentiate from a ‘regular’ condo building? The proof is in the details. High tech elevators, contact-less concierge and self-serving amenities to name a few. 

While the investment may look large on paper, the benefits to your residents and to your team outweigh it all. Property Managers are pushing for smart buildings because they allow residents to serve themselves. According to Salesforce, “69% of millennials say they “feel good” about themselves and the company when they can solve a problem solo.” 

Here are a few additional reasons why property managers are turning their buildings into smart buildings. 

  1. Saved employment costs – like many restaurants, stores and companies at large are doing, replacing a mundane job with technology. Whether it be patient intake at the doctors office, food ordering at a restaurant or self serving parking meters, there are employment costs to be saved when it comes to smart buildings. Replacing administrative work with touch screens and self-serving options is a great way to empower your building residents to serve themselves, while also speeding up the turnaround time of simple tasks (i.e. printing a guest parking ticket). 
  2. Happier residents – nobody likes an upset resident, especially when it’s regarding something in the building that could have been prevented or time saved. According to Desk.com, “25% of millennials expect to get a response within 10 minutes after reaching out to customer service.” Automate experiences with smart options in your building such as direct messaging to property managers – not just face-to-face communication. 
  3. Smart for both parties – do you ever wish you could know more about your residents so you could make educated decisions for your building? Smart buildings help do just that – not only are you serving the greater population, you’re also collecting data and learning from their habits. You will finally have answers to “when are the busiest elevator times, how many parcels do we intake on an average day and how long is the average pickup time, when are people leaving and coming to the building, what seasons do we receive the most service requests?” and more. The more your building residents use the smart systems supplied to them, the more you will learn about your residents – it’s that simple. 

For a building and its management team, going high tech has many benefits. 

Like many big changes, the growing pains can be a challenge – but the benefits outweigh the , and it can be difficult to convince residents and board members to agree to it. If the conversation about going more high tech in your community is causing some apprehension, check out this article that outline Three Reasons why you need to add Technology  to your 2020 Budget.


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