The property management industry is experiencing rapid and constant change. With new technologies, customer expectations and the global pandemic creating continuous shifts in the real estate landscape, agencies must adapt in order to compete. But, if you want to remain competitive, investing in technology is only the start.

Keeping up with the rate of change means putting measures in place to ensure your business remains relevant despite market, industry or global forces. That’s why future-proofing your property management business is key. Here are the top strategies to future-proof your property management business, so it stays agile and profitable in the digital era.

1. Invest in online learning

Ongoing learning is one of the best ways to ensure that you and your team stay up to date with industry knowledge, skills and trends. Investing in online property management training, such as ireviloution Intelligence International Property Management Academy, helps you upskill and upscale. That’s why it should be considered an investment, not a cost.

Online learning can help you win and retain clients, boost your team’s productivity, and ensure new recruits excel in their roles. Since property owners and tenants expect services to be instant and better than ever before, online learning can teach you how to improve your processes and customer experience, so they meet your customers’ needs. By investing in online property management training, you can prepare your business, team and stakeholders for the future of property management.

2. Offshore your property management

In today’s fast-paced industry, it can sometimes feel like a balancing act between delivering a high-quality service and keeping your costs low. Offshoring your administrative or non-dollar-productive tasks is a good way to win at both. Engaging a dedicated property management virtual assistant (VA) provider, such as Purple Powered VA, can streamline your processes, support your in-house team and reduce your overhead costs.

Hiring VAs lets you delegate administrative tasks included in new managements, tenancy applications, property inspections, tenancy renewals, property maintenance, and more. By assigning these duties to virtual assistants, you can free up your property managers’ time so they can focus on dollar-productive activities. In this way, offshoring non-dollar productive tasks can optimize your property management operations, so you can deliver a level of service that separates you from competitors.

3. Use workflow automation software

The global pandemic has increased property management businesses’ need to shift their teams, operations and services online. One of the top ways to solve this issue is to invest in workflow automation software, such as Flussos. These platforms allow you to operate your business online, connect your team, boost your productivity and streamline your processes.

Whether your team members are working in-office, remotely or offshore, these platforms allow you to collaborate in one place. Working together virtually lets you complete tasks, such as tenancy applications, consistently and compliantly. By shifting your processes online, you can effectively boost your team’s performance, improve your customer service standards and sustainably grow. As a result, using property management workflow automation software can help future-proof your business by ensuring it remains competitive.

“Using property management workflow automation software can help future-proof your business by ensuring it remains competitive.”

4. Follow cybersecurity best practices

As technology constantly advances, the risk of cyberattacks increases. Cyberattacks are not only costly, but they put your reputation, team and clients at risk. While future-proofing your property management business means investing in technology, you must also invest in cybersecurity tools and follow best practices to be safe.

Top ways to protect your business include using antivirus software, regularly backing up data, using strong passwords, managing user permissions, avoiding public Wi-Fi and educating your team on cybersecurity practices. In addition, you should consider engaging an IT security company, such as Avantia Cyber Security, to protect your systems. Employing these measures helps proactively secure your business and ward off any potential cyberattacks now and in the future.

5. Build your online presence

Now more than ever, building a strong online presence is essential to remain top of mind with customers. Since most property owners and tenants start their search online, you should market your property management business on multiple platforms, including Google, Facebook, Instagram and property portals. But, if you want to reach a larger audience, you need an effective digital marketing strategy.

Outsourcing your social media to a dedicated real estate social media agency, such as Olivv Social, is a great place to start. Working with an expert can take away the stress of managing your social media profiles in-house and help optimize your results. You should also ensure that your website is user-friendly and offers resources that position your agency as the market area specialist. These tactics make you stand out from competitors and become the go-to agency through any market conditions.

Investing in search engine optimization (SEO) is also critical. It’s a good idea to include SEO in your digital marketing strategy so you can work towards ranking on page one in search engine results. What’s more, you should develop an email marketing strategy to capture and nurture leads. By sending regular emails, you can build trust with your audience and convert more clients. Building an online presence through these measures can establish your brand’s authority and develop a loyal customer base, which helps future-proof your business.

Future-proofing your property management business in these ways can safeguard your agency, guarantee it remains relevant and ensure it services your customers’ needs now and into the future. Remember, investing in technology is only the beginning. You must also constantly adapt your processes to equip them for the industry in the long term. Doing this will help you operate a nimble and profitable business that thrives in the digital era.

Get started with future-proofing your property management business today! Using powerful property management workflow automation software can keep your processes adaptive through any conditions. Flussos, the only workflow platform built specifically for property managers, lets you streamline your business and operate an agile agency.