The Role of Technology within Residential Property Management

28th March 2024

Alison Price

The Role of Technology within Residential Property Management

The residential property management (“RPM”) industry is undergoing a transformative professionalisation journey, propelled by advancements in technology against a backdrop of increasing regulation. From streamlining operations to enhancing resident and employee experiences, technology has become an integral part of managing residential properties efficiently and delivering a high quality service.

Cloud-Based Property Management Systems

Many RPM operators have shifted from onsite, server-based IT infrastructure to cloud-based systems and storage. In a data-rich sector which looks after millions of homes across the country, it is important for data to be managed in a consistent and secure way. A cloud-based approach also facilitates real-time collaboration and data accessibility from anywhere, providing a more flexible and responsive property management experience.

Automated Maintenance and Repairs

Maintenance and repairs are crucial aspects of property management, and technology has simplified and optimised these processes. Property managers now use digital maintenance management systems and compliance dashboards, online audit surveys and portable devices to automate and undertake routine maintenance tasks, which ensures consistent compliance across sites and adaptation to new regulation such as the Building Safety Act. This approach is also likely to contribute to building cost savings in the long run.

Robotic Processing Automation (“RPA”)

Client accounting is a critical service undertaken by the RPM sector which involves managing a high volume of activities, contractors, invoices, resident payments, and timely and accurate budgeting across each site. Client accountants must be highly qualified, however many of these tasks are repetitive and high volume and at risk of human error. By leveraging advancements in RPA technology to streamline some of these processes, both job satisfaction and accuracy can be improved, as well as quality of service to residents because client accountants can focus on the more ‘human’ and complex elements of the role.

Resident Engagement and Customer Satisfaction Data

The majority of Encore residents have elected to go ‘paperless’, which demonstrates the shift towards digital engagement and reduction in demand for paper-based correspondence. By moving residents onto a bespoke app, our aim is to make life easier for residents, from viewing and settling service charges to reporting issues to engaging with local communities. At Encore, our intention is to change the way we communicate with residents, making communication more regular, simple, and visual. The days of long letters are gone. This not only keeps residents up to date but also promotes the use of the app as the best way to interact with us, the estate, and the community.

Digital Training and Employee Engagement

Employee recruitment and retention remains a key challenge for the sector. At Encore we believe people are our most valuable asset and we closely track “STARS”, defined as employees who have been with the business for over 2 years and whom are working towards a professional qualification. We believe it is important to continuously invest in employee training and development across the RPM career pathway, from newly recruited Assistant Property Managers to Regional Directors, and our digital learning hub has become an integral part of The Encore Academy.

In conclusion, technology continues to reshape the landscape of residential property management, bringing efficiency, transparency, and improved resident and employee experiences. From cloud-based infrastructure to automated maintenance to digital engagement with residents, property managers now have a powerful toolkit to navigate the complexities of the industry.

At Encore, one of our key successes in implementing new technologies, particularly new software, is aligning business processes and providing comprehensive training and continuous support for staff. This is why The Encore Way (our ever-evolving procedures and tools) and The Encore Academy come together with the development of our technology roadmap.

We believe the RPM space is poised for further innovation as technologies continue to evolve, promising a future where managing properties is not only more efficient but also more engaging, professional, and sustainable.

Queen’s Park Equity LLP

33 Glasshouse Street
London W1B 5DG
United Kingdom