An important business partner for us as an owner of a building is our tenant and our property manager is supporting to satisfy the tenant’s demands. He is finding the new tenant, dealing with the daily needs of the him and forwarding the landlord the collected rent. The property manager reduces the workload for the landlord and investor. Due to the specialisation and usage of technology in this field our property management company is able to scale and leveraged the knowledge they have.
We are working with well trained and professional property managers, who are a blessing to us, the investor and the tenant. Together, we use crucial technology in order to enhance efficiency, transparency and communication. This will lead either to a decrease of cost or workload. The usual repetitive work of the property manager has been standardised by using modern SAAS software solutions. The way a tenant communicates with our property manager has been changed from an analogue way, which means accepting a phone call, sending a letter or fax to a digital way. This digital way of communication means e.g. that the tenant is reporting issues with an evidence (photo) via an app trough a smart phone, via the Internet or let the building detect an incident by itself through the usage of sensors.
The demand of tenants is also increasing. The traditional tenant was happy with the building, which he was able to furnish and maintain by himself. However, the trend moves towards flexibility and short-term lets. Our tenants rent a place as a service like co-working or co-living without the hassle of furnishing and maintaining the building, cleaning the premise, worrying about utility costs, heating, tax or insurance. So, the tenant rather pays a small premium for a rental package to our service provider and property manager, who takes care of all these things and gives him a flexible tenancy agreement. Co-working and co-living providers have understood the change of tenant demand and are highly demanded at the moment.
Such a flexibility in a location, where tenants are paying different rates for different services could cause problems, if the usage is not separated. For example, one tenant might book a package with the flatrate access to a kitchen with a coffee machine and a meeting room. Alternatively, a tenant of a residential property wants to use the swimming pool one time only. Luckily, technology can track tenants, their behaviour and invoice the usage only. Smart locks can give access to the meeting room and the kitchen with with a coffee machine only to the paying customer and can invoice the user of the swimming pool for this one-time usage only. The tenant of the flexible package can access these rooms with their smart phones, too. Nevertheless, he will need to pay for the extra usage, which is directly deducted via an app from their bank account.
We use digital solutions for our residential, commercial and individual properties.