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Property Management

Is PropTech the Key to Surviving the Great Resignation?

It started in March of 2020. Trapped inside our homes at the start of the pandemic, fueled by loss and grief, something began to change. Faced with the finite nature of life, people began to quit their jobs at an alarming rate. They asked themselves, “If I am going to spend a third of my life working, is this how I want it to feel?” So began the Great Resignation. 

Two years later, the Great Resignation is showing no sign of slowing.  In January alone, 4.3 million people quit their jobs, and 11.3 million job openings were posted, according to the U.S. Department of Labor. In this hot job market, power is in the hands of job seekers. Today’s job seekers aren’t willing to settle for strict in-person hours, lack of flexibility, or inefficiency. 

What does that mean for the multifamily housing industry? Property management is a career path that’s known for its in-office presence, unpredictable day-to-day functions, and tough work-life-balance. As the Great Resignation reaches the multifamily housing industry, the mandate is clear: it is time to adapt. 

Using technology to assist property managers and support a healthy work balance can prevent your team from becoming the next statistic in the Great Resignation.

Getting started

The first step is to identify the benchmark for success. What does your team need to do to meet your expectations? 

Next, choose a proptech system that increases staff efficiency and enables remote management. Why burden staff with cumbersome systems that require double data entry? Boost morale and show your staff that you value their time by investing in systems with time-saving integrations. Remote work capabilities help staff find a healthier work/life balance. 

Finally, offer training to ease the transition. One of the most common mistakes when introducing new technology is insufficient training. We make staff training simple with an abundance of “how-tos”, training resources, and ongoing in-app chat support.

Welcome to the future of work

So you did it. You invested in a proptech solution and you’re ready to reap the benefits. What can you expect?

1. Flexible work
Your team can be on-site from anywhere with our remote management capabilities. Working parents appreciate the flexibility to work from home in the morning or leave early – without missing a beat. Our dashboard allows for easy viewing security footage, while access sharing makes vendor drop-offs a breeze. 

2. Self-guided tours
Your team won’t waste any more time on no-shows or cancellations. Leveraging your connected building infrastructure allows your team to spend their valuable time elsewhere. Prospects receive an email with secure credentials that allow them to tour designated areas of the community. Using their unique access code, they simply scan a QR code to begin their community tour. No log-ins or app downloads required. 

3. Do more with less
You’ll reduce  the time spent on unit turns by two hours through connected building automations. Setting the temperature and turning lights off in vancants units – a time-consuming task – now can be done in a single tap. Homebase allows your team to complete unit turns instantly and remotely. 

As workers ask for more from their occupation, the only way property management has a fighting chance to retain staff is through technological adaptation. While the up-front cost may hold some properties back, this transformation pays for itself. Use proptech to unlock new, diverse revenue streams, retain staff, and elevate your resident experience. It’s a win, win.

Curious about what proptech can do for you? Chat with our experts to discuss your property and team needs. Schedule a demo today.

Homebase brings the smart apartment experience to new build and retrofit multifamily with trusted technology that delivers intuitive building access control with smart locks, automation of property management, new revenue with property-wide WiFi, and IoT technology amenities residents enjoy. All completely installed and managed for the multifamily innovation leaders of this decade.