Property managers have been slowly adopting and adapting to newtechnologies, but since the onset of the pandemic hit, technologyhas become an essential tool in the property management toolbox.Technology has become an integral way to communicate withresidents, vendors and conduct basic business operations. Accordingto a recent survey conducted by AppFolio, 23% ofproperty managers have increased dependence on technology since thebeginning of the pandemic.

"Shifting to so many remote processes has led propertymanagement teams to lean heavily on technology to support theirbusiness continuity," Stacy Holden, industryprincipal and director at AppFolio, tells GlobeSt.com. "Residentsstill need to pay rent and submit maintenance requests, andprospective residents still need to be able to book showings, tourunits and sign leases. Technology allows for the progression ofmany regular activities to be done remotely and on-demand, ensuringproperty managers can continue to meet the needs of current andprospective residents."

Digital rent collection is one of the biggest changes forproperty managers. Since the pandemic, most property managers haveshifted to some form of online or digital rent collection. "Theentire rent collection process for many property managementcompanies shifted to enable contactless rent payments," saysHolden. "Instead of having residents drop off their rent checks toproperty management offices, companies are emphasizing the optionfor their residents to pay using online renter payment portals, sothat payment can be made electronically, with no interactionbetween property management teams and the residents."