Prior to COVID-19, many property management firms were already adopting technological solutions for property management. This process was further accelerated due to the magnitude of challenges directly resulting from the pandemic. Significant changes and adaptation were necessary to allow property managers to work remotely and effectively to continue to manage their properties. This created a need and desire to seek out technology that could be introduced to help accommodate property managers in fulfilling their responsibilities. The advances and industry shifts have been beneficial in saving time and money along with increasing resident satisfaction. In 2021, according to Buildium’s, 4 Property Management Industry Trends to Watch, in 2021, about 82% of property management firms utilize a property management software. This software has become essential to property management firms and is considered a must-have for tracking HOA fee and rent collection, maintenance requests, and lease expiration. However, only 54% of property management companies have adapted to offer online maintenance ticketing and only 52% provide electronic leasing. With movement toward the use of technology increasing, it is crucial for property managers to stay informed with the latest trends to ensure they maximize their effectiveness with the latest advancements and products. 

Peacock Properties, a Charlestown-based property management firm, not only utilizes the latest management software but consistently searches for new and developing technology to implement with property owners and residents. By using property management software such as Buildium, Peacock can ensure smooth communication with all parties and offer an extra layer or transparency to complex projects by providing in-depth financials and documents with ease of access for condo associations. Tech-based solutions, also offered by Peacock, allows for online payment, maintenance requests, and messaging to guarantee that the needs of residents and owners are heard and taken care of. Streamlining these processes through one online system helps to increase customer satisfaction and tenant retention. In addition, Peacock’s own team benefits from using these tools and can communicate at a greater level than your typical property management company. This software allows Peacock Properties to productively handle a variety of property types both commercial and residential. 

Currently, Peacock is tracking several trends and new products designed to create solutions to various property management concerns.

• Touchless Entry: Touchless entry has grown in popularity since the start of COVID-19 with a general rise in consciousness of health and the spread of bacteria. There are various options available that allow residents peace of mind when entering their buildings. ButterflyMX provides service that allows residents to use their smartphone video to open doors and gates. This practical solution is easy to install into existing properties. 
• Package Solutions: As most building owners and managers know the influx of packages never stops and it is growing due to the reliance and shift towards technology. From Amazon locker systems to smart package rooms using Computer Vision Technology, Peacock has worked on providing these solutions for the growing issue across the city. By understanding the various options available, the management team can make the best recommendation for each property depending on its varied needs.
• Transit Screens: This system is designed to provide live, reliable public and private transit information to residents and guests. This feature often set up in the building lobby is an excellent amenity to any building regardless of size. 
• Smart Buildings: New construction buildings are now being designed and built with attention to environmental sustainability and future implications. Existing properties can also get involved and upgrade existing assets to increase sustainability and save money. Working with an energy consulting firm, Peacock has the ability to provide accurate recommendations to property owners from energy efficiency tracking to minimize expenses and the impact on the environment. 

There are countless new technologies available in the property management industry and the landscape is constantly shifting and growing. Many residents, especially in the Boston area, have come to expect the highest level of technology available in their homes. It is vital to choose a property management firm that is knowledgeable about the industry and can stay on top of these advancements. Peacock Properties not only offers modern solutions for property management but strives to find and implement new and innovative technology to increase their effectiveness and continue to provide top-level management.