- Better communication
Many PropTech companies focus on setting up messaging services to heighten communication between landlords and tenants. A lot of these platforms provide access to documents or forms for claim reporting. So property managers can leave relevant information about the property on a whiteboard, while owners can respond directly to tenants requests. Less misunderstandings and faster answers are the result. Here you can find some useful apps for property management.
- Higher value
All these scenarios can ultimately increase the value of a real estate, which in turn will result in higher rental returns. Just think of it. Buildings with PropTech will probably be associated with quality and seen as more valuable than buildings that is not provided with PropTech.
Different Proptech applications can have a huge impact on real estate. The strength lies in the combinations of them, which offers additional value. Naturally there are more than six benefits of PropTech.
PropTech (property technology) is the use of information technology (IT) to help individuals and companies research, buy, sell and manage real estate. Similar to the way FinTech focuses on the use of technology in finance, PropTech uses digital innovation to address the needs of the property industry.
PropTech is designed to streamline and connect processes for participants in all stages of the real estate market, including buyers, sellers, brokers, lenders and landlords.
Proptech is the acronym used to describe any technology for the real estate space. This can span software, hardware, materials or manufacturing.