The Mobilization of Property Management in 2016

The mobilization of Property Management has never been more important in 2016. Homeowners and residents are spending more time on their mobile devices with the average adult spending nearly 3 hours a day on their smart phone. Providing mobile options for residents like responsive web design, mobile apps, and mobile offerings (loyalty programs, incentives, and exclusive content) is becoming common practice to stay competitive within the industry. A brief overview of mobile trends shows consumers are placing more and more value on companies that integrate mobile solutions into their day-to-day operations.

Consumer Preferences

Mobile usage has skyrocketed over the last 2 years with smartphone apps driving the most growth in digital media consumption. Consumers are spending less time on desktop & mobile browsers and more time using mobile apps. App usage as share of time spent by platform (desktop, mobile app & web, tablet) since 2013 has increased by 11% and mobile usage overall has increased 12%. Mobile engagement is dominating the share of time spent on digital media accounting for 56% of total time spent. The growth forecast shows that consumers are migrating to mobile quickly, and not slowing down anytime soon.

A study of payment trends conducted by the Federal Reserve revealed the number of checks written each year has been falling 6% annually, while the number of E-payments has risen over 9%. Demonstrating the shift of consumer preferences towards an increasingly techno-centric environment.  Another 2016 Study of Mobile Consumers showed 38% of consumers appreciate online loyalty programs and rewards saying they'd be more likely to involve themselves with brands that provide incentives for their customers. Connecting residents with online services is the best way to ensure you stay competitive and keep your residents engaged. The shift to mobile is undeniable, and mobile apps and online incentives are just a few of the ways to engage your customers.

Technology as an Amenity

Average time spent on digital media, E-payments & loyalty programs are just a few of the ways consumers are showing they favor online services. A survey of Gen Y-ers shows 69% of residents view rental and HOA properties more favorably when they have an online presence. Residents are viewing technology offerings as an added amenity. They're looking for ways to pay online, send service requests, and interact with Property Management, as well as each other. Offering solutions to these problems shows them you're dedicated to keeping your company up-to-date, as well as assuring them a higher degree of responsiveness.