Technology has always incrementally changed the way people work and interact. However, FirstPort believe it’s the contemporary convergence of internet, connectivity, miniaturisation, micro-processing, smart device and software app that has turned steady steps into radical leaps of potential and capability.

The opportunities technology offers for transforming residential property management (RPM) to enhance value, service and experience are huge – the early evidence is there. The pressures of environmental sustainability, demographic changes, shifts in economic power, accelerating urbanisation and complex regulatory compliance demand smarter operational processes and a strategic shift in the way our market thinks.

FirstPort believe technology will simplify this complexity to deliver a new era of residential place-making. However while our industry understands the theoretical ‘why’, it has not yet grasped the massmarket ‘how’. The primary barrier is a lack of common industry technology standards integrated across complementary areas like architecture, design, planning, construction and compliance. These we must solve collectively.

The commercial rewards will be profound. Service and value concepts will change radically. Residential property managers will be free to develop real-time, multi-channel management of all resident communications, interactions and transactions – backed by smart self-diagnosing property systems that streamline maintenance processes and shrink operational timelines.

User-defined, smart applications will transform the resident experience – from virtual concierge, telehealth and security apps to ultra-sustainable, fingertip control of heating and lighting via smart sensors and thermostats.

Ultimately it is this potent combination of people, common standards and technology innovation that will separate good residential place-makers from those who are truly great… those who will unlock a new era in experience, convenience and performance that reflects our changing world. 

Click here to read the FirstPort briefing report.

19 October 2016