In the era of digital convenience, where nearly every aspect of our lives can be managed with the touch of a button, the role of mobile apps in property management has become indispensable. As residents’ expectations evolve, the demand for seamless, on-demand services is reshaping the way property managers interact with their residents. Having a dedicated resident app is no longer a luxury—it’s a fundamental component of modern property management.
Meeting the expectations of today’s residents
With 62% of renters in BTR aged 25 to 44, which closely mirrors the demographic trends in the wider private rented sector, today’s residents, particularly those in the millennial and Gen Z demographics, are digital natives. They are accustomed to managing their lives through apps, from banking and shopping to fitness and entertainment.
The adoption of smartphones and digital platforms is not limited to the younger generation; older adults are increasingly becoming comfortable with technology. For example, in 2015, only 18% of people aged 65+ owned a smartphone in the UK. However, just eight years later, this figure had surged to 80%. Similarly, social media usage among this age group saw significant growth, rising from 11% in 2012 to 45% in 2021.
Why is having an app so crucial?
This shift towards a mobile-first approach has redefined what residents expect from their living spaces. They no longer want to rely on traditional methods such as emails, letters, or phone calls to manage their day-to-day tasks. Instead, they seek the convenience of handling everything from a single, user-friendly app, with over 80% believing that resident portals are a convenient or must-have feature.
1) Streamlining Communication
Effective communication is the cornerstone of successful property management. In the past, property managers have relied heavily on emails, phone calls, and physical notices to keep residents informed. However, these methods are often slow and prone to being overlooked. For instance, typically only 20% of emails are ever opened. Resident apps such as Spike Living, transforms this dynamic by enabling instant, direct communication through push notifications, in-app messages, and real-time updates which have an open rate of up to 95%.
This allows property managers to quickly inform residents about important updates, such as upcoming maintenance work, community events, and even emergency alerts, with the ability to schedule these notifications in advance. This not only improves the timeliness of communication but also ensures that residents are always in the loop, leading to higher levels of engagement and satisfaction.
What’s more, as Spike maintains a clear audit trail of correspondence, with all activities logged against a property and resident, this forms a key part of the golden thread, helping property managers comply with the record-keeping requirements of the Building Safety Act 2022. This ensures that every interaction is documented which can be used as evidence in case of future disputes.
2) Simplifying Daily Tasks for Residents and Property Managers
With 92% of residents preferring digital communications, one of the most significant advantages of having a resident app in place is its ability to simplify daily operations for both residents and property managers.
For residents, the app serves as a one-stop-shop for a variety of services and encourages them to self-serve whenever possible, reducing the workload on staff. Whether it’s booking onsite amenities, paying rent or accessing crucial building safety information such as your Resident Engagement Strategy which is a key requirement of the Building Safety Act 2022, everything can be done with a few taps on their phone.
What’s more, The Health and Safety Executive revealed that 4 in 10 residents think it’s difficult to raise an issue. With Spike, residents can easily submit maintenance requests with details and photos, helping property managers to understand and address issues more efficiently and quickly. This increases the likelihood of fixing the issue on the first visit and reduces response times by 30%.
This means that property managers can spend less time on administrative work and more time on the ground, conducting site inspections, meeting contractors, and building resident relationships.
3) Enhancing Engagement
Resident apps also help foster a sense of community by providing social interaction. With research revealing that renters with more than five close relationships in their community are one and a half times more likely to renew their tenancy, features such as social forums, event calendars, amenity booking, as well as neighbourhood guides, encourage residents to connect, share experiences, and build relationships, enhancing the overall living experience.
Developments that have resident apps in place have reported a 25% increase in amenity utilisation and a 46% increase in resident participation in events, leading to higher resident satisfaction.
4) Driving Ancillary Revenue
In addition, having a resident app in place can also serve as a revenue-generating tool. For instance, onsite amenities and events can be monetised and made bookable via your app, with payment taken at the time of booking. In addition, property managers can also offer premium services like house cleaning, laundry or pet care that residents can purchase directly through the app, increasing additional revenue.
Furthermore, by partnering with local businesses and service providers, property managers can also offer residents exclusive deals and promotions through the app, creating additional revenue streams through affiliate marketing and commissions.
Summary
The importance of having a dedicated app for residents cannot be overstated. It enhances communication, simplifies operations, increases engagement, and drives additional revenue. As the real estate landscape continues to evolve, property managers that embrace this digital transformation will be better positioned to meet the needs of today’s tech-savvy residents and remain competitive in the years to come.
Book a demo to learn how Spike enables you to meet the expectations of today’s residents, simplify daily operations, ensure compliance, and boost resident engagement.
