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How Tech is Affecting Apartments

e-rental lease

Digested from Forbes

The industry has made great strides on the tech front, but it needs to keep evolving.

As technology evolves and is adopted by the apartment industry, it easy to lose track of just how far the industry has come. In a recent piece for Forbes, Michael Zaransky, Founder and Managing Principal of MZ Capital Partners, gives an update.

Zaransky points to the industry’s package handling, smart home and internet connectivity gains, which have been well documented. Outside of those advancements, he also looks at the apartment sector’s communication strides and what is still coming in that realm as communities move beyond paper.

“Smart property owners are also able in this day and age to process leases and renewals online, courtesy of smart contracts and e-signatures,” Zaransky writes. “Also, I have found that hard copies of in-house communications like newsletters have gone the way of the dinosaurs. Renters much prefer to receive such dispatches electronically — and that is especially true of younger renters like millennials, who tend to be so environmentally aware.”

On the marketing front, Zaransky encourages apartment firms to find Gen Z. “Marketing is another area where tech comes into play, as many real estate firms do so solely online, courtesy of websites and social media,” he writes. “Instagram is a worthwhile frontier to explore, as it is the preferred platform of Gen Z — a small surprise, perhaps, since IG dates all the way back to 2010, making it relatively ancient by social media standards.”

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