Property Technology or “PropTech” is a buzzword in the global residential or commercial real estate world. It has been instrumental in revolutionizing its operations and empowering the real estate sector to conduct its operations smoothly during the Covid-19. In simple terms, PropTech refers to the implementation of information and disruptive technologies in simplifying the management & performance of real estate projects.
Property Technology is playing a vital role in every function of the real estate sector. It is making its presence felt everywhere – right from processing the financial transactions through blockchain to managing lead pipelines on CRM software.
PropTech is facilitating the real estate developers in –
- Using more energy-saving and environment-friendly materials during the construction process to optimize the operational cost of the building
- Simplifying their bulky organizational work
- Bringing more transparency to the financial transactions
- Better marketing & promotion of the properties
Until the benefits of PropTech were explored, the real estate sector was practicing the traditional methods of interacting with sellers, buyers, and lending institutions. However, with the advent of emerging real estate technologies, the sector is changing the way it is used to conduct business. Investors are keen to invest in those technological platforms which allow them to manage multiple activities from the comfort of their homes. Certainly, this is the biggest reason for the dawn of Property Technology or PropTech.
PropTech – An Integral Part of KAIZEN AMS’ Operations
Being a tech-enabled property management firm in the UAE, Kaizen AMS invests significantly in exploring and implementing unconventional technologies into its operations to stay ahead of the competition. Since its inception in 2006, Kaizen AMS has innovated a vast range of distinctive Proptech applications using Virtual Reality (VR) and Augmented Reality (AR). These applications have gained even more prominence since 2020 due to Covid-19 and have empowered Kaizen AMS in exercising social distancing norms in its managed communities as per the government directive.
The implementation of Property Technology has worked wonders for Kaizen AMS in streamlining its vast operations and has touched every aspect of our business. Right from lead generation to funnel optimization, property inspection, brand awareness, tenant satisfaction to advertising & promotion of the property, communication, and sales assistance – PropTech has always been an integral part of Kaizen AMS’ success story.
PropTech has empowered ‘Kaizeners’ – (a term used for our most valuable asset – Our Employees) in launching a list of unwonted mobile applications to serve the residents living at Kaizen-managed properties in their day-to-day activities and in ‘Creating Memorable Experiences & Communities’ – which is our vision.
Role of Technology in Making Kaizen AMS a Top Choice for the Developers
Kaizen AMS’ innovative tech. applications play a key role in the management of our communities in the most efficient manner. Effective management has a pivotal impact in reducing the cost of operations and improving the resident’s experience which results in better occupancy rate, revenues, and reputation for the real estate developers.
To know more about how Kaizen AMS reduces cost and boost occupancy at its managed communities, go through our case study – ‘Curtailing Costs & Boosting Occupancy for Commercial Buildings’.
Here are the highlights of how Kaizen AMS delivers first-rate property management services using its unconventional PropTech applications –
1. Snag Report
Snag Report is a comprehensive site monitoring tool to identify the snags in a unit. Once the snag is identified, they are assigned digitally to the various contractors through a phone application. Snag report provides live updates to all the relevant parties on the progress of snags and ensures that Kaizen AMS teams hand over a flawless property to the homeowner or tenant. The delivery of snag-free property makes the property attractive among potential homeowners or tenants. This not only improves the homeowners’ experience but is also a big boost to the reputation and brand image of the developer.
2. Building Management Softwares’ (BMS)
Kaizen AMS deploys advanced Building Management Softwares’ (BMS) to reduce the operational cost of the building. Reduced operational cost maximizes the net profits margins of the developers and minimizes the need for a substantial increase in rents and service charges. Minimal increases in rent & service charges also have a profound impact on resident satisfaction and boost the occupancy rate of the community – a win-win situation for residents, developers, and Kaizen AMS.
Kaizen AMS’ Building Management Softwares facilitates our property managers in keeping a birds-eye control on the total energy consumption of the building in a specific time period and in comparing it with the same month’s usage of the previous year to identify the difference and take corrective actions on time. Our idiosyncratic building management software is crucial in reducing the overall operational and maintenance cost of the building and in designing an effective and predictable maintenance plan. Furthermore, Building automation systems allow our property managers to remotely control the air quality, cooling, heating, and ventilation of the building through timely notifications and alerts which further reduces the operational cost of the building.
Kaizen’s technology team plays a pivotal role in this journey by: –
- Improving property performance through operational and financial insights
- Minimizing the cost per unit by automating most of the repeated operational tasks
- Reducing the efforts of the developers and residents through automation of requests and by offering curated services.
- Analyzing the property data based on algorithms designed on the principle of minimizing operating costs and maximizing the revenue of properties.
3. Comprehensive Dashboards to Provide 360-degree Visibility
Kaizen AMS deploys revolutionary dashboards to provide 360-degree visibility to the developers as well as to our Property Managers on the status of our managed communities. This assists them in making informed decisions pertaining to the operational cost, building’s performance, resident retention, site monitoring, and effective budgeting & financial management.
The Implementation of Technology at Kaizen AMS Office
Being a Technology-Enabled Property Management Company, Kaizen AMS makes the best use of technology in every operation to stay ahead of the competition. Each team at Kaizen uses highly-advanced and ingenious technological applications to serve our stakeholders in the most efficient, effective, and professional manner.
Let’s take a look at how each team at Kaizen AMS leverages advanced technological tools developed inhouse to stay a forerunner in the industry –
Technology is widely used by Kaizen’s marketing team in publishing the listings for leasing of managed units online, simplifying the communication process, offering 3D virtual tours, and conducting online inspections. With the implementation of technology, every team & department at Kaizen AMS stay connected with each other as well as with their current or prospective client. Technology has also facilitated Kaizen AMS’ Marketing team in arranging quick property tours for the potential tenants through virtual and augmented reality.
Client Experience Team
Technology has allowed Kaizen’s client-experience team to resolve queries received from tenants, developers, investors, etc. at a much faster pace through Chatbots. It has also improved the communication among the developers, tenants, and property managers at Kaizen-managed properties.
Business Development Team
Advanced cloud-based software and applications empower our Business Development team in keeping the track of the status of projects and in onboarding new clients and sending them relevant content to keep them updated on the key industry updates. Technology also facilitates Kaizen AMS’ top leadership in better strategic planning, revenue forecast, and financial management.
Client Relationship Team
Technology has enabled our Client Relationship Team in offering unparalleled and outstanding services to the stakeholders through instant gratification. The role of technology has been instrumental in keeping Kaizen AMS in touch with both existing & potential clients and keeping the track of emails.
Property Management Team
Technology assists our Property Managers in swiftly communicating useful & desired information with the landlords, tenants, owners, and all our stakeholders. It also assists the Property Management team in providing faster responses to the resident’s queries & requests.
In the last few years, Kaizen AMS has come up with some of the most advanced applications. This includes the WhatsApp Chat feature, Online forms, Chatbots, to name a few to assist our Property managers in managing a wide range of functions while maintaining utmost resident satisfaction through personalization and human touch.
To know more about how Kaizen AMS leverages PropTech to provide a truly world-class experience to the residents at its managed properties, read our case study – “5 Ways to Achieve Resident Satisfaction with Personalization through Technology”.
Property Technology or PropTech is taking the real estate sector to an all-new level and making it more technologically advanced and equipped to serve its stakeholders. PropTech has become a necessity for the sector in the Covid-19 era in conducting its operations while maintaining social distancing for the safety of its employees.
PropTech has touched every aspect of the real estate sector and has made its operations faster, transparent, systematic, and above all environment-friendly. PropTech has allowed the real estate and property management sector to conduct digital inspections of the properties. It has facilitated builders in project development, support sales agents in researching & analyzing the prospective leads, and property managers in better management and control of assets. PropTech is beneficial for the residents in paying their rent and in registering their visitor details. It also assists real estate consultancy firms in preparing industry reports on future market trends and real-estate leaders or top management in making informed decisions. Proptech application allows real estate agents and executives in storing their documents on external servers & accesses the data from anywhere, leading to more transparent operations and cost savings.
Technology – in all forms has always been a key factor in the success of Kaizen AMS. It has simplified every aspect of our business and has empowered our employees to serve residents at our managed properties in the most efficient manner.
Technology has acted as a blessing for our:
- Kaizen AMS’ Marketing team in easily marketing & promoting our managed properties through 3D virtual tours and in conducting online inspections to boost its charm and occupancy rate.
- Client Experience Team in providing faster responses to the queries of our stakeholders using Chatbots and Whatsapp Chat features.
- Business Development team in tracking the progress of the projects and in analyzing bulky data to provide better insights to our stakeholders.
- Client Relationship Team in providing great services to the stakeholders through instant gratification, staying in touch with the potential clients, and keeping a track of emails.
- Property Managers in communicating with the landlords, tenants, owners, and all our stakeholders and in providing faster responses to their queries & requests.
- Technology team to develop a newfangled Whatsapp Chat feature, Online forms, that empowers our Property managers in managing diverse functions across Kaizen AMS’ managed properties.
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