| | 9HOSPITALITY BUSINESS REVIEWDECEMBER 2024The impact of implementing well designed, proven PropTech is great, but it's a big job and we must have someone on our team that is responsible for this. Businesses need a team member to manage their technology and then to implement new platforms and support the team during any change. A "Technology Change Manager" needs to be someone who has their finger on the PropTech pulse, is aware of upcoming software developments and whether now is the time to pivot to a new system. Someone who can look under the glitz and hype to how good the innovation is, analyze the timetable for upgrades, do due diligence on the supplier and what their support systems are like, negotiate a fair contract and plan for the implementation - with one eye on the horizon for the next groundbreaking piece of tech. Gone are the days when you installed software and used it for the next ten years. A business owner needs to plan for a major upgrade or new software, roughly every two years. And that's where the other part of your technology change manager's role comes in: managing the change, holding the hands of your property managers as they transition to a new system. Training them to not fear change, to embrace it and invest the time learning a new system to reap the efficiency benefits down the track. Clients are looking for a fast self-serve in every aspect of their lives including management of their investment property. The new generation of investors is tech savvy and looking for a business with a model that allows them to get what they need, when they need it - remotely. They want transparency over every aspect of the management of their property. Similarly, renters are looking for systems that allow them to pay their rent, submit a maintenance request, agree to an inspection, and give their notice - all on their phone. And while they are on their phone they won't hesitate to give businesses a one star review if the process frustrates them. Those property management businesses that can't adapt, that aren't strategic about the implementation of PropTech, will be left behind. Gone are the days when you installed software and used it for the next ten years. A business owner needs to plan for a major upgrade or new software, roughly every two years
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