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What Changes Are In Store For Residential Property Managers In The Next 10 Years? And Will You Be Ready?

What changes are in store for residential property managers in the next 10 years? And will you be ready?

2010. Does it feel like it was that long ago? In 2010, 3D TV arrived, Bruno Mars gave us, “Just the Way You Are” and “app” was the American Dialect Society’s word of the year. Here we are, 10 years later, at the start of a new decade, hurtling towards the end of a year that will be an historical one. This has been a year of adjusting, changing and adapting our lives – business and personal – to suit the environment we live in. No one could have predicted the onset of a pandemic (or could they?) and the effect it would have. But had we known in 2010, would businesses have taken steps to prepare more for it?

Change is always happening. If this has taught us anything, it’s that businesses must take the time to consider what to do now that will help prepare for the future. We’re looking ahead to 2030 and what the residential property management landscape might look like then. And asking, what can Residential Property Managers do to be proactive and adapt over the next decade?

 

Growing population = Growing portfolios

In 2010 the UK population was 62.8 million. This year that figure has increased to 67.3 million. And the Office for National Statistics predicts that the UK population will increase to 70.4 million in 2030. 3.1 million more people, means more homes. And with that, larger portfolios to manage. And more people to do business with.

When we consider those demographics we’re looking at people who are currently 10 years old being 20, those who are 20 now, will be 30 and so on. This is Generation Alpha. The children of Millenials. In an article in the Huffington Post, Social Researcher Mark McCrindle, “believes the omnipresence of technology in those formative years leads to increased digital literacy and gamification of learning but also shorter attention spans and impaired social formation.”

Natalie Franke, the head of community at the business management platform HoneyBook continues, “These advancements mean that technology for Generation Alpha “is not something separate from themselves, but rather, an extension of their own consciousness and identity.”

Generation Alpha have been brought up with mobile phones as the norm. With many parents giving their kid’s their phone to watch YouTube or to ‘play with’. Generation Alpha aren’t afraid of scrolling across glass, or pressing buttons to see what happens.

In 2030, the adults who will be moving in to properties will be tech savvy, app addicts and possibly the first generation to grow up with self driving cars. Digital ways and means to run their life will be expected.

 

Tech changes everything

Tech, tech changes everything. Ten years ago it would have been unimaginable for Residential Property Managers to have offered clients a portal to make payments via their website. In fact, would many Residential Property Managers have had a website?! We know the industry as a whole can be a tad slow to react to technological advances. In 2010, CPL Software was set up to solve many of the manual processes that were common place ten years ago in property management. Now we have to start looking ahead to ensure we have solutions in place to continue to move the industry forward. And that means using technology to create good client experiences for a world where tech will be even more commonplace to help run our lives.

 

At home with Generation Alpha in 2030

Let’s have some fun thinking about the homes of the future – in a decade. The homes that Generation Alpha will be living in.

Will ‘Ring’ become the standard when choosing an apartment block? Whilst Gen Alpha are at work – they want to know that their home is safe. It’s not possible to have a concierge in all apartment or tenement blocks. But it is possible to install technology that allows homeowners and tenants to see who is coming and going or who needs access to the building. Generation Alpha are used to instant results. They don’t want to have to wait another week if someone doesn’t get into the building to carry out repairs or maintenance. And Generation Alpha want the latest in digital tech. Will apartment blocks need to have video entry and Ring installed as standard?

 

Service as a rental?

Payment portals and apps have gradually become more and more commonplace among residential property management. However there are still many firms that do not yet offer easy electronic payment methods. By 2030, will Gen Alpha that’s going to have to change. Because what we need to be thinking about it is, will the next generation even be satisfied with having to pay their property maintenance bills with an app? Will they expect to pay using Apple Pay or paying bills on a monthly basis rather than quarterly or in single payments when work is done? The rise of ‘rental’, subscriptions and split payments is set to continue and by 2030, Gen Alpha might need an entirely new set up for paying their bills.

 

Will ‘snail mail’ be email?

When email became the new way to communicate, it wasn’t long before we started referring to Royal Mail as snail mail. Now we have apps for this and notifications flying in all over the place. Instant messaging has taken over offices everywhere and it could be how Generation Alpha will expect to communicate. If a message isn’t popping up into their immediate vision, it may well go unnoticed. How will Generation Alpha pay bills? Or receive information from businesses? Remember to turn on notifications could be the buzzwords of 2030 if you want to communicate successfully with clients.

 

There is no Planet B for Gen Alpha

As well as being digitally savvy, Generation Alpha will be the generation that is forced to clean up the mess that we’ve created on the planet. The UK and devolved Governments have made commitments to reduce carbon emissions by 2030. Our home life is and will be a huge part of this clean up. How we live, use energy, eat, dispose of waste, get from A t o B. These are everyday problems that require solutions.

The implications for Residential Property Managers are that the industry may be pivotal in driving change in how shared buildings are run. For example, organising and managing solar panels on roofs, insulation inside roofs, switching to LED bulb lighting in stairwells with motion sensors to save energy, using sustainable paint, or growing and maintaining vegetable patches could all be a reality of property management life in a decade.

We’re already seeing a shift away from diesel cars. Before it happened, no one could have predicted that London’s congestion charge would have been introduced. If all major cities in the UK place a ban on driving diesel and petrol cars in city centres, and city dwellers must shift to electric, who will be responsible for installing and managing the electric charging points in blocks of flats? We’re already seeing electric charging points cropping up in apartment blocks.

The other clean way to get around town (aside from walking) is of course, cycling. Bike racks in city centre blocks are already visible and as cycling becomes encouraged, more and more people will be two wheeling it to and from work. Which means bike racks will need to be a common feature in blocks of flats.

Imagine, in 2025, legislation is brought in to include these rapid shifts in how we live in cities and suburbs. It will change how residential property maintenance is carried out, placing Property Managers at the centre of the adaptations.

From 2020 to 2030 – what can Residential Property Managers do to be proactive and adapt over the next decade?

Change never happens overnight (unless a global pandemic hits). But when we don’t have to change, it takes time. 2030 will be here before we know it. And businesses must change to suit the growing and changing population. How will Property Factors and Block Management firms react? Will you be proactive or reactive? Getting ahead of the curve is the only answer. Predicting what might happen in the future allows us to start preparing now. To implement plans to move the business forward month by month and year by year. So that by 2030, the start of the next new decade, we’ll be ready for the needs and demands of a new generation.

 

Brian Welsh, MD, CPL Software has 30 years in the software industry and has been at the forefront of property management software solutions since 2010.

 

If you would like to discuss your business needs with a team of UK based experts in your field, please contact us today for a friendly chat or to book an appointment.

SPECIALIST SOLUTIONS FOR PROPERTY FACTORS

Management and Financial

Pointing at post it notes

Board and Management Information

Directors and Management will have full and easy access to relevant and necessary business information online. Reduce business risk by improving processes and procedures for everyone in the team.

+ Trackability and traceability of all inbound documents and communications
+ Achieve SLA’s with a traffic light system to track progress on tasks
+ Granular Management Information based on a tree structure
+ Identify any potential breaches of SLA’s and take proactive steps to resolve
+ Implement fully automated processes to reduce costs, save time and improve business efficiencies

Man reading newspaper

Accounts and Financial Management

Manage all finances going in and out of the business at the touch of a button. Improve your management data and automate manual processes to save you and your business time and money.

+ Works for actual or budget basis
+ Preparation of budgets and financial forecasts
+ Automated billing and reminders
+ Preparation of year end accounts and returns and automated year end statements
+ Track and trace all inbound documents and invoices to meet SLA’s
+ Produce and view graphs
+ Upload and send invoices
+ Automate and manage Credit control and Purchase Ledger
+ Set daily, weekly or monthly reminders
+ Manage debtors

Person on laptop

Compliance and Regulatory

Avoid FTT’s, meet rules and legislation and ensure you never miss a deadline. With dedicated software for Scottish Property Factors, you can manage all of your legal requirements automatically, without having to stress or worry about it.

+ Reminders direct to your desktop
+ Peace of mind that you will never miss a deadline
+ Stress free way to manage your legal obligations
+ Liaise with suppliers and clients automatically

Client Services

Edinburgh tenements

Property Factoring

View your entire portfolio online in one place with all communications centralised and visible to those who need it, when they need it.

+ Daily management of all property factoring tasks
+ Streamlined processes
+ Smoother communication with clients, contractors and suppliers
+ Visibility of portfolios – great when team members are on holiday
+ Easy apportionment of charges
+ Reminders, appointments and To Do lists in one place

Women on laptop

Customer Care

Manage your client communications with ease allowing you to be more responsive, timely and to meet service level standards. Meet their growing digital expectations with your own branded portals and apps.

+ Smoother payments with a branded online portal and app
+ 24/7 communication
+  Full transparency of documents online with traffic light system to ensure SLA’s are met
+ Improved cashflow
+ Paperless billing saves postage
+ Future focused business and brand

Person holding phone

Payment Portals and App

Make it easy for your clients to pay bills and statements with your own branded client portal and app. The portal and app integrates with your software and automates the entire process giving you complete transparency and streamlining of billings, payments and reminders.

+ Improved cashflow
+ Automate bills and reminders
+ Reduce your carbon footprint with paperless billing
+ Easier way to pay
+ Integrated solution with your software
+ Future proof your business
+ Exceed your client expectations

People at a desk

Insurance and Claims

Automate your insurance bills and statements replacing a manual process with a streamlined solution.

+ Communicate easily with clients
+ Automate insurance billing
+ Peace of mind for you and your clients

Property Maintenance

Drill

Repairs and Maintenance Made Easy with Blockworx

Automate your repairs and maintenance processes and go digital with Blockworx – the easy way for contractors and Property Factors to work together.

This ‘full circle’ approach to managing this often complex and time consuming task makes the entire process smooth and seamless. From requesting quotes through to final invoices, the entire process will be brought online in one place.

+ Send and receive tenders automatically
+ Distribute quotes, organize voting and instruct work as a joined up process without manual intervention
+ Liaise with contractors and clients efficiently and easily
+ Provide 24/7 communication with portal and app
+ Send and receive invoices automatically
+ Fully integrated contractor and repairs and maintenance management

Man holding tablet

Health & Safety

Conduct your routine health and safety inspections and produce reports online. No need to deal with soggy paperwork and eliminate double input of work when returning from the field to the office.

+ Inspection app tailored to specific report requirements
+ Sign and send emails to all relevant parties
+ Integrates with CPL to send reminders and notifications
+ Reduces risks – insurance, health and safety and business
+ Improves business processes
+ No WiFi or 4G/5G required

Glasgow view

Site Visits and Inspections

Conduct property inspections and surveys quickly and easily with our easy to use app. Create your own bespoke reports that you can send to recipients instantly.

+ Upload photos instantly
+ No more soggy paper and pens
+ Improved efficiencies and time savings
+ Transparency of information
+ Email to all relevant parties as soon as the report is generated
+ No WiFi or 4G/5G required

Sustainability

Buildings green trees

Sustainability

As businesses, being conscious of our impact on our environment is a necessity. And clients and the general public are becoming more aware of what businesses are doing to reduce their carbon footprint. We can help you implement sustainable changes that will positively impact your business, your clients and our planet.

+ Paperlight office with electronic filing and document management
+ Introduce paperless billing
+ Implement and manage initiatives across your portfolio
+ Cost savings with less postage, less paper, less statationery and less time

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DEDICATED SOFTWARE SOLUTIONS FOR BLOCK MANAGERS

Management and Financial

Pointing at post it notes

Board and Management Information

Directors and Management will have full and easy access to relevant and necessary business information online. Reduce business risk by improving processes and procedures for everyone in the team.

+ Trackability and traceability of all inbound documents and communications
+ Achieve SLA’s with a traffic light system to track progress on tasks
+ Granular Management Information based on a tree structure
+ Identify any potential breaches of SLA’s and take proactive steps to resolve
+ Implement fully automated processes to reduce costs, save time and improve business efficiencies

Man reading newspaper

Accounts and Financial Management

Manage all finances going in and out of the business at the touch of a button. Improve your management data and automate manual processes to save time and money.

+ Preparation of service charge budgets and financial forecasts
+ Automated service charge billing and reminders
+ Preparation of year end accounts and returns and automated year end statements
+ Track and trace all inbound documents and invoices to meet SLA’s
+ Full accounting service and liaison with Auditors including Tax advice
+ Produce and view graphs
+ Upload and send invoices
+ Automate and manage Credit control and Purchase Ledger
+ Set daily, weekly or monthly reminders
+ Manage debtors

Person on laptop

Compliance and Regulatory 

Avoid FTT’s, meet rules and legislation and ensure you never miss a deadline. With dedicated software for English Block Managers, you can manage all of your legal requirements automatically, without having to stress or worry about it.

+ Reminders direct to your desktop
+ Peace of mind that you will never miss a deadline
+ Stress free way to manage your legal obligations
+ Liaise with suppliers and clients automatically

Client Services

Office

Block Management

Each and every block manager in your firm will be able to view all of their properties online in one place with communications centralised and visible to all who need them. By automating the admin, your Block Management team will find they have more time to spend working on delivering an even better service for your clients and adding further value to the business.

+ Daily management of all block management tasks
+ Centralised data and information accessible to all who need it
+ Streamlined processes
+ Smoother communication with clients, contractors and suppliers
+ Visibility of portfolios – great when team members are on holiday
+ Easy apportionment of charges
+ Reminders, appointments and To Do lists in one place

Women on laptop

Customer Care

Manage your client communications with ease allowing you to be more responsive, timely and to meet service level standards. Meet their growing digital expectations with your own branded portals and apps.

+ Smoother payments with a branded online portal and app
+ 24/7 communication
+ Full transparency of inbound documents with efficient traffic light system to ensure SLA’s are achieved
+ Improved cashflow
+ Paperless billing saves postage
+ Future focused business and brand

Person holding phone

Payment Portals and App

Make it easy for your clients to pay bills and statements with your own branded client portal and app. The portal and app integrates with your software and automates the entire process giving you complete transparency and streamlining of billings, payments and reminders.

+ Improved cashflow
+ Automate bills and reminders
+ Reduce your carbon footprint with paperless billing
+ Easier way to pay
+ Integrated solution with your software
+ Future proof your business
+ Exceed your client expectations

Lift buttons

Service Management

For Block Managers who need to manage services within your portfolio, our software will help manage this often complex task. Whether it’s concierge facilities, fire safety, lifts or gym facilities, CPL’s software will ensure you stay ahead of deadlines. You can utilise information and data to predict future trends and take relevant action to reduce risk.

+ Set and receive reminders
+ Liaise with suppliers automatically
+ Automatically communicate visits, works or predicted repairs to clients efficiently by email or automated mailing
+ Instruct repairs and maintenance proactively by using data to predict future trends
+ Track, trace and achieve SLA’s with easy to use traffic light system

People at a desk

Insurance and Claims

Automate your insurance bills and statements replacing a manual process with a streamlined solution.

+ Communicate easily with clients
+ Automate insurance billing
+ Peace of mind for you and your clients

Property Maintenance

Drill

Repairs and Maintenance Made Easy with Blockworx

Automate your repairs and maintenance processes and go digital with Blockworx – the easy way for contractors and Block Managers to work together.

This ‘full circle’ approach to managing this often complex and time consuming task makes the entire process smooth and seamless. From requesting quotes through to final invoices, the entire process will be brought online in one place.

+ Send and receive tenders automatically
+ Distribute quotes, organize voting and instruct work as a joined up process without manual intervention
+ Liaise with contractors and clients efficiently and easily
+ Provide 24/7 communication with portal and app
+ Send and receive invoices automatically
+ Fully integrated contractor and repairs and maintenance management

Man holding tablet

Health and Safety

Conduct your routine health and safety inspections and produce reports online. No need to deal with soggy paperwork and eliminate double input of work when returning from the field to the office.

+ Inspection app tailored to specific report requirements
+ Sign and send emails to all relevant parties
+ Integrates with CPL to send reminders and notifications
+ Reduces risks – insurance, health and safety and business
+ Improves business processes
+ No WiFi or 4G/5G required

Top of buildings

Site Visits/Statutory Testing/Building Surveying

Conduct property inspections and surveys quickly and easily with our easy to use app. Create your own bespoke reports that you can send to recipients instantly.

+ Upload photos instantly
+ No more soggy paper and pens
+ Improved efficiencies and time savings
+ Transparency of information
+ Email to all relevant parties as soon as the report is generated
+ No WiFi or 4G/5G required

Sustainability

Buildings green trees

Sustainability 

If your business is moving towards being more sustainable, we can help you. Reduce paper in your office, encourage your clients to choose paperless billing and implement initiatives throughout your property portfolio with an online solution.

+ Paperlight office with electronic filing and document management
+ Introduce paperless billing
+ Implement and manage initiatives across your portfolio
+ Cost savings with less postage, less paper, less statationery and less time

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TAILORED SOLUTIONS FOR SOCIAL LANDLORDS

People at a desk

Corporate and Governance

With strict regulations and compliance, effective and strong corporate governance is crucial in a housing association in order to meet these standards. All housing associations must comply with frameworks set by their industry body. CPL Software will provide the relevant infrastructure needed to achieve this.

+ Deliver higher levels of governance with improved automated processes
+ Easy to use, specialist software for property factoring and block management
+ Achieve organisational efficiencies to comply with rules, regulations and industry standards
+ Traffic light system to help track and trace SLA’s

Women on laptop

Customer Service

Most Social Landlords will have a customer service commitment that they must adhere to. These will generally take the format of what standards customers can expect when they interact with employees in the organisation. Your new software will  help facilitate customer facing and customer focussed staff to achieve or exceed expectations by  following standardised procedures and processes.

+ Preparation of rental reviews
+ Effective maintenance and provision of service contracts
+ Smoother payments with an online payment service and branded app
+ 24/7 communication
+ Improved cashflow
+ Paperless billing saves postage
+ Future focused social organisation

Drill

Repairs and Maintenance

Ensuring your tenants and customer’s are safe and secure is an essential part of being a social landlord. Responding to repair and maintenance requests in a timely and efficient manner will help you to provide an exceptional level of service.

+ Liaise with contractors and clients efficiently and easily
+ Provide 24/7 communication with portal and app
+ Send and receive invoices automatically
+ Fully integrated contractor and repairs and maintenance management

Pointing at post it notes

Finance and Accounts

Manage all finances coming in and out of the organisation at the touch of a button. Improve your governance and management information and automate manual processes to save time and money.

This part of the system deals with all of your accounting including budgeting, credit control, purchase ledger and financial accounts.

+ Preparation of service charge budgets and financial forecasts
+ Automated Service Charge billing and reminders
+ Preparation of year-end accounts and returns
+ Automated year end statements
+ Full accounting service and liaison with Auditors including Tax advice
+ View graphs to review performance throughout the year
+ Upload and send invoices
+ Credit control
+ Set reminders
+ Manage debtors

Man holding tablet

Health and Safety

Conduct routine health and safety inspections and produce reports online. No need to deal with soggy paperwork anymore. And your team will eliminate double input of work when returning from the field to the office.

+ Inspection app tailored to specific report requirements
+ Sign and send emails to all relevant parties
+ Integrates with CPL to send reminders and notifications
+ Reduces risk
+ Improves business processes
+ No WiFi or 3G required

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BLOCKWORX FOR CONTRACTORS

Person holding phone

Visibility for Your Business with Blockworx from CPL Software

If you’re a contractor who currently works with Property Factors or Block Managers, Blockworx from CPL Software will automate your repairs and maintenance contracts and communications.

  • View hundreds of jobs posted by Property Factors and Block Managers instantly and easily, expanding your geographic reach and giving you more opportunities;
  • Submit estimates for every job you want to quote for at the click of a button;
  • Receive responses and communicate with Property Factors and Block Managers in one place making it easy to track progress;
  • Accept jobs and move the process forwards using Blockworx;
  • Keep Property Factors and Block Managers informed of progress – upload photographs or advise of delays or complications;
  • At the end of the job, you can seamlessly submit your invoices for payment and stay on top of when payments are received;
  • Sign up easily on the Blockworx website – coming soon. Or speak to the Property Factors or Block Managers you work with.

Not yet working with Property Factors or Block Managers?

If you are a repairs and maintenance contractor who doesn’t yet work with a Property Factor or Block Manager you can still sign up to Blockworx. Send us an email to find out more.

+ Send quotations and estimates easily and directly
+ Manage all your invoices online
+ Upload photos of your work to get paid quicker
+ Apportion payment schedules from deposit to final payment
+ Monitor work flows so you can raise invoices on time
+ View account information on your dashboard to manage

Tools on a table

Time Savings with Blockworx

Being able to communicate easily with Property Factors and Block Managers will make the process of running your business smoother and more efficient. Blockworx will save you time and effort with automated, online two way communication.

With Blockworx you will benefit from

+ Communications with Property Factors and Block Managers in one place
+ Stay on top of and track progress of tenders and invoice payments
+ View and submit tender quotes quickly and easily

If you would like to know more about how Blockworx will benefit your business, please drop us an email today.

Contactless payment

Faster Payments with Blockworx

Keeping cash flowing through your business is crucial for it’s survival. As your communications and workflows are managed by the Blockworx platform, payments should be made quicker and easier.

With Blockworx you will gain

+ Full visibility of outstanding invoices
+ Direct communication with Property Factors and Block Mangers if invoices are due or overdue
+ Automatic reminders when invoice payments are due

If you would like to know more about how Blockworx will benefit your business, please drop us an email today.

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