AI adoption promises efficiency gains in property management
Ongoing economic pressures, regulatory changes, and shifting tenant and owner expectations have tightened profit margins and created challenges for property management professionals, highlighting the need for operational efficiencies.
MRI Software, a global leader in real estate solutions and services, has released its latest Voice of the Property Manager report for the EMEA region. The findings reveal key insights that will impact the sector’s future:
- AI adoption – Over a third (37 per cent) of respondents recognise the value of AI in driving efficiency, but only 17 per cent see its potential to enhance decision-making and analytics. AI tools that drive automation and insights have evolved to provide tangible business results, and the low percentage of responses underscores the need for industry-wide dialogue on the benefits of AI for property management.
- Technology satisfaction – Property managers using up-to-date systems reported higher levels of technology satisfaction. Those who last updated their system more than six years ago were twice as likely to be “very dissatisfied” than those who had made a change within the last year. Nearly half of all respondents have changed or upgraded software systems in pursuit of greater efficiency and improved technology integration.
- Training priorities – The top training priorities for respondents were around legislation and compliance and digital transformation; however, only 19 per cent of property managers received compliance training in the past year, exposing a potential risk in an increasingly regulated environment.
Marcus Scholes, Managing Director, EMEA Commercial Property Management Solutions at MRI Software commented: “Property managers work long hours to navigate ongoing economic pressures, regulatory changes, and shifting tenant and owner expectations. AI-powered technology offers unprecedented opportunities to address these challenges through increased automation, efficiency, and insights.
“The Voice of the Property Manager survey paints a picture of a committed and resilient group of professionals who are ready to tackle the challenges ahead. While many are investing in new technology and training, there is still further opportunity for efficiency and optimisation—particularly in leveraging AI and ensuring better system integration. As the industry evolves, property managers must stay ahead of the curve to remain competitive.”
To watch the webinar recording and pre-register for the report, click here.
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