Co-living has become a lifestyle that combines private space with shared experiences and real community. Modern property management software platforms (PMS) are responsible for streamlining communication, simplifying daily tasks, and facilitating connections between residents. It’s the technology that powers today’s vibrant and connected co-living communities.
In this article, we will examine how property management software enhances co-living by fostering stronger community connections and streamlining everyday tasks. We will also share practical insights on how these tools shape the future of co-living communities.
Property Management Software as a Community Enabler
Property management software platforms manage the unique demands of co-living spaces. These platforms go far beyond rent collection. They offer tools that centralize communication, automate maintenance, and streamline onboarding.
Property management software platforms offer real-time updates, resident forums, and amenity booking features. They create smoother day-to-day operations for managers and more meaningful experiences for residents. The global PMS market, valued at $5.51 billion in 2023, is projected to grow annually by 8.9% from 2024 to 2030. This illustrates the growing importance of these systems in property management.
Image sourced from Grand View Research
PMS combines social features with operational tools to create a stronger sense of belonging in co-living communities. Ultimately, property management software platforms serve as the backbone of connected and well-run shared living environments.
Here are the various PMS features and their benefits that support the community:
- Resident Chat and Community Forums. Provide a digital space for residents to connect, share ideas, and build relationships at their own pace.
- Event Updates and RSVP Tracking. Keep residents informed and engaged with community activities to boost participation.
- Transparent Service Requests. Let tenants submit and track maintenance requests openly to build trust and ensure accountability.
- Digital Onboarding with Community Guidelines. Ensures new residents quickly understand community norms for smoother integration.
- Real-Time Shared Space Notifications. Help coordinate the use of amenities to reduce conflicts and enhance shared experiences.
Smart Ways to Maximize PMS for CoLiving Success
With the US rental vacancy rate hitting 6.9% at the end of Q4 2024, standing out in the market is more critical than ever. To get the most out of property management software platforms in co-living spaces, go beyond basic management. Use its features to build stronger communities and run operations more smoothly. With the right tools, you can enhance resident engagement, streamline maintenance, and manage shared spaces more effectively for long-term success.
Try the following to transform your PMS into a dynamic platform that fosters community, enhances resident satisfaction, and streamlines property operations in co-living environments.
Centralized Resident Communication
Use the PMS’s community feed or announcement board to share important updates and neighborhood news, so everyone stays informed in one place. By creating interest-based groups like “Fitness Enthusiasts,” you help residents connect around shared hobbies while reducing irrelevant noise.
Pro Tip:
Run weekly polls via the PMS to decide on new event themes, so residents feel involved and heard.
Streamline Maintenance Requests
Enable residents to submit detailed maintenance requests, along with photos or videos, through standardized digital forms. This reduces miscommunication and speeds up repairs. You can also build trust by using automated status notifications to keep residents updated from request submission to completion.
Pro Tip:
If a resident reports a leaking faucet, you can track the repair progress in real time with no follow-up calls needed. This improves their experience and team efficiency.
Automate Onboarding Processes
Send new residents automated welcome packets with essential information like move-in instructions and community guidelines. You can deliver this through property management software platforms before arrival. Iou can also integrate digital lease signing and require acknowledgment of house rules to set clear expectations smoothly.
Pro Tip:
For newcomers, you can schedule orientation tours via the PMS calendar for easy transition and early engagement.
Encourage Event Participation
Highlight upcoming events on an interactive calendar with simple RSVP options and automated reminders to increase turnout. To boost engagement, focus on the tasks you should be automating, like sending reminders and tracking RSVPs. Also, allow residents to propose and organize their events to encourage community-driven activities.
Pro Tip:
If you just ran a recent movie night, residents can upload photos to the PMS. This can build anticipation for upcoming events and deepen social connections.
Monitor Shared Space Usage
Provide real-time online booking for amenities like gyms and coworking spaces to avoid conflicts and improve access. Use PMS analytics to track peak usage and inform maintenance or expansion decisions.
Pro Tip:
Data may show the media room is busiest on weekend nights. This can lead to longer hours or new equipment to meet demand.
Focus on Building Community, Not Just Messaging with PMS
Build a real community and not just a messaging system through property management software platforms. PMS brings all communication together, handles routine tasks automatically, and gives you more time to engage with residents. Property managers can maximize efficiency with features like rent collection, integration, and chat tools to simplify operations and boost satisfaction.
With co-living, it’s more than convenience, it’s connection. Use PMS to create vibrant and lasting co-living communities that people want to be part of. Don’t just pick software for today’s needs; choose a platform that supports long-term growth and a strong community experience. Remember, the right PMS makes it easier to manage properties while creating meaningful and shared living experiences for your residents.
