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Research - MARCH 12, 2021

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COVID-19 encourages adoption of multifamily proptech

by Loretta Clodfelter

The COVID-19 pandemic has encouraged the increased adoption of technology in the apartment sector, as property owners looked to provide safe and healthy alternatives for tenants.

According to Georgianna W. Oliver, founder and CEO of Tour24, a proptech firm focused on multifamily sector, the latest trends in multifamily proptech “are focused on streamlining the rental process.” Such developments include smart devices, such as smart locks, to streamline the access for contactless leasing; self-guided tours, so consumers can find homes on their own time; artificial intelligence to respond to real-time consumer needs, including answering questions about a community; more secure future renter identification and real-time verification methods; and financial flexibility for renters who may need help with deposit payments.

Oliver noted the pandemic accelerated the adoption of

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