PropTech- Revolutionizing Financial Technology
As the world becomes more technologically advanced and dependent, all sectors of life need to keep up from housing, parking, phones, vehicles, and more. One of the more well used technologies is known as PropTech. PropTech has its origins in the real estate sector and is used as an information technology platform encompassing any application or use of technology in the real estate sector. This includes smart or digital parking applications.
Although historically the real estate industry has been hesitant to embrace technology, the adoption of smart or digital technologies has been increasing especially with the modern home or residential property. This has led to a growth of the use of proptech as areas move in a more technologically advanced direction.
History of PropTech in the Real Estate Industry
The use of technology in the real estate industry began in the 1980s when personal computers became more common. This is in part to the spreadsheets and accounting software that was being used by real estate companies when it first was introduced. There were further advancements with investment analytics that allowed for investors to assess the value of commercial real estate by using a larger basis of information thanks to technology. Then once the internet began to take off, consumers were able to be targeted. Instead of printing with newspapers or on posters for real estate, real estate companies could directly target consumers who are looking for properties or places to rent by having a dedicated website of properties.
As availability of high-speed internet became more commonplace, as well as the use of mobile devices where consumers are constantly connected to a digital platform, real estate companies and businesses began to focus on moving things onto a digital platform. This also includes all services and amenities. To add convenience and overall satisfaction for homeowners and renters alike, things like payments for rent or housing and even parking were moved to a digital database such as a website or mobile application.
The current growth of proptech is driven by a wide range of new technologies that are available like AI and Big Data. The application of new technology is shaped further by social distancing requirements and regional lockdowns that had arisen from the past pandemic over the past few years. Even after the lockdowns and restrictions have been lifted, the use of the new technologies have stuck around and continue to be developed to be even more convenient for everyone involved.
Proptech and Digital Parking
The use of digital smart parking for employees and retail establishments has increased substantially over the past few years. Now residential areas are starting to look at more ways to attract tenants and future investors for properties by using smart parking technology. There is a wide range of applications for residential areas such as private Homeowner Associations, condominiums, apartment complexes, and more. The use of digital parking software adds a sense of sophistication and convenience especially for those in high traffic areas where parking can be a struggle like in a city or busy town.
These digital parking management systems include 24/7 customer support, the ability to register vehicles for permits and access, as well as an excellent tool for landlords and property owners to control and monitor the flow of traffic in and out of their properties. These systems use a wide range of technologies that are different for each property or space based on goals, traffic, and budget. These technologies can include cameras, sensors, license plate readers, signage, lighting, and more. Smart parking technology communicates directly with a mobile cloud-based application that tracks and monitors parking in defined spaces. Newer systems are also able to communicate with towing services and law enforcement, as well as providing an excellent resource for insurance companies and investigations for property damage or theft. With use of cameras and sensors, as well as the use of a system to control traffic in and out on the property, the overall sense of security and safety is increased greatly thanks to PropTech software and Parking Management Software.
ParkingBadge Parking Software for Proptech
With the rise of technology occurring in the daily lives of the modern driver, there are several different parking software companies available. ParkingBadge is a state-of-the-art system that is operated by knowledgeable staff that can fully customize a digital parking space to increase the use of technology on any type of property from businesses to residential. The understanding that there are no one-size fits all property parking applications means that ParkingBadge understands that minor customizations are almost always a must, so it should come as no surprise that ParkingBadge’s extremely flexible parking management software is able to be used in just about any parking application; no matter the size or location. With the modern driver in mind, ParkingBadge is available through a mobile application that is available currently on iOS Apple devices with an Android parking management app launching very soon.
Interested in finding out more information about PakringBadge’s innovative parking management and parking enforcement software? Please visit- https://parkingbadge.com/pricing
