Pub. 5 2020 Issue 2

9 ISSUE 2 2020 Now is a great time to take a strategic look at property management trends that are expected to appear in 2020 in order to be prepared for business growth. Continued on page 10 social communities and high-tech fitness. Smart technology, using sensors and integrating artificial intelligence (AI), is having a significant impact on meeting tenant wants. Property management software Lead generation has and always will be the most crucial part of growth for any property management business. New software has created additional paths of generating property man- agement leads. Property managers need to identify the right investment for their clients and get more properties under their management. New technologies help facilitate the search and the due diligence efforts related to those properties. Generation Z is a big focus Baby Boomers have been the big influencer in the market- place for a long time, but this is changing with the aging of the millennials and Generation Z, which will grow from 8 million to more than 55 million in the U.S. workforce in the next decade. Generation Z has experienced technology their entire lives, and this means leasing and marketing campaigns must incorporate technology to reach Generation Z, where they are most active, on apps and the internet. Generation Z places a high priority on trust, equality, and more casual, personable messaging that speaks to them like a friend. Therefore, real estate businesses in the rental housing indus- try will need to use casual messaging, rather than very formal language, to reach Generation Z prospects successfully. It also is important to remember that millennials and the generations before them have become more tech-savvy, and