The proptech market is experiencing explosive growth, reaching $40.58 billion in 2024, and is expected to hit $179.03 billion by 2034.*
What’s driving this phenomenal expansion? The answer lies in the power of new technologies.
From AI and automation to smart tech, predictive analysis, and 3D tours, this article dives into six key proptech trends disrupting the multifamily, serviced living, and short-term rental sectors—and revolutionizing property management.
Are you a proptech startup looking to build your brand’s reputation through strategic PR? Drop us a line.
6 proptech trends disrupting the multifamily, serviced living, and short-term rental sectors
Like hotel technology trends, tech is defining the property management space. Innovative technology is reshaping the industry, providing enhanced efficiency and customer experiences through increased automation.
Below, we explore six key trends driving this transformation, starting with how AI is increasing automation in property management.
1. AI enhances automation in all areas of property management
AI in property management is growing, with its market value forecast at $159 billion by 2033. And hospitality leaders are expecting its impact within the industry to increase. So it’s no surprise that AI is allowing for more extensive automation of property management tasks than ever before.
From initial prospect engagement and ongoing resident support to task management and property maintenance, AI allows proptech to streamline time-consuming, routine tasks without compromising the customer experience. When implemented thoughtfully, automation means property management companies can increase efficiency, reduce operational costs (while increasing margins), and improve experiences.
While automating tasks was a key growth strategy for vacation rental operators in 2023, only 10% of proptech companies provide AI-powered solutions. This reveals opportunities for investment to meet the growing demand in property management. Here are some winning ideas from property tech firms paving the way for AI and automation:
AI-powered tools for short-term rentals
- Boom. As ‘the world’s first AiPMS‘ (Artificial Intelligence Property Management System), Boom uses AI to automate guest communications, optimize property listings, and enhance direct booking strategies, helping operators streamline operations and boost revenue.
- Beyond. With AI-powered pricing that continuously learns and adapts rates, Beyond is helping short-term rentals automate thousands of updates annually and improve revenue performance.
- Akia. Vacation rentals can use Akia to automate the guest journey by offering self-service activities, such as contactless check-in service, automated rental agreement e-signing, and door code delivery.
Automated solutions for multifamily properties
- Hyly.ai. Multifamily properties can use Hyly.ai’s AI-powered platform to cover 20+ experiences across the entire customer asset lifecycle, from attracting leads to managing renewals.
- BetterBot. This automated leasing assistant can answer questions and schedule tours 24/7, helping to capture more leads.
- EliseAI. Multifamily properties can automate communications, operations, and various interactions throughout the rental lifecycle, from initial lead to lease renewal, with EliseAI’s all-in-one AI assistant and customer relations management (CRM) system.
AI-driven insights for purpose-built student accommodation (PBSA)
- Fyma. PBSAs can improve student accommodation based on smart insights with Fyma‘s advanced AI-powered computer vision. Developers can see how students use social or study areas so they can repurpose spaces to match actual needs.
2. Customer experience takes center stage
The global customer experience market is growing at an annual rate of 15%. This is true even in the property management sector, where the need to attract and retain guests and residents in a competitive market is driving customer experience solutions.
But without the right tech, it’s hard to satisfy customers. Renters and residents alike are increasingly expecting more modern, convenient, and connected living experiences. According to a recent Rent.com survey, 82% of renters want at least one smart tech device in their home.
Here are some trendsetting proptech companies that are helping to enhance the guest and resident experience:
Guest experience tools for short-term rentals
- Hostaway. All-in-one property management systems (PMSs) like Hostaway help improve the guest experience with a dedicated guest portal and self-service features, like contactless check-in, door-code delivery, and add-on purchases.
- Duve. With Duve, short-term rentals can offer tailored upsells based on guest preferences, personalizing the experience.
- Touch Stay. Digital guidebooks created with TouchStay replace traditional paper guidebooks and cumbersome PDFs so guests can have the information they need at their fingertips anytime, anywhere.
- Hospitable. Vacation rentals can personalize automated communication with Hospitable, allowing for more tailored responses while addressing specific guest needs and queries.
Resident experience solutions for multifamily properties
- ElevateOS. Branded resident apps like ElevateOS consolidate multiple services into one platform. This eliminates multiple apps to book services or manage living spaces, reducing a resident’s app fatigue.
- Opiniion. Property managers can improve the resident experience with Opiniion‘s resident satisfaction software. The platform gathers feedback throughout the entire resident lifecycle, providing a big-picture view of the living experience.
Community building tech for serviced-living
- Spaceflow. With an 84% adoption rate, Spaceflow‘s all-in-one resident app acts as a digital hub for community interaction in serviced living properties. It facilitates communication, engagement, and access to building services.
3. Smart home technology becomes commonplace
More people are using smart home technology than ever. Over 69% of households are currently using smart tech and approximately 92% are expected to use smart tech in their homes by 2029.
This trend responds to a growing demand for convenience, efficiency, and security in the multifamily, serviced-living, and short-term rental markets.
Smart home technology encompasses a variety of tools and systems designed to enhance the living experience:
Short-term rental smart tech
- Operto. Offering convenience and enhanced security through digital access codes and mobile keys, Operto eliminates the need for physical keys or key cards, which can be lost or stolen.
- Jurny. Short-term rentals can have a central control system with Jurny that helps manage room locks, noise, and more to enhance the guest experience and ensure safety.
- Lynx. With Lynx‘s smart device management, guests can enjoy smart entertainment, such as streaming apps and one-click Wi-Fi connectivity.
Multifamily smart home tech
- PointCentral. Residents can identify visitors before granting them access and managers can monitor properties remotely with PointCentral‘s video doorbells. It also offers noise monitoring technology to measure decibel levels and address noise issues proactively.
- Brilliant. The smart home solution, Brilliant, offers an all-in-one resident app. It allows tenants to control lighting, music, window shades, and other smart devices with a touch.
4. Sustainability is top-of-mind
Sustainable tech and energy-efficient tools reduce environmental impact and costs, conserve resources, and promote energy efficiency within the property management sector. These tools and technologies respond to a growing market demand for environmentally responsible and cost-effective property management and operations.
Sustainable and energy efficiency tools include:
Sustainable solutions for short-term rentals
- Modo. With Modo‘s smart remote control, short-term rentals can automatically limit temperature settings and switch off air conditioning when guests (and property managers) are out, preventing energy waste in unoccupied spaces.
- PointCentral. Also an energy-efficiency solution, PointCentral integrates with smart thermostats to schedule energy use. Its proactive HVAC analytics and alerts enable property managers to spot and fix potential issues before they become costly repairs.
- Minut. An indoor climate monitoring system, Minut offers tracking tools to manage temperature and humidity in rental properties. Its real-time data helps reduce energy consumption and prevent damage while optimizing guest comfort.
Energy efficient tools for multifamily properties
- Evolve Technologies. When residents let the shower run waiting for warm water, Evolve Technologies steps in. Its smart shower valve automatically slows the flow to signal when the water is ready, reducing waste and energy.
- Ivy Energy. Monthly energy statements are simple with Ivy Energy. Its virtual grid software works with different utility rate schedules and building meters to create detailed billing automatically, helping tenants easily see the impact of their sustainability efforts.
5. 3D touring becomes widely available
Three-dimensional virtual tours of properties, also known as 3D touring, allow prospective tenants or buyers to explore a property remotely, but as if they were physically present.
As the highest contributor to the virtual tour market in 2023, 3D touring technology responds to various needs. This includes enhanced marketing and lead conversion, improved decision-making by prospects, cost and time efficiency, and reduced need for on-site tours.
3D touring helps property management companies find engaging, convenient, and efficient ways to market, lease, and sell properties, benefiting property managers and prospective tenants or buyers.
Multifamily and serviced-living 3D touring solutions
- Matterport. The 3D capture platform Matterport provides immersive, informative virtual open houses 24/7. This allows potential buyers or renters to explore properties from any device, anytime, widening the pool of potential tenants.
- Peek. With Peek, managers can offer self-guided 3D tours with an interactive AI assistant that can respond to questions in real time, improving conversion rates. This makes viewings less stressful for prospective tenants and saves property managers time.
6. Predictive real estate analytics changes the game
With the predictive analytics market forecasted to grow 24% between 2025 and 2030, proptechs are tapping into its power.
Combining historical and current data, this technology enables a proactive approach, empowering property managers and investors to make informed decisions about pricing strategies, investments, and operations, rather than reacting to market changes.
Here are some prime examples of how proptech startups are using predictive analytics in real estate:
Predictive analytics for short-term rentals
- Key Data. Combining rental data from online travel agencies (OTAs) with reservation data from 60+ PMS, Key Data can offer more accurate competitive benchmarking of over 700,000 properties globally.
- AirDNA. With AirDNA, property management companies can explore, analyze, and identify the best opportunities in real estate. AirDNA offers specific investment tools, like Rentalizer, which estimates property revenue based on real-time market conditions.
- Lighthouse. Like AirDNA and Key Data, Lighthouse tracks rental-listing data across OTAs. But it adds private data feeds to offer actionable insights on market dynamics, enhancing decision-making on investment, pricing, and operations.
Predictive analytics for multifamily and PBSA
- Markerr. Tools like Markerr provide automated market analysis and rent forecasting, enabling property managers to quickly assess potential investments.
- RealPage. An asset-optimization tool designed for student housing, RealPage combines business intelligence, market analytics, and revenue management for more precise insights into a sector with unique occupancy goals, leasing cycles, and dynamics.
How proptech companies can take advantage of 2025 trends with Abode
It’s clear the trends outlined above are great opportunities for proptech companies across the short-term rental, multifamily, and serviced-living sectors. But it’s difficult for proptech businesses to gain recognition, expand their customer base, and outpace their competition on their own in a crowded market. Abode Worldwide can help.
As a PR agency specializing in proptech, our laser focus on the industry allows us to have a big-picture view of how proptech companies can position themselves within a highly competitive landscape.
Our services extend beyond traditional proptech PR. We act as strategic advisors to define brand messaging, build authority, and establish credibility on a global scale. Whether your goal is to enter new markets, make strategic alliances, or prepare for an IPO, Abode’s expertise can help you navigate these challenges.
Abode can help both startups and established proptech companies to identify opportunities to stand out in a market where it’s easy to be overlooked.
Are you a proptech startup looking to build your brand’s reputation through strategic PR? Drop us a line.
*https://www.precedenceresearch.com/proptech-market
