The Future of Property Management: Tech, Laws & Renters in 2030

Property management is changing fast. New technology keeps popping up, and regulations shift every year. The people renting your units want different things than they did five years ago. 

If you own or manage rentals, you must plan ahead for any future changes in the market. The good news? You don’t have to do everything at once. But you do need to start moving. 

This article covers what you need to know about managing rental properties in 2030. As a landlord or property manager, discover what trends in technology, laws, and renters to watch out for and keep up with in the next few years.

New Tech Coming to Properties

In the next few years, expect more and more technological adoption in the real estate industry, even in the rental business. 

In fact, the property technology (PropTech) market continues to rise every year. Its worldwide market could grow from $47.08 billion this year to $98.88 billion by 2030 at a 16% compound annual growth rate (CAGR).

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To prep your rental business for long-term success in 2030, here are the tools and technologies to invest in as early as now:

• Smart home features:  Remember when smart locks seemed fancy? Not anymore. These days, tenants expect them. Smart locks save you from dealing with lost keys, smart thermostats cut energy bills, and leak sensors catch problems early.
  
• Smart property management: Software like RentRedi’s property management platform help sort through applicants, verify tenant information, and organize maintenance requests. Automated rent collection and tenant screening save time and reduce mistakes.

• AI tools: Artificial intelligence (AI) won’t replace property managers, but it will help estimate fair rents, analyze property market trends, and provide state-specific investing insights. 

• Virtual tours: Virtual reality (VR) and augmented reality (AR) let people tour properties whenever they want, which means you get more interested renters faster. For your team, this means less time spent on showings on less engaged applicants and more interested prospects actually touring in person.

Anna Zhang, Head of Marketing at U7BUY, suggests keeping up with digital tools and modern technologies regardless of your industry. In fact, their company offers AI tools that can be very useful for various sectors, including real estate.

Zhang says, “AI is changing how every industry operates, and real estate is no exception. The property managers who learn to use automation and smart tools now will be the ones running more efficient, profitable portfolios by 2030.”

New Rules Coming Your Way

It’s also vital to keep up with the laws and regulations governing the real estate industry. 100% legal and regulatory compliance ensures your rental business remains sustainable and profitable in 2030—and beyond.

That said, here are the rules in the rental market you have to come prepared for:

• Green building requirements: Cities and states continue to add or change environmental regulations. Energy benchmarks, emissions caps, building performance standards…They’re spreading fast. NYC’s Local Law 97 is probably the biggest example, setting strict emissions limits that will kick in before 2030.

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If you manage apartments, check out federal and state programs that help pay for upgrades. The Department of Energy offers rebate programs, and many states provide their own incentives for items such as heat pumps and insulation. You can use ENERGY STAR Portfolio Manager to see how your buildings stack up before deciding what to fix first.

• Rent control: The states of Oregon, California, Maine, Maryland, Minnesota, New Jersey, New York, and Washington D.C. already have rent control policies in place. These policies enforced limits on rents and rent increases as mandated by the government. They seek to effectively manage rental communities for their immediate residents. 

If rent control hits your area, you’ll need to change tactics. Focus on keeping costs down, plan capital improvements carefully, and work harder to keep good tenants. When you can’t raise rents much, keeping tenants happy becomes even more essential.

• Privacy laws: Think about all the personal info you collect: Social Security numbers, pay stubs, emergency contacts, maybe even data from smart locks. Privacy laws in certain states, such as California, Colorado, and Virginia, are getting stricter and stricter. They have new rules about notices, consent, and data access, among others.

Here’s what to do: figure out what data you collect, keep only what you need, encrypt everything, limit who can access it, and delete old records on schedule. If you’re using smart home devices, follow security guidelines and keep them updated.

Learn from Emily Ruby, owner of Abogada De Lesiones. She strongly recommends familiarizing yourself with the federal/state laws and local regulations in real estate. She claims legal adherence helps you avoid legal and financial consequences now and in the future.

Ruby explains, “Staying compliant isn’t just about avoiding fines; It’s about protecting your business and your tenants. When you understand the laws and keep your processes transparent, you build trust and long-term stability in your rental operations. That’s how you keep your rental business thriving in 2030 and beyond.”

Who’s Renting These Days

Finally, it’s crucial to examine who your future tenants will be and how you can meet their needs. The goal here is to offer platinum-level tenant support so you can boost both their retention and your profitability.

• Older renters: The Census Bureau says the 65+ population will nearly double by 2050. That’s a lot of people who’ll need accessible rentals. Basic upgrades work for everyone: lever door handles instead of knobs, better lighting, walk-in showers, and no-step entries. Young families with strollers appreciate these features just as much as seniors do.

• Younger renters: According to the American Community Survey data conducted by the U.S. Census Bureau,over 35% of tenants are under 35 years old. Apparently, Millennials and Gen Z renters grew up with online access. They want to apply, pay rent, and request maintenance through apps like RentRedi’s tenant app. They expect fast Wi-Fi, spaces to work from home, and quick responses to messages.

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Adrian Iorga, Founder and President at 617 Boston Movers, stresses the importance of understanding the future market in the rental business. Having worked with various clients in Boston who’ve moved to new rental places, their moving company also performs due diligence to see who their future clients might be.

Iorga shares, “Knowing who your renters are and who they’ll be gives you a real edge. We’ve seen that landlords who adapt to younger, tech-savvy tenants and more diverse households fill vacancies faster and keep tenants longer. In this market, understanding your renters gives you a competitive advantage.”

Future-Proofing Your Rental Properties Today

At this point, you now have an idea of what tools and technologies, laws and regulations, and types of renters to strategize for in 2030. However, the biggest question is: 

How can you prepare your rental property business for what lies ahead?

As a landlord or property manager, here are 3 things you can start doing today:

1. Use tech that works

Technology only works if it actually makes your job easier. Before investing in shiny new tools, focus on solutions that simplify daily operations, from tracking maintenance to managing leases.  That said, here are some tools you might want to invest in for future property management:

• Property management dashboard — Review tenant reports in seconds and rent with confidence.
• Smart maintenance request software — Tenants send photos or videos, and you handle repairs with zero hassle.
• Smart rent collection platform — Automate payments and track deposits instantly…no more chasing checks!
• Mobile tenant app — Stay connected with tenants occupying different properties  anytime, anywhere.
• Smart portfolio insights tool  — Get real-time data to cut turnover and boost rental returns.

It’s best, however, to have a unified platform for handling various functions of property management in one place. Take RentRedi’s robust platform, for instance: As a landlord or property manager, this tool enables you to list properties, screen tenants, sign leases, communicate with renters, and collect mobile rent payments—all in one place!

So, start with tools that solve real problems:

• Smart locks that connect to your management software
• Online applications and rent payments
• An app where tenants can submit maintenance requests
• Virtual tours for your listings

Test things out in one building first. See what works. Properties with smart thermostats usually report lower utility bills and fewer emergency calls. Virtual tours bring in better leads. Pick software that’s easy to use and has good support. Otherwise, your team won’t use it!

2. Always stay legal

Legal compliance might not be the most exciting part of property management, but it’s what keeps your business safe and sustainable. However, it’s imperative to understand the legal aspects of property management. Staying proactive helps you avoid fines, lawsuits, and last-minute chaos when new rules take effect.

As laws change faster than most people update their leases, stay ahead by:

• Joining your local apartment association for updates
• Reviewing policies and leases every year
• Having a lawyer you can call quickly
• Training staff on privacy and fair housing
• Tracking your energy use before it’s required

Learn from Jeffrey Zhou, CEO and Founder of Fig Loans. He promotes legal and regulatory compliance across all industries, whether in finance or real estate. However, he suggests staying up-to-date with the changing laws and regulations.

Zhou cites, “Getting ahead of new rules always costs less than scrambling to comply at the last minute. If you operate in multiple states, stick to the strictest standards to keep things simple and consistent. Ultimately, compliance isn’t just protection; it’s smart business for the long term.”

3. Listen to your tenants

Your tenants are your best source of insight into what works and what doesn’t. Listening to them helps you spot small issues before they become big problems and shows that you value their experience. The more open you are with your tenant communication, the easier it is to build trust and long-term loyalty.

Don’t guess what renters want, ask them. Here’s how:

• Send short surveys after move-in, after repairs, and before renewal time. 
• Ask about specific things you can actually change: office hours, package delivery, parking, whatever. 
• Update residents on what you changed based on their feedback. 

Take it from Leigh McKenzie, Community Advocate at Traffic Think Tank. He believes that understanding and meeting customers needs help make your company profitable and sustainable. The same idea applies to rental businesses in the real estate industry.

McKenzie explains, “Listening isn’t just good manners, it’s about promoting good business as well. When you understand what your customers need and act on it, you build loyalty that drives long-term profitability.”

He adds, “The same principle applies to property management. Happy tenants are your best assets, so listen to them and honor what they need. That’s what it takes to ensure your rental business thrives and survives in the long run!”

Wrapping Up

Rental properties that do well through 2030 will nail three things: 

• Smart use of tools and technologies: Tech should make life easier for everyone, not complicate it.

• Staying ahead of laws and regulations: New rules on environment and privacy are coming regardless, so start preparing now. 

• Serving renters with changing needs: Renters who are younger, older, and more diverse all want homes that work for their lives.
  

You can’t predict everything that’s coming. But you can build habits of trying new things, measuring results, and adjusting as you go. Start small and keep improving. 

To stay on top of your property management functions, RentRedi was created for landlords and property managers who want to get paid on time, attract great tenants, and grow their rental business with ease. To get started, book a live demo today!