The property management business is definitely a reward career but there can be days where the stress levels are dialed up to 11. Let’s face it, there are vacancies to fill, leads to follow up, move-ins and move-outs, rent to be collected, inspections and maintenance to be done… and the list goes on and on. However, rental property management software can help calm the chaos. Rental property software gives you with essential tools to manage all tasks more efficiently.
Here are a few practical tips to make running a rental property management business without all the stress.
Automate Your Leasing Cycle
From finding suitable tenants, to processing applications and managing leases, the leasing cycle takes a large percentage of a property manager’s time. And, ensuring you have high quality tenants can be stressful.
Automating the leasing cycle keeps your company ahead of the curve, puts a stop to time-consuming paperwork and, ultimately, puts you ahead of the competition. Use property management software that facilitates 24/7 lead nurturing, by automating your property listings and allowing prospective tenants to make an inquiry as well as view the property rental description, get neighborhood info and arrange a showing.
Next, with a fully automated leasing solution, you can automatically capture all required information, and ensure run consistent, automated credit checks. Analyze all applicants, co-applicants and guarantors using pre-defined criteria to make confident leasing decisions in a matter of seconds.
Through an integrated CRM you can port all tenant data into guest cards, leasing forms and welcome letters, saving hours. You can automate lease renewal reminder letters at the appropriate times.
Get Out of the Cheque Chasing Business
If you are still accepting cheques, it’s time to shift your tenants over to paying online. There’s never been a more important time to switch over. It’s easier for them, and it’s a heck of a lot easier for you. And, if you don’t, you risk looking out of step with the times. The tenant can select from several alternative ways to pay, including credit cards and direct banking.
Your renters can access the payment portal through their smartphone, tablet or computer and log in to conveniently self-manage the safe and secure electronic payment method. These automatic payments also relieve the burden on property managers to process and chase cheques, lowering operational costs and increasing efficiency. In short, it means the rent is in the bank, and you didn’t have to lift a finger.
Get Decision-Making Information Faster
When you use rental property management software, you gain access to real-time data about all your properties – information that is current, comprehensive and consolidated. Without this access, property managers have to sift through data that is often isolated on desktops or spread across various platforms. Instead, property professionals can quickly and effortlessly access everything they want through one powerful tool. That is hours saved every week.
This centralized repository of information enables executives and managers to move beyond the daily grind and concentrate on growth and revenue. They’re also able to get a clear picture of their business – all in real time. They can review and measure performance by building, by building manager or by region, giving them powerful decision-making insights that enable them to make the right choices to improve their operations, marketing and finances.
Let Property Vista Help You
At Property Vista, we provide both the technology you need to better understand your business and the tools needed to make changes. Our solutions come in a modular format, allowing you to choose the services you need, when you need them. If you are looking to improve automation across your property management business, check out our pricing here and contact us for a demo.
