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“Partnering with Property Vista was the right decision. I would recommend anyone in the multi-residential space that is looking to become more efficient in their administrative capabilities to give them a try. The time saved can lead to an exponential return of investment if you utilize it properly.”
Operating in Toronto and the Greater Toronto Area, Compten Management is a professional property management firm specialized in multi-residential dwellings. With a history dating back more than 35 years, Compten manages over 2300 units. The company also works in both the commercial and industrial sectors. Property management tends to be both complex and time-consuming, with mountains of paperwork and an endless deluge of administrative tasks. Compten was no exception to this rule — but it wanted to be. Seeking to provide residents with a better experience and reduce unnecessary manual work, Compten deployed Property Vista's all-in-one property management platform.
Rent management and collection represented Compten's greatest internal pain point by far. Residents were typically required to pay via a cheque delivered to their site manager. The manager then had to record each check on a per-suite basis and communicate payments to Compten's head office, which then logged the payment.
"The process took an extraordinary amount of time," explains Daniel Greenberg, Vice President of Compten Management. "We started looking for a solution to take the process of rent collection, documentation, and logging, online. By making the process digital, it would not only be immediate, but also more transparent and convenient for residents.”
Where rent is concerned, lease applications were also an issue. Compten's original process was both tedious and time-consuming, requiring both parties to fill out extensive paperwork which then had to be manually signed, processed, and submitted. Given the number of applications the company might receive for even a single property, this was a significant bottleneck, and one that had a clear negative effect on resident experience.
"As with rent management, we began looking for a solution that would allow us to make our lease applications more digital," Greenberg continues. "We wanted to allow residents to tackle things at their convenience. And once a renter was approved, we wanted to provide them with their signed lease agreement immediately."
Both of these challenges ultimately fed into one overarching issue — communication. Traditionally, Compten kept in contact with its residents through a combination of paper letters, bulletin boards, and the occasional email. Though this approach worked well enough to distribute messages to Compten's buildings, it was cumbersome and also largely one-way.
"We wanted to provide a better experience for our residents where shut-down notices and other announcements were concerned," says Greenberg. "Providing better, faster, real-time communication would also allow us to answer questions, respond to inquiries, and manage maintenance requests for a better tenant experience."
“Since deployment, we've maintained a phenomenal relationship with their team... Their support on an ongoing basis has been amazing. Whatever we need, they're always there to help — to answer a question about a new feature, reconfigure something, fix a bug, or even provide additional training.”
After researching several property management solutions, Compten eventually discovered Property Vista. The company was almost immediately impressed with our platform's design and intuitive interface.
The onboarding process was both smooth and efficient. The Property Vista team was able to walk Compten Management seamlessly through any complications that arose. The onboarding team were hands-off when they needed to be, but also made sure to always be available to answer questions or address concerns.
Compten Management’s partnership with Property Vista has completely transformed the company's internal processes, driving new levels of efficiency. As an industry-leader in the Canadian property management space, this has freed up more resources for the company to continue delivering a high-level tenant experience.
Today, the company is more efficient with its maintenance requests and more effective in its communications with residents. The company has also significantly improved workflows and processes around lease applications and general administration. Finally, through Property Vista, Compten was able to implement a virtual purchase order system — something it did not have prior to adopting the platform.
Greenberg estimates that the total efficiency gains have allowed the company to reduce its monthly expenses by 40%. In his mind, however, the most significant return from Property Vista is time.
"Before Property Vista, we lived in a world that was very much governed by paper and typical industry standards," says Greenberg. "Since deployment, we have modernized, digitized and streamlined our old cumbersome processes and workflows. Something that may once have taken us an hour or more now only requires five to ten minutes."
"We're no longer wasting time on tasks that just require vetting, which has allowed us to grow our business and build on our strengths," he continues. "We now manage everything online, provide better experiences to our tenants and prospects, and take our business to a much more efficient level."
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Reduced monthly expenses by 40%
Retired paper-based processes to save time and costs
Implemented a digital purchase order system
Enhanced data accuracy, financial control, and vendor relationships
Turbocharged efficiency
Successfully modernized and digitized old cumbersome processes and workflows
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