Rental property management is a safe and profitable investment for many people. Nonetheless, managing a rental property effectively and efficiently can sometimes be challenging. But it's also one of the fundamental steps to achieving success in an ever-crowded, demanding sector like housing and real estate.
Ensuring that your property is well maintained, your tenants pay their rent promptly, and any issues (whether big or small) are handled swiftly and professionally can become stressful and overwhelming for a property manager. As a result, you may sometimes feel like you are no longer delivering your tenants the personal, thoughtful attention and service that they expect, which can negatively affect your rental business.
One of the best ways to solve this problem is with digital tools that can help you accomplish your daily tasks. Read on to learn more about the benefits of property management automation.
When we talk about “property management automation,” we're referring to the technology tools that can assist a property manager with their daily tasks, enabling them to run their business more successfully without having to rely on manual input. These tech tools include apps, software, and property management platforms that can boost your property management workflow automation.
However, it's important to remember that property management automation does not necessarily mean that you can or should automate each and every one of your business operations. Nor does it mean that you no longer have to employ staff to support your rental business.
It simply means that you can choose which tasks to automate and expedite to free up more time and resources to devote to other aspects of your business that matter more to you and your tenants.
The following are some of the most remarkable benefits that come with using property management automation:
Most property managers who already use some property management automation software are probably focused on aspects like property management payment automation and automated tenant screening. While these are certainly crucial tasks when running a property management business, it’s also important to note that there are many other advanced automation features that are worth exploring and using as part of automated property management processes.
Below are four of the most interesting ones to keep in mind as you consider property management automation for your business.
Whether you manage one rental property or several in different areas or cities, it’s vital to keep track of all assets for each property.
Historically, an industry expert did asset and inventory tracking manually, resulting in time-consuming and sometimes error-prone analyses. By automating this task with property management software, you can ensure that every single asset in your rental property portfolio is accounted for in the most accurate, up-to-date, and verifiable way.
Regardless of how new or luxurious a property is, no rental property is immune from some degree of maintenance issues, whether they be big or small. So ensuring that all types of repairs are categorized and prioritized correctly and managing them quickly and efficiently is another big challenge property managers often face.
That's why automating these tasks should be an easy decision. Using property management automation tools, property managers can enjoy an accurate, real-time view of all maintenance requests for all their properties, review them, and act on them promptly.
In some cases, tenants can also access some of these tools' features, empowering them to contribute to the upkeep of their rental and take action more quickly whenever help from the property manager is needed.
One of the most important but also time-consuming tasks of a property manager is dealing with external vendors and suppliers. So imagine the many benefits of being able to automate this aspect of your property management business. With a property management automation solution, you can improve communications with vendors, enhance supply chain operations, and boost overall efficiency.
When a rental property is vacated, the property manager has a critical task to accomplish: ensuring the property is cleaned to a high standard to prepare it for upcoming viewings and future tenants.
With the global pandemic putting even more pressure on property managers to not only clean but also sanitize their rentals, unit turnover cleanings can pose a significant challenge if they continue to be handled as they were prior to 2020.
Using property management automation software can help, allowing property managers to use technology to automate some of the most essential cleaning and sanitation practices, including air purification, touchless doors and buttons, and disinfectant sprays.
Managing one or multiple properties can be incredibly rewarding, but also challenging and demanding, especially if you are still relying on manual, traditional ways of operating your rental business.
That's where property management automation tools and software come into play. These tools help property managers like you stay abreast of everything — from repairs to maintenance requests, from screening to inventory and vendor communication — at the touch of a button and with very minimal effort. This is a far cry from the hours or days you might have spent on similar tasks pre-automation.
TIDY's property management automation software is powered by artificial intelligence and can help you reap some incredible results. Get started here today.
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