Becoming a property manager is not a simple endeavor, but it can be made a whole lot easier by using the tools that are (literally) at your finger tips. There are all kinds of digital residential property management platforms that allow you to compile all kinds of information and complete all sorts of tasks with just a few clicks of a button. Along with expert advice from your property management consultants, these tools can help you grow your business and better manage the properties in your care.
- Online application tool
Property managers often post listings online — we are living in the digital age after all. But it’s a bit archaic to ask prospective tenants to call or fill out a physical form if they’re interested in living in one of your properties. Considering tenants are already visiting websites to check out listings, you can convert visitors into leads more effectively if you offer an online application system. You and your applicants will save a lot of time on the entire process, which translates into increased satisfaction and efficiency throughout your operation.
- Automated credit check
Your property management consultants will tell you that performing credit checks consistently can help weed out unqualified tenants. But automating this process can make your operations speedier and more accurate overall. Credit checks can then be performed consistently without cutting into your other tasks, allowing you to approve would-be tenants more quickly and ensure candidates are of high quality.
- Online maintenance portal
Long gone are the days of maintenance sign-up sheets. Even if you’re working for a typical residential property investor (who, on average, owns fewer than five properties), there are likely still a lot of tenants — and maintenance requests — to keep track of. Sometimes, knowing how to grow your property management business starts with ensuring current tenants are happy and that properties are in excellent working order. An online maintenance portal lets tenants to submit maintenance requests through a digital platform, allowing managers to track work progress and identify properties that may need extra attention. It ensures nothing falls through the cracks and can even help you avoid legal complications down the line.
- Digital payment platform
If you allow tenants to apply for housing and submit maintenance requests online, they should also be able to pay their rent each month through digital means. After all, if they can pay for their electricity, cable, internet, and other services online, why should rent payments be any different? Not only is it a great way to embrace sustainable practices, but you’ll also speed up rent payments and allow for better financial tracking. You can also offer more payment options to your tenants, which can improve satisfaction for both parties.
- Document management system
As property management consultants know all too well, property managers need to keep on top of their paperwork. They also need to always be aware of Fair Housing laws and follow them at all times. Losing track of important documents can be a downfall of many a manager. But having an online document management program can allow you to keep all of your important files — like leases, move-out checklists, eviction notices, late rent payment notices, and other communications — in one place. There are plenty of programs that offer digital archiving, too.
When managers use these kinds of digital tools and work with property management consultants, they’ll be in a better position to grow their business, ensure compliance, and improve tenant satisfaction. To learn more about how we can help, contact Rent Bridge today.