TECHNOLOGY IS CHANGING rapidly, and keeping up to date with the latest trends can be challenging. Here we examine existing and upcoming tech developments that can help your agency work faster and more efficiently.
Technology in your agency should do one of two things: enhance the tenants’ experience or make your internal business processes more efficient. The former will help retain tenants over the long term, while the latter can increase your bottom line whilst improving internal processes.
1. SOFTWARE INTEGRATION
Many businesses do not maximise the full features and integrations available with their technology. Building any business will have its growing pains, but rather than investing in a new piece of software and building layers of individual technology which have no interaction with each other, ensure your technology integrates with other programs.
Integrations reduce your manual data entry, improve efficiency and can centralise the data of your business. Integrated software includes accounts, maintenance, accounting, contracts, tenant communication and more.
2. OWNER AND TENANT LOGINS
Time is a precious resource for everyone in this fast-paced world. Using owner and tenant logins can simplify communication between you and your clients. Owners, tenants and property managers can access these at any time, from anywhere, to review contracts, schedule maintenance and inspections and to report issues. Not only is this beneficial to you as a property manager, but it improves your customer service offering as a business and can be a point of difference in the competitive real estate landscape.
3. BENEFIT FROM THE CLOUD
Cloud-based property management software is beneficial to businesses of all sizes. Cloud software has automatic updates, enhanced security and flexibility, allowing you and your team to access data from anywhere at any time on any device. Everything is stored remotely, off site from your business, eliminating the need for backups; everything you need to run your business is safe.
Property managers are constantly on the road, which makes working incredibly difficult if you do not have a cloud-based product. Using a cloud-based solution allows PMs to inspect properties and report in real time. This system will speed up reporting of inspections and maintenance issues and provide the flexibility that your business needs. Assess your current technological infrastructure and ask yourself whether you are maximising its potential.