Rental property management software probably isn’t at the forefront of your mind when you have a small operation. You’re probably focusing on scaling up your business, keeping customers happy and training your staff.
But as you grow, a great software program will become more and more important. When I was a project manager for the military, I’d essentially be in charge of hundreds of tasks. Even though I wasn’t the one conducting the work necessarily, I still had to make sure it was completed on time. Property managers are in a very similar position, because each house will have its own issues such as maintenance, late rent payments or an upcoming vacancy that needs to be filled.
How can a few (thousand) lines of code help you organize all of this stuff? Here are the three main ways:
Benefit #1: Rental Property Management Software Keeps Landlords Up to Date
Your ultimate customer is the landlord, right? They’re essentially paying your commissions, so you need to make sure they stay happy. One of the best ways to do that is simply keep them in the loop as much as possible.
One way to do that is by direct contact. You can shoot them an email every few days or give them a call. But considering how busy most people are, this isn’t very efficient for yourself or your landlords.
Instead, a cloud-based software system may be the best solution. It provides live information to your landlords anytime they need it. And even though they may hardly ever use it, they’ll rest assured knowing they have the ability to check in on their properties anytime, day or night.
Benefit #2: Give Your Maintenance Team Everything They Need
Here’s the old school method of handling a customer maintenance request:
- Customer calls the property manager and reports the issue.
- The property manager talks to the maintenance team, who then schedule the task.
- The manager then calls the tenant back, letting them know when the issue will be fixed.
- The maintenance team misunderstands the issue and shows up without everything they need due to a misunderstanding.
- After leaving to get more tools and returning to the unit, the maintenance is completed and everybody is happy.
A good software program can not only speed up this process and keep everyone involved throughout, but also prevents poor communication. It also gives the property manager more of a backseat role, as the new flow looks something like this:
- Tenant logs onto the cloud and reports the maintenance request.
- The maintenance team receives the request and responds with a day/time they can fix the issue.
- The repair is made and everything inside the software system is closed out.
Benefit #3: Rental Property Management Software Offers Convenience to Tenants
Your relationship with each tenant is important, right? You essentially represent the landlord, so keeping the tenant happy by providing excellent service is a major part of your job as a property manager.
One easy way to do that is to offer a little convenience and privacy. For example, the right software packages allow them to pay rent and utilities online without having to walk or drive up to the front office. Maintenance orders are easier too, as the tenant can input them from a computer rather than go through a few phone calls. Pulling up the rental contract or rules of the property may also be something they’re interested in, just in case they lose the paper copy.
So what do you think? Does investing in rental property management software seem to make sense for your business? Or is it just an extra expense that you can’t justify at this time?