Whether you’re shopping for clothes or booking a table at a restaurant, so much of what we do now takes place online. Technology makes transactions faster and more convenient, and we’ve grown so accustomed to having digital capabilities across industries that the ones that don’t have them feel outdated and frustrating.
That’s been the case for the rental experience.
That is, until now.
Previously, rental property managers have not had the tools to help them deliver the best tenant experiences at scale. With high home prices and immigration fueling a booming rental market, technology provides a solution to the challenges faced by property managers when growing their businesses.
Our latest whitepaper, The Profitable Property Manager: 5 Ways to Boost Efficiency and Drive Revenue, shares the ways technology can boost efficiency and enhance the four pillars of property management: growth, accounting, maintenance, and vendor management.
Growth
As the rental market continues to grow, property managers are getting busier and busier. It’s easy to get trapped by having too much to do with too little time, with manual processes that make everything take longer – but technology can lend an additional hand to make growth more sustainable and efficient.
Accounting
Collecting rent, paying vendors, managing staff – the work of a property manager involves plenty of administration that previously relied on both expensive property management and accounting software. Having several sources of information makes keeping track of bills and documents between platforms feel like another full-time job. This redundancy between property management and accounting software wastes time and money while creating inefficiencies such as long turnover times between tenants and delays in paying vendors. Having an all-in-one tech solution can make all the difference.
Maintenance and Vendor Management
Good property management needs good partners to make it happen. Organized contract management, efficient communications, and financial accountability all play a role in keeping good relations with vendors. Since a quarter of a property manager’s time is typically spent scheduling or communicating about maintenance requests, an efficient tech-enabled process can minimize frustration when coordinating projects and keeps vendors satisfied.
Are you ready to see how modern technology can drive efficient property management? Download the whitepaper to access key insights about how to increase revenue in property management and elevate your rental experience.
