The rapid evolution of tech has, in recent years, seriously changed the game for every industry; property management is no exception. While the duties of a Property Manager at one time simply consisted of rent collection, it has quickly grown to include a wide array of tasks. Some common duties nowadays include underwriting leases, property maintenance, diplomacy and dealing with residents or owners, handling lawsuits, hiring, overseeing and paying vendors or contractors for various maintenance jobs on the property and much more.
Property managers and management companies these days handle anywhere from 30 to 100 properties at one time, often times wearing many hats. Sometime they must be diplomats or mediators when dealing with resident complaints and issues; sometimes they must be lawyers when putting together lease contracts and bylaws; there are plenty of duties for a property manager or management company to fulfill – it would be impossible if they were still doing it all by keeping records using pen and paper or even certain programs like excel or quickbooks. That’s why there are now dedicated property management software that offer several functions all rolled up into one suite. Here’s how tech has facilitated every aspect of property managers and boosted property management productivity:
Round the Clock Accessibility and Convenience
Both residents or owners and property management productivity have benefited tremendously from having the ability to submit maintenance requests, send payment, send notifications, submit complaints and do countless other tasks on their own time. Whether there’s a broken washer/dryer, a leaky pipe or a possible mold problem, submitting inquiries and maintenance requests has become as easy as filling out an online form. Software portals, online forms and just basic email has allowed tenants or owners as well as community associations and property owners to basically self manage, leaving the more essential tasks and saving time to property management.
Instant Payments and Easy Tracking
Technology has undoubtedly sped up and simplified the payment process for all industries and of course, increase property management productivity. This single function used to be the main duty for property managers simply because it was so time consuming and sometimes expensive, many times relying on the postal service or requiring in-person exchanges. This is no longer the case as secure payments have become instant with rent payment software that connect directly to credit and debit cards and of course, bank accounts. This change has helped bring about clarity, organization and a digital paper trail, (minus the actual paper, of course.) Best of all, due to the convenience and easy ability to process payments, tenant excuses are reduced to almost non-existence.
Simplified Screening Processes
Screening applicants used to be one of the most tedious and time consuming duties of a property management company; dealing with tons of documentation, making copies, sending it in the mail to be verified and the task list goes on and on…these days, it’s a matter of attaching .pdf or .jpeg files to an application form and submitting. Stacks of documentation on desk has been transformed into wonderfully organized email and digital application forms, filed by date of submission or any other parameter chosen by the property manager. Screening software or property management software suites that feature the capability to screen makes the process instant for property managers. These systems check all the main points of interest to property managers such as eviction history, criminal records and credit check.
Technology and property management software has brought the job description of a property manager a long way, making it a simpler process for everyone involved and increasing property management productivity and effectiveness. Tech has truly boosted productivity and streamlined the growing task list that is now a part of property managers and property management companies’ job descriptions.