Put the Accent on Profitability This Year
Are you one of many property managers or landlords who focus solely on the day to day operations of your rental properties? Isn’t it always the case that when you’re done with one task or putting out one fire, that the next appears?
If you’re hired to fix building/apartment problems, edit paper documents, and chase down rent payments, it’s hard to grow business, find new revenue sources and raise ROI. The old fashioned way of doing business is actually a business liability now. It’s time to reach out for more.
Efficiency without the right tools is a risky strategy
Look at your Business a Fresh, New Way
Let’s downplay cost cutting right now and shift our attention to the big picture goal of improving profitability.
Marginal improvements from cutting maintenance and operating costs, and less valuable services often aren’t compelling (although still valuable when inflation sets in). Will you be able to lower maintenance fees or contractor fees? Can you raise the rent prices?
This revenue growth/cost reduction challenge is solvable, by using property management software with an eye on profit growth.
And property management software sits as the foundation for successful property management today, given the tough regulatory, tax, and operations challenges you face. For any property manager, the virtualization of property management is the right way to reduce the clutter/exhaustion of paperwork and phone calls. And it offers more.
Benefits of Virtualizing Property Management
Let’s summarize some of the benefits of a modern, cloud-based property management automation:
- automation reduces the continuous flow of time consuming customer service issues
- automation quickens and improves accounting and financial management
- key financial reports help visualize your property performance and help you identify profit losing business
- improves tenant communication to build rapport to support renewal of leases
- easy and secure access to documents, reports, and mobile functionality
- data analysis – collecting a variety of information for deeper insights into your business and understanding your key performance indicators
- builds your brand with a public face with strong rental marketing services
Powerful Software Features Can Still be Easy to Use
Powerful yet simplified property management platforms such as ManageCasa make property management easy. Our developers built an outstanding virtual management product with an accent on user-friendliness. A product won’t perform well unless it’s simple. And if you’re exhausted during the pandemic, you understand the need for simplicity.
With a solution such as ManageCasa, you have all the control modules you need to manage your property finances, maintenance tickets, tenant communications, and rent collection. Everything is synchronized in real time so you feel confident and in command of your business performance.
It’s a fantastic bit of technology, and affordably priced given the value it delivers. This point has to be made again and again — the delivered value of property management software against the subscription price is immense whether you’re a landlord or property manager. It’s property management excellence from your smartphone.
Here on the ManageCasa blog, we’ve covered strategies to improve your business model, generate additional revenue, improve workflows, and other helpful insight. It’s nice when you can get your business to the point where you’re a big picture manager, rather than a micromanager.
Mastering Property Management ROI
Profitability is a state of mind. If you’re focused on costs, you’re not earning enough revenue. Given how competitive rental management is, property management companies really need to be focused on growing revenues. Your landlord clients will like this entrepreneurial focus, thus helping you stand out from task-oriented competitors.
Here’s the 4 Key Improvements You Need to Consider:
- Extend management services – in your property management role, you might be aware of where your services aren’t ideal – maintenance ticket process, accounting, leasing success, tenant communications, and completing repairs quickly through better organization. Your software platform may allow you to achieve professional level capabilities in areas where you’re weak. Landlords will pay more for professional level services, and your clients may want them right now.
- Venture into new Rental business – the rental business sector is booming and entrepreneurs are happy about it. Residential real estate prices, equipment prices etc., will rise leaving renting as the only option for most. That means storage rental, maintenance equipment rental, and even furniture rental business is legitimate. Recreation will be big, yet moorage or storage is expensive which means marina slip rental will be in demand.
- Optimize lease management – getting tenants to continue their lease is a priority and using your management software to communicate value and satisfaction is the best way to do it. Having all the information on your leased tenant in your dashboard makes it easer for you focus on actions that will have impact. It’s important so you can tailor services and communications to them to grow their impression of value and keep them loyal. Making the lease signing process simple and helping them feel secure in uncertain times, can work wonders to keeping them leased.
- Extend marketing reach and services – here’s a key neglected service that most property managers can’t see themselves doing. Yet, your marketing strategy determines your future flow of quality tenants, new landlord leads, and how to build your brand as the most valuable property management company in town. You might even manage your landlord client’s websites which makes you more vital to them.
That’s 4 quick items you can explore right now.
All of your new profit-generating ideas and tasks can be conducted in your ManageCasa dashboard. Do all your financial transactions including leasing, communications, and rent collections within any of your rental business enterprises. And see in your reports how your new strategy is raising profits and cutting costs.
If you’re just breaking into the rental property market or starting a new property management business, using ManageCasa is essential.
ManageCasa is at the Seat of Profitability
It’s the potential revenue you could develop using ManageCasa’s property management solution that stands out. However, the automation of your workflow, and the improved customer service you deliver does impact your bottom line too. Both of your key business objectives are achieved with one rental property management platform.
Property management software is a very affordable, revenue building solution that can make your workday a pleasure. But using it old school style isn’t really solving your real business needs. To compete, you need to be better than your competition.
After reviewing our competition, you’ll realize ManageCasa is the right choice. Dig in more into our solution and schedule a demo so you can experience the dashboard, tools, and ease of use.
Try ManageCasa and discover why our platform is the only one you need
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