7 Benefits of Automation in Property Management Software
Our work routines are a wonderful thing. They give us stability, balance, and we get tasks done. We like the feeling of being engaged in serving our customers every minute of the day.
While you enjoy your daily work, there is a point where slugging it out manually becomes ineffective. The work becomes too much, without appreciation, and staff become exhausted. Then there’s the BIG errors that rock the business.
Next Generation Software Changed Everything
Property management business has changed, yet it’s also providing the tools to solve our overwork issues. Time is money, and property management cost is mostly about staff inefficiency, therefore automation with its streamlined processes is reducing the demand for staff time.
Yet success isn’t about automating your business entirely, it’s about streamlining specific aspects of your work that slow your staff down.
Let’s open our minds to automating via property management software. The dollar value will come into view later.
Automate and Accomplish More
Not having the time to devote to marketing, tenant relations, and adding new digital services is a problem that gradually hurts your business. Tomorrow arrives, and when we don’t have time and our services are the least modern in the region, it hurts business.
Yes, you’re getting valuable work accomplished, keeping landlords and tenants happy, however expectations have changed. Now in 2023, labor costs staff capabilities are an issue. Your staff is the perfect example of the problem of manual work processes. Try as they may to be perfect, errors happen in the minutiae of tasks, along with the delays that interrupt their work flow, and the fatigue of repetitive tasks (gets worse with scaling up unless technology can help).
Property Management Automation — who doesn’t love the phrase “No work required?”
Automating your daily accounting, communications, marketing, and financial tasks and customer interaction may be the most important change you’ll make to grow your business 2023. The time savings across a property management firm via automation will make a big impact on your profit loss statement.
Manual Multitasking Doesn’t Work
Research shows that multitasking doesn’t work. It’s unproductive and does negatively affect staff health. There are work tasks, including administration which are too tedious in a fast-paced stop and start environment. Hard to retain staff are expected to be plastic and infinitely resilient, but they simply aren’t.
Enter SaaS automation platforms and this issue is eased. Property managers can progressively automate tasks, and remove the work that causes bottlenecks and results in staff churn.
What is Property Management Software Automation?
Definition: Automation refers to the flow of data, which is processed and recorded into separate accounts and documents. From the chart of accounts to invoices and leases, to tax documents, the data is correctly recorded, so your staff don’t have to keep entering data manually. The forms you need to use are pre-filled and ready to use.
Where is automation most valuable? Reducing data entry and rework by staff is the most obvious. However, automation serves bigger objectives when it optimizes rent collection, improves cash flow, impresses investors/owners, improves the tenant experience and rent price, synchronizes maintenance, increases confidence, and improves your business intelligence.
One feature is lease-based based accounting. Here, accounting calculations are driven by what’s stipulated in the lease. For instance, utility bill costs or repair costs could be split automatically among tenants in a building according to their payment agreement. Whatever rules you set determines who pays what and when. And invoices get sent on time.
Top Benefits of Automation
- Rent Collection: automating online rental payments for tenants reduces issues and errors in transactions, encourages rent payment on time, and provides real time payment alerts. The whole process is done invisibly for you so it’s like the task disappears.
- Maintenance Requests: 24×7 messaging, templated emails/messages, and auto response 24 x 7. Tenants fill out form about issue and include photos or videos using their smartphones.
- Simplified Accounting: bookkeeping entries and accounting entries automatically executed without your manual input means you can concentrate on verification reliable reports (better than spreadsheets).
- Consistency: tenants and contractors learn the system and follow the computerized process for greater synchronization and communication to avoid costly service delays and complaints.
- Property Inspections: Conduct inspections via templates via tablet device, automatically saving them and generating reports. Mobile inspections can save a lot of time if you conduct 20 or more inspections per month.
- Reduced Paperwork: reduce paper waste and handwritten entries which tire your hand and arm, and to decrease errors and lost paperwork.
- Automating Performance Reports: Collecting, collating and interpreting data for reports is a horrible task. The best software accurately and quickly does this and gives you real time views of your business. Landlords (HOA board members, treasurers too) and staff will appreciate not having to make so many phone calls since the data is readily available in reports in real time.
Modern Software (ManageCasa) is Easier to Work With
When you cut to the heart of the matter, software is about making work easier for property management staff. And modern SaaS property management software is what today’s career-minded staff want to work with.
You can’t scale up, grow profit margins, and ease workloads until you automate.
Book a demo and see the automation features, the discuss the benefits further in depth with our sales team.
* Come join us at NMHC’s Annual Conference in Las Vegas on November 1st. Let’s talk about your property management challenges and where your company is headed.
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