The Power of Real Time Reports for Rental Property Businesses
The speed of business today has created a demand for faster answers, insights, responses, which require up to date information.
Property Pro’s conversations and decisions always happen in real time — right now. Sadly, many property management software platforms don’t provide this fast access to real time data.
When landlords, investors, boards, and even tenants are informed about events, issues, progress and resolutions, conversations are more meaningful and effective. Quality of conversations comes back to quality of information.
We’ve listed the top 14 benefits of real time views for landlords below, yet this topic has lots of depth reaching into every nook of your operations. When you contact our sales team, you can discover how you might drill down to specific insights and reports needed.
Real Time Insights for Landlords and Association Boards
It’s important to rental property stakeholders that they “know what they’re talking about” and real time reporting shapes actual events, perspectives, key points, and agreements.
Real time data and reporting refers to dashboard views and reports that are fresh and up to date as is possible.
Research has also shown tangible benefits for real time property management reporting.
Here are some findings from one study:
- 80% of companies surveyed reported revenue uplift due to real-time data analytics
- 98% of companies reported increased positive customer sentiment
- 60% saw major efficiency and productivity gains
- 62% of companies reported more efficient process rollouts after implementing real-time data systems
* From the Centre for Economics and Business Research (CEBR) The Speed to Business Value report.
ManageCasa will be exhibiting at NAA’s Apartmentalize Conference in Atlanta, beginning on June 9th. Hope to meet you there!
Key Benefits Right Now
A quick point to make about real time reports is about being alerted to issues fast, so you don’t suffer losses. At moment of decisions, you have the most recent info about rent arrears, work order progress, and actuals vs budget, etc. and can make sounder decisions.
Having real time insight can help save a relationship between landlord and property manager because the financial issues and road to remedy are clearer. And association boards and investors want greater clarity and transparency about the performance of their association budget, revenues, and the condition of assets.
Big Expectations Today
And today, everyone is expected to make faster, complex, but accurate decisions in the moment, whether with investors, property managers, or HOA boards where accurate up to date data in usable reports is expected. They want it yesterday!
Double entry accounting, online payments, banking integration, and SMS texting are a few advanced features which benefit from the power of real time data. Of course, you can ask about the full use of real time reporting via the ManageCasa dashboard with our sales team when you do a software demo.
While many software companies don’t promote the full value of real time reports, they’re missing out on a key reason to use a property management platform.
Here’s 14 Valuable Benefits from Real Time Reporting:
- quickly identify trends, spot potential issues, and take necessary actions promptly, ultimately improving overall efficiency.
- see your operating expenses across all properties and track costs by property and units
- help you understand funds that are available and reasons the property management firm has issued lower than normal disbursements
- create actionable, real time reports, including income, cash flow, and rent roll reports
- view lease and rent payment status to take proactive steps to resolve any issues promptly, ensuring consistent cash flow
- see which units have renewals coming up, results of inspections, and what your turnover costs are
- monitor maintenance requests in real-time, assign them to appropriate personnel, and track progress
- detect/flag issues immediately for fast response
- share reports with stakeholders using any smart device
- gain accounting insights by monitoring income and expenses, reviewing ledger and journal entries, tracking financial performance
- send updates, reminders, and notifications to improve tenant satisfaction and reduce waiting and misunderstandings — tenants are the customer
- see communications with tenants to know how lease renewal negotiation, payments, maintenance tickets and active work orders, and other issues are progressing
- view renter applications and background checks as soon as you’re notified they’ve been submitted
- share real-time reporting to provide transparency and accurate updates on property performance. This strengthens investor trust and enhances communication
From financial reports, rent rolls and payables, to maintenance work orders, and being notified of anything that needs to be dealt with right away — you’re justified to upgrade to a property management software with real time capabilities.
Those capabilities range across services.
To find out more about the real time potential value you’ll enjoy with ManageCasa™, speak with our sales team who can assist you with a demo and answer your specific questions.
Real-time reporting. Something you can’t do business without.
Schedule a Software Demo Now
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