Discover the Power of ManageCasa™ to Optimize your Expenses
As we usher in 2024, the landscape ahead for property management is colored by a downshift in rent prices and upshifts in vacancies and rent payment delinquency.
The multifamily construction boom and economic slowdown are also contributing to lower asking rent prices and yearly rent revenues. Relying on old solutions and cost-cutting reactions might exacerbate challenges for your company.
The silver lining in this rental downturn is the opportunity for property managers to reassess and enhance their management strategies. If you’ve been delaying this critical review, now is the moment to act.
In this post, we explore the connection between software optimization and expenses and give you a little pep talk about taking care of your valuable business to grow better results.
Optimize Every Aspect of Your Business for the Next Decade
In times of change, leveraging technology becomes the key to success. ManageCasa™, a full-service digital platform, offers the ideal solution to reimagine and optimize your business. Don’t merely cut costs; enhance the real strength of your business, including your trained staff. Seize this opportunity to fortify performance and future-proof your operations.
Capitalize on Downturns for Market Growth
Smart property professionals recognize that downturns are rare opportunities to amplify market presence and brand value. While renters and landlords keenly evaluate services during challenging times, your marketing and communications strategy becomes paramount in shaping their perception.
Sensible Cost Reduction Through Technology
In response to changing revenue outlooks, cost reduction often becomes a default strategy. However, it sends negative signals and impacts profit expectations and tenant intentions. ManageCasa™ provides a solution beyond mere cost-cutting—to visualizing and achieving management success.
Visualize Management Success
More than just a beautiful dashboard, ManageCasa™ is the epicenter of management power and efficiency, guiding you to identify expense issues, and time inefficiencies, to raise your profit margin. Simplification and automation lead to a pleasant additional benefit — more focus on profitable actions and opportunities — the driver of property management success.
Property Management Costs Breakdown
Here is a breakdown of common expenses you’re going to get better control of via efficiencies, reporting, and accounting optimization:
- Personnel Costs (30-40%): using user-friendly property management software, automate routine tasks to free up time for value-added work.
- Maintenance and Repairs (15-25%): Automate maintenance, predict service dates, and improve communication.
- Utilities (5-10%): Monitor usage to gauge efficiencies and address issues promptly.
- Insurance Premiums (5-10%): Identify areas that need more or less coverage based on real-life risks.
- Property Taxes (5-10%): Use digital accounting software to optimize the categorization of expenses and identify and reduce tax losses.
- Marketing and Advertising (2-5%): Don’t cut corners on visibility; see the value of a powerful rental property marketing platform that leverages automation and syndication.
- Legal and Professional Services (2-5%): Optimize processes to avoid legal issues and fines.
- Administrative Costs (2-5%): Go digital to reduce friction, time delays, and enhance tenant communications and manual work.
- Reserve Fund (5-10%): generate cost savings to free up funds for unexpected expenses and future improvements.
- Vacancy Loss (2-5%): Use integrated marketing services to draw more high-quality leads and minimize losses associated with vacant units.
Act Now—Optimize Costs with ManageCasa™
This is not just an opportunity; it’s a call to action. Explore how ManageCasa™ can be your best cost optimization tool. The time to act is now!
Contact our sales team at 1-415-800-1245 to learn more about migrating to a modern property management software platform and transforming your property management business to what it needs to become.
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