People tend to think that having a portfolio of properties is glamourous and exciting. In reality, it’s a lot of hard work. As well as dealing with insurance paperwork and wrangling legal notices, landlords also have to deal with frustrating, mundane problems like broken toilets, no hot water, and leaking pipes. Not to mention keeping track of changing tenants, maintenance bills, and a range of extra services such as pets, laundry, parking, and landscaping.
Over 50% of European landlords rent more than one property, which means the problems are multiplied. Keeping track of fees, rent, repairs, insurance, and tenants is a full-time job. On average, each property demands around two full weeks of work per year just for management. You have to add on time spent on unnecessary repairs, find new tenants, and keep track of rent and taxes. If you have more than one property, it’s easy to lose track.
However, times are changing. Nowadays, it’s easier than ever to rent properties and become a landlord. Why; because of automated management systems like PROPERENTY. Online platforms are making managing several properties an easier task. Streamlining multiple processes into one place you can access anywhere is a real gamechanger. It can help you prepare for whatever comes your way, even a leaking roof or blocked pipes!
Never be buried under a pile of paperwork again
One of the main benefits of using an automated management system is having all your documents in the same place. Everything is stored and filed automatically, meaning you and your team can always find what you’re looking for at the click of a button. Documents are securely stored in the cloud, and the system can be securely accessed from your phone or laptop, so you can get your hands-on information, lease agreements, renters’ insurance wherever you are.
You’ll never have to search for paperwork or worry about lost or damaged contracts again. You can even send documents directly to tenants, so all communications run smoothly. Tenants can upload paperwork, proof, bills, and requests for you to see instantly. You no longer have to wait for the post or check your emails. With everything in one place, you can react faster and ensure you are always on top of your paperwork without being buried by it.
Never have to chase
Gone are the days of chasing rent, calculating late fees, and sending multiple invoices. With online management systems like PROPERENTY, you can digitally send out invoices and automatically collect rent and additional costs. Automatically collect rent and check debts without having to send unnecessary paperwork. Billing is automatic, saving you time and money. You can even see payment history and extra fees, apply late fees, and receive financial reports.
Keeping in touch with maintenance teams, staff, and tenants can be confusing and time-consuming. With a central system in place, you can send notifications and messages to your whole team and tenants. You’ll never have to search through a contact list or scroll through your phone book again looking for a phone number. Real-time communication ensures everything is kept up to date and runs smoothly.
With everything in one place, you can ensure your properties run smoothly and any issues are dealt with quickly. Tenants can submit maintenance tickets online, so you won’t have to deal with calls at 2 am about broken pipes. Your team can access the tickets and reference them against previous issues to flag recurring problems for you to address.
Keep the flow
Suppose you have multiple properties and regularly change tenants. In that case, you know how frustrating it can be to go over contracts and onboarding documents and set up a new payment system and provide contact details. All these issues are eliminated when using a central property management software. New tenants can easily access important documents, check their contracts, provide information, and raise issues. The system can also run checks against legal documents, signatures, identification tools, and more, so you know exactly who you are dealing with.
You can set notifications and reminders, so you are always up to date with what’s going on and what needs to be done. You can also send out welcome emails, reminders, and notices to tenants to make sure you’re always contactable.
Reports and stats
Another significant benefit of an online property management system like PROPERENTY is the ability to track your earnings and outgoings. Financial reports, property reports, maintenance spending, revenues, and analysis are at your fingertips. You can also see which tenants pay on time, which are late, who purchases additional services, and where you can improve your service. Everything you want to know about your properties is suddenly available and easily accessible.
Get started today
When it comes to streamlining your processes, management systems offer lots of extras to make the process run smoothly. A fast, easy setup means you can focus on your business and not spend hours onboarding and uploading documents before getting started. You can start straight away. Setting up an account is instant.
The future is here
Automated property management takes the time and effort out of the day-to-day task of managing your properties. This means you can spend more time growing your business, investing, or just taking some more time off. With a central system and easy communication, you are firmly in charge and have the option to delegate, notify, and communicate with team members quickly and easily.
Did you know that 93% of landlords said property management was stressful? You can be in the 7%. The future of property management is here. As a generation looks to rent rather than buy, you can position yourself to take advantage of the growing market. As well as reducing your workload and saving you time, management systems can decrease your operational costs by as much as 70%. That means happy tenants, a happy landlord, and a growing business.