Navigating the Road to Rental Success
WITH TECHNOLOGY IN THE DRIVER'S SEAT, OVERCOME THESE FIVE COMMON PROPERTY MANAGEMENT OBSTACLES
Prospective renters need to take a lot of steps before they become a paying resident at one of your properties. Unfortunately, that means potential roadblocks could get in the way, keeping them from signing the lease and derailing your efforts to fill your vacancies quickly. But sometimes, you can also get in your own way. The road to rental success is paved with good processes. Here we'll guide you through streamlining your entire leasing process.
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Roadblock 1 (of 5):
Marketing
Ineffective marketing can waste both your and your prospective renter’s time.
But when done right, it’s eye-catching and connects the right renters with available properties.
Poor Website Experience
About 75% of modern renters use mobile devices to contact properties, so your website needs to look good and work smoothly on smartphones and tablets.
Manually Posted Vacancies Across Multiple Sites
Fill out your property information once and disperse it to hundreds of listing sites with a single click; technology saves you hours of manual labor keeping listings updated.
Too Many Vacancies
Online guest cards capture and store lead sources without the headache of third-party integration and you can quickly turn them into a resident when you're ready.
Roadblock 2 (of 5):
Applications and Leasing
Mounds of paperwork are nothing but a nuisance in the digital age, slowing down an otherwise potentially instantaneous process.
Paper Applications and Leases
With modern online applications and leases, your prospective renters can easily apply and pay the fee via credit card in one place, attracting more renters and converting them quicker.
Tenant Screenings
The right technology lets you quickly and consistently screen prospective residents on the spot, cutting down on phone calls to previous landlords and saving time.
Messy Move-In/Out Inspections
A system that allows you to input your inspection notes and photos from your mobile device into your software can save time and increase your revenue by shortening a unit’s number of vacant days.
Roadblock 3 (of 5):
Maintenance
Open-ended maintenance procedures lead to slow and inconvenient fulfillment, as well as frustrated renters and property managers.
Non-Stop Maintenance Issue Walk-Ins
By tracking all orders online, you always have visibility; you can dispatch vendors, track statuses, communicate quickly, and prioritize maintenance requests.
Late-Night Maintenance Calls
Have someone else answer those midnight calls, record them in your system, and deploy vendors. Call centers act as extensions of your business so you don’t need more staff.
Roadblock 4 (of 5):
Payments and Processing
There’s a reason they call it “snail mail.” Online payments transfer funds quickly and efficiently, so you never wait around for a missing check again.
Piles of Paper Checks
A built-in, complete online rent payment platform for accepting rent online is a game-changer. Simplify your reconciliations and securely accept payments while cutting down on misplaced checks.
Lack of Streamlined Communication
Mobile communication is the best way to share important information. Software with built-in text message and email features enable you to instantly message renters, owners, vendors, or even prospective renters.
Slow Tracking Process
Modern owner portals enable you to share statements with owners any time and pay owners directly online, which makes them happy and streamlines your processes.
Roadblock 5 (of 5):
Growth
To grow your property management business, you need happy renters who will be advocates and help market the property for you.
Unhappy Renters Who Want To Leave
With technology by your side, you’ll have more free time to spend on areas that matter—like customer service, resident retention, and marketing.
Negative Online Reviews
Ask renters to write positive reviews on social media for you. The negative comments will always be out there, so be sure to respond professionally to the less favorable ones, too.
Inaccurate Financial Reporting
A complete and solid accounting software system gets the job done. Entering bills, creating budgets, running reports, making payments, and doing bank reconciliations should be quick and painless.
With the right property management software moving these annoying roadblocks out of your way, you can sit back and relax knowing your business is in good hands.
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Hop in the car and enter your name to get started.