3 Ways Property Management Technology Can Improve Your Business

Your company is thinking about the future. You hope to increase your list of properties and improve your business processes, but do you have a plan for growth? New innovations in property management technology can make your business more efficient and owners and tenants even more satisfied with your service.

Here are 3 key ways to improve your business using property management technology:

1. Seek Property Management Technology To Automate Your Business

You're always looking for ways to make your business processes more efficient. Look for rental management software that automates repetitive and detail-oriented tasks. For example, property management technology now allows you to embed custom application forms for tenants. You can set up an automatic screening process that examines each prospective tenant's credit, eviction and rental history, and criminal record. Based on your custom set of criteria, your software will recommend whether you should accept or decline a new tenant.

With the help of rental management software, you can also automate internal processes or social media connections. According to Entrepreneur Magazine, "business automation tools can make your business reach success by leveraging email, social media and web services." Using software-based automation frees up time that can be focused on tenants and properties instead.

2. Look for Rental Management Software That Makes Data Accessible

In the past, property managers were forced to store information in Excel spreadsheets and Word files on their computers. When they needed to share information with a co-worker, they had to search through files and send everything through email. If your company still has an unintegrated data management process, look to new property management technology trends and upgrade your business software. Keeping up with a modern business environment requires property managers and owners to have 24/7 access to all key information.

With cloud-based property management software, property managers don't need to be in the same room to effectively work together. Staff can easily upload, share, and review information about properties anywhere, anytime. They can also collect and share data while they're on site, rather than waiting to look up information after returning to the office. This data accessibility improves customer service and makes life easier for your employees.

Add to your communication strategies with online portals.

3. Find New Ways to Communicate Using Rental Property Management Software

There are many ways to communicate with your owners and tenants, but which ones are best for your business? While some of your tenants want to talk on the phone, others appreciate the 24-hour accessibility of online communication. Instead of jotting notes on a piece of paper, document conversations with staff, owners, and tenants using online conversations that are integrated into your property management software. Look for software that can customize forms to send to tenants online and that allows you to connect specific conversations to specific accounts. Your communications will be well-documented, and those in the conversation can look back and access those messages again and again. This adds a layer of accountability to your business communications.

Today's property management technology trends enhance communication with employees while improving tenants' experience with the business. In short, rental property software can help you implement a smooth and efficient approach to property management. Technology adoption is key to your business success: according to an article on LinkedIn's Top Tech Trends, "the properties that have stable managers who understand these technology systems and are invested in the processes experience higher revenue growth."

"We’re so technology-driven as a company and that's what we're touting to our clients. When we meet with them, we're showing them how we do owner payouts, how the portal works. Owners love the ease of use." - Deb Newell / Real-Time Leasing

As you strive to become a more efficient property management company, look to Propertyware. Our rental management software helps you manage everything from inspections to digital marketing. Sign up for a free tour of Propertyware today.