rental property management software – Propertyware

How an Open API Unlocks the True Potential of Single-Family Property Management Technology

Anthony Maiella — Tue, 21 Nov 2023 23:00:00 +0000

By: Laurie Mega No matter how hard a single property management technology solution tries, it can rarely solve every single pain point for every single property manager out of the box. There are always workarounds to capture information left out of the system, or to set up workflows unique to your business. This is particularly true for single-family property managers, who may be dealing with multiple owners of one-off properties, or HOAs with unique rules and regulations. Even when a software solution is as customizable as Propertyware, there still may be a few aspects of your business you’re still using other programs to run. But what if you could pull information from those programs into your property management software, or even push information out to spreadsheets or other programs? If your property management software features an open API (like Propertyware), that’s exactly what you can do. It’s customization on top of customization. And here’s how it can make you a more efficient and more profitable property management business. And if you really want to do a deep dive into open API’s check out our guide: Your Business, Your Rules.

What Is an Open API?

API stands for application programming interface. It’s a set of rules that determine how one program can communicate and interact with other systems and applications. When a particular solution or piece of technology in property management includes an open API, it allows you to create a two-way data connection with other programs. Think of an API as a waiter in a restaurant. The customer (outside app) can request specific data from the kitchen (the property management software) off of the menu. The waiter is the one that then fulfills the request and serves up the data. It’s also important to note that you’ll also need a middleware solution that sits between both pieces of software to connect and route the data as you intend. Most property management technology allows only a one-way data connection, which means you can pull data out of the system, but not put it in. With Propertyware, however, you can set up that two-way exchange, allowing you to customize your processes even further. With it, you can connect just about anything, including

Enterprise accounting software
CRM programs
Digital marketing tools
Outside ticketing systems
Vendor software

There’s no limit to the possibilities.

How Can Property Management Technology with Open API Help Me?

There are myriad ways to harness the power of an open API for your property management business and the way you use property management apps. Because, really, all you’re doing is getting your software solution and your other apps and spreadsheets in the same room to talk. What they talk about is up to you—based on what the open API allows. Here are just a few ways some property managers have used an open API to streamline processes, improve efficiency, cut costs, and increase revenue.

Manage Vendors Across Your Business

You may have preferred vendors for all of your properties. But if your properties are located across cities, counties, or even states, you probably have a mixed bag of local vendors serving the needs of your tenants. Allowing vendors to integrate their digital solutions with yours makes it a lot easier to track and manage tasks, projects, and billing. Vendors can see and respond to work orders, enter labor times, and submit invoices, all of which will be pulled into your property management tool or “system of record.”

Turning Property Management Technology Into Your System of Record

Most property management apps come with a set of analytics that help you track processes, forecast budgets, and make informed decisions for your business. For example, digital marketing tools will show you how many people viewed and clicked on a post. Meanwhile, you may have a communication app for employees that gives you analytics on engagement. Meanwhile, billing, shipping, and service information are all saved in those multiple apps, as well. Logging into all those accounts and keeping all those metrics, dates, and payments straight is a time suck, either for you or for someone on your team. By integrating your property management apps into one tool, you can keep track of everything in one place, turning your property management tool into a more complete system of record that makes it easy to view and report important information. For example, Propertyware can integrate with Hubspot for marketing, as well as with services such as Second Nature, a filter subscription service for HVAC and refrigerators. Propertyware can store subscription dates, payments, and shipping confirmations, making it easy for property managers to track filter replacement on each of their properties. For more on API integration, check out our guide: The Power of a Customizable and Open Property Management System.

Customize Processes for Efficiency and Profitability

Most technology in property management already allows you to automate much of the business of being a property manager. Online billing and payments allow tenants to complete all of their transactions online. Listing and syndication become a simple matter of uploading a listing and pushing a button to get it out to several channels. Lead tracking all happens within the system, too. But for automated processes outside the system, for digital marketing or even HOA meetings, working through an open API can cut down on time, and even free up staff for other tasks. One property manager pulled all of their outside apps. They can now log into Propertyware to access Hubspot for their CRM, and other go-to tools for their inspections and renter verifications. By using the API, they have reduced staffing costs. For example, inspections can now be run by one person instead of three.

Consolidated Communications Across Your Company

Property managers can use an open API to consolidate task management and communication internally, as well. Say you’re using Zendesk for calls and live chats with residents and owners. You can pull all of the call logs and chats into your property management software to keep a record of all interactions and help improve customer service. You can also keep track of tasks assigned in Asana, Trello, or other task management software solutions. For our property manager’s full story, check out our guide: 6 Business Goals Attained Through Customization.

The Power of an Open API Coupled with Customizable Property Management Technology

Not all property management tools are built the same. Many don’t have open API capabilities. Some don’t even allow you to customize within their tool. Since no two property management companies (and no two properties, for that matter) are alike, using an out-of-the-box technology in property management is problematic. It forces property managers to come up with work-arounds. They may look to other software solutions, or even to (gasp) spreadsheets. That can create redundancies in work or risky data-entry situations. Propertyware, on the other hand, allows property managers to customize their own tool and take advantage of their open API. If you already use Propertyware, you know how flexible it is. In our customization guide, we talked to property managers who had improved efficiency, reduced staff, and even added revenue streams. Here are just a few examples:

One property manager set up custom workflows for every process in her business. Staff are alerted of upcoming events in each workflow through a color-coded system: green for on time, yellow for upcoming, and red for overdue.
Another property manager added custom fields to track pets at each property. Pet fees and penalty fees could then be applied as necessary.
Property managers have also set up custom tracking for leases and applications, allowing them to split tasks off to overseas staff. One property manager has even moved his entire staff overseas by setting up custom tracking reports.

With the ability to customize so much, is there still room for an open API? Absolutely. Once you are getting everything you can out of Propertyware, you can take it even further to cover tasks property management tools don’t even cover. Track and forecast your marketing strategy without having to log into your digital marketing apps. Budget for the upcoming year by looking at numbers from your accounting software and your rental rates at the same time. We’ve said it before and we’ll say it again. The possibilities are endless. It’s up to you to determine your business’s goals and then ask “How can customization and an open API help me reach those goals?”

The post How an Open API Unlocks the True Potential of Single-Family Property Management Technology appeared first on Propertyware.

5 Multi-Location Management Problems Solved by Property Management Software

Jake Belding — Mon, 18 Oct 2021 22:01:44 +0000

By: Laurie Mega Managing multiple locations can be a constant juggling act, particularly if you have locations that fall across city, county, or state lines. You may be using different marketing strategies to reach different audiences and there are more than likely to be tax, security deposit, eviction, and even waste disposal laws that are unique to each of your locations. Using the right software can solve many of the most common problems larger property management firms face. A purpose-built property management software solution can help multi-location property managers handle all locations at a high level within a single platform while letting individual offices to get granular with the details that matter in their locations. In this article, we’ve outlined five of the biggest problems multi-location property management firms face that can be solved with a customizable property management platform.

Problem 1: No Clear View of All Locations at the Corporate Level

Meeting with location managers on a regular basis can mean a huge time commitment. You lose time scheduling a monthly or quarterly meeting where you have to listen to every presentation from each manager. Your managers spend time putting those presentations together, too. But what’s the issue with that, you ask? You’re not getting a full picture of your locations’ performance, just the highlights your managers pass on to you — and you’re certainly not getting any of that information in real time.

Solution: A Corporate-Level Dashboard and Consolidated Reporting

Instead of regular meetings that cover only some of the aspects of each location, you can introduce software with a dashboard that pulls in everything you need to know for each location onto one screen. This feature lets you look up turnover rates, rent collected, maintenance issues, or anything else you need to drill down into. Instead of managers spending time putting together presentations, they can simply enter in the correct data and move on with more pressing tasks that better serve their owners and tenants. A flexible solution will also allow you to create customized reports that give you key data for all, as well as individual, properties. You can even use that information to compare properties in the same or similar areas to analyze KPIs such as rental rates.

Problem 2: Inconsistent Processes Across Locations

Even for properties in different towns, regions, or states, there are some processes that will look pretty much the same. For example, listings and other marketing tools, as well as the rental application process will most likely follow a fairly similar format. Because those processes are so similar, there’s little point in having every location come up with their own documentation for each action. You want a consistent process that’s in line with your brand. And you want all of your locations reporting the same KPIs back to you so you can compare their performance and identify opportunities for improvement.

Solution: Templated Processes

Create templates you can share with all of your locations to keep rental applications, marketing, maintenance ticketing, and other redundant processes in line with your company’s goals. By implementing a software solution with those capabilities, you save your location managers time and money. When it comes time to check up on a location or handle a specific issue, you’ll be able to work effectively together because you’re all using the same templates.

Problem 3: Cookie-Cutter Processes Don’t Meet the Needs of Unique Locations

We know what you’re thinking. Templates don’t take into account unique situations at certain locations, forcing property managers to look for work-arounds. And that’s true. There’s no point in using templates to save time if you’re just going to have to spend that time finding a work-around.

Solution: Customization

A good property management software solution will still allow individual locations to make tweaks to templates to account for location-specific differences in some processes. If, for example, one location has a different time limit on sending back security deposits, property managers can adjust for that in their move-out templates.

Problem 4: Employees Have Too Much or Too Little Access

Okay, now you’re thinking, “What’s the point of templates if employees can go in and change them?” In any software solution, you don’t want certain employees to move carte blanche through the system. Deleted files, rearranged templates, and revised reports can cause a huge headache for you and your team.

Solution: User Profiles

That’s where user profiles come in. Your property management software solution should let you set up user profiles that allow you to restrict access to certain functions. It will also let you lock down certain aspects of your templated processes and documents. Property managers can set up user profiles for vendors, as well. Cleaning and maintenance crews with restricted access can log in to check for new work orders and update existing ones. They can even use it to submit invoices for completed work.

Problem 5: Reinventing the Wheel Every Time a New Location Opens

When you open an office in a new location, do you find yourself starting from scratch? You know what needs setting up and how to do it, but does your team rebuild all the processes and docs from the ground up? Even if you’re revising from your existing model, that’s a lot of time hunting down every tool, doc, spreadsheet, and app you need, then copying and revising them for the new location.

The Solution: Business Model Cloning

What if you could clone your business model and all that goes with it every time you open a new location? Think of the time and effort saved setting up your new office. Instead of focusing on processes and documentation, your team could focus on bringing in more doors and delivering the best possible service to existing ones. As the owner of a multi-location property management firm, you have to stay high level and focus on the health and trajectory of the business. While it’s important to keep your eye on your locations, you can’t get bogged down in minutia. That’s why it’s important to set up documentation and processes that allow you to manage individual locations quickly and effectively. Best-in-class property management software can help you cut down on time, money, and staff by automating and customizing every part of your property management business—no matter where your portfolio takes you. Explore the benefits of an all-in-one, open-platform property management solution, built specifically for multi-location property management companies.

The post 5 Multi-Location Management Problems Solved by Property Management Software appeared first on Propertyware.

4 Pro Tips to Level Up Your Move-In Process

Anthony Maiella — Mon, 26 Apr 2021 15:00:08 +0000

By: Laurie Mega This is the second in a series of posts to help single-family property managers make their leasing processes more efficient, reduce costs, and increase profits. This article will highlight the top lessons taught by Propertyware’s training team and focus on move-in process enhancements by way of technology. Property managers are always looking for efficiencies and cost-saving measures in every corner of their business that will benefit their owners, while delighting their renters—and you’re no different. A good place to examine in your leasing cycle is your move-in process. Why? It sets the tone for how you do things with your residents and can kick off healthy, long-term relationships that solidify your retention rates. Not to mention individually coordinating every detail of move-ins across multiple properties leaves you vulnerable to measures that take up precious time and resources. Finding room for improvement in your move-in process has some quick-hit benefits:

It finds those efficiencies and cost savings you’re looking for.
You can do more with fewer team members.
It will save your existing team time.
A smoother move-in process will leave a good impression with tenants, who will be more likely to recommend you and become long-term tenants.
A faster move-in process reduces vacancy time and turnover complications, which makes owners happy.

To get you started, here are six pro tips to increase efficiency and reduce costs at every stage of your move-in process.

1. Automate, Centralize, Monitor Your Payments

According to 2021 Rental Owners’ Report from Propertyware and Buildium, payments are the number one process that rental owners want their property managers to handle digitally. In fact, 73% of single-family rental owners would like the option of making and receiving payments electronically. You may have found yourself in a situation where your team is spending far too much time collecting your rent payments, and physical checks. Allowing renters more options to pay doesn’t have to complicate the rent-collection process. You can automate and centralize your rent collection using property management software and a tenant portal. In general, property management software allows you to accept rent payments in three ways: ACH (electronic check), credit card, or cash payments through approved payment centers. And the more types of payment options are available, the more convenient paying rent becomes for tenants, reducing the number of late or missing payments and getting those funds to your owners even faster—especially with features like recurring payments. If you want to give tenants the flexibility of cash payments, but you don’t want to handle the cash yourself, you can offer a service such as Propertyware Cash Payments, which syncs you up with bill pay services through retail locations like Walmart. Even if you already have multiple options set up, you should still be monitoring each payment channel across your portfolio to determine which are the most effective—and where there might be some adoption gaps. Usually, education takes clear and concise communication with tenants at all the right points in their tenancy. Consider where you might be able to set payment expectations from the start along with where to communicate their options on a regular clip.

2. Go Mobile With Your Inspections

When you have multiple move-in and move-out inspections happening at once, it’s hard to sync up all that information. Between the tenant reports, damage logs, and repair tickets, there are just so many moving parts. Consider using a mobile app to help conduct and record inspections, and then create reports and repair tickets on the go. An app with camera mode will also allow your inspectors to take pictures of damage, tag it, and log it in your reporting system. Once the inspection is completed and the mobile device is connected to the internet, everything will synch automatically. Later, you can compare previous inspection reports with current ones, and create repair and maintenance tickets based on what your inspectors found.

3. Stay on Top of Your Turnover Maintenance and Repairs

Before a move-in happens, you’ll want to closely manage your maintenance expenses during the vacancy period. While you never want an extended vacancy, making sure your routine maintenance is appropriately transitioned can save you money. First, you’ll want to make sure you pause any unnecessary routine maintenance. This might include lawn or pool service, for example. Second, you’ll want to make sure you prepare for any special agreements that were outlined as part of the impending tenancy. You can also manage your vendors for repairs, maintenance, landscaping, and other work all in one place. Look for ways to standardize costs, make work orders easier to generate, and create recurring tasks across properties.

4. Lean Into Your Delivery of Possession Experience

Communication with your tenants will always be a central part of your move-in regimen to make a smooth handoff of the property happen. Setting the tone from the moment a new tenant signs a lease is key to starting the relationship off with the right expectations in place and everything they’ll need to know for a solid move-in experience. You’ll want to create orientation content and welcome communications to provide next-level service and save your staff from answering the same questions on repeat. You can include information such as trash pick-up, utility services (if you’re not using a centralized bill-paying system), area schools, and even local restaurants. Think about the information that tenants should receive at the different stages leading up to move-in. Next, build an outline of a series of emails that supports the intended experience—emphasizing the most important information. You’ll want to get them logged into their tenant portal right away so they can find all the same information 24/7. You can also take this time to introduce opt-in services like the AssetProtect Insurance Program as an added bonus that heightens the tenant experience, safeguards all parties, and gives your business an additional revenue stream. When it comes to running a successful property management business, you’re always looking for ways to make processes more efficient, improve services for tenants and owners, and create new revenue streams that improve your bottom line. We’ve already talked about the lead-to-lease process in the previous article. Now, take a look at your move-in process. Where is there room for improvement? How can you leverage software to standardize tasks and pull everything into one central location, ensuring nothing falls through the cracks? With customizable technology (and your imagination), you’ll be surprised with the process efficiencies that you can make happen. Check out the first post from our leasing technology series: 7 Pro Tips to Improve the Lead-to-Lease Conversion Process. While this article is a high-level overview of the leasing process, Propertyware gives users detailed guides to unlimited customizations. If you’re interested in learning more about Propertyware’s software or the detailed onboarding provided to our clients, contact us.

The post 4 Pro Tips to Level Up Your Move-In Process appeared first on Propertyware.

7 Reasons Why Property Management Inc. Franchisees Voted Propertyware as Vendor of the Year, Again

pwadmin — Mon, 23 Oct 2017 22:04:58 +0000

In September, the Property Management Inc. (PMI) franchisees voted Propertyware as the 2017 Vendor of the Year, for the second year in a row. Leading-edge rental property management software is a necessary piece to the growth and success of—not just our franchisees—but for any property manager who wants to grow their business. Designed specifically for residential property management, RealPage’s Propertyware has made it possible for managers to do many necessary tasks with one integrated system. Here are 7 reasons why Propertyware is an asset to your property management business.

1. Automated notifications with tenants and owners

Propertyware is committed to helping property managers save as much time as possible so you can focus on what’s most important: running your business. Propertyware automates messages for your tenants so that they can be informed about upcoming fees or important news like rent or policy changes, but you won’t have to spend valuable time drafting and sending messages on a monthly or weekly basis. They are automatically generated and sent on schedule.

2. Real-time communication with employees, tenants and owners

Clear communication is essential for any property management business’s success. Propertyware helps make sure your employees, property owners and tenants are all on the same page by allowing them to communicate online in real time with their own Propertyware Conversations network. There is no delay on the delivery of important information.

3. Comprehensive accounting

Propertyware’s powerful accounting program gives your business the tools it needs to manage your finances and meet your property owners’ cash or accrual needs. Track deposits, payments, and bill information, and generate a wide range of reports and property-level budgets. Propertyware integrates with QuickBooks and owners and tenants can access their accounts online at anytime for an instant update.

4. Effective rental property marketing

Advertising properties and finding tenants are as vital to successful property management as maintaining positive relationships with the tenants you already have. Propertyware will assist you with creating accessible, informative, and appealing listings to attract renters.

5. Automated tenant screening

Tenant screening through Propertyware allows you to receive applications online, accept application fees electronically and screen prospects in real-time with an easy-to-read comprehensive report. Propertyware allows you to customize and set standards that allow you to find the best quality tenants while staying in compliance with Federal Housing Rules & Regulations.

6. Streamlined automated maintenance process

Propertyware streamlines the maintenance process from beginning to end, making it as easy and efficient as possible. Propertyware’s 24/7 Maintenance Contact Center makes sure every message is answered quickly and efficiently. Propertyware will then manage every aspect of the maintenance process by contacting vendors, tracking expenses, and invoicing tenants or owners with fees. You can make your property maintenance as consistent as possible by compiling standardized tasks and fees for any future work orders to reference.

7. On-the-go access

Propertyware’s cloud-based software means property managers don’t have to worry about hosting or maintaining their own data. Instead you can access Propertyware around the clock anywhere with an internet connection. This helps make sure your data is secure and comes in handy if you want to check or manage accounts on site or anywhere outside of the office. Propertyware’s mobile app make its many features all accessible from your phone so you don’t have to worry when you are away from the office. Jamie Harris is the Executive Director of Accounting for Property Management Inc., a property management and real estate services company providing leading-edge technology, training, systems and support to more than 200 franchises. The PMI franchise network manages $5 billion in assets globally and has been recognized as a leading property management franchise.

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