Properties can now be monitored online and this trend is already gaining traction and was pushed further because of the pandemic restrictions. Property management solutions can help you manage your properties with ease and comfort. It’s simpler and the services are available for your convenience.
It’s also an important move to go online if you already are stressed out with managing your properties and becoming time-consuming too. With an integrated system, you can manage everything about your properties online.
Aside from giving you more time, there are a lot of advantages to going online for your property business. Here are some of the advantages:
Place ad vacancies online
A lot of people are already online and it’s a good place to advertise to your potential tenants who are looking for listings. Placing the ads online also enables people to see the place before contacting you. They can also ask questions and set up appointments to see the property. It will be easier for you to advertise your property whenever a tenant leaves.
It’s best to also have a well-built website for your property listings and upcoming vacancies. You can also add a review section for leaving tenants to add recommendations for your property. This will help you promote your property and easily fill in vacancies. It will also attract customers to your properties because of the reviews and come to know that you are a reliable landlord who manages a well-maintained property.
Online tenant background check
It will be easier to conduct a background check on your potential tenants online. You won’t need to ask someone to investigate but you can simply look them up on social media networks or even simply at search engines. Some sites can help you with the background check and you just need to set your budget.
There are PMS solutions that can help you filter out less-qualified candidates with certain verification tools, background checks, and renter histories. These third-party integrations can help provide you any relevant data that will help your property business.
Efficient rent collection
When going online, there are different ways for your tenants to settle payments as well. This is a great advantage for your property business because your tenants will find you flexible when it comes to payment. Instead of asking your tenants and or waiting for their checks to come in, notifications will be sent to you by an online rental income tracker system. They will be instantly notified of their due dates and reminders about the property.
Your tenants can also pay whatever they want in whatever way they want to pay. This will help you streamline how your tenants pay rent. Many online payment solutions can track rent capabilities. An online collection system is available online and you need to make sure that it fits your budget and is user-friendly too.
Accessible records and finances
It will be easier for you to track all of the finances instead of looking through all of the paper receipts. There will be paper from property maintenance, rent payments, maintenance requests, and applications. All of these papers and files can be easily managed and organized online.
This will save you a lot of paper, ledgers, and space. It will also increase the accuracy of the records and will help you recall them. Online solutions also allow you to keep proper track of your finances like income, expenses, taxes, and bank integrations.
Faster online management requests
There will be tenants who will be requesting maintenance from time to time and it will be easier to attend to these requests when dealt with online. You can easily communicate with your tenants online and they can easily tell you if there are concerns with the property like door locks or leaks.
Aside from the requests, you will be dealing with a lot of phone numbers and emails. With an online database, it will be easier for you to look for numbers of plumbers, tenants, electricians, and other maintenance personnel that regularly attend your properties.
Efficient property inspections
You may not need to go to the property personally to inspect its present condition. You can simply contact the tenants and let them look around the property online. These appointments are convenient and helpful in maintaining social distancing. It will also save you time and effort.
After the online inspection, you can easily show the property condition to the right expert to do the required repairs. They can also tell what tenants can do at the moment until the maintenance people arrive.
Data Analysis
Gathering data about your property and business is crucial for its growth. You track the trajectory of your monthly, quarterly, and yearly income and expenses. This will help you understand if you’re gaining profit, break-even, or even losing money. It will help you make guided decisions about your business. Some solutions also have business intelligence capabilities and analyze a wide range of financial metrics like income, spending, maintenance, and reports that are easy to understand.
Since everything is now convenient because of the online solutions, you can easily expand your business and have more properties. The vacancies will also be lessened since tenants can easily apply for the online ads that you are going to place. You should also look for a system that can be easily integrated with your current one. Above all, look for a solution with a great customer service team that can assist as you transition from manual to online.
Conclusion:
You can manage your property and assets with ease by finding reliable online property solutions. You must select people who are not only trustworthy but also experienced in doing the job. The same also goes for property management. You must also get in touch with the right business for your property management needs and select the ones that are also experts in the field. You can opt to look out for an all-in-one property lease and lifecycle management software, which will help you automate certain activities and simplify your tasks further.