7 best tasks for property management automation
Why is property management automation so crucial to the efficient running of a real estate agency? It’s because there is so much that goes into the proper management of an investment property, that property managers are going to be stretched thin without a robust real estate CRM automating key parts of the process.
At MRI Software, we develop smart software solutions for real estate agencies and property managers that automate important aspects of your business’ roles and responsibilities. Our software addresses crucial property management challenges, including lead generation, maintenance requests, lease renewals, and more.
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These seven tasks are ideal for property management automation, using state-of-the-art property management software that you can find at MRI Software.
Lease renewals
Property management software, such as Property Tree, automates lease renewals by simplifying the process and reducing manual tasks. It sends automated notifications and reminders to property managers and tenants when the renewal period approaches.
The software provides an online portal where tenants can review and digitally sign lease renewal agreements, eliminating the need for physical paperwork. It automatically generates lease renewal documents based on predefined templates and updates the necessary details from the existing lease.
The software can calculate rent adjustments if there are any changes during the renewal. It maintains a centralised database to track the status of lease renewals for all properties and provides reporting and analytics features for analysis. The software can integrate with communication channels like email or text messaging to automate communication with tenants. Overall, property management software streamlines the lease renewal process, improves efficiency, and reduces errors for property managers and tenants.
Tenant notifications
Property management software automates tenant notifications by offering predefined templates, scheduled notifications, event triggers, integration with communication channels, personalisation options, automated reminders, and two-way communication features. The software provides ready-made notification templates for lease renewals, rent payments, maintenance requests, and announcements, ensuring a standardised format.
Property managers can schedule notifications in advance, specifying the date and time for automatic delivery. Event triggers enable the software to send notifications based on specific events, such as lease expirations. Integration with communication channels like email, SMS, and in-app notifications allows updates to be sent through tenants’ preferred channels. Notifications can be personalised by dynamically inserting tenant-specific information.
The software can also send automated reminders for rent payments and maintenance appointments. Additionally, property management software provides a tenant portal or messaging system for two-way communication, enabling tenants to respond to notifications and engage with property managers directly. Overall, property management software streamlines tenant communication and enhances the tenant experience.
Facilitating apartment tours
Property management software automates apartment tours by offering online scheduling, automated confirmation and reminders, digital tour information, visitor check-in and tracking, follow-up automation, and integration with communication channels.
Prospective tenants can schedule apartment tours through an online platform based on real-time availability, eliminating the need for manual scheduling. Automated confirmation emails or text messages are sent to both the property manager and the prospective tenant, along with reminders closer to the tour date. Digital tour information, such as property details, floor plans, photos, and virtual tours, can be provided to prospective tenants before the physical tour.
During the tour, property management software facilitates visitor check-in and tracking, maintaining records and enhancing security. Automated follow-up communication can be sent to prospective tenants after the tour, increasing engagement and conversion rates. Integration with communication channels allows for seamless communication throughout the tour process. Overall, property management software streamlines and enhances the apartment tour experience for both property managers and prospective tenants.
Tenant screening
Property management software automates tenant screening by offering online applications, automated background checks, income verification, predefined screening criteria, application review workflows, communication features, and ensuring compliance and data security. Prospective tenants can submit applications online, eliminating the need for physical paperwork.
The software integrates with screening services to automate background checks, including credit history, criminal records, and eviction records. Income verification is streamlined by allowing tenants to securely upload financial documents for automated analysis. Property managers can define specific screening criteria, and the software automatically compares applicant information against these requirements.
The software facilitates an organised review and approval workflow, allowing property managers to evaluate multiple applications efficiently. Automated communication keeps applicants informed throughout the process. Property management software ensures compliance with regulations and maintains data security. Overall, it simplifies and automates tenant screening, saving time, reducing manual effort, and improving accuracy for property managers.
Collecting rent
Property management software automates rent collection by providing online payment portals, automated rent reminders, recurring payment options, late fee calculations, tenant account management, integration with accounting systems, and reporting and analytics features.
Tenants can make rent payments securely and conveniently through online portals using various payment methods. The software sends automated reminders to tenants about upcoming payment due dates, and tenants can set up recurring payments for automatic deductions. Late fees can be automatically calculated and applied based on predefined rules.
Tenant account management allows property managers to track payment history and outstanding balances. Integration with accounting systems streamlines financial record-keeping and reporting. Property managers can generate reports and analyse rent payment trends. Overall, property management software simplifies and automates rent collection, providing convenience for tenants and efficiency for property managers.
Lead generation
Property management software automates lead generation through customisable lead capture forms, automated lead tracking, email campaigns, lead scoring and segmentation, integration with listing platforms, lead analytics and reporting, and communication and follow-up automation. The software simplifies the process of capturing potential leads by providing forms on websites or landing pages.
Leads are automatically tracked and organised, eliminating manual data entry. Email campaigns and marketing automation nurture leads and provide property information. Lead scoring and segmentation prioritise leads based on predefined criteria. Integration with listing platforms ensures up-to-date property listings.
Analytics and reporting features enable property managers to track lead generation performance and make data-driven decisions. Communication and follow-up automation maintain engagement with leads. Property management software automates lead generation, saving time, improving lead management efficiency, and enhancing marketing efforts for property managers.
Maintenance requests
Property management software automates maintenance requests by providing an online portal for tenants to submit requests, automated notifications to property managers, generating work orders, assigning and dispatching tasks, tracking request status, facilitating documentation and communication, and maintaining a maintenance history for reporting.
Tenants can easily submit maintenance requests through the online portal, triggering automated notifications to property managers or maintenance teams. Work orders are generated automatically, containing all necessary details. Property managers can assign requests to specific staff members or contractors, who receive notifications and can begin addressing the issues. The software enables tracking and provides status updates to tenants.
Documentation and communication related to requests can be done within the system, ensuring a centralised and organised process. The software also maintains a maintenance history for future reference and reporting. Overall, property management software automates and streamlines the maintenance request process, improving efficiency, communication, and documentation for property managers and enhancing the tenant experience.
How do I automate my rental property?
There are a number of ways that you can automate a rental property:
- Install a smart lock system to provide keyless entry and remote access for tenants.
- Consider installing a smart thermostat to regulate temperature and save energy.
- Use smart lighting with timers or motion sensors to enhance security and energy efficiency.
- Install security cameras for remote property monitoring.
- Employ a property management software to streamline rent collection, maintenance requests, and tenant communication.
- Integrate smart appliances for convenience and energy savings.
- Implement an online booking system for tenant screening and lease agreements.
- Use automated payment systems for rent collection and bill payments.
- Leverage digital marketing strategies to attract tenants and streamline the rental process.
- Continuously explore new automation technologies for ongoing property management enhancements.
Which property management task should you automate first?
When automating property management tasks, start by automating rent collection, maintenance requests, and tenant communication. Use online payment systems and portals for rent collection, enabling tenants to submit maintenance requests and receive updates digitally. Streamline lease agreements and documentation with electronic signatures and digital document management.
Automate accounting and bookkeeping processes using software or professional services. Leverage online platforms for property marketing, listing rentals on real estate websites, and using social media. Prioritise tasks based on your specific needs and focus on those that will bring the most efficiency and convenience to your property management workflow.
What is the best property management automation software?
MRI Software provides a range of software solutions for real estate agencies that require a smarter way to manage and automate their property management services.
Contact MRI Software
To find out more about how we can help, please request a demo or call 1300 657 700.
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