6 min read
Benefits of All-in-One Software for Property Management
Maybe you’ve been here before: You’re juggling a mess of applications, fielding phone calls for property showings, and wondering where that screening...
Maybe you’ve been here before: You’re juggling a mess of applications, fielding phone calls for property showings, and wondering where that screening report went — is it in your inbox, or did they text a link?
That’s the life of a landlord. Each day brings a new challenge that forces you to dig through a pile of papers or scroll to the bottom of your text message app to find clarity. It’s ironic in a way; technology has made it easier to complete some property management chores.
But in another, managing all those tools is a job in itself. So, while you have a singular goal of efficiently managing your properties, you have a hundred different digital means of accomplishing it. Plus, there’s the actual property to manage.
If you can relate, consider an all-in-one property management solution to get organized, boost efficiency, and elevate tenant satisfaction.
Let’s start with a scenario. In the past, maybe you hammered a “For Rent” sign into the grass and waited for applicants to call. Then, you would ask some simple questions on the phone and tell the interested party to come by for a showing.
If they liked what they saw, you’d hand the renter an application. They might’ve filled it out while you inspected the water heater. Or maybe you’d ask them to return with the completed application the following day. Then, you’d review the application and put it in a folder. Because you saw each applicant in person, you had a vague idea of who was who. It doesn’t work like that anymore.
Now, renters from all over the U.S. can find your property on listing sites like Redfin, Apartments.com, and Craigslist. According to the National Apartment Association, around 98% of renters now use online tools to find their next home. You’ll never meet most of the people who apply, and each website sends emails for every lead you generate. You may get 10 leads from six different websites. Good luck piling all of that into a folder.
Now, consider this: The previous example related to just one aspect of a rental property business: applications. Tenant screening reports, lease agreements, rent collection, and property advertising also require manual organization to keep up with everything.
There’s an easier way. Roll all of these individual tasks into an all-in-one property management software solution. It’s already organized and built for these exact needs. Want to review maintenance requests? Click on the Maintenance tab in your dashboard. Wondering if a tenant paid rent? Tap the Payments button. The same goes for leases and advertising. It beats digging around in old files or rent receipt books.
The key to saving time and money is accomplishing as much as possible in the fewest steps.
Automation is the key.
The best way to regain your time is to automate the tasks that consume it. Rather than spending hour after hour on repetitive tasks like sending emails, processing rent payments, and managing maintenance requests, use software to do those things for you.
When you have more time, you can focus on strategic activities to keep your cash flow positive, such as building relationships with tenants, optimizing properties, and growing your business. When your tenants are engaged, and your properties are nice, you’ll have fewer vacancies.
Want a surefire way to waste two hours? Make a mistake, forget about it, and then realize it without knowing where you went wrong. Thankfully, automating manual tasks can remove the human element from the equation.
Use automation to minimize mistakes in rent calculation, late fee application, and financial reporting, ensuring accuracy and consistency.
Automation can help you create smoother, more efficient workflows by connecting disparate parts of your business. For example, if you syndicate your listing to dozens of websites, connecting the leads from those listings to your tenant screening process will save you the time spent manually inputting all the tenant’s information.
Here’s another example: What if a tenant-submitted maintenance request resulted in a vendor picking up the ticket and completing the work at a price you set? It’s possible with the right all-in-one property management software solution.
A happy tenant is less likely to leave after a single lease term. So, how do you keep your tenants happy? You can offer them tools to actively participate in their rental housing.
A key tool to enable active participation is a tenant portal.
Give your tenants one place to pay rent, submit maintenance requests, and communicate with you. Just like you, tenants are forced to use myriad methods to manage their end of the agreement. Rather than forcing them to withdraw cash from the bank, email maintenance requests, and text/call you, put everything in one location they can access at any time.
Those same online portals deliver more than just payment and maintenance options. They also record critical events to help build transparency and trust. Think of the portal as a central repository for everything related to the rental arrangement, including the lease agreement, payment records, and associated fees.
Finally, because tenants know they can access all the information about their rental anytime, they’re less stressed when something comes up. What if they must travel out of state right when rent comes due? Or, what if you need to leave the state and a pipe bursts?
A tenant who can rely on their tenant portal knows they have the tools to handle any circumstance.
Maybe you needed a single lease agreement or had to screen a tenant, so you gave TurboTenant a shot. But know this: An all-in-one property management software platform can help you with more than just that single aspect of your business.
It can also help in intangible ways, such as helping you get organized, saving time, and increasing trust with your tenants.
Create a free account if you haven’t already signed up for TurboTenant. And if you have a login, consider poking around the software to get a better feel for how it can help you streamline your business.
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