While it's a common goal for many companies, growth can quickly become overwhelming when companies don’t have the right tools and processes in place. Manual processes and outdated efficiencies might work for small scale operations, but they will quickly become overwhelming and hinder the potential for successful growth.
The biggest thing holding most property management companies back from growth is a fairly simple fix. Many of these companies rely on time consuming, outdated processes that are terribly inefficient. These inefficiencies add up, leaving Property Managers strapped for time and unable to expand their portfolio. Fortunately, there’s a way you can grow your property management company without hiring additional team members. With the right software solution, you can deliver life changing efficiencies to your Property Managers, allowing them to take on more properties without working longer hours.
It’s not uncommon for property management companies to utilize several different software providers to keep their business running smoothly. Managing numerous tools, especially tools that aren’t integrated, is a huge waste of time for your Property Managers. Managing passwords, logging in and out multiple times per day, and most importantly, reentering the exact same information into several different tools is a huge time suck. Look for a tool that provides everything needed to manage your properties with ease in one convenient location.
Phone calls and emails are a major pain point for Property Managers, and rightfully so. Answering a simple question can take several precious minutes out of a Property Manager’s day. When Managers handle several properties, a couple calls from every property will take a large portion of their day, making it difficult to complete bigger projects. Look for a tool that aims to cut down on phone calls by allowing residents to submit reservations and work orders, as well as make payments on their own without having to pick up the phone. By selecting a tool with a digital bulletin board and resource library, you can make it easy to get important information in front of your residents, urging them to login to find their answers versus picking up the phone.
Not only do digital reservation requests and work order submissions cut down on phone calls, they also help cut down on management hours. When you don’t have a digital tracking tool in place, it’s easy for requests to fall through the cracks with unchecked voicemails and lost emails. Bringing this takes digital benefits your Managers in the following ways:
Interested in learning more about the inefficiencies that are preventing property management companies from growth? Download our free infographic!