Everyone screws up now and then but making property management mistakes can cost you a lot. You can sour relationships with tenants, vendors, and owners. How do you keep all those balls juggling in the air successfully?
Good property management software can assist you in the follow ways:
#1 Help With Your Due Diligence
Property managers need to ensure that they bring the right people into the buildings in the first place. You should have a strong tenant screening process to cut down on turnover and streamline maintenance issues. Having an online application process by using software makes everything easier for you and your potential tenants.
#2 You Won’t Miss Maintenance
Missing essential maintenance is one of the biggest mistakes you can make as a property manager. If you skip or do not have it set up on a schedule, you miss the chance to take care of a minor issue before it turns into a crisis. Mobile property management systems have features to document issues during move in and move out and manage maintenance work orders.
#3 Paperwork Will Get Signed
You have to be sure as a property manager that everything in your business is properly documented and according to local laws. With a property management solution, you can establish document management systems to keep track of vital documents, including leases. With a strong move in and move out process, you also can establish protocols that lead you through the entire process. No one can remember everything, so this type of software can help you never miss a key step.
#4 No Communication Snafus
A major frustration of vendors, tenants, and owners is when a property manager does not return a call or an email. This is an even bigger problem when there is a major maintenance issue. If your tenant wants to talk to you right away and they cannot reach you, it damages the reputation of your company.
You can add a tenant and owner portal to your website so tenants and owners can easily communicate. They also can get regular repair and finance information and inquire about anything that comes up. If you think you need more call support, you can even add a call center to answer common renter questions.
No property manager will ever be perfect; we all are human. But most of us can be good property managers. It helps if we use excellent property management software to automate processes and make mistakes a rarity.