5 Ways to Use Technology to Improve Property Performance
Remember a few years ago when everyone was saying, “There’s an app for that” so often you wondered if technology was going to replace humans before the end of the decade? Love it or hate it, technology is firmly rooted in every industry and many companies couldn’t get through the work day without it.
The good news is that technology can boost performance and increase property revenue if managers invest time to find the proper tools, train all staff members and encourage everyone to use the tools correctly.
Here five tech tool examples and how property managers can use them to boost performance and outcomes.
Number 1: Inventory Management
Finding an efficient system to track resident supplies and maintenance inventory is something many property managers dream about. With solutions like My Inventory Manager, an app designed for use with iPhone, iPad and iPod Touch devices, managers simplify inventory control with instant access to a full list of items in storage.
Number 2: Maintenance Dispatching
Sometimes a cloud-based system is more helpful than an app. AppFolio Property Manager maintenance applications allow property managers to streamline maintenance services. The software allows residents to request service online and lets managers log maintenance tickets, communicate with contractors and expedite services quickly.
Number 3: Competitive Comparisons
Whether you use a stand-alone-app or a module integrated in a property management software package, access to up-to-the-minute local data gives property managers a snapshot of the local rental landscape. Gaining useable information about real-time inventory and current competitor rental rates allows leasing agents to adjust rates and fill vacancies quickly.
Number 4: Deploying Mobile Devices
Tablets offer myriad opportunities to streamline operations and boost productivity. Along with accessing valuable cloud-based technology like the apps and software mentioned above, tablets give leasing agents an opportunity to take prospects on a virtual tour when they can’t leave the office.
Some properties find that iPhones and tablets are excellent collections tools, too. Instead of sending a text or posting a message on the resident portal about past due rents, an employee can visit the apartment home with a company tablet and allow residents to make a payment immediately during the initial contact.
Number 5: Scheduling Customer Engagement
The nature of multifamily property management is fluid. Along with scheduling tours and interviews, staff must be flexible enough to accommodate a significant volume of walk-in traffic. Scheduling software can help your property manage people, resources, events and even major renovation projects for your community.
Scheduling software that allows prospects to book a tour when it is convenient can save properties hours of valuable time each week spent on the telephone. Depending on the scheduling software package, property managers can adjust schedules by:
- Notifying employees an uptick in traffic is expected.
- Allowing off-duty employees the opportunity to pick up extra hours precisely when needed.
- Scheduling routine tasks to accommodate self-scheduled prospects.
Adding new technologies to your property tool box probably won’t be without at least a few challenges. You’ll want to carefully research products and companies and some technology requires a substantial financial investment.
However, deploying innovative solutions to boost performance and increase return on investment can pay off when you get everyone excited about technology that saves time, money and resources.
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AppFolio, Inc. develops Property Management Software that helps businesses improve their workflow so they save time and make more money. Appfolio submits articles & blogs including topics of Resident Retention, Improved Owner Communication, Time Management, and more.