Converting your property management company to a paperless operation is both simple and necessary. Adopting an enhanced digital platform:

  • boosts your bottom line
  • reduces clutter
  • maximizes your exposure
  • lends a hand to the environment as well.

Whether you’re a full service property management firm or just getting your feet wet in the multifamily world, here are steps that you can take to streamline your operations, bolster your earnings, and stay on pace with the competition.

Electronic bill pay

 
The phrase “you have to spend money to make money,” doesn’t always have to be taken so literally.

Long term, perpetual investment in paper billing and other mailers to your tenants is costing you both time and money. A web-based paperless approach to billing cuts down on man-hours. It also removes the overhead spent on paper invoices and improves the likelihood of receiving payment on time.

Tenants can now pay their rents via the web portal at any time day or night, when it’s most convenient for them. This means:

  • No more trips to the post office
  • No more buying stamps
  • In a matter of minutes rent can be paid instantaneously after receiving the invoice via their email.

Maintaining maintenance

 
Paying their bill isn’t the only task that your tenants should be able to complete online. Whether you own/manage one property or 100, maintenance and repairs are a large part of your responsibility.

Allowing tenants to issue a paperless maintenance request via an app or on your website allows you to deploy the necessary resources to fix the problem. Your tenants don’t have to wait on hold, hunt down a superintendent, or reach you directly. Everybody wins.

Web presence

 
A website is no longer a nifty feature or an alternative way to contact a business. Your web presence is your lifeblood.

The previous recommendations ensure that your current tenants can easily access you and pay their bills. New tenants (and investors) need to find you on the web. Commanding high web traffic is crucial for your brand’s visibility.

This article on mobile-first strategies will give you can’t-miss tips on how to position your site at the top of search results.

Conclusion

 
Prioritizing a digital presence over a paper one is crucial for businesses of all sizes. Make sure that your web presence is primed for a digital world and that your tenants have clear, paths to fulfill their duties.

Related Articles:

 
The Do’s and Don’ts of Accepting Online Rental Payments

What’s the Best Multifamily Property Management Software for You?

Four Resident Technology Strategies That Will Keep You Competitive

The following two tabs change content below.
Avatar
Theresa Bradley-Banta writes about investing in real estate while avoiding the pitfalls that plague many new investors. She is a 2017 PropTech Top 100 Influencer and winner of 14 American and International real estate awards for her website and real estate investing programs. As featured on: The Equifax Finance Blog, AOL’s Daily Finance, Scotsman Guide, The Best Real Estate Investing Advice Ever Show, Stevie Awards Blog, Rental Housing Journal, and Investors Beat among others.

You'll Love This.

Get our free download & educational emails right to your inbox.

 

If you change your mind, you can unsubscribe any time in the footer of our email messages. See how we respect your privacy.

You have Successfully Subscribed!