Managing a portfolio of properties is no easy task and comes with a plethora of challenges. Unsurprisingly, the more properties your portfolio contains, the more difficult these challenges become. Property managers’ primary focus is typically time management and reduced costs, so how do you successfully manage a portfolio of 100+ properties and simultaneously save time and money?
No matter what your portfolio type, whether it’s student, private, social, commercial or agency, Arthur can streamline your management through automation and integrations to save you time and money.
Too often, property managers conduct their finances on spreadsheets and legacy software. Manual data entry into spreadsheets is not only time-consuming but can also increase the likelihood of errors. Managing 100+ properties means that large amounts of money and transactions are being processed each month, which can only make this aspect more difficult and overwhelming.
With Arthur, all property-related transactions are brought together into one platform, via our integrations with Quickbooks and Xero. These integrations allow you to reconcile your rental transactions and expenses with the click of a button. Financial information can be instantly synchronised, eliminating errors caused by multiple entries, saving those with larger portfolios countless hours of work while creating the most accurate overview of your financial status and performance.
Finding new tenants
One of the primary concerns of property managers is finding tenants for their properties, because if there are no tenants then there is no revenue. With so many properties in your portfolio, it can be a challenge to fill them.
Arthur integrates with a number of portals including Rightmove, Zoopla, StuRents and Facebook Marketplace. Through these integrations, you can publish your properties straight from Arthur to whichever portal you want. With more applicants coming in you will be able to quickly find the right tenants for your properties.
End to end property management involves several stakeholders, including tenants, property owners and contractors. Having a portfolio of 100+ properties consequently means that hundreds of stakeholders are involved in the end to end process, each with different requirements. Managing them all can, therefore, be a major challenge for property managers.
Like with finances, Arthur brings everything on to one platform to simplify processes. We are the only cloud-based management platform to have a suite of bespoke apps for each stakeholder type. By managing all stakeholders on one platform, communication between all parties is simple and efficient. This makes them infinitely easier to manage and saves hours of admin work as there are no separate records that need to be linked, compared and reconciled.
Maintenance requests and tenant retention
Maintaining 100+ properties and making sure they are all in the best possible condition requires a lot of work and organisation. There are certain things that need to be carried out on a regular basis, such as gas safety inspections. It is vital, and often a legal requirement, that these take place but with multiple properties and multiple deadlines it can be hard to keep track. Arthur automates reminders for each property so you know what needs to happen and when.
A big problem for property managers is also responding to maintenance requests made by tenants. Tenants, using their Arthur app, are able to make maintenance requests which then automatically creates a work order for contractors on the Arthur platform. This improved communication cuts response times resulting in improved tenant satisfaction and thus retention.
Expanding your property portfolio
Scaling your portfolio is no easy task, especially when you already have a large number of properties to manage. Your time, resources and money are already stretched trying to cover your existing properties, so how do you find the time and money to expand your portfolio? By improving the efficiency of the property management process, as outlined above, Arthur saves you both time and money which you can then reinvest in growing your portfolio.
Try 30 days free to see how Arthur can help you manage your property portfolio.