How technology has changed the world of property management
Technology has unarguably changed our lives. From the way we socialise and communicate to the way we work. We have now out-dated both the desktop system where you installed from a disk and cumbersome financial dinosaurs like Sage. The future is versatile applications that can be accessed from anywhere and updated at anytime along with automatic payment software like Xero, payments are simplified down to the touch of a button.
So what do these systems offer a landlord or property manager?
The main benefit of mobile application is time efficiency. By being able to respond to anything from anywhere (with internet/4G), problems can be responded to immediately, sent off to contractors and solved quickly. This reduces the amount of tasks hanging over you and means you no longer have to be stuck in front of a computer or in an office to sort out problems.
One of the best features available with this type of software is the dedicated accounts for third parties. This means tenants get their own apps with functions such as raising issues where they can upload photos of problems straight to the property manager. Access to all their tenant details such as relevant locksmiths, entry codes and tenancy agreements are all stored for access at anytime.
Of the other third parties who can get bespoke accounts, there are many benefits to contractors. The best systems allow contractors to quote for work, upload invoices and even access tenant contact details once a job have been accepted. This means that communication between all three parties (landlord/property manager – tenant – contractor) is all in one place.
Another advantage to this cloud-based software is that everything is in one place. From tenants and property owners to contractors and letting agents, all your contacts are in one, easy to find place. You do not need to spend time looking for that plumber you used 6 months ago or call everyone to find out which tenant had a problem with their oven. Basic models have a on-board contacts section and advanced models offer an inbuilt search button to find anything related to a key word.
Automated functions are by no means new to this type of system but previous desktop-only versions only allowed simple automation such as rent reminder emails to be sent. New property management software however allows a greater depth of automation meaning almost all tasks can have a pre-set action from contractor invoice creation to health and safety certificate renewal.
What are your options?
Of course there is the alternative of outsourcing your property management to other companies that take a cut of rent but with the recent Foxton’s scandal there is little faith in who these companies are really working for. Now more than ever, technology has made property management achievable for thousands more landlords.
Now, there are a lot of different property management systems out there and choosing the right one can seem as daunting as making the change over. However, if you are looking for a truly mobile and comprehensive system, none offer the range of functions that Arthur does. Technology has revolutionised the future property management market and you can try it free today.