Social Housing has faced big challenges in 2020. The sector managed to remain financially stable between 1 April 2020 to 30 June 2020. Rent collection remained stable at 97% in aggregate, according to the Regulator of Social Housing. Available cash balances also increased to £6.4 billion.
However, economic uncertainty from the March lockdown persists. Here’s how the social housing sector can benefit from adopting a property management software solution.
Time is a valuable resource for a property manager because the efficiency of a task depends on it. Having a clear system of communication between a manager and tenant can minimise any potential delays.
With further economic uncertainty looming, communication will become even more crucial. Property management software enables a seamless journey of updates for all parties through automation.
Cloud storage for vital documents allows managers and tenants to access their information anywhere, anytime. This becomes significant as the possibility of more lockdowns increases.
As outlined in the RSH quarterly survey, rent arrears rose by 0.5% compared to the same period last year. The lockdown and rise in unemployment resulted in increases in rent arrears and void periods.
As the uncertainty of rent payments continues to be a concern, effective financial management will be critical. With property management software, managers can automate rent reminders. This minimises tenant arrears across the housing market.
With Arthur, you can manage any rent schedule with our flexible payment module that integrates with both Xero and Quickbooks. Our software also automates the process of tracking universal credit payments to save you time and resources.
The March lockdown led to a backlog in repairs. Lockdown regulations and outdated maintenance systems meant repair requests in the sector rose significantly. However, processes to efficiently manage them were absent. Property management software can expedite the maintenance process.
Arthur’s bespoke apps for every stakeholder enable property managers and tenants to handle repair issues in a streamlined, flexible system. Tenants can report issues via their own tenant app. Managers can then pass on work-orders for those issues to contractors and monitor their progress with the contractor app.
Arthur’s COVID Profile Features
As part of the ongoing commitment to improving our service offering, Arthur has introduced the COVID Profile and Vulnerability Profile. The new features are designed to help property managers and tenants as further restrictions come into effect.
Tenants can complete a COVID profile that shares COVID related information with their property manager. This then can be updated, ensuring that communication is clear as the situation develops. The Vulnerability Profile gives tenants the opportunity to disclose any vulnerabilities they may have with their landlord. This promotes concise, effective dialogue between property manager and tenant during these uncertain times.
To find more about how our property management software could help you, try a free trial by clicking here.