Automating Property Management Processes Is No Longer Optional.

995 WordsMay 16, 20174 Pages
Automating property management processes is no longer optional. Computerization is rapidly changing the business world, and businesses who fail to embrace modern technology will fall behind their competitors and miss opportunities to expand and grow their market share. In this eBook, we 'll discuss some key processes every professional management team should deploy, and explain real-world benefits for your business. Property Management Processes are Ripe for Automation In The Future of Employment: How Susceptible are Jobs to Computerisation, written by C. Frey and M. Osbourne (2013), the authors suggest real estate agents are highly likely to see automation dramatically change the way they do business. Where zero equals no chance of…show more content…
Almost 80% of apartment renters prefer making online rent payments, while six in 10 landlords would prefer all tenants made digital payments. Integrated payment options include digital wallets, credit cards, eChecks, ACH transfers and debit card transactions. Electronic payment processing is faster than traditional collection processes, which means more control over the cash flow. Another key benefit is that companies can process owner payments electronically, eliminating costs associated with printing and mailing paper checks. Additionally, when integrated with property management accounting software, financial records are always up-to-date and error free. Key benefits of automating payments include: No more lost checks Ever payment received or generated leaves a digital audit trail Greater visibility. Easy to identify and address late payers and negative payment patterns Lower collection costs Secure portals protect privacy and assets Enhanced accountability The Effective Communication Channels Online portals are convenient for residential management stakeholders because they are available 24/7, from any computing device. Owners gain access to important updates, tenant payment activity and

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