Automate Your Property Management Company
How Automation Helps Multifamily Property Management Companies
4 MIN. READ
Today multifamily property management companies have access to advanced software that can automate tasks to streamline operations and increase efficiency.
The property management business is a fast-paced, challenging, and rewarding occupation. Multifamily property management companies support renting out multiple units for families. They also handle the challenges of operations and maintenance, deal with contractors and ensure that the properties operate in the most efficient and cost-effective manner.
But the property management business has not changed much in several decades. Many of the processes in place are still manual. The industry often lags when it comes to embracing new technologies, including automation and integration. But you can take that step forward to put your multifamily property management company ahead of the competition, here's how.
Use software to automate
Many of the processes in multifamily property management companies are manual and tedious. They include dealing with contractors, managing projects, ordering supplies, organizing RFPs, and sorting out potential compliance issues.
Listing units for rent and onboarding new tenants can also be laborious processes. These are essential tasks that you cannot afford to skip, but it is easy to automate them.
What does it mean to automate property management? It simply means letting software applications do all of the aforementioned tasks electronically. Once you set up the program, it can manage the selection of contractors and simplify the supply ordering process. Furthermore, you can save and prioritize all documents and items, which helps take advantage of robust reporting and analytics.
This frees up time for the property manager to focus on other important things for the property.
Streamline to save time
Automating your operations can save you time and money by streamlining all the other paperwork associated with a multifamily property management company. When dealing with multiple contractors, there will be a lot of paperwork and correspondence. Automation streamlines this. You can reach multiple vendors via the software, saving time and ensuring a more unified and consistent approach.
Many of these companies still keep hard copies of paperwork in their offices, loaded into large metal filing cabinets. This was standard practice for decades, but gradually companies are modernizing and using software to streamline and simplify paperwork and organization.
Multifamily property management companies want efficient operations. The task of sourcing essential supplies to run your business should not be cumbersome. Ordering filters, pumps or tools can be simple when systems are used to enable fast and secure ordering, saved shopping lists for repeat purchases, and electronic quote requests. The result is seamless operations that your team will love.
Day-to-day operations that are automated and efficient empower your employees to tackle other challenges as they arise.
Limit your liability
Relying on manual records can be a hindrance. It takes time to file, locate and pull up documents when you must do it manually, and hard copies can be damaged or lost. When you are dealing with multiple contractors and vendors, insurance requirements cannot be overlooked. So it is important to use automated software that can save the items in a central location and send you alerts when COIs are out of compliance.
The last thing your company wants is litigation that exposes you to risk when it could have been avoided by using the proper automated software system — like Raiven.
Automate with Raiven
Multifamily property management companies demand efficient operations that save them time and money. Working smarter and leaner depends on having the right systems in place. All your routine operational tasks, like ordering supplies and onboarding contractors and vendors, can be facilitated with the use of automated software.
Limiting risk to your business is critical, and Raiven's automated software ensures that contractors stay in compliance. Contractor information is centralized and available for them to access in a portal where they can upload all required documents. This self-service system promotes visibility into contractor compliance and performance. You can quickly confirm whether licenses and insurance are up to date.
Raiven’s software platform is the answer to automate and simplify your business. It takes the pressure off your team to do the many tedious tasks required in your business. Let the system work for you to limit your risk, ensure compliance, and save you time and money. To find out more about how Raiven can automate processes and improve efficiency in your organization, visit www.raiven.com.