How To Add Value In Property Management
Add Value to the Pillars of Residential Property Management Services With the Right Technology
4 MIN. READ
Residential property managers hold a unique position - they are constantly at the crossroads of operational excellence and financial performance. And on the other side? A successful portfolio. Indeed, residential property management services encompass a wide range of activities that require attention to detail, planning and, ultimately, proper execution. If done right, you can expect to provide great value to your stakeholders and a satisfying experience for your residents.
So, let us examine what you, as a property manager, can do to add value to your organization and set you apart from the pack.
Pillars of residential property management services
Buildings need to operate efficiently and with the right teams and systems in place. Smart managers will not reinvent the wheel but rather use innovative systems to help them function at a higher level.
Essentially, work smarter, not harder. After all, day-to-day activities in this business can zap your time and energy. So, having the right systems in place will allow you to hone your focus on the things that require your undivided attention.
To identify where you can improve your operations, answer these questions:
- Is your preventative maintenance on a regular schedule?
- Do you have your supply ordering process dialed in?
- Have you automated the tedious manual processes that consume your time?
If you fine-tune these operational processes, you will be able to provide the best residential property management services in your area.
However, implementing these services may seem daunting. With the help of innovative software programs like Raiven, you can establish a sound foundation for your business. In fact, Raiven's robust platform allows you to automate many residential property management services and give your team the tools to be more efficient and productive.
Take a look at a couple of attributes below:
This can save you valuable time and money. For example, when you are going to bid for capital projects or for routine maintenance issues, the software streamlines the entire process. From sending out relevant information about the bid process to receiving and storing all of the essential documents to awarding and onboarding the winners and keeping them in compliance - Raiven manages it all.
In a non-automated world, this RFP program would take up serious time, and your team would likely dread the process. But with Raiven’s software, this entire sequence is smooth and simple.
Supply chain management
Having a full view of your supply chain is critical. Indeed, it will expose the areas that are weak and highlight where you can focus more time and resources. Raiven’s software gives you complete visibility of your supply chain and shows you:
- Who your suppliers are.
- What you are purchasing.
- How much you are spending.
- What your purchasing habits are.
This important data will enable you to make better decisions and set your company up for financial success.
Performance here will separate the good from the average. Using software and tools from leaders in the industry can help multi-family property managers save money and increase profits. This is where Raiven’s software shines.
In other words, the host of cost-saving features will put your team in a better financial situation:
- Raiven Marketplace. This online eProcurement platform aggregates many of the top suppliers in the industry and compiles them all in a central place. This gives your company access to thousands of supplies at discounted rates for your business needs.
- Raiven browser extension. As your team shops for essential supplies, this is where you can make a big difference in your bottom line. A lot of money is wasted when purchasing goes awry. Rogue spending can hurt NOI, so getting a grip on this area will give an immediate boost to your financial performance. The browser extension always works in the background. If your purchaser is trying to buy from an unapproved site, the extension will slide in similar products from approved sources and show the price comparison and savings. Your team can then add the approved items instantly into a universal shopping cart.
Add value with Raiven
When providing residential property management services, creating and adding value is one of your fundamental responsibilities. It is your fiduciary duty to your stakeholders and to your team to achieve both operational and financial excellence.
Fortunately, you can more easily accomplish this task using Raiven. Automate your operations while saving money on supplies to add value from all angles. Reach out today for more information.