Last modified on June 18th, 2014
By Alexis Hammond
If you haven’t already automated your rental application process, you may be wasting incredible amounts of administrative time throughout the tenant finding process. Automating your applications is important for a variety of reasons and can usually be done with very little effort. AppFolio has introduced an entirely mobile-friendly lease flow that helps property managers handle the leasing process from advertising the vacancy all the way through signing the lease. Here are 5 benefits to going mobile with your lease flow:
1. Increasing overall occupancy levels.
Automating your applications process means that it’s far more likely that applications will actually be turned in. When confronted with lengthy forms that need to be filled out manually, faxed and waited on, a prospective tenant might decide to think things through again or wait until later. An automated applications process is far less likely to discourage. Moreover, automated applications can be taken in at any time of the day and automated applications are open to a larger variety of people — such as those that are not currently within the area.
2. Ensuring that standards are kept.
By integrating your applications process with your other procedures, you’ll be able to ensure that nothing is missed. Automated applications will be able to tell whether information has been left out or if certain things such as current addresses are invalid. An application that is fully integrated into your property management solution can also submit information for background and credit checks at the same time.
3. Lowering overall costs.
An automated application process ensures that you have the lowest costs possible. With automated applications, you don’t need to spend lengthy administrative time on your applications. Furthermore, you’ll get more applications in for each vacancy — and this means additional application fees to offset the administrative costs that you do have and that you increase the likelihood of finding the perfect one.
4. Green and sustainable processes.
Automated processes are completely green and sustainable because they do not require physical media such as paper. If you’re running a paperless office, you may want to switch to an entirely paperless mode of resident interaction. Not only could you automate your application processes, but you could send contracts and other forms for verified e-signatures rather than sending them physically.
5. You can hook them in immediately.
As a professional, you undoubtedly know that it is always easiest to close a deal right away. If you delay at all in closing a deal with an interested party, you could potentially give them time to reconsider. Having an online and accessible application form can enable you to go through the process right away, thereby getting a new tenant and a happy owner. When showing your properties, you may want to keep a computer around for this reason.
Automating your application process is an exceptional way to reduce administrative overhead and thereby increase your profit margins. With an automated application process, you can ensure that nothing is missed, collect application fees and get your units filled faster than ever.