Last modified on March 15th, 2019
By Elizabeth Millar
How do you spend your day as a property manager? Coordinating maintenance schedules with tenants and vendors? Manually converting spreadsheet data into relevant information you can use to track delinquencies and vacancy ratios? Trying to decipher the messy handwriting on paper applications? If you answered “yes” to any of these questions, you are wasting time, money, and energy. By leveraging the cloud, you can eliminate frustration and start banking more profit for your property management company.
Four Ways Property Management Companies Can Save Money Leveraging the Cloud
1. Boost profits by using the tools you purchase.
Spreadsheets are a great tool for small businesses, but as your clientele grows the volume of data can be overwhelming. Not to mention that manually updating spreadsheets increases the potential for data entry errors. Modern property management software comes with all the features you need to streamline your operation. From tenant screening to automating owner payments and tracking maintenance activity, you can shave hours off your daily workload by fully utilizing your cloud-based system.
2. Connect with service providers who diligently protect your data.
Building an online presence is not optional today, but there are some risks. Data theft is one. Choosing online partners wisely is the first step toward defending your company. Did you know that 63% of data breaches have been tied to outside vendors responsible for security functions such as system maintenance, support, or development? You can’t eliminate 100% of the security risks, but you can take necessary precautions. Screening your online partners and implementing strong security protocol is a huge step in the right direction.
Remember: Preventing data theft is always less expensive than reacting to a security failure.
3. Improve user experience and accessibility with mobile devices.
Enhancing user experience for everyone – staff, owners, renters, vendors, and other stakeholders – is essential. Whether you are in the office or in the field, you need to be able to connect from any device, anytime, anywhere. View marketing data, applications, owner statements, or maintenance orders on the go, wherever you are. When you add options to digitally sign leases and make payments online, you make the whole process easier and more efficient for everyone.
4. Take advantage of unlimited storage.
Whether you have limited physical space to store paper-based records, or you are more concerned about making sure your records are protected as part of a risk management policy, having unlimited storage is a good thing. Online file storage through your cloud software is secure and available 24/7 – no need to drive to the office to generate a special report for an investor or provide a rental history for an owner after hours.
Cloud-Based Technology Drives Your Property Management Success With:
- Access to real-time data, such as marketing stats necessary to promote your brand
- Security partners – tackle security risks with the best available technology – without investing heavily in on-site IT staff or equipment
- Web-based software to increase revenue potential and reducing operating costs
- Offsite data storage which reduces space required to maintain records and ensures your data is secure and available
- Well-oiled machine – a combination of manual and automated procedures designed to improve workflow and provide exceptional (often on-demand) customer service
Saving money shouldn’t be painful. Leveraging the cloud makes it possible to take control of the budget and increase profit.