Last modified on April 13th, 2020
By Brittany Benz
From social distancing mandates to eviction bans, property management businesses across the country have had to change their workflows and policies to adapt to the constantly changing environment. During these uncertain times, using a cloud-based property management software that consolidates all of your data into one system can work to your advantage. And if you’ve been wanting to spend more time getting to know your business data, now’s a good time to take a look. Here are three ways having mobile access to real-time data can help you maintain business continuity:
1.) Get Instant Insights
One of the biggest benefits of a cloud-based system with real-time data is that you can access it from anywhere. And with property managers now working from home, this has proven to be especially true. Having a mobile, all-in-one system gives you the ability to access the performance of your properties from anywhere on any device, and also customize your reports. For instance, on AppFolio Property Manager PLUS, you can create customizable reports, such as income, cash flow, and rent roll. A mobile data system can also save you time and make life easier, as you no longer have to manually enter information from paper files or transfer spreadsheets to accounting software.
2.) Make More Strategic Decisions
As property managers wait to see how coronavirus will fully shape the real estate industry, they can use the downtime to get a head start on revising their 2020 and 2021 business strategy and making plans for the future. With Innovative property management software you can drill down into dashboards and charts with data visualization, so you can make more strategic decisions. You can also compare performance across properties and regions, which is essential as some regions may be more affected by COVID-19 than others.
3.) Keep Everyone in the Loop
With your associates and owners working remotely, it’s important to stay connected and make sure everyone is on the same page. Along with providing instant performance insights, a real-time property management solution can also give your team visibility into what’s going on at your properties on an individual level. From which units need emergency maintenance repairs to which units have lease renewals coming up, mobile technology can make it easier to maintain transparency and efficiency. Plus, because everything is online, you can quickly and easily share performance reports with key stakeholders, so everyone can stay up-to-date and weigh in on the decision-making.
Mobile access to real-time data can give you the confidence you need to understand your business performance in times of disruption. If you don’t already have a cloud-based property management system in place that allows you to instantly access your data from anywhere, now is a great time to think about implementing one. If you have the right technology tools at your fingertips, you’ll be able to make more strategic business decisions and adapt to whatever may come your way.