Property Management Technology
Technology is becoming the way of the world now; there’s probably not much these days that’s not done electronically. Our Appfolio program is one of the best programs out there for Property Managers and owners. I can’t say enough good things about this program. Below are three ways in which Appfolio uses technology to change Property Management.
One tech feature that is extremely important is the use of online portals. These portals enable owners and tenants to go online and access information about their accounts. This is especially important if you happen to be out of state or out of the country. It provides full transparency so you can see exactly what is going on with your property. You can see all financial transactions, including the documentation attached to those transactions. You can access property management agreements, leases, inspection reports, and anything you need. There is no need to wait until the end of a statement period to see what you earned and spent. All your information is available in real time!
More and more businesses are moving away from paper and it seems that tenants now need and want the ability to pay their rent online. Tenants can put in their bank account information and sign up for auto debits to pay their rent each month. This eliminates the need to rely on mail for a rent check to be collected. I’ve noticed that over 80 % of our tenants at Caron B Realty use electronic methods of payment. It’s good for owners too! It means you get paid faster and don’t have to wait to receive a check!
The application process is so streamlined with technology. In the old days, people would fill out applications by hand and turn in a check for the application fee. This means the process would take a few days to complete. Today, applicants can fill out an application within minutes! This saves property managers so much time because it allows for us to screen credit report and run a background check immediately. There’s no delay for data entry and the whole process is far easier and more efficient and its also lower your vacancy time too!
These are just are prime examples of our Appfolio Property Management System; there’s so much more this program can do. If you haven’t been taking advantage of this system or would like more information, please don’t hesitate to reach out to me.