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Property management automation is becoming a widely accepted practice among landlords, mainly because it exponentially makes the job easier. You won't even need an entire automated property management system to cover all tasks. You can choose which aspects to automate and which to do manually.
Listed below are the core landlord duties that can be streamlined using readily available tools, which won't only help with time-consuming tasks but also reduce the risks of human error.
Key Highlights:
- Automation streamlines repetitive landlord tasks, from rent collection and lease renewals to maintenance requests and accounting. Digital tools reduce manual effort and minimize human error while improving efficiency.
- Property management software can send payment reminders, track late fees, and even generate and sign digital lease renewals, ensuring consistent cash flow and tenant retention.
- Marketing and tenant screening become data-driven. Automation tools can manage rental listings, track leads, and perform background checks or employment verifications, helping landlords make faster, smarter decisions.
- Maintenance coordination is faster and more organized. Tenants can submit repair requests online, triggering automated work orders and vendor scheduling to ensure timely resolutions and better tenant satisfaction.
- While automation boosts productivity, sensitive matters like tenant communication, lease negotiations, and handling rule violations still require a personal, human touch.
1. Rent Collection
Collecting rent payments can be tedious, as it's not just asking for the monthly rent. You have to set reminders, send late notices, issue late fees, and more. Automating rent collection using property management software or other automation tools can eliminate the need to perform these tasks.
Depending on the product you use, you can even set automatic payment reminders. You must research the tools or online payment portals carefully and ensure they're secure, as they will have access to your tenants' payment details.
2. Lease Renewals
Lease management is easy enough when you have one tenant, but having several tenants means you have to note every lease term so you can remind them about lease renewals. Automated reminders can be sent to you and your tenant.
It can even make the lease renewal process easier, as automated tools allow tenants to sign lease agreements digitally. This keeps all parties involved from having to perform manual tasks, and you'll save time since it can automatically generate lease renewal documents.
3. Marketing
Marketing efforts are now data-centric, calculating leads to generate an effective marketing campaign, as well as considering which platforms are suited for your property. With property management software, lead generation becomes automatic, as it integrates with rental listing platforms and performs analytics.
There's no need for manual data entry, since leads are automatically monitored and organized. It can even show comprehensive reports to help you identify weaknesses in a marketing campaign, allowing property managers or landlords to adjust accordingly.
4. Maintenance Request Coordination
Maintenance requests need to be addressed as quickly as possible to ensure tenant satisfaction, but it's not as easy as some may think. You have to coordinate based on urgency and contact the necessary vendors to resolve the issue. Property inspections and maintenance scheduling are essential to avoid delays and prevent minor issues from escalating.
Property management software automates this process by allowing tenants to submit maintenance requests through an online portal and automatically generating work orders. It can even include vendor management, where you can streamline communication and payments to the service providers.
5. Tenant Screening
Property management automation tools can provide convenient features such as online application portals, automated background checks, employment verification, applicant comparison, and support for routine tasks in the rental process.
This aspect of automated property management, however, still requires human oversight. Even though property managers use this tool, they still review the data to ensure legal compliance when screening prospective tenants.
6. Accounting
Financial tracking is important in every business, as it shows how your expenses compare to your earnings. There are accounting software solutions you can use to record rent payments, along with expense tracking that keep transaction histories for maintenance costs, utility bills, and more.
To simplify operations, you can search for property accounting software that can automate repetitive tasks like utility billing or vendor payments. Since property management software automates financial management tasks, you reduce errors that can become costly if overlooked.
What Comes With Property Management Software?
That entirely depends on the tool you use. Since there are several products available to property owners, it's important to research the features included and how the property management software works.
Most software solutions include the basics, such as automating rent payments, scheduling maintenance requests, generating financial reports, and handling other routine tasks. Some may include integrations with access control systems, allowing you or your property manager to monitor surveillance cameras and smart locks.
Property Management Tasks You Should Automate
- Tenant Communication: Communication with tenants can be time-consuming if you have multiple properties, but you should still have a human element for important matters. Automated communication may suffice for maintenance management common tenant inquiries, but sensitive matters must be addressed personally.
- Handling Consequences: While it's important to penalize tenants for not following lease rules, you shouldn't leave heavier consequences to property management automation. Continuous late payments during rent collection, for instance, can be resolved by providing information about rental assistance instead of opting for eviction.
- Lease Negotiation: Digitally signing lease agreements can be convenient for both the landlord and the tenant, but negotiating terms requires strategy and empathy. Some may need improvement requests or special circumstances that need a human approach.
Property Management Automation FAQs
What are the benefits of automating routine property management tasks?
- It can help improve tenant satisfaction due to efficient and effective management, as well as track progress so you can make data-driven decisions. Simple features like automated notifications or lead generation can immensely help you streamline operations.
Are there disadvantages to automating routine tasks?
- Yes. You may lose the personal connection with your tenants, which can badly affect resident satisfaction. Over-reliance can also impact your business, since some automated systems require an internet connection or cloud access.
Which automation tools should I use?
- That depends entirely on what you need, so it's best to assess which property management duties you want to do manually, and which ones you don't. No-code tools are preferable, especially if you're not tech-savvy.
Can I completely rely on property management software?
- No. There are some tasks that still need to be dealt with personally. If you don't want any of the work and earn passive income, hiring a property manager is the best option. Most property management companies use in-house tools while still providing on-site presence for maximum efficiency.
Hiring a Property Manager Instead
Workflow automation can only go so far. Collecting tenant payments and sending automated alerts are easy enough, but to ensure the success of your investment property, you still need to handle certain aspects on your own or hire a real estate professional.
Harland Property Management has a team of professional property managers who can provide you with what you need. Our in-house tenant portal allows online payments and maintenance requests, and our property managers can handle everything else.
Leave your stress behind and be a hands-free landlord. Contact us, and let's discuss how you can benefit from our property management services.
