Property Managers: 3 Tips for Modernizing your Leasing Process

In an industry dominated by dinosaur workflows, an innovative property manager needs resources and advice for modernizing their standard processes. While paper applications and lease agreements may have been useful for property management companies in the past, younger, tech-savvy employees are demanding more efficient business processes. Double-duty data entry can be cumbersome even for more seasoned employees. If you’re battling inefficiency in your organization and are looking for ways to modernize – here are some really useful tips for property managers.

Start at the beginning – and be comprehensive:
You need a really comprehensive, specialized line of business application that can help you manage all the details associated with your business. This is something that many property managers are starting to realize. According to an infographic by 360 Property Management Software, 43% of companies are unsatisfied with their property management software. If that weren’t enough to tell you that you need to be careful about the application that you choose, here’s another stat: 67% of those surveyed planned to change their software as little as 9 months after the survey was conducted. You need to start with a complete understanding of your workflows before you can choose a property management application that’s right for you.

Have a central place to post vacancies:
While you always want to make sure that you use multiple channels for posting your listings, be sure that you can efficiently post your vacancies within your property in a central location. Ideally your property management software would be connected to these vacancies so that you can manage your contacts and prospect inquiries for each property as they come in.

Process applications and leases digitally with eSign features:
This is a fairly basic starting point for property managers looking to modernize. Managing your application and lease process online will expedite how quickly you’re able to execute leases. eSign features ensure that documents are verified and signed securely without printing, making copies, scanning and wasting ream after ream of paper for a single tenant. 

It shouldn’t stop once the lease agreement is signed. You need to have an easy way to execute renewals, take payment and execute work orders. It may seem like a lot, but with the help of an IT professional, you can evaluate your options and make a decision that works for your business, clients and tenants.