Apartment management is the process of managing your residence as well as managing the tenants. An apartment manager, the person who is responsible for the apartment, normally takes care of all the activities like:
Most people prefer to hire a third party to take care of all the activities that need to be taken care off. However, many would rather be able to handle their apartments by themselves, and have all the information. That’s why using online apartment management systems is a good option for many.
Online apartment management allows apartment managers to digitize their data and to carry out their tasks online. Online apartment management systems and services are widely available to assist apartment managers with their duties. Apartment managers can decide if they want a third-party online apartment management service to handle their apartment management, or implement an online apartment management software and manage it themselves.
There are numerous benefits for choosing to use online apartment management systems; first and foremost, your peace of mind, having everything done on a single platform. All your tasks as an apartment manager can be done online, however big or small the task may be.
Some tasks that can be done in an easier and faster manner are:
Using online management systems can also guarantee that information can be collected and stored securely.
Setting up Leases and Collecting Payments
Collecting all the documents that are needed from potential tenants is done much quicker through online apartment management. Sending and receiving all the needed documents from and to tenants is a whole lot faster when done with online apartment management solutions. Having the payments done on the platform is also faster as well. Tenants can automatically receive notifications when payments are due, meaning that you would not need to waste your time to constantly follow up with your tenants. In most cases apartment managers would have access to a dashboard that will deliver all the needed insights. For instance, it shows if there are any delinquent payments, and shows how many vacant apartments you have in case you’re renting out multiple apartments.
Reporting maintenance issues
Keeping the apartment looking and functioning at its best is key when it comes to leasing an apartment. When using an online apartment management platform, tenants can report any issue that comes up instantly. And as a result, you would be able to handle that same issue just as fast. Through using an online apartment management platform, you would be able to assign any reported issue to a staff member or repairman that will fix it.
Communicating with your tenants
With online apartment management platforms, communication between homeowners and their tenants becomes simpler and quicker. Most platforms have a chat feature, which allows seamless conversations on any concern that any party might have.
Using an online apartment management system can ease the process, making it more enjoyable. However, there is another way to take care of your apartment management duties, and that’s by hiring a third party apartment management service.
Hiring a third party apartment management service helps apartment managers take care of the on-ground tasks that online apartment management systems might not be able to do. Some of these tasks include:
Making things easier
Managing an apartment and constructing a lease is really time consuming, and can be counted as a full-time job. In order for apartment managers to have more time, or simply be able to get all the tasks done, they refer back to online apartment management services. When apartment managers work with a third party, they handle that process for them, which results in an apartment manager with time that can be allocated to other tasks.
Screening tenants more efficiently
A lot of apartment managers aren’t quite confident with the process of tenant screening. Tenant screening is an important task because it allows the apartment managers to determine who will be residing in their apartment. With the help of online apartment management services, screening tenants could be done easily and accurately, since experts working in online apartment management services have the knowhow and experience on how the process of screening tenants occurs. In this case, the owners can worry less about if the person staying in their apartment is a capable tenant or not.
Handling legal troubles
There are many federal, state, and local laws that concern your residence and tenants. Working with professionals would ease the legal process as well as bring you peace of mind, since they are already following the laws and regulations that are relevant to your property. When working with online apartment management service agencies, you wouldn’t need to constantly be distressed with the thought of accidentally violating some regulation or law, and as such you would avoid any pricy lawsuits or other legal issues that might arise.
Making the apartment a more desirable place
Staging the apartment entirely by yourself could be tough. However, hiring an apartment management service could help you by preparing and staging the apartment for you. This will more likely result in a greater rental price, an increased number of bookings, long-term rentals, and more noteworthy tenants. When apartments are staged, it makes them more in-demand, and ensures that the rental process runs smoothly and in the way that you want it.
Managing your apartments efficiently is important in order for you to keep all your tasks organized. Some apartment managers would rather use an online apartment management system, in order to avoid using a third party, and being able to secure all the information that they have. Nevertheless, apartment managers are not constricted in choosing only one of the available options, but rather they are able to use both online apartment management systems and apartment management services.
The biggest advantage of online apartment management solutions over third party apartment management services is the price: It is way cheaper to opt for an online apartment management solution. If you’re looking for an affordable and powerful online apartment management solution, we’d recommend trying and using RAY. Learn more about it on getray.com.