Lease management: it's an integral part of your business as you aim to ensure good tenants stay on and challenging tenants move along. When you need to renew the leases of your tenants, you need a process that's smooth and simple. Using a property management system saves time for renters and property managers alike.
Reminding Your Renters
Your tenants are busy just as you are, and they need a reminder that it's almost time to renew the lease. Using a property management system, you can set up automatic reminders that allow you to ensure that your renters get contacted in adequate time to renew. If you find you spend a tremendous amount of time tracking leases and crafting reminders, an automated leasing system can help. An article from TechTarget discusses how one small business automated its scheduling systems and turned what used to be an eight to sixteen-hour task into one that only took 20 minutes.
Adjust Your Notifications
As a small business owner, much of your money is tied up in employee salaries. As BusinessZone mentions, "you have to pay yourself and your employees for every hour that you all work, and this is your most expensive overhead." Saving time saves money, so it's important to streamline as many processes as possible. Automation can be a great way to refine processes.
However, you can't create one size fits all notes to your tenants either. Does this mean that you need to create unique reminders for each of your tenants? If your particular lease has a few quirks or additions, you don't need to worry. A property management system can not only help with leasing automation, it can assist you as you customize leasing reminders and emails. This means that you can send different messages to specific individuals or to different parts of your tenant population.
Managing Changes in Fees
If the rent is going up, you need a way to communicate this to your tenants. You also want to document that communication so you can ensure that you know when all of your tenants received their rent notices. If your rent is changing with the lease, use a property management system to keep everyone informed and up-to-date.
Online Tenant Portals
When a tenant needs to notify you about a problem, has a question, or needs to move, an online tenant portal will allow you to respond to your tenant's question easily and efficiently. Tenants can use your online portal to communicate questions about their lease, concerns about rent changes, and other issues such as problems with their property. When you're in the middle of renewing your leases, an efficient, trackable online system allows you to easily track your tenants' communication in a single location.
When a Renter is Moving On
You don't want to lose a tenant, but sometimes it happens. Make this process easier and more efficient with property management software. This software helps you with communication and the tracking of inspection results, credit reports, references, and security deposits. By taking away the burden of managing reminders, leasing automation allows you to focus on marketing and finding the right tenant for your property.
Are you trying to refine your rental processes and upgrade the way you do business? If so, Propertyware can help. Our cloud-based software products help you maintain your property management processes so that you can focus on business growth. Sign up for a free online tour of Propertyware today.
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