Facility Automation

Property Automation (5 Ideas For Your Business)

August 31, 2022
4 minutes

How can you deploy property automation to accelerate workflows and streamline operations? This is the central question faced by many property business owners today. In the past, property businesses were largely reliant on manual processes and paperwork. However, with the advent of new technology, there is now a range of options available to automate various property-related tasks.

What is property automation?

Property automation refers to the use of technology to automate various tasks related to the management and maintenance of properties. This can include anything from automating rent payments and maintenance requests to managing tenant databases and tracking repair histories. There are a number of different ways that property automation can be deployed, depending on the specific needs of your business. You can start by pinpointing areas of your property business that would benefit most from automation.

Why does property automation matter?

Property business operations are typically bogged down with repetitive administrative tasks. This can lead to inefficiencies and delays, as well as increased costs. Property automation can help to streamline your operations and reduce your reliance on manual processes. This can free up time and resources that are better spent on other areas of your business, such as customer-facing activities.

How can you deploy property automation?

Rental Payments

Automating rental payment collections is one of the simplest and most effective ways to deploy property automation. You can leverage a tenant portal to allow tenants to make online payments. You can also use a portal to track payments, send reminders, and generate reports. With the right tools, you can integrate payment collection with your go-to accounting software.

Tenant Screening

Tenant screening is essential for ensuring that you rent to responsible and qualified tenants. By automating this process, you can quickly and easily gather the information you need to make informed decisions. Depending on the tool you utilize, you can outline your specific screening criteria in an online form, and use this data to generate candidate shortlists.

Rent Escalations

If you manage a large portfolio of properties, then automating rent escalations can help to save you a significant amount of time. By setting up automatic rent escalations, you can ensure that your rents are adjusted based on lease agreements. Some solutions enable you to raise the rents by a percentage or fixed dollar amount to align with your agreements and policies.

Lease Agreements

Automation can play a role in both the formation and enforcement of lease agreements. Some property automation tools offer the ability to track and manage lease compliance. This can include tracking late payments, sending reminders, and issuing violation notices. Additionally, you can store digital copies of lease agreements on various platforms for all parties to view.

Maintenance Requests

Fast-tracking property maintenance and repair requests is another key way to deploy property automation. By utilizing a tenant portal, tenants can easily submit maintenance requests online. These requests can then be routed to the appropriate team member or contractor for action. This can help prevent delays and ensure each tenant receives adequate and timely support.

Closing Thoughts

From automating rental payments to tracking lease agreements, there are a number of different ways that property automation can be deployed. By taking the time to assess your specific needs, you can identify the best automation solution for your business. This will help property managers optimize their workflows and deliver improved experiences for tenants.

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