Using Technology for Amenities Management
This is the full description of my blog.
If you are a real estate business owner or investor, you understand the importance of technology in streamlining operations. Many of the technological solutions you are already using have modules available to help you manage your property’s amenities and maximize your investment. How do you decide which of these tools will best round out your existing property management software?
Over the past few years, amenities management has drastically changed the multifamily housing experience. Many of today’s residents live and work from home. This means flexible environments and resident services are key. While traditional amenities such as air conditioning, parking, and dishwashers are still valuable, certain other amenities have now become essential items:
Software today allows you to automate the entire property management lifecycle. It facilitates your daily operations and can streamline the rental process. These systems give your prospects an exceptional resident experience before they ever even walk in the door by offering a 100% digital leasing experience. From virtual tours to online applications and payment processing your prospects can rent from the comfort of their own home. Meanwhile, your leasing team may use the same tools for marketing, lead tracking, and tenant screening.
Reliable cell phone reception
Soundproof walls and private workspaces
Smart home technology
Recycling and community gardens
Amenities are essential to keeping good tenants, but which amenities draw the most prospects, and what’s their true market value? Integrated concierge tools make amenity management easy and give owners real-time insight into how often common spaces are reserved, or packages are dropped off at lockers. At the unit level, reporting can track which units and amenities get snapped up or remain on the market. These measurement metrics ensure you have the data you need when it comes time to raise rents or discuss renovations.
Concierge tools can be integrated with your existing resident portal and maintenance apps to give residents on-the-go access to pay rent, submit maintenance requests, and reserve guest suites or party rooms. Office staff in turn can use the tenant portal to share resident reminders or Friday night food truck menus. This access isn’t just for multifamily housing; students, commercial tenants, and many others can benefit from these convenient tools for digital communication.
Technology Enhances Vendor Relationships
Many amenities are services provided or maintained by 3rd party vendors. These are valuable relationships that need to be cultivated as well. Automating the onboarding, credentialing, and payments to these vendors increases visibility for vendors and AP alike. Some software solutions allow property managers to turn resident portal maintenance requests into work orders which in turn allow managers to create purchase orders and request vendor proposals through an integrated vendor portal. Automating these day-to-day activities reduces risk and time spent tracking lost invoices while increasing communication and allowing your office and maintenance staff time to focus on customer service.
Offering high-tech amenities to prospects and residents can feel overwhelming, but with proper planning, it doesn’t need to be. Software automation allows property owners to manage amenities and offer outstanding customer service while tracking property performance. For more information on which tools will fit into your existing process and how they can best be utilized, contact us today.