If there is a market that always seems to be growing, it certainly is the real estate market. In 2016, industry revenues rose from $217 trillion to $228 trillion, according to one research. This sector of the economy is quite diverse. While there are large real estate and asset management companies around the world, there are also people who rent a second home to make extra money. Whatever your situation, managing a property portfolio is complex. That’s why, today, we are going to tell you how to facilitate this process with custom property management software development. Let’s start!
Mobile applications for property management
You have probably already heard the term PropTech or Digital. It corresponds to projects in the real estate market that have recently appeared. This also applies to mobile applications, BMS platforms, and cloud solutions that help property management professionals organize their work, increase efficiency and reduce the burden of documents associated with property management.
PropTech also makes your property more attractive to residents looking for technical solutions and innovative products.
Digital projects include making online payments or automatic rent payments, accessing documents such as lease agreements through a cloud service and messaging apps, and receiving important push notifications and announcements.
You may have already used some of these services. You may even have added a few online solutions that help you with your work. Yet, with Inoxoft, you can do a lot more to move to real estate management through mobile apps and make your job easier.
The benefits of mobile apps for property management
It all comes down to work that you can actually get done by simply taking out your smartphone or tablet and connecting to the internet. Some applications can be integrated into almost every aspect of your property management business.
Why do you need it? Think about all the time you spend in the office looking through paper files or talking to residents about problems that could be solved online. Mobile apps for property management help you get out of the office to do other tasks.
They can also reduce costs by improving management efficiency and saving time for your residents, but that’s not all:
1. Marketing
So much goes into marketing your business, from email marketing and social media to traditional sponsorships and brochures. Yet, there are apps that can help you automate at least part of your marketing efforts.
For instance, resident apps or a real estate showcase are great for building awareness of your business and generating leads and can help you schedule and track posts on your accounts.
2. Comprehensive maintenance
Maintenance is becoming more of a priority for property managers and their residents, who expect everything to be fixed almost immediately after they make a request.
The property management software completely centralizes the application and verification process: you can create, share, manage and verify your own maintenance and repair request templates from your smartphone. You can even create a checklist for other employees to review for agreed requirements.
3. Rent
When you’re ready to sign a lease, property management software and its companion apps can also be a huge help, eliminating paperwork while saving every last document – even allowing prospective tenants to sign a lease from their smartphone.
You can also enable tenants to communicate with their managers and pay monthly rent directly from their mobile device in a mobile application.
Why is it important to maintain an application?
So you’ve launched a great mobile app after months of design, development, and testing. But the work is not over. Now the process of supporting the application is coming. If this is not taken seriously, then you can face quite significant financial losses and problems in customer service.
What does competent application support give?
- Improving user engagement. Low errors and smooth operation increase customer satisfaction. The happier they are, the less often they remove your app.
- ROI growth. Applications that are updated in a timely manner by following user expectations significantly increase the return on investment in the long term.
- More positive reviews and higher ratings. By fixing annoying bugs, you reduce the risk of getting bad grades and negative comments. And this, in turn, increases your position in organic search in stores.
- Positive user experience. A user-friendly application helps build strong good relationships with existing customers and attract new ones better.
Emergency support
In this case, unexpected and critical errors should be fixed. This requires an immediate response. They often happen suddenly and in the most unexpected place. After the “fixing” of the place where the bug is found, general testing should be carried out to assess that the situation has completely stabilized.
Perfection
Such support is based on the analysis of user behavior and feedback. Sometimes the hypotheses about the needs of the audience may turn out to be wrong, and only a feedback study will allow you to make the appropriate corrections.
Adaptive support
What was once an innovative technology will later become a relic of the past. You need to keep up with the latest trends, and this also applies to software.
Preventive support
You can not wait for the service to fall, but regularly conduct testing and identify potential bugs. At the same time, errors can be contained not only in the code but also in the design or logic of the application.
Final thoughts
To succeed as a real estate manager means to have the ability to work and supervise your properties very carefully. Obviously, properties must be monitored and maintained to a certain standard and this is especially important for those who act as landlords.
In this case, there are the basics of financial and business investment in real estate. If you are investing in real estate with the sole purpose of selling it, you need to make sure what factors attract the best interest of the buyer. And if you want to rent a property you will need a way to manage your monthly payments.
Yet, the property management process should not get bogged down in bureaucratic paperwork and there are many applications that make it easier to manage a real estate portfolio. As well, you can always get help from Inoxoft specialists in custom property management software development.