Being a property manager can be extremely hard, especially when there is a lot of paperwork to fill out and go through. Thankfully, lease automation is becoming a fast-moving thing that many organizations are adopting.
Compared to the traditional way of leasing, there are so many benefits that come with automated leasing. In this blog post, we’ll be explaining lease automation and the benefits associated with it.
What is Automated Leasing?
Automated leasing involves using a software-based system to decrease the amount of time and exertion you’d require in the entire renting process. More specifically, any action taken to automate the leasing process and reduce the cost of manual effort can be referred to as lease automation.
There are several processes between effectively selling your home to a prospective renter and signing the lease. You must, among other things, provide prospect tours and ensure that they get and finish up the entirety of their paperwork. You must do all these while making sure not to bridge any law that could put you or your client in future troubles.
Remember, we’re talking of multiple prospects here. So this could mean juggling dozens upon dozens of renters’ insurance information, deadlines, paperwork, tours, and communicating with multiple prospects. If you’re fast enough, you could get it done in weeks.
Manually doing all of these could take its toll on you. This is where automating your leasing workflow comes in.
There are a lot of benefits that come with automating your leasing process. Because of this, the idea comes highly recommended by a lot of people. Below are some of them;
Of course, this is the most obvious benefit so it’s mentioned first. The good thing about automated leasing is the amount of time you save in the whole process. You no longer need to spend incalculable hours spent checking and triple-checking forms, automated leasing does the work for you.
Better Resident Satisfaction
Residents are more likely to have positive perceptions of your property if they have a pleasant leasing experience. With the aid of leasing automation, a resident can sign a lease from anywhere. Use the same technologies to assist a resident in renewing their lease. This will boost the retention rate of residents, provide a better experience for prospective renters, and keep everyone satisfied and happy.
For decades, computers have made data collection and entry easier in various businesses. Lease automation outperforms the traditional pen-and-paper approach as it overcomes readability difficulties and mistakes that commonly arise when copying or resending.
More Accountable And Better Record Keeping
Automated leasing is effective in light of the fact that it eliminates the requirement for paper documenting.
Usually, a lease manager is responsible for recording and tracking several renter’s data. However, this is simplified when automated. When you automate, your records are easily collected and stored on the cloud. This makes it safe and easy to retrieve when needed.
Still, wondering if automated leasing should be part of your process? Yes, it should! Believe it or not, leasing automation is a must-have! We know you’ve done just fine without it these past years. But trust us, it’s something you do not want to miss out on. It’ll truly keep your company ahead of the competition and ahead of the curve.