Managing properties involves performing repetitive tasks that can be automated by software, but there are tasks you can automate without directly using software. For example, outsourcing your tasks can also help you automate your investment business.
If you haven’t started leveraging the power of automation, you’re working too hard. Here’s how you can automate your property management responsibilities to work less and become profitable faster.
Hire a property management company
Property management companies are a landlord’s best friend. When you have a team of professionals taking care of your tenants, you don’t have to do any hard work. For example, you can hand over all of the following responsibilities:
- Marketing and filling vacancies
- Filing eviction lawsuits
- Handling tenant complaints and requests
- Scheduling inspections, repairs, and maintenance calls
- Performing a walk-through
- Collecting rent and late fees
- Communicating with tenants who are behind on rent
- Tenant screening, including credit and background checks
- Checking references
- Verifying employment
Not having to manage all of these responsibilities will free up an enormous amount of your time. Connect with a property management company in your area to start automating your investment business.
Start using supportive software
Whether you hire a property manager or hang onto your responsibilities, you need good software to manage your finances.
You can also get software to find new investment opportunities, view and post listings, find lenders, generate leads, and invest in crowdsourced real estate. Here are just a few examples of these types of applications.
1. The REWW SMART Suite
The SMART Suite was built by investors for investors. This app makes it easy to find and communicate with private lenders. You can also use the SMART Suite application to find cash buyers and motivated sellers.
The SMART Suite also uses comp pulling tools for property valuation, which will help you negotiate closes and get contracts and loans faster.
2. Act – a powerful CRM popular in the real estate industry
There are many CRM applications around, but real estate investors have been using Act for decades. Like most high-end CRM solutions, Act makes it easy to manage your email marketing campaigns, capture and segment leads, and uses marketing automation.
Ideally, you should have a marketing manager to handle your CRM software since the learning curve is steep. Also, to get the most benefit from a CRM solution, it helps to have marketing experience and expertise.
3. Asana for project management
When you need to manage your investment-related projects and tasks, Asana is a powerhouse of an application. Although, it’s deceptively simple on the surface. The user interface is so easy to use and requires minimal clicks to create and edit projects, tasks, and descriptions.
With Asana, you can create property-related projects for things like renovations, repairs, and maintenance and then create individual tasks under each project. You can even assign tasks to your contractors and have them check tasks off as they’re completed. That way, you’ll have a truly automated maintenance system.
If you’re still using paper checklists, try Asana for a month (it’s free!) and you’ll probably never go back to paper.
You can’t snap your fingers and build a website, but you can use Placester, which is almost the same thing. Placester is a DIY website platform specifically designed for people in the real estate industry. Agents, investors, brokers, and property management teams all use this platform to support their businesses along with their clients.
While you can use any DIY website platform, you’ll have to find a real estate template and there probably won’t be many to choose from. You can use other templates, but the elements will probably be in the wrong spot.
Using Placester ensures that you’ll have access to top-quality professionally designed real estate templates.
Automating your investment business will help you grow faster
From 2017 to 2019, the percentage of businesses using automation for critical processes jumped from 16% to 50%. The current stats aren’t available yet, but that number has likely grown even more. Businesses, including those in the real estate market, are quickly realizing the powerful capabilities of automation.
If you want to grow your business, you need to streamline your operations. Using automation is one of the easiest and most efficient ways to streamline. Streamlining through automation will help you become profitable in a shorter period of time. Best of all, your investment business will grow faster when you automate your tasks and processes.