Wednesday, 09 May 2018 10:00 AM
Management Changes Product Announcements
The World of Paperless Property Management
LOS ANGELES, CA / ACCESSWIRE / May 9, 2018 / In the world of apartments and multi-family housing there is an endless number of forms, documents, and other paperwork that encompass the daily processes involved with managing buildings and tenants. Luckily for industry employees and residents alike, the concept of going paperless is both a very real and a very convenient option. Fortunately, there are many services available to help streamline the process of rental applications, leases, processing payments, managing inspections, service requests, posting community information and many other items that need to be communicated or tracked regularly. In today's technological age, there are many ways that going paperless can streamline and improve the way things work, Neil Shekhter notes.
Why Should I?
There are a multitude of reasons why this is a enticing option for property owners, rental managers and residents. From time savings to decreased risk of errors and fraud to increased security, the benefits are well worth the efforts. Converting to online applications and leases can significantly cut down on user error. Instead of entering information by hand, companies can now automate the process, which means less time spent on completing paperwork and increased accuracy of recorded information.
Offering paperless options for rental payment can also help with reduce the instances of fraud. Thieves have learned to monitor drop slots for rental payments to determine when bags are taken to the bank, so many property management companies are working with their clients to remove or seal their drop boxes. The elimination of rent checks also has impressive benefits. Some property management company's clients are seeing a decrease in late payments of around 50%, in addition to substantial decreases in the time required by staff to processing rental payments, Neil Shekhter points out.
There are also the obvious benefits in time-savings when going paperless. Making this move can save time in completing a traditional lease from an average of 30 minutes to 5 minutes or less by making paperwork and forms available online.
Going paperless also allows employees to build better relationships with current and potential residents, by allowing you to completely customize your customer experience. Including the ability to share details around their interests, information on favorite neighborhood hot-spots and also providing instantaneous follow up.
What Should I Be Aware Of?
People are often resistant to change and it's likely that residents and employees may seem hesitant to jump on board at first. That's why it's vital for companies to be true ambassadors of these efforts to both tenants and employees. Fully explaining the benefits will help everyone adjust properly.
Ensuring employees are properly trained can go a long way in assisting them with adapting to the process. Staff should feel comfortable and confident in working with their new system and know where to go with questions. Many companies offer online webinars or support hotlines to assist their new users, according to Neil Shekhter, founder, and CEO of Santa Monica-based NMS Properties.
With the expanding use of convenient online services, it's clear that this is the way of the future and what tenant are increasingly asking for. A true win win situation.
Contact:
Neil Shekhter - Founder and CEO of NMS Properties
https://www.linkedin.com/in/neilshekhter/
https://www.crunchbase.com/person/neil-shekhter
https://www.levo.com/neil-shekhter
https://twitter.com/neilshekhter1
https://angel.co/neil-shekhter-1
SOURCE: NMS Properties