Anyone who wasn’t already utilizing the technology available to the Memphis property management industry learned during the pandemic that automation and innovative software is critical to the effective and efficient leasing and management of rental properties. It also helps with maintenance, documentation, and communication.
We have always invested heavily in technology at CrestCore Realty, and that’s helped us deliver a higher standard of service to both our owners and our tenants. Let’s take a look at some of the reasons that it’s so important.
Technology Speeds the Marketing and Leasing Process
Without technology, you’ll likely face a longer vacancy period while you’re trying to rent out your home. Our property management software allows us to quickly list your home across multiple platforms, reaching a larger amount of tenants and providing an immediate way for them to get in touch or schedule a showing.
A lot of Memphis property managers are offering contact-free showings with lockboxes and smart locks on their property. This technology verifies a tenant’s identification before securely allowing them to enter the property on their own at their assigned time. They can look around at their convenience and decide whether to request an application. The result is more viewings, fewer scheduling hassles, and less time that your property is unoccupied.
Accurate and Detailed Rental Property Documentation
Everything is documented with our system, including:
- Move-in inspection reports with photos and videos
- Move-out inspection reports with photos and videos
- Lease agreements and addenda
- Applications and screening reports
- Routine maintenance requests
- Tenant correspondence
- Rental payments and security deposits
This is important for property owners because when a tenant provides notice that they intend to move out, you don’t want to be scrambling through files to find the initial lease agreement or the move-in inspection report. You want to have everything available and accessible online. It saves time and money on maintenance and cuts down on the potential for costly mistakes.
This helps tremendously with the maintenance process. When a routine request comes in, the entire timeline of that repair is tracked. We can see when the request was made, when it was responded to, what work was recommended, how quickly our vendors took care of it, and what the final cost was. It creates a transparent report for your property and your accounting statements.
Technology and Memphis Rental Property Accounting
Tracking income and expenses is far easier when you have access to good property management technology. Most tenants today prefer to pay rent online. We prefer it, too, because it results in more on-time payments and less work to follow-up with late payments. You can expect to receive statements with every rental payment and you can also access that information online. Your owner’s portal gives you the ability to see what was earned and spent on your investment property or portfolio every month, quarter, and year. You can request specific accounting reports and feel more prepared at tax time.
We utilize our technology to provide better Memphis property management. Owners and tenants appreciate that our systems and software add to transparency and accountability.
If you have questions about the technology we use and why it matters, please contact us at CrestCore Realty. We would welcome the opportunity to discuss it further.