Automating workflows for property management teams

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The idea of automation can feel daunting, especially in an industry that has been experiencing unprecedented growth for the past several years. Property management teams lead this charge, notoriously carrying heavy workloads with little time left for planning automation. As markets grow and workloads increase, the pressure to simplify internal processes...

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Five tips to streamline workdays for onsite teams

 

The idea of automation can feel daunting, especially in an industry that has been experiencing unprecedented growth for the past several years. Property management teams lead this charge, notoriously carrying heavy workloads with little time left for planning automation. As markets grow and workloads increase, the pressure to simplify internal processes compounds. 

 

At Radix we’ve found that automating market survey and reporting efforts, for example, can save onsite teams alone up to eight to ten hours a month in time spent collecting market data. That is an entire workday saved each month by automating data collection and reporting processes, allowing teams to reinvest the time savings to a more important strategy-focused work. This time efficiency reverberates across the entire organization with onsite teams not having to pass spreadsheets or reports to their peers, supervisors, or asset managers.

 

Automation can help unlock the true potential of property management teams by eliminating empty clicks and reducing time spent on tedious work that does not produce opportunities for strategic decision-making.

 

Here’s why automation allows teams to work smarter, not harder.

 

Reduce double efforts and data leg work

 

Research shows resident satisfaction and company morale improves when teams lean into the power of automation. This is because the old-school way of management is quickly proving to be outdated, inefficient, and ineffective. Gone are the days of piecing together data from multiple reporting systems and scattered conversations across departments that leave teams disconnected and feeling burnt out. Automated tools and property management systems take the guesswork out of strategy by creating a centralized platform which all teams can rely on when making important decisions.

 

For example, when Radix analyzed properties that use our platform we found that they earn Net Effective Rents that are approximately 1.45% higher than similar properties that do not use Radix.

 

If your onsite teams could focus their energy on what they are best at, everyone wins. When teams are all working from one centralized database, workflows are transformed, margins improve, productivity increases, and business booms. Teams are happier and more connected, and you guessed it, so are residents because onsite teams can focus more on resident satisfaction.

 

But how do we know what to automate?

 

Great question. The key to understanding how to optimize your workflow is identifying what can and should be automated.  What are the redundant and necessary tasks you know you need to complete on a daily or weekly basis, but could probably be solved with either better technology or a more efficient process? Write those down. Here, we’ll get you started:

 

  1. Responding back to leads (email, SMS, calls, web forms)
  2. Qualifying leads
  3. Scheduling showings and managing resident communication 
  4. Following up with residents on renewals
  5. Scheduling maintenance requests
  6. Property financials + budgeting
  7. Establishing correct rental rates
  8. Verifying competitor concessions/move-in specials
  9. Monitoring online reputation score activity
  10. Calculating realistic revenue goals
  11. Paying invoices and monitoring budget variances

 

What if you had a data platform and partner who could feed you the data you need to make swift financial decisions about your property? So often, team members are challenged with pouring over large data sets spread across multiple platforms to come up with a concise strategic business plan to share with stakeholders. There’s nothing intelligent about keeping data in a silo. Collaboration is the way of the future and stakeholder transparency keeps everyone connected. Data platforms with shared interfaces give us a peek into the window of successful automation – shared data in one centralized place used by the right people to make data-driven decisions for your business.

 

What if there was a way to coordinate communication with technology while maintaining high-touch personalization options?

 

Why you should start automating workflows today

 

Automating the right way gives your team a competitive advantage by leaning into the power of data-driven decision-making to improve team efficiency. More productive, effective, and efficient teams tend to experience higher resident satisfaction at their properties. Why? Because teams aren’t spending their time tracking down information or scattered by inefficient conversation. They have all the information and all the tools at their fingertips so they can identify what’s most important – the resident experience.

 

When energy is scattered, so is the customer experience. In other words, when internal processes are spread thin across teams without concerted efforts and a centralized database, potential residents, current customers, and community owners can feel that throughout their customer service experience.

 

It shouldn’t come as a surprise that the customer experience defines the success of a brand. Customer experience has been the buzz in the last decade, especially with the connectivity and transparency made possible with social media. Research continues to show that the expectation for high touch convenience continues to hold the main stage.

 

Start automating with Radix today

 

Connecting with the right research platform makes all the difference in setting your teams up with automation. To get started, identify what you need.

 

Are you planning for performance in highly competitive submarkets or needing to identify which tactics are working best across properties? 

 

Are you looking to create a capital expenditure plan or establish marketing and other support costs for the analysis of a new acquisition?

 

Radix provides multifamily operators with the foundation to complete many of their existing duties with the assistance of automated tools and features that streamline onsite and corporate workflows. Whether your teams collect the data and provide reporting, or analyze the findings to seek new investment opportunities, Radix can make it easier!

 

Visit the demo page to get in touch with our team if you’d like to learn more about our products and solutions.

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