All posts containing Property management


Property Management Checklist Masterclass with Angel Homes and Lettings

The Angel Group encompasses several companies that revolve around property buying, property renovation, and property letting. 

Joanne Dron, Director and Owner of The Angel Group, talks to us about how Process Street has revolutionized the way they manage new properties, and shares a few tips on how to revamp your other processes and even onboard employees 24x faster.

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Supercharge Your Real Estate Processes With Top Property Management Software

Top Propert-Management-Software

“The global property management software market size was valued at USD 1.58 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2020 to 2027.”Grand View Research, Property Management Software Market Size

Real estate is evolving. And technology – or to be more specific – top property management software is the driving force behind the evolution.

Fortunately for all of you real estate market players, this post is here to help you get clued up on all things tech, so you can stock your property management digital toolkit.

To find out about top property management software and to understand how it can help you mitigate human error, enhance communication, save time, and automate recurring tasks – keep on scrolling.

Or alternatively, to skip to a specific section, click the links below:

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The Ultimate Guide to Workflow Software Integration in Property Management

property-management

There is a need for digital transformation in property management

There is no easy way to summarize the role of a property manager in a way that really captures the wide range of responsibilities they have.

In essence, it’s all about communication. Interactions with property owners, tenants, and employees all need to be coordinated with efficiency and professionalism in order to keep all parties satisfied, establish a loyal customer base and enable future growth in a tough market.

Basically, managing properties isn’t just about real estate — it’s just as much about relationships.

You have to track conversations and deal statuses across multiple landlords, tenants, and applicants in addition to managing the properties themselves. It’s high-touch, high-urgency, and high-stress work.

“Communication can easily become chaos if not handled correctly. Between phone calls, text messages, emails, and walk-in traffic, it can be hard to keep tenants, owners, and staff on the same page. Documentation is very important to avoid miscommunication.” Nick D’Agnillo, CEO & Founder of Nexus Property Management

The extent of human interaction that is integral to property management creates a large margin for human error. Poor lead management, documentation of calls/emails, inspection coordination, tenant screening, and maintenance work orders are just a few examples of tasks/processes that are difficult to execute consistently without the assistance of workflow software running in the background.

As a result, property management firms are beginning to place a greater focus on improving business efficiency by formally documenting their processes and integrating workflow software, because it enables them to deliver their clients a superior service, while also providing employees with the tools they need to perform at their best.

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5 AppFolio Checklists for Core Property Management Workflows

Firstly, I should clarify that these are not checklists created by Appfolio, as the title may suggest. They are, rather, checklists created by the team here at Process Street (with some help from customers) that are designed to be used by property management firms who use Appfolio.

Appfolio is one of the most popular property management software tools currently on offer, enabling more efficient management of all kinds of properties including apartments, residences, and commercial real estate.

It is an all-in-one solution that includes features such as online owner and renter portals, online applications and leases, online payments, built-in screening, maintenance requests, mobile inspections, bulk text messaging, accounting, reporting, and a mobile app.

The software’s rich feature set, intuitive UI, and automation capabilities have received excellent feedback from its users, making it a popular choice amongst property management firms of all sizes, particularly those that are growing at a fast rate and are looking for a tool that will enable them to scale while minimizing growing pains.

To help you get the most out of Process Street while using Appfolio, we’ve created a set of 5 templates to bring the two applications closer together as, currently, Appfolio does not integrate with Zapier.

We chose to create the following checklists because they are core workflows in the field of property management, and are common uses cases amongst a number of our customers that use Appfolio on a daily basis.

If you want to dive in and go straight to the checklists, there are quick links right below. Otherwise, scroll down for a brief intro to each one.

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How Alarca Realty Replaced Spreadsheets with Process Street to Streamline Property Management

alarca-realty-case-study

Alarca Realty is a property management firm based in Charlotte, North Carolina, specializing in the full-service management of family homes, condominiums, townhouses, duplexes, and small multi-family developments.

We spoke with owner and CEO Bob Abbott to discuss how Alarca uses Process Street to improve the management and execution of property management workflows that keep their growing business running smoothly.

Streamline property management yourself with Process Street

Before we jump into Alarca’s story, check out the webinar video below. It’s a great resource for learning about how you can use Process Street to bolster your property management-related workflows, just like Alarca!

The Alarca Story

Founded in 2005, Alarca began with the mission of delivering world-class property management services in Charlotte and other locations in southwestern North Carolina.

Their focus on customer service and providing the highest return for clients has resulted in them achieving industry-leading client retention levels.

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For many years, the company used a large library of spreadsheets to manage internal processes and track communication with clients.

As the company grew, so did their spreadsheets, and it soon became incredibly difficult and time-consuming to execute tasks as efficiently as they would like.

Bob identified this bottleneck, and after a period of significant research and testing, decided to go with Process Street to improve the way his team complete their day-to-day tasks and for him, as the manager, to gain greater insight into the progress of workflows.

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9 Property Management Checklists to Keep Your Rental Processes on Track

property management checklists

There’s a growing need for process documentation in real estate

Managing properties isn’t just about real estate — it’s just as much about relationships.

You have to track conversations and deal statuses across multiple landlords, tenants, and applicants in addition to managing the properties themselves. It’s high-touch, high-urgency, and high-stress work.

Especially if you don’t have the first clue about processes.

If you take a peek at the numbers, you’ll see the BPM in real estate market is expected to grow at a rate of 24.8% between 2016 and 2021.

Property management firms are beginning to place a greater focus on improving business efficiency because that enables them to deliver their clients a superior service.

To turn your disorganized business around, creating a modern, automated system for documenting processes is an absolute must.

“A habit of highly successful property managers is creating step-by-step playbooks and standardized processes for everything. This documentation not only ensures consistency and operational efficiency but also shortens the amount of time required to train up new staff.” – Silvia Liu, 7 Habits of Highly Succesful Property Managers

Market research analysis conducted by Research N Reports drives this message home by claiming that the increasing need for accurate process documentation is a key driver of property management software adoption.

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How Dodson Property Management Manages 3500 Homes Using Process Street

dodson property management process street case study
Dodson Property Management is a Richmond-based property management company which uses Process Street to track the progress of everything from recruitment and onboarding to managing tenants and creating monthly reports for their landlords. This lets them make sure that their processes are carried out accurately and reliably, even when their team is on the go.

We spoke to their Vice President of Single Family Management, RMP, and MPM Tim Wehner about how they use Process Street in their business.
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File Naming Conventions: How to Optimize Document Management

file naming conventions

It’s all too common to find yourself wading through your organization’s shared folders in search of the file you’ve been asked to review:

  • PROJECT-PROPOSAL-NEW-v5.doc
  • Project_proposal_2020_final+edits.doc
  • THIS_is_the_final_proposal_(old-version).PDF

Why does this happen? Why can’t everyone just use proper file naming conventions? The reasons can be lack of proper internal policy or procedure for naming and organizing files, lack of any consideration for folder or information architecture, and just plain carelessness.

With a small amount of effort, you can establish proper file naming conventions and avoid this kind of document spaghetti. The more organized you can be with your internal information, the more efficient and effective you can be in your business goals.

Just imagine – seeing neat, intuitively named folders, knowing which folders contain the documents you’re looking for, and – take a seat – having confidence that the file you’re about to click on will be what you expect it to be.

In this Process Street article, we’ll cover:

  • File naming conventions: Best practices & tips
  • The Dewey Decimal file naming convention
  • Process standardization vs process harmonization
  • How we organize internal processes at Process Street
  • How to organize the perfect process library
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    The All-You-Need Checklist Bundle for Homeowners Association Management (8 Free HOA Checklists)

    homeowners-association-management

    Homeowner associations (HOAs), also commonly referred to as community associations or residents associations, are on the rise in the US.

    A 2019 study found that nearly 60% of recently built single-family houses, and 80% of houses in new subdivisions, are part of an HOA.

    If we were to break that down by region, HOAs govern about 33% of homes in the Northeast, about 50% of homes in the Midwest, and at least 75% of homes in the West and the South.

    All in all, there are now almost 310,000 HOA-governed communities in the United States, which is a staggering 260% growth since their inception in the 1970s.

    Needless to say, it’s likely that you will encounter an HOA property while house-hunting, and if you are on the other side (an HOA community member) it’s important that you and the other members manage the association well to keep the community happy and attract new residents who could easily choose an alternative.

    This post aims to provide you with the tools you need to manage an HOA that stands out and establish a community that not only feels confident in the leadership team, but also provides the space for members to contribute in a way that benefits the collective.

    We will be covering:

    Here is a preview of the free homeowner’s association management checklists that we’re offering in this post:

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    Total Quality Management (TQM): Improve Processes & Keep Customers Happy

    TQM-total-quality-management

    What caused the global financial crash in 2008?

    Failures of AIG, Lehman, Merrill, and other major financial firms? Disproportionate risk-taking by banks and lenders? Deregulation within the financial industry? Development of new ways to finance mortgage products? Excessive lending and borrowing in the housing market?

    Yes, yes, yes, yes, and yes.

    However, these causes only tell half the story behind the financial meltdown that morphed into the biggest global recession since the Great Depression (Covid-19 aside).

    What was the root cause? The real reason behind the enormous cost to the economies of many countries and the lost fortunes of millions of families?

    A lack of total quality management (TQM).

    Paul Moore, former head of group regulatory risk at HBOS (part of the Lloyds Banking Group since 2009), dubbed this crisis as ‘the biggest quality failure of all time.’

    Total quality management stems from the belief that mistakes can be avoided if everyone is behind the continual process of detecting, reducing, and eliminating errors.

    If organizations from within the financial sector believed in putting quality first, and positioned culture and people above profit margins and structure, the events leading up to the crisis could have been avoided.

    Just imagine how different things might have been had the financial sector been managing their quality in a similar way to ISO 9001!

    We’ll continue to explore this concept later but, before we do, let’s look at what else we’ll cover in this Process Street post:

    Let’s get going!

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