All posts containing property


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:

Let’s get started! 🏘
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5 Propertyware Checklists for Keeping Rental Processes Running Smoothly

propertyware-checklists

We recently released 5 checklist templates designed specifically to help Appfolio users manage a handful of core property management workflows more effectively.

The following templates are a continuation of our effort to support property managers who are already using a software tool to manage their processes.

This time we’ve customized the templates for Propertyware users, and in the following weeks, we will release another set of templates designed for property managers who use Buildium.

Propertyware, a subsidiary of RealPage, is a cloud-based, end-to-end property management platform that helps you manage the entire renter life-cycle, from online payment processing to customer portals and work order management tools.

Based in San Francisco, California, Propertyware is one of the oldest full-service property management platforms out there, and has built a loyal customer base of over 2,000 companies.

If you are one of those companies, we hope you will find these checklists useful and integrate them to improve productivity and overall business performance.

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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.

alarca-property-management

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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Airbnb’s Growth Strategy: How to Make $3.4B in ARR & IPO During A Pandemic

airbnbs growth strategy

I’m writing a post about Airbnb, from an Airbnb.

Ironic yes, but not unlikely.

In 2019, Airbnb hosted 272 million bookings globally. And, in 2020, despite a global pandemic restricting travel, Airbnb suffered relatively minimal losses of only 22%.

2020 was also the year Airbnb decided to go IPO, despite the global pandemic, a significant drop in revenue, and global travel restrictions.

How did they manage it? A growth strategy like no other, that’s how.

This Process Street blog post takes a deep dive into Airbnb’s growth strategy, how they got where they are today, and where they could be going. To skip to a specific section of the post click the appropriate link below:

Let’s start with where it all began, with 3 air beds.🛌
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Default to Action & Overcome the Toolbox Fallacy

toolbox-fallacy

“A good plan violently executed now is better than a perfect plan next week.” – George Patton

“Once I have X, I can do Y.”

This phrase is the defining characteristic of the toolbox fallacy: thinking you can’t do something until you have the right tool.

The toolbox fallacy is self-deception disguised as excuses or a lack of “tools”. The issue with these tools is that you believe that you need them and thus, can’t (or won’t) start a project without them.

“As soon as my Apple Watch arrives, I’ll start training for the 5K.”

The problem is when X arrives, do you crack on and get started with the Y? Often times, it’s too easy to continue down the slippery slope of toolbox logic.

“My Apple Watch arrived, but now I need a coaching app – which I am yet to have downloaded.”

So, how do you overcome the toolbox fallacy? Simple: You default to action. In other words, you get the ball rolling – whether you have all the tools you think you need or not.

The solution, in a sense, is to be more agile.

In this post I’ll be looking at how to overcome the toolbox fallacy by putting the systems in place to move fast, and with virtue. I’ll try to address:

  • How do you plan and structure clear action items, so you can move fast and be sure you’re making the right decisions?
  • How will you move fast without breaking things (by things I mean humans)?

And, to sum things up I’ll take a look at how we at Process Street use OKRs to decide when it is we should be moving fast vs when we should be slowing down.

To jump to a specific section click the appropriate links below:

Let’s start by unpacking the toolbox fallacy in more depth! 🛠
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Process Street 3.0: Even More Versatile for Every Kind of Workflow

process street 3

Process Street is a simple, free and powerful way to manage your team’s recurring checklists and procedures.

Process Street helps you automate tasks, track progress, and manage documents — plus it integrates with over a thousand of your favorite apps.

Thousands of businesses in every industry use Process Street to make their recurring work fun, fast and faultless. We’ve been listening closely to our customers, and Process Street 3.0 proves it. Sign up for a free trial and take Process Street for a spin.

Processes are a part of daily life for every person in every role in every business. We designed Process Street to power any kind of process: employee onboarding, rental property inspections, new client onboarding, firewall security audits, monthly sales forecasts, and many more.

We’ve built strong lines of communication with businesses who use Process Street every day; with the launch of Process Street 3.0, their feedback has helped us make our platform:

  • More powerful, with greater control to orchestrate and automate complex multi-departmental workflows.
  • More intuitive, with a redesigned user experience to help you implement and manage all your processes even faster.
  • More accessible, with new time-savers like application speed improvements, single sign-on, and a slick iOS app.

Before we dive into all of our 3.0 features, you have to check out our new explainer video! As you watch, consider what it can mean for your business if every person on your team knows what to do, and when.

Satisfying, right?

The feeling of working together to get processes done right, and right on time.

Ok let’s jump into it.
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