5 Advantages of Online Leasing for Property Management Companies
If you’ve been reading my posts, you know why I think online leasing is good for your renters and prospects and your leasing office. Now let’s wrap up the series by examining why it’s good for the home office. Let’s look at the top five advantages:
1. Saved time
All those advantages for the leasing office funnel right to you at the home office. Not only are your leasing agents freed up to do more, but you save time at your home office, too. Big time. With online leasing, home office employees will spend less time:
- Performing on-site file audits
- Generating reports
- Filing copies
- Digging through files
- Opening and resolving mail
- Correcting mistakes
- Printing, faxing, etc.
2. Saved space
I’ve talked already about how the reduction in paper can save space at each leasing office. Now multiply that several times over for the home office. Online leasing makes all those leasing documents electronic, saving you valuable storage space.
3. More leases
Online leasing makes it easier for your prospects to reserve one of your apartments and move in, and it makes it easier for your residents to renew. That ease and speed can translate to better closing rates for you.
When your new residents enter their information online, it’s less likely to contain errors that can trip you up later. Plus, the system will help prevent the transaction from being completed until you have all the information you need—either by prompts to the people entering the data or by flags for you. Accurate, consistent data saves you the time and trouble of hunting down the correct information. It can also simplify the audit process for you and might even help protect you from potential liability.
5. Cost savings
Online leasing saves time for your leasing and home office staffs. You can devote that extra time to other tasks or potentially continue the same amount of work with fewer staff. Either route can have a tremendous impact on your bottom line.
What do you think? Am I overlooking some advantages? If you’ve tried online leasing, what do you think? If you haven’t, then what’s holding you back? Sound off in the comments below.