Better Margins, Happy Tenants: Why FSM Software is a Staple for Property Management Companies

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Property management can be a tricky business – even for old pros. Each individual detail may not seem particularly difficult to handle on its own, but put it all together and it results in a never-ending to-do list where things can easily slip through the cracks. When working with tenants and potential property maintenance issues, things should not slip through the cracks. This is the heart of why field service management (FSM) software has become so pivotal for property management companies of today.

In fact, it’s so helpful that those who use it may wonder how they ever got by without it. With increased efficiency across so many tasks and operations, FSM software can increase profit margins while simultaneously making tenants feel more appreciated. In a fast-paced business, cutting down on wasted time is a game-changer and a huge burden taken off of a manager’s shoulders.

Less Paperwork and Fast Response Times

When technicians need to be called for services on a property, they want to receive notice as quickly as possible. FSM makes it simple and painless to send out notices so workers can respond immediately to requests.

Without a system in place for work orders, technicians can spend more time than they need simply figuring out they need to do. As a general rule of thumb, the faster repairs can be made, the happier a tenant will be. Response times and customer service are important in all businesses, and this is especially true when you’re in the business of providing housing to others.

No more leaving voicemails or faxing over requests that could easily get lost in the shuffle. FSM makes it easy to note what’s being done with even the more complicated tasks that need to be done. The end result is less stress for management, technicians, and tenants.

Immediate Assistance and Status Updates

When a pipe breaks at 2 a.m., tenants need to feel they have recourse to get the problem fixed as quickly as possible. With FSM, management companies can easily provide 24/7 response times without needing to be on-call at all hours. Managers can track technicians and easily compare what’s been promised to the tenant versus what actually happens. This type of proactive measure results in fewer mistakes and disappointments when tenants are in the throes of an emergency or major inconvenience.

Simplifying Finances

Accounting in property management isn’t particularly easy to keep track of when taking the “old-fashioned” route of management – especially considering how many one-off expenses there are. It only takes a few anomalies before everyone is confused. Instead of having to go to several different sources to retrieve the data, property management companies can instead look at a singular dashboard to see the full story.

This type of overview can make it easier to spot processes and procedures in need of improvement. Management companies can also get paid faster by sending out electronic communication and receipts. These extra tools can help decision-makers keep track of the money coming in and going out so things don’t have a chance to get out of control.

Property management companies have their work cut out for them when it comes to turning hundreds of tiny details into a successful business. When everyone from the tenants to the technicians to the property management staff is on the same page, it all adds up to better efficiency, better reviews, and higher profits.

Author Bio: Dylan Snyder is a team leader and real estate consultant at The Snyder Group. His business is augmented by his high-caliber team of seasoned buyer specialists and a dedicated marketing department. Dylan believes the adoption and utilization of technology is what separates companies in the real estate industry today.

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