Automation tools can improve your real estate operations.
Whether you own a few properties as rentals or have in-house management teams and thousands of doors, you probably wear a few hats. This post will explore some simple tools we hope will simplify your business process and allow you to focus on what you enjoy most.
This information is not endorsed or paid through relationships with vendors.
What do we mean by automation?
Automation refers to using technology to complete tasks that would otherwise be done manually. Alot of times this is stuff that's a pain in the arse or things you pay a professional to do. In the context of a real estate business, automation can encompass anything from paid software subscriptions (SASS), to an online platform to display and market your properties or even tools like webhooks that can connect your existing systems and automatically perform simple tasks.
It should be noted that if you're not great at life, automation may make things worse. Key here is employing sound technology and prudent operations that will serve you and not create a headache. We relish in certain service providers that offer a solid product that's easy to use and doesn't break. While some services are free, we are happy to pay for excellent service.
Let’s have a look.
Property Management
Here are some of the best tools available:
Long-term rentals
Buildium
DoorLoop
RentRedi
Short-term rentals
Guesty
Hostaway
Lodgify
If you're self managing properties and don't currently use software, consider these platforms as a way to simplify screening tenants and respond to maintenance requests. Having everything in one place makes things easy and affords peace of mind.
When choosing property management software, be sure to pick a product that fits the specific needs of your business. You may not need the most expensive software to fit what you're doing.
Plenty of products out there have outstanding automated bookkeeping capabilities and can track income, expenses, and even profit and loss. Make sure the software you choose is as fancy as you and can integrate with your existing accounting software.
Marketing For Tenants
Generating leads is one of the most important tasks in property management. After all, if you don’t have any interested tenants, then you won’t be able to fill your properties. Be sure to keep marketing integrations in mind when considering property management platforms. With the right software, marketing is easy.
Text message marketing
Text message marketing is awesome. We use a great system called Launch Control for outbound text marketing.
If you don't market to sellers directly, you can also use automated text messages to remind tenants of upcoming rent payments or maintenance needs. These are some of the top providers in the space:
Launch Control
Textedly
Lead Sherpa
Social Media Marketing
Social media offers a way to build your brand and reach your target audience without a huge marketing budget. Consistency is the key here, so we setup an automated connection between our blog and our social media platforms. Every time we publish something, that information is shared with each of our social media platforms.
Here's best in class software for auto posting to social media.
Buffer
Loomly
Tailwind
Email Marketing
We haven't dedicated enough resources to email marketing to shout with enthusiasm about email marketing.
A few of the larger players are below.
We do use Podio automated workflows in many of our business operations that keep information flowing between our staff, tenants and vendors.
Sendx
ActiveCampaign
Campaign Monitor
Is Automation Working For You?
We hope this guide served as a useful resource in sharing some of the service providers we use to simplify our life. We're confident you will make the best choice for you.