Our company is a member of the National Association of Residential Property Managers (NARPM). As members, our company and managers are able to keep current with industry technology and new management products by attending conventions, educational seminars, and the NARPM monthly magazine “Residential Resource”. After almost forty years in this business, it’s not always easy to teach old dogs new tricks, but we are always amazed at the advances in new technology and software available to Professional Property Managers.
Web based software has allowed our owners and property managers to access information on their properties through cell phones, iPads and home PCs. The latest maintenance software provides documented maintenance, inspections, and repairs with pictures and invoices for the life of a rental. This information is instantly retrievable by date, address or name. Phone apps let property managers answer their personal cell phone using the office number. They can stay in contact with the office through instant messaging and retrieve and send information pertaining to a rental property without having to sit at a desk in the office. Security and tracking apps make it much safer for agents in the field showing property. Electronic banking has revolutionized the collection of rent and the distribution of owner’s proceeds. Tenants can pay rent on line with direct deposit or even use a credit card and owners rent proceeds are sent electronically straight to their bank account. Owners are able to access statements, invoices and tax information using their own personal portal. This gives them real time data on their rental property and a constant connection to their property management company.
The use of web based software also allows for unlimited data storage and backup in other locations throughout the country. This makes keeping large photo files and data no longer a space issue. Going paperless was always a fear, but as I become accustomed to it, change is great. Applications, leases and management agreements are completed online through email and “Docusign”. All this creates a legal document that can be retrieved at a moment’s notice and signatures can be collected at any location with a computer.
My Wife and I are fortunate to have our children and their spouses and many millenniums working for us. They understand the day to day changes in the internet technology and keep our Business current. As Licensed Real Estate Professionals, we are required to take continuous education courses to keep our licenses active. But as Professional Residential Property Managers, it is great to have an organization such as NARPM to help us keep up to date with the industry and provide the tools to be the best at what we do.
Keeping up with new trends and information pertaining to rental property is important to Professional Property Managers to help them better manage their inventories and serve the owners that employ them. Contact your local REALTOR or Professional Management Company to help you with your rental investment and keep you up to date.
J. Matthew Scheel - Broker/Owner