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Why Property Management Software Needs Strong Lead Management

November 29, 2016 Elizabeth Francisco
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With such a saturated market to compete in, many multifamily properties are challenged with finding unique methods to attract today’s renter. Everything from dog-friendly complexes to shared spaces and tech-focused amenities helps properties achieve a competitive advantage.

 

And while today’s renter is searching high and low for the best apartment, there are a few ways property managers can stay in touch with prospects without a big investment, like building a swanky rooftop pool.

 

Why Lead Management?

Property management software offers a toolbelt of solutions for a manager’s daily tasks, monthly reporting, and workflow creation. However, managing prospective renters is a crucial feature that software needs to address. What if a lead comes through during after hours? Maybe another property reaches out before you get back to the office the next day. Responding quickly can make or break a lead’s interest. Maintaining an organized system will improve overall communication internally, so it’s clear which rep is contacting which lead, as well as increase efficiency for managers to better manage their workday.

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Therefore, when it comes to monitoring leads, it’s easy to let some slip through the cracks. Traditional practices of paper documents and filing cabinets leave property managers susceptible to water damage, fires, or mysteriously lost papers. This can be easily avoided as the rise of digital property management systems redefine multifamily. The key to this innovation? Automation.

 

An Era of Automation

Automation has made an appearance in almost every industry, and it’s beginning to change the game in multifamily.

Property managers can enjoy the automation of managing leads as they come in to relieve the pressure of personally filing each prospect. Tired of letting leads get away? Automation saves time and stress while managing the work of converting a lead to a lease.

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Online property management systems are meant to ease the amount of work surrounding leads, and automation features fill in the holes that are prevalent in traditional lead monitoring. From lead generation to follow-ups and nurturing, automation in your property management software eliminates error or forgetfulness. Letting automation do the work for you provides security, feasibility, and long-term success.

Automated response templates and task management features help ensure that leads are never lost, and that workflows are easier for employees, while also helping increase closing ratios. Taking the pressure off the sales team, a strong lead management feature should offer advanced online record keeping and rapid response rate. By setting up workflows, property managers can be quick to respond when actions are triggered, like a lead fills out a contact form. Fast is first in the apartment world, so don’t be second to respond during a lead’s search process.

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Measurement and management is highly increased with an advanced lead management tool. When properties are constantly held to standard requirements and to the analytics that they produce, a software that calculates, organizes, and generates reports surrounding lead and sales numbers can paint a clear picture of success from property to property. This also saves time in pulling reports manually, which is the beauty of automation:

Accurate, fast, and comprehensive.

Lead management is a driving force behind your property’s success, therefore it’s essential to keep it modern and automated. Lead management automation ultimately helps property management cut down marketing costs, avoid losing leads to competitors, and develop the right customer relationship. Automation is a tool to not sacrifice when it comes to your property management.

 

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