The property management industry in the United States generates $88.4 billion in annual revenue and it is only expected to grow (iPropertyManagement). Property managers seeking methods to streamline their growing To-Do lists have more capabilities at their fingertips than ever before. New real estate technology empowers property managers to streamline processes like rent collection, batch invoicing, security deposits, insurance, and more. On the flipside, tenants have the ability to pay their rent by text message, which opens the door to a quick and simple form of communication between the two parties via text message.

While managing payments and money is a big perk on its own, the ease that contactless technology brings to open communication is invaluable and can aid property managers in accomplishing tasks – even crossing items off their lists before it even becomes a To-Do. Eighty percent of property managers are involved in the coordination or performance of maintenance/repairs along with the struggle to collect rent and fees.

Platforms like Rentmoola easily integrate with contactless technology to make collecting property payments modern and efficient. It allows tenants to go paperless and property managers to step up their game when it comes to customer service.

Let’s look at some of the ways this option can greatly improve a property manager’s daily duties.

Pay By Text

Tenants can pay from anywhere in the world using their mobile device and the property manager enjoys direct deposits without the need to collect and deposit checks.

Accounting Integration

Busy property managers can ditch the hassle of endless accounting and tracking of payments or statements. Things like batch invoicing and other tedious accounting tasks are quickly managed.

Enhanced Communication

The ability for property managers and tenants to have an open line of communication is crucial. Asking and answering questions or concerns by text message is fast, easy, and the preferred way to stay in touch. The customer service a tenant associates with this means extended leases and less drama for the property manager trying to keep in touch with so many people.

Property managers have enough on their plate and the tools exist to make their job easier. Adopting contactless payments and communication solutions streamline their daily tasks and at the same time provide the modern options that today’s tenants are looking for.