While a property management system is a mandatory tool for anyone managing various types of properties, a channel manager is usually optional. However, in reality, a channel manager is quite helpful when it comes to marketing. A property management system is a typical software solution ideal for property managers handling anything from residential apartments to houses, rentals and even hotels or hostels. It allows them to automate a range of mundane and daily processes and streamlines their day-to-day operations. A channel manager is a marketing tool that allows property managers to feature their property on multiple websites as a listing. Where a property manager has published listings on a range of websites, this is an efficient tool to keep track of each listing. This article will list all the reasons why you should consider adopting a channel manager alongside your property management system.
Why Is Adopting a Property Management System a No-Brainer?
Some property managers believe they need a property management software solution only if they are a large corporation. However, in reality, SMEs can unlock a range of benefits with such software, allowing them to easily scale into a larger corporation in the future. Here are a few main features that should be included in a typical property management system:
Help With Finances
When handling any type of property, finances play a crucial role. Specifically, ensuring each tenant pays their relevant fee is important for a property manager. Adopting a property management system helps the manager and the tenant do their respective roles. From the point of view of the manager, to ensure all payments are made on time, they can send an automated annual reminder to be sent on a specific date. Instead of making individual records, once a person pays, the system will update it. On the other hand, a property management system makes things much easier for a tenant, who can pay using an online payment gateway. The moment it is paid, an automated receipt is generated for their purposes.
Schedule Maintenance
As a property manager, understanding that something will always require maintenance or repair is inevitable. This could range from the tenant requesting a repair related to utilities, or it could be routine maintenance scheduled to control the HVAC of the building. Keeping track of the scheduling dates is hard when you are in charge of a complex that rents out multiple homes. Hence, by adopting a property management system, whenever a tenant has a problem that requires fixing, they must put in a maintenance order through the system. Instead of going behind the manager, they can easily find updates related to their order by logging into the system. The property manager must also carry out due diligence to ensure everyone staying in their properties are safe. Hence, when it comes to maintaining HVAC conditioning, a feature that tenants may not instantly recognise when it is in a condition that is unsafe, a property management system automates the process of daily checkups to ensure all is set. If the system detects something is wrong, it will instantly warn the property manager, who can send out their maintenance teams to rectify any issues.
Receive Hidden Insights
One of the biggest advantages of a property management system is the generation of detailed, insightful reports. These reports help managers assess the property’s progress and act as a marketing tool to help them find suitable tenants. Concerning the former, managers can find out why more expenses are incurred from their end. By assessing such facts, active steps can be taken to save the overall costs or resources the managers spend. In relation to the latter, the reports act as a marketing tool by helping property managers keep track of the changing market trends and consumer demands. For example, suppose there is a season that specifically results in a surge of potential property buyers. In that case, the report will note it, requiring managers to use that time to focus on putting up listings on various pages. Managers can make intelligent decisions by understanding the market and the targetted audience.
Why Should You Adopt a Channel Manager Alongside A Property Management System?
Every property manager utilises a range of websites to feature their properties. If they handle multiple properties, each website will usually have all of them. A channel management system helps property managers to keep track of all of them on every single website through the following features:
Keeps All Calenders in Sync
When managers have to keep track of all listings on multiple websites, what happens when a person makes a booking on one? All websites will have to be manually updated whenever such changes are made to avoid double bookings happening for the same property on the same day. Nothing is worse than not realising this until it is too late and having an angry customer that could leave a bad review that affects your reputation. Having a channel manager allows you to automate this process, whereby the moment one person books a property, with a click of a button, every website you have made a listing of that property gets updated without fault or delays.
Manages All Listings on Every Website Through One Dashboard
Having to log into each website to confirm a booking is quite tedious. When multiple properties are managed, it becomes even more complex. Infusing a channel manager, however, means that instead of having to log in to each website and go through the listings, everything is merged into one platform and shown on one dashboard. With one glance, a property manager can determine which websites have resulted in bookings and which websites should be given more attention in terms of pushing out marketing content.
Ensure Your Property Rates Are Up To Date
Having all properties in every website merged into one platform also makes it easy to ensure there is consistency in rates. Eliminate situations where an expensive property on one website has been booked for a lower rate on another. Managers will have an awkward conversation with their customers, explaining that the real price is, in fact, higher. This also makes it easy when handling promotions or discounts. If the manager opts to carry out a promotion for a specific property, instead of having to manually mention it in each and every website the property is listed in, all prices can be updated quickly through a click of a few buttons.
An Operational And Marketing Tool in One Solution
Investing in a property management system that acts as a marketing and administrative tool is ideal for everyone. Manage your daily tasks, organise your finances, and keep up with your online listings all in one go with a compact solution. Finding the right software vendor that offers customisation features, including tools to help you operate your property, help you save your overall finances through the production of insightful reports and streamlining the online process simply means that success is yours to claim. Become the manager of leading properties in real estate and other property-related industries with the help of a robust digital software tool.
