About 30-40% of real estate firms have been working day and night filling documents and searching for the desired information in their cabinets and emails. Saving time and money are key factors why the world is getting digitized, transitioning from the big fat and heavy files to a small folder on their desktop or launching different Salesforce Property Management Systems.
Can you imagine how much paper is required for a real estate deal? Lengthy agreements involve 5-6 pages and sometimes even more. There is a need for different copies for future references, each for the buyer, seller, lawyer, and even the real estate firm. Imagine a firm selling or renting several units every day. Real estate property management software is the best solution to avoid file stacking. A Property Management software gives Property Managers or Leasing Managers a virtual locker to stack files on cloud storage which can be accessed from anywhere.
Real estate management software is customized as per your needs. It helps the owners to get all the detailed status of the processes like finance management, tracking tenant details along with contact information, and tracking rental rates and dates.
Benefits of Going Paperless For A Real Estate Sector
With a paperless storage system, you can store, manage and capture your important files and documents securely online. From mortgage files to rental applications, you can store all kinds of documents on the cloud and access them easily from anywhere and anytime. Shockingly, office employees usually spend 30-40% of their time searching for files or documents stored in cabinets or emails. This can cost you around $20 per month and $240 yearly for a single employee. Multiply this cost with the number of employees you have and see how big the amount is. Therefore, it is essential to save valuable time, and going paperless can help.
Here are some benefits of going paperless as a real estate agent:
- Convenient, Efficient, and Faster: Many Property Management Solutions provide cloud storage that allows you to access your documents anytime from anywhere. This will make the paperwork easy and speed up the lengthy paperwork process. Also, property managers or leasing managers can easily check the status of all the properties and active deals without actually checking each and every file. No need to visit your workplace to know the update when you can access everything from your current location.
- Looks Tech-savvy and Professional: The real estate industry is highly competitive. You have to represent yourself as a highly professional company, which is the key to success. By going paperless, you can showcase your professionalism, which will definitely attract fellow realtors and clients. Moreover, the cloud storage in the property management tool manages all your documents appropriately. Transactions are quick and smooth. This is what a real estate company wants.
- Reduction in Printing and Storage Costs: If you go through the company expenses, you will find that a major part of the expense is made on buying papers and printing. Another interesting fact is that 45% of the papers are in the trash cans. Also, the cost of storage rooms and filing cabinets consumes plenty of your expenses. Therefore, going paperless can easily cut costs and save a significant amount of money.
Merely, by going paperless, you can save a lot of money and time for your company. It is a smart and successful business strategy for real estate businesses. You can set an example for others and make your customers happy with paperless transactions.
How Can Property Management Software Help in Going Paperless?
The software for commercial real estate has revolutionized the real estate sector as it has transparency in buying and selling property. It has been noticed that most of the population has started trusting the firms that have digitalized the process and show more interest in meeting the firm’s experts, that are more updated and have the relevant information on their tips.
With the enhancement in technologies in the real estate sector, these firms have started going paperless to avoid chaotic situations in offices while searching the history of their clients, completing and verification of legal documentation and their properties status, as these advanced ERPs will help you save time and have a flawless buying and selling process.
The software automation allows property managers to control several tasks, such as:
- Control Finances
- Manage Properties
- Schedule Viewings or Inspections
- Send Emails And Notifications
- Store Documents
- Track Vacancies
By providing access to PMS to the landlords and tenants, you give them the ability to search for information, make payments or take some necessary actions on their own. This means a PMS allows optimizing the headcount.