Automation for real estate and property management
Discover how real estate and property automation can help you cut costs and save time. Automate high-effort tasks and improve your margins with real estate RPA.
With your team and the financial transactions spread across your properties, administrative work for real estate and property management firms offer a unique set of challenges. From managing property inventory and documents, to key processes in accounting and compliance, administrative processes and tasks can eat a significant amount of your team’s time.
Automation can help. If you are looking to increase productivity – and reduce error rates – automation allows you to eliminate repetitive tasks for your staff, reduce manual input errors, and give your buyers, sellers, and renters, a more seamless experience.
Automating real estate processes with Robocorp
With Robocorp’s RPA technology, your real estate or property management business can automate a wide range of processes and tasks that require data extraction, data migration, rent and purchase transactions, and data entry. This decreases the time your team spends on administrative tasks and increases their capacity to wow your clients.
Rental property applications
Automation can be utilized to process applications that you receive for all of your rental properties. This speeds up the application process by automatically checking for missing information and errors, and keeping your team and clients continuously up-to-date on contract statuses.
Tenant onboarding
For property management companies, the most time consuming part of your employees' jobs is often the steps required for onboarding new tenants. Use automation to handle your rule-based tasks to eliminate the need for manual input. Many companies utilize RPA for running background or credit checks, verifying employment and income, and ultimately approving or disapproving applicants.
AML & KYC Compliance
Ensuring compliance with all anti money laundering (AML) and know your customer (KYC) regulations is important to avoid costly fines. Simplify the process – and eliminate the risk of compromising sensitive data – with the use of automation. Bots can scan and validate client information on all transactions, and alert staff when any additional KYC documentation is required.
Inventory Management
It’s important to keep listings and vacancies up-to-date, but busy schedules delay these updates, which can have a negative impact on your bottom line. Automation allows you to update your sold or rented properties within your system, and automatically update various external websites to reflect these changes.
Accounting
Relying on your staff to manually process the high volume of rent payments and other accounting transactions increases your salary costs and often leads to errors. Automating these processes can replace as much as 80% of your manual input requirements, nearly eliminating errors and allowing your employees to focus on more valuable tasks.
Tenant Communications
Keeping tenants up-to-date on property changes or new requirements is an important part of any property management’s daily tasks. Help your staff complete these tasks as efficiently and accurately as possible with property management automation. Automcation can send important letters to notify tenants of things like rent increases, contract continuations, and property updates, as well as reminder messages about rent due dates, returning keys, and more.
Why use RPA in real estate and property management
Increase efficiency and productivity
Digital workers process data more quickly than employees can, and can also transfer data between systems. This means tasks are completed much more efficiently, and allow your employees to be more productive in value-adding tasks.
Immediate cost savings
Once implemented, your automation project provides immediate cost savings by completing previously time-consuming tasks in a matter of minutes. This means that your investment in RPA typically pays itself back within just a few months.
Enhance client experience
In today’s technologically advanced world, client expectations for timely communication have increased significantly. RPA bots can provide much faster responses to inquiries, manage client data more efficiently, and increase overall satisfaction with your services.
Improve employee morale
Spending a majority of the day on mundane tasks can have a negative impact on employee morale. Integrating real estate RPA bots means employees spend less time on these tasks, and more time on the tasks they enjoy doing.
Or reach out to one of our certified partners who specialize in insurance automation.
