How technology supports your investment property manager at Ezytrac
Managing property is a far tougher job today than it was ten years ago. Not only because the private rented sector is much more highly regulated now. Also because life is lived at such a fast pace. Landlords and tenants want everything done as fast as possible. Here at Ezytrac, we think that all our clients have a right to prompt and efficient service. So how do we keep up with the demands of the industry? Our landlord clients and their tenants, and the ever-changing regulatory environment?
The answer is great people, aided by systems, processes, and state-of-the-art technology. Our people provide the human touch. An approach that is integral to good relationships and keeping your property safe and tenanted by good tenants. But it is the technology, systems, and processes that we use that enables them to do such a great job.
We start with knowledge
It’s imperative that your property manager knows the law that affects you as a property investor and buy-to-let landlord. They must deal with prospective tenants, tradespeople, and, of course, property investors. They must be able to solve problems and communicate with all different sorts of people.
To do their job, your property management must also be adept at working in an office – there’s a lot of admin involved in investment property management. They must have good telephone skills, be able to take notes, use Microsoft Office applications (including Excel), understand spreadsheets and be accurate data inputters.
They must also be good salespeople, able to show prospective tenants around properties and answer queries on the spot.
When we hire our people, we look for a combination of all these skills. We then enhance their capabilities by providing initial training and ongoing continuing professional development (CPD).
Barriers to doing a great job in investment property management
In all walks of life, there are barriers to doing a great job. Construction is held up by the weather, or failure of suppliers to deliver the bricks needed, for example. Top football teams drop down the league when their star players are injured and unavailable to play. Deliveries don’t happen when the motorway is shut down because of an accident.
The biggest roadblock of most investment property managers is having too much to do and too little time to do it in. They become distracted by a constantly ringing telephone, buy-to-let landlords and tenants coming to the office without an appointment, ‘emergencies’ that must be dealt with immediately, property viewings where the applicant doesn’t show up. The list of distractions is almost endless.
All such distractions take the investment property manager away from the task at hand, add time to their day, and increase the length of their to-do list.
So how are our managers so efficient at what they do? The answer is in technology, systems, and processes.
The systems and processes behind great investment property management
The systems and processes that we have put in place here at Ezytrac let your property manager execute their tasks without the stress and frustration evident in most letting agents. We’ve automated much of the processes of property management – things like reminding applicants of viewings, and rent due or overdue reminders.
This automation means the property manager can focus all their energy on what they are doing. For example, this may be stepping into the process of chasing up rent payments, booking viewings, or arranging maintenance. Every task is managed by a process and procedure, which is laid out in our procedural manuals.
Investment property management systems that help all
Many of our systems have been designed to help all the stakeholders in the management of your property – you, the tenant, tradespeople, and your investment property manager.
For example, our repair reporting application makes the process of reporting maintenance issues easy for tenants to do. It also allows investment property managers to prioritise repairs, and helps us to source the best tradespeople for the job. Because we’re able to provide full details of the repair issue, including photographic evidence, the specialist we send is better prepared, and the repair is carried out more effectively and efficiently.
The systems we use to collect and manage rental payments are highly automated. They provide exception reports to your property manager, alerting them of late rental payments and actions needed. When rent is paid, our systems release your money to you within 24 hours of clearing into our account.
Our systems don’t simply streamline work processes, though. They set and maintain standards of the administration side of investment property management, and ensure a consistent and effective approach is maintained by all our property managers when dealing with your tenants, tradespeople, and others.
Our systems and processes are constantly evolving
Have you noticed how fast the pace of change in technology is today? It is a challenge, but also a blessing for us. We ensure that our systems and processes evolve with technology and changing rules and regulations. We’re continuously updating and improving. That’s one way in which we stay ahead of our competition, and one reason why we’re one of the fastest-growing investment property management companies in the UK.
At the heart of all this technology is your investment property manager
Even with all this technology, the heart of our business is very much its people. After all, the buy-to-let business is a people business.
Your investment property manager, while supported by our systems and processes, has a lot of autonomy to plan their day to suit their way of working and the needs of their clients. They can block out time for work that requires a high focus, arrange viewings for the optimum time of day, and set times for the ‘mundane’ daily tasks such as responding to emails and returning telephone calls.
The systems we have put in place ensure that every investment property manager has the tools to do their job efficiently. The processes we employ ensure that every task is done consistently and effectively. Our systems and processes are the essential support our investment property managers need to provide you with the essential support needed as your property portfolio grows.
Contact one of the Ezytrac team today on+44 01522 503 717, and discover the human touch backed by state-of-the-art technology, systems, and processes.
Yours in effortless property management,
Brett Alegre-Wood MARLA MNAEA