INTRODUCTION
Imagine the journey of a new tenant, eager to start a chapter in their new apartment. The excitement is tangible, but so is the checklist of to-dos that stand between them and their new home. Numerous crucial challenges arise during tenant onboarding, often serving as roadblocks to expanding the portfolio of units and aligning with the company's ambitions.
Managing tenant applications and unit availability
Picture yourself responding to questions from prospective tenants interested in renting units in your co-living space. As you review each application, imagine the frustration of not having real-time visibility into unit availability and rental periods. Despite your efforts to match tenants with suitable accommodations, the lack of a centralized system leaves you struggling to keep up with demand and risking missed renting opportunities.
Ensuring accurate contract generation
Put yourself in the shoes of a property manager responsible for a shared living space. As you sit down to draft rental agreements for incoming tenants, imagine the pressure to get every detail right. From rental rates and deposit amounts to house rules and amenities, each line must precisely mirror the agreements made with tenants to avoid misunderstandings or disputes down the line.
Handling a large volume of tenants
Imagine you're in charge of a big student housing property, gearing up for the new academic year. Picture yourself surrounded by tons of applications from students eager to move in. With move-in day approaching quickly, you're swamped with paperwork, coordinating schedules, and answering questions from tenants. Your top priority? Ensuring a smooth transition for everyone, even amidst all the chaos.
“Sending out and signing contracts through Powerhouse's software allows us to make this process significantly faster with more accurate data from our tenants.”
Communication across multiple channels
Envision yourself juggling multiple communication channels as the manager of a property. Throughout the day, you answer questions via email, answer phone calls from residents reporting maintenance issues, and post updates on the community application. Despite your best efforts to stay organized, managing the flow of information across various platforms presents a constant challenge.
Simplifying site inspections
As a property manager, conducting site inspections of the units is part of your responsibility. Picture yourself walking through each unit, taking photos with your smartphone. Each snapshot is essential for documenting any pre-existing technical issues before handing over the keys to the tenant. Or, it might be to assess any damage caused by the tenant at the end of their rent. However, with each click of the camera, there's a worry about misplacing or losing these crucial photos, potentially leading to discussions or disputes later on.
Enhancing the tenant welcome experience
A new tenant is moving into the rented unit, despite your desire to provide a warm and personalized welcome, the administrative demands are pulling you in different directions. As you hand over the keys and offer a brief orientation, you can't help but feel the strain of balancing administrative tasks with the desire to ensure each tenant feels valued and supported from day one.
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How does Powerhouse tackle these challenges?
The Powerhouse platform handles these challenges by providing the Powercheck. This tool empowers property managers to define and execute structured steps throughout the onboarding process efficiently.
Here's an example checklist:
✅ Contract: The first step involves automatically generating and sending out the contract to the tenant for signature. This automated process populates the contract with data from the platform, and upon the tenant's signature, it's seamlessly stored in the system, marking the checklist item as 'complete.'
✅ Rental Deposit: Following contract signing, the rental deposit process is initiated. This can be automated or manually executed, generating a payment request with an online payment link sent to the tenant via email or WhatsApp.
✅ Site Inspection: Prior to key transfer, a site inspection is essential. As Powerhouse is built on Salesforce, the native Salesforce mobile application can be used to enable property managers to capture and upload site inspection photos directly to the platform in a structured manner. These images are instantly accessible, and associated inspection costs can be automatically invoiced to the tenant.
✅ Key Transfer: After a comprehensive site inspection, keys are transferred. As security is important, crucial information such as the date of transfer and the number of keys exchanged are documented in the system. Additionally, leveraging smart access tools, the platform seamlessly manages tenant access control, automatically granting access to the tenant as per the agreed terms.
A comprehensive overview of completed tasks and pending items is available at both property and contract levels. This structured checklist and automated processes provide property managers with a clear, efficient overview, streamlining operations and reducing time investment.
Enhanced Efficiency
Streamline the entire tenant onboarding process from application to key transfer, reducing paperwork and administrative burdens.
Improved Accuracy
Automate critical steps such as contract generation and site inspections to ensure all details are correct and consistent.
Boost Tenant Experience
Offer a more seamless and welcoming onboarding experience, enhancing tenant satisfaction.
CONCLUSION
In conclusion, managing tenant onboarding in property management is a complex task. But with the right approach, focusing on challenges like handling a lot of tenants and getting contracts right, property managers can ensure a smooth experience for everyone. That's where a good property management platform comes in. By using Powercheck to automate tasks and make everything easier, property managers can spend more time making sure tenants are happy and on growing their business. With the right tools, they can succeed in both areas. For every tenant, for every apartment, Powercheck ensures that nothing is missed, and everything is in perfect harmony. Efficiency isn't just promised; it's delivered, at scale.