Why is the ERP system considered the “key” to real estate property management?

Why is the ERP system considered the “key” to real estate property management?

discover | Thursday - 25 / 01 / 2024 - 10:56 am

Real estate property management from logix , When our client parked his luxury car next to the company’s headquarter, we thought he is coming to buy it (we mean buying the whole company!) Surprisingly, he was asking about the sales management office instead of asking about the company’s management office.

In fact, he had a very real obstacl

For decades, his company remained able to supervise and manage dozens – if not hundreds – of real estate properties efficiently. His company became well-reputed and widely known (perhaps its name came to your mind as you read these lines!).

After the COVID-19 pandemic, this man’s company noticed that the behavior of real estate industry changed forever. Prior to the pandemic the field of real estate management relied largely on paperwork and face-to-face meetings but now the clients began looking for digital services.

People nowadays are accustomed to managing their needs online or through mobile applications, and the absence of such an opportunity may push them towards competitors (who are able to provide the required services digitally in particular).

The company was terrified because of the new situation in the market, this visitor said, “my company tried to use different tools and systems to manage real estate properties, however, we faced a new challenge; those systems and tools were so complicated that a person in my age could not understand how to operate them, and that is why I came to you.”

We were pleased that the client turned to us. We love dealing with that smart customers who “know what side their bread is buttered on”.

It is no secret that relying on traditional methods is no longer effective in a fast-paced and highly competitive world.  Unlocking the hidden potential of your real estate business and achieving higher profits, lower expenses, better service quality and improved customer experience, requires an unprecedented approach.

This is why an ERP system is the best tool the market can offer you. Due to the system multi-functionality and flexibility, it is possible to develop an ERP system specifically for real estate property management, thus enhancing any aspect of your business, starting from process automation till customer support.

Why did our client see our system as “a gate for opportunities”?

Our client would not have reached his position if he had not known that  opportunities hunting sometimes requires taking risks.

Since our client belongs to so called “the kind generation” which has no idea of digitalization, so he wanted risk to be “carefully calculated”. He said to us:

“You know that the most prominent challenge in the real estate field is the lack of communication between stakeholders, i.e. landlords and tenants. Our company represents a link between these two groups, and despite our efforts to simplify the workflow, the situation may still be critical.”

It was as if the client had pronounced the magic word, and here our sales manager began to talk to him about solving the problem (before the client had even finished explaining it): Sorry to interrupt you, sir, but I realized what you were getting at. You are looking for a way to simplify interactions between all three parties (landlords, tenants, and your real estate property management company).  You would like to speed up the resolution of various problems so that you improve the experience of tenants and enhance landlords’ confidence in your management of their properties. Our client smiled when when sales manager finished his speech.

“But I’m not looking for an ERP system” the client said. This client caught our attention when he told us that he was not looking for a traditional ERP system!… As he described, he had tested dozens of systems, but they still fell short. He gave us an example of one famous ERP system. It was required around a month for setting up and transferring company data into that ERP system!

On the contrary, our Logix Property Management System is designed – from A to Z – to suit our clients’ needs and requirements.

Our ERB system makes it possible for:

– adding the property within any country and in any city,

– specifying the branch of the company responsible for this property,

– specifyy a collection employee, and

– linking the property within the financial department to a cost center so that all revenues and expenses are linked to it.

On the other hand, the client’s company has to deal with a huge volume of data like;  real estate data, rents, tenants, landlords, lease contracts and payments. Storing this information and providing quick access to it was a challenge, especially since it was still based on traditional spreadsheets inside various devices of employees.

The series of exhausting emails is boring because the customer has to wait for the requested spreadsheet/report to be sent!

But through a simple practical experience, our dear client saw how the required data can be found in our system within a few minutes.

Here we played our trump card “automation”!

Our employee chose his words carefully;  The client was not told abstractly about the automation feature, but rather presented him with a scenario as follows:

– Suppose that, at this moment, while you are sitting in front of me, you receive a call from one of the collectors asking you when the rent for a property is due, can you answer it?

– Yes, I have a copy of the due payments report on my mobile device.

– Very nice. However, you might have doubts about whether the version is “up-to-date,” right?

– Mm.. possibly.

– Great, so what do you say to someone who provides you with a system that sends automatic messages to tenants before the due date to notify them that payment is due or that the contract is about to expire?

– Can your system really do that?!

Here, we felt that we had gained the most important client in the history of our company.

To be honest, we wanted to tell him that the advantage of automation doesn’t stop at messaging, it contributes to significantly increasing the company’s productivity.  The repetitive manual tasks to which the client is accustomed may be simple but require a lot of time. When the system automates it, the company will get much higher results:

 First, the software will be able to complete some tasks much faster than employees,

 Secondly, employees will have the opportunity to focus on high-quality work.

We also wanted to tell him about the ability of the Logix Property Management System to create a foundation for making real, data-driven decisions and predictions.  This happens by structuring and organizing data, whether it is financial history or information in customer profiles that will be used in marketing and sales activities.  They are features that are usually found by default in any ERP system.  But, as we mentioned, we know that he is not looking for a traditional ERP system, so we remained silent.

Is Logix Property Management System considered as your best choice?

Well.. in our opinion, when we say “the best” this means the system is custom-developed and carefully designed by a team of experienced developers, supported by QA engineers, UI/UX designers, business analysts, architects, and others.

The above mentioned means that the system helps companies – specifically real estate property management institutions – in improvement of their operations and increase their profits… and this applies to our system.

So, the answer to the above question remains with you.