Property management for real estate is growing in demand. Real estate companies are constantly searching for solutions to reduce the risks and release the strain on their workforce and workflow.
Issues like irrelevant data, poorly managed workflows, and ineffective communication impact the growth of real estate firms. The best way to reduce these risks and succeed in the business is to manage things well and make the best use of the newest and most suitable technology.
Real estate companies have started using innovative and coordinated tech solutions to address all the issues mentioned above and make things easy for property managers. Project management software for real estate is the best solution for realtors and property managers as it covers all aspects of property management and development.
REDA is a scalable, all-in-one ERP solution for real estate businesses. It is a cloud-based, Salesforce-integrated enterprise resource planning (ERP) ecosystem that connects every last “dot” – streamlining, synchronizing, and simplifying complex tasks as far-flung as accounting, inventory, and CRM to get results beyond what property managers and developers ever imagined. REDA is the most efficient Real Estate Management Software present in the market.
REDA property management software is the way to supercharge your real estate business. This blog discusses how it happens. Let’s find out!
REDA Provides A Centralized System For Managing The Whole Real Estate System
Realtors and property managers experience several hurdles in property management. There is always a fear that something may go wrong due to poor data management or inefficient workflow management. Effective property management is achieved when the managers know the most recent developments in the sector and work with new software technologies like AI, VR, AR, and others. REDA provides you with a single yet centralized platform in which you can handle multiple tasks, such as
Listing properties and updating them
- Fees and rent collection
- leasing and documentation
- Sales and Marketing & much more.
Therefore, it can be said that REDA Property management software is a one-stop solution for all real estate needs. Real estate management simplifies several tasks. Property Managers can enjoy centralized document storage, tenant information, and building & leasing information. The advantages of the REDA centralized ecosystem include
Accounting workflows integrated with approval, CRM & communication workflows.
- Automated rules-based bank reconciliations.
- Multi Company and Bank Accounts Management
- Intracompany Transactions Management
With everything in one location, things get simpler for you and your team to access information whenever needed, view your receivables, check your calendars, validate papers, and perform other tasks like tracking transactions.
Click to read why REDA is a complete, consistent, customizable, and collaborative real estate management solution.
2. REDA Improves Data Management
The biggest challenge for real estate firms is to secure data management. Salesforce real estate CRM by REDA can handle the profiles of buyers, sellers, properties, and other entities using a solid property management solution. They may store and interpret large amounts of data and assist customers in finding suitable homes based on specified criteria. Documents, such as:
- Contracts
- Invoices
- Receipts
- Building reports
- Financial reports
- Accounting charts
- Tax reports and other vital documents.
It is essential to keep important documents safe, which can be a cumbersome job. If all your company and leasing records are stored in digital formats, they can be easily managed and accessed using property management software. A seamless sync between the company database and REDA will enable syncing of the complete data. All the real estate listings, sales, marketing, and leads can be managed through a centralized system from any location. The synchronized unified Property management interface saves property managers time and effort by preventing them from switching between several tools on the screen.
Explore how REDA Managed Services enables you to tap into REDA's domain knowledge and technology expertise for the best management processes.
3. REDA Streamlines The Tenant Screening Process
With the screening system in place, it helps you avoid fraudulent profiles of people. It gives you classified information as it's linked to different databases, including the Justice Department and the credit bureau. This helps protect tenants' phony transactions and enables you to get clients with a good reputation in the market. REDA’s Screening + Showing feature allows you to reduce risks of non-payment, tenant eviction, and property damage and get a clear and concise image with SafeRent resident screening reports. Some Applicant Management features of REDA include:
Online Lease Applications
- Tenant Screenings & Credit Check
- Application Fees Billings & Receivables
- Credit Report & Score
- Eviction and Address History
- Multi-State Criminal & Sex Offender
Apart from this, REDA also provides Lease Management through:
One-click Conversion from Leasing Prospect
- Configurable Leasing Journey
- Resident Portal
- Term-based Rent Setup
- Administration & Move-In Charges
- Recurring Charge Setup & Billings
- Lease Agreement Templates & Electronic Signatures
- Late Fees Setup & Billings
- Move-In and Move-Out Checklist
- Terminations & Evictions Management
- Misc Charges and Credit Memos
- Renewal Opportunities Automations
With the help of the features mentioned above, you can adequately vet prospective tenants and buyers by checking their credit histories and confirming their identities.
Reduce no-shows with Self-Showings. Learn more about screening + Showing features of REDA!
4. REDA Provides Secure Online Payment Options
The foundational elements of the rental property also include rent collection. The most widely used methods for collecting rent include physical cash collection, cheques, money orders, and credit cards. Collecting personal cheques has obvious drawbacks because they may bounce and leave a substantial cost that the landlord would pass on to the tenant.
On the other hand, manually collecting cash takes a lot of time. Ensuring the money is deposited when it should be and in the proper account takes a lot of work and time. REDA offers a “Pay Station” designed to help you capture more revenue. Now you can speed up rent collection and eliminate bank runs by adding convenience for your residents and staff. Our Pay Station is a complete account receivable solution and provides 100% native integration with Stripe to collect payments quickly.
Apart from multiple payment options, REDA Pay Station allows you to receive payment for almost anything and manages almost every payment, from Convenience Charges to
Refunds and Dispute Amounts, Automated Deposits, and Duplicate Payments.
The image above shows how REDA automatically extracts information from uploaded documents. Click here to explore more!
5. Reda Allows Complete Content Management
You can manage your user portals and create and update your portfolio and entire website, including design, content creation, forms, and data, all within your Salesforce account. With REDA CMS, you can host your entire website within REDA. This makes things easier and simpler. REDA CMS for property management can seamlessly integrate with CRM and your process workflows like leasing applications, payments, listings, search, etc. REDA CMS lets you make your website completely dynamic by providing real-time updates with version control management.
REDA offers meta-rich content management in real-time, allowing:
Property Views
- Floor Plan Sketches
- Site Maps
- SEO Website Descriptions
- Meta Tags
- Real-Time Updates
You can enjoy user-friendly modes of adding and deleting pictures, updating descriptions, and providing a virtual property tour. For clients seriously interested in buying property, you can send them alerts about the property availability using REDA only.
Concluding Thought!
The property management software market is expected to grow at an exponential rate. It currently values $14.47 billion and is projected to rise to $22.04 billion by 2023. Therefore, real estate businesses, as well as landlords, would definitely be going to need reliable and efficient property management software. REDA could help them manage all their property profiles, sales, marketing tasks, and workflows, resulting in a direct cost savings of $1.20m per year in a single department. What are you waiting for? Feel free to contact our team to schedule a demo at +1 (877) 315-7277.
