WHAT IS PROPTECH AND WHY SHOULD YOU INVEST IN IT?

For decades, Proptech has been streamlining the property industry, making for more efficient, secure, and transparent processes for estate agencies, letting agencies, property management and maintenance firms.

Now in its third generation, Proptech has been refined and developed to encompass all areas of the property sector, from VR and AR to Big Data and Fintech. Particularly in the age of COVID-19, these new technologies have become a vital tool in not only helping businesses run smoothly, but also helping them survive. Many businesses in the property sector have approached the development of Proptech with enthusiasm, and CEOs and investors alike are confident that the pandemic will only speed up the adoption of Proptech within the industry.

The latest addition to the Proptech market is the EZ Property Reports app, which has been developed to:

  • Generate more income streams
  • Improve Team Management
  • Improve Compliance
  • Improve Customer Service

Below is a more in-depth look at each point and why you should consider investing in Proptech and the EZ app to help your business run at a higher level.

Generate more income streams

Property management often involves outsourcing a number of services, such as property reporting and tenant referencing. However, investing in fully customisable software that enables these services to be carried out in-house is a far more beneficial and economic way of doing things. By cross-selling these services to landlords, you can get paid for every sign up and therefore generate extra revenue for your business.

EZ’s new state-of-the-art app can add impressive income to your business by allowing you to carry out your own inventory reports, check in reports, midterm inspections and check out reports. Complete with voice recognition, electronic signatures, auto-integrated date stamp photographs and a list of commonly used phrases, this app presents an easy solution to completing property reports in house and generating extra revenue streams.

The EZ Property Reports app is well-positioned on the market alongside other white-labelled applications, such as Goodlord and Vouch, which offer tenant referencing, deposit replacement schemes and rent protection insurance. These apps offer an excellent opportunity to generate income as well as improving your customer service by offering extra features for your landlords all under one roof.

Improve Team Management

It can be hard to find a system that allows for effective team management, without spending too much time on administrative tasks or repeating tasks unnecessarily. This is an area where Proptech applications are vital to ensuring that you are never understaffed and are organising your team in the most efficient way.

With a number of organisational features such as booking diaries, appointment agendas, integrated maps and even the ability to approve and manage team holidays and availability, the backend platform of the EZ Property Reports app allows you to manage your team effectively, even while on the road. The result is improved team management and less calendar clashes, which in turn leads to better productivity within the department.

And it doesn’t stop there. By integrating the app with your current CRM software, such as Reapit, you can fully benefit from the time saving features of the app whilst eliminating doubling on simple admin tasks. In fact, one of our clients has reported saving an estimated 117 hours per month on administrative tasks within their large property management department!

Improve Compliance

It is so important to remain compliant to rental property laws and health and safety regulations when dealing with rental properties, but so often do compliance issues and maintenance works fall through the net due to human error. Proptech has proved to be an excellent tool in helping agencies remain compliant to rules and regulations, which in turn helps improve customer service.

The EZ Property Reports app has a toggle function that allows clerks to flag compliances issues and necessary maintenance to the letting agent immediately. By eliminating human error, agents can sleep well at night knowing that they are always compliant.

Furthermore, Proptech has played a key role in the past year in helping the property industry react to the COVID crisis. Video technology and virtual reality software have allowed viewings to be conducted without prospective buyers leaving their home and have facilitated no-contact valuations and appointments with estate agents, conveyancers, solicitors, and mortgage advisors. Electronic signature software, featured in the EZ Property Reports app, has been a vital addition to any property business, as they allow documents to be securely signed without physical contact with the client.

Improve Customer Service

Maintenance work can easily get missed due to miscommunications, human error or poor reporting systems, and this can lead to unhappy customers. Investing in property management software like Fixflo can ensure that maintenance is dealt with quickly and efficiently.

When an inventory report, check in report, midterm inspection or check out report is completed on the EZ app, any maintenance or safety compliance issues can be flagged and a list of these issues emailed to the property manager, as well as being highlighted on the dashboard. This prevents maintenance work from getting lost and therefore improves customer relations as managers are able to provide a speedy service.

To find out more about the new app by EZ Property Reports – click here – to start your journey to more efficiency, less stress and higher profitability.

 

 

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