If you are as old as me, you will remember the days before computers and mobile phones became common place. When I started my property management career way back in 1984, all records and accounting were done by hand. The most modern piece of equipment we had was an electric typewriter and a photocopier. During those days, it took two people working full-time to manage around 80 properties. All rents were paid by cash or cheque and all monthly Statements for our Owners were typed one at a time by hand.
How things have changed! Our first computer and first property management software cut our end-of-month procedures from two people working 4 days each month to one person doing it all in half a day! The results were simply astonishing! That was the day I realised that computers were definitely the way of the future.
Today, one Property Manager can manage 130-150 properties with appropriate accounting back up from a support person. Inspections are now done with iPads and emailed to our clients. Rents are all paid electronically as are pretty much all disbursements of funds. The savings in time are considerable!
At Kevin Hodges Real Estate, we are always looking for improvements and efficiencies in our work. We are currently looking at implementing internet access to records for our Landlords and Tenants, somewhat like being able to check your bank statement on-line. We are also investing in video in-going inspections to further enhance accuracy and save time. We will of course be keeping our clients fully informed as these new developments take place.