Property rental companies have many things they need to worry about throughout the course of a day. Manually sending out rent payment reminders shouldn’t be one of them.
Some property management companies send out reminders to their tenants each month, letting them know that their rent is due. Manually sending these reminders to each tenant can take up a lot of time. This time is precious when you have other things to worry about, so why not implement a solution that can take care of the whole process for you?
An automated rent payment reminder solution will increase your company’s efficiency since you won’t need to worry about completing these tasks manually.
In this blog, we will go over four of the main benefits of having an automated rent payment reminder solution. If you’d like to learn more about the steps of implementing this process, check out this blog.
All Information in One Place
Many property managers use a spreadsheet to manage tenant information. While this can be effective if you have a small number of tenants, this spreadsheet will soon become cluttered and hard to manage once you expand.
The solution to this issue is to have all your information in one spot where you can easily scroll the data and find specific tenant information. When you set up an automated rent payment reminder solution, the first step is to build your tenant database. This database creates a profile for each tenant that contains their name, contact information, address, and any other information you may need. So, when the time comes to send out reminders, all the information is there for you.
With a manual rent payment reminder process, property managers will need to create a new message each month. However, with an automated process, you can create a set of message templates that can be sent automatically whenever the rent is due.
Each payment reminder template can be customized to fit your needs. Some common pieces of information to include are the amount owed, instructions on how to make the payment, and the rent due date. Creating a clear and concise message template will ensure that the tenant has all the information they need to make their payment.
Another important feature of these message templates is having the ability to easily personalize them. With the use of merge tags, each tenant will have their own personal information placed into the message template. This happens automatically each time you send out the rent payment reminder message.
As mentioned above, using a spreadsheet for your tenant information can be useful when you have very few tenants. When you gain more tenants and your company grows, this process will quickly become inefficient. You will be spending unnecessary time searching through an unorganized spreadsheet for some information that may not even be there.
With an automated rent payment reminder process, you will see an increase in your overall efficiency. You don’t have to look for tenant information and the reminders are sent out for you, which will decrease your manual tasks each month. This sounds like a win-win situation.
Lastly, after the rent payment reminder messages have been sent out, a report will be generated. This report will include useful data such as the click-through rate, open rate, and engagement with the message.
With a manual process, there is no way to capture this data unless you go through each individual message and take notes. The reports you get with an automated process can help you measure the effectiveness of your rent payment reminder process. There may be improvements needed in your messaging process and this report will point you in the right direction.
Interested in implementing an automated rent payment reminder solution?
If you are now wondering where you can get an automated rent payment reminder solution, look no further than SimplyCast. Here at SimplyCast, we have built a reminder solution with our automation tools that can help you simply and effectively send out payment reminders. The solution is easy to use and can be customized to fit any company’s needs.
Would you like to learn more? Click the button below to request a demo from our team and see how you can implement a rent payment reminder solution today!