Let’s start from the beginning – what is PropTech?
PropTech is the new buzzword to describe the property technology industry. This term describes all technology that has been created in the real estate and property management industries, including apps, softwares and programmes that optimise processes and make businesses more efficient and cost-effective.
At City Relay Solutions, we recognised the need to invest internally in PropTech from the very beginning of our business in 2015, allowing us to be more productive from the get go. Quite simply, we can then pass on these efficiencies to our clients, for a win-win partnership.
4 ways PropTech can help your daily operations?
Getting the right information from your guests and landlords during the onboarding stage is crucial to reducing errors or mistakes in the future. Having a good PropTech solution allows you to:
- keep track of all notes and updates regarding the landlord or the property
- keep notes on any specific customised checklists required per property i.e. how to work the alarm, boiler and heating setup and any specific housekeeping requirements
- report damages and maintenance jobs required, and then use this information to anticipate future guests complaints
We all know that scheduling your daily operations isn’t easy – coordinating maintenance teams, cleaners, drivers and guests all in different locations – is likely to give anyone a headache.
Investing in a PropTech solution allows you to:
- map all services required each day
- group each individual cleaners activities together for a personalised schedule
- automate how much linen is required for each job
- plan the most effective and environmentally friendly route for your drivers
- react quickly to new jobs, and track the status of live jobs and when these will be completed
These are just a few examples of what you could achieve with a good technology solution, leading to overall reduction in overheads and time taken on each job.
A PropTech solution will allow you to react quickly to new jobs, track the status of each, and see a clear timeframe for completion. This means you can communicate with your landlords or guests confidently on the proposed schedules and timeframes.
Instant notifications allow you to see immediately any:
- Damage to properties, so you can claim back from deposits from booking portals or guests directly
- Maintenance issues, so you can anticipate any issues before the next guest arrives
- Instances where keys are missing for the property, so you can react before the next guest checks in
- Jobs that have been completed so you can tick them off your to-do list
Invoicing in the short let industry can often be one of the most complicated tasks. Using a PropTech solution allows you to easily:
- differentiate and work out booking commissions for each online travel agency, landlord etc
- differentiate which party should pay for each cost, i.e. the landlord or the guest
- cross check and keep track of all charges across the month rather than scrolling through endless emails or excel spreadsheets
- have access to past invoices and payment histories
As you can see, using a PropTech solution to manage your business is essential. We at City Relay Solutions, have continually invested in developing or partnering with key pieces of PropTech including:
DRIVE: our bespoke platform, capable of automating the operation of 1000+ units including reduced admin per property, greater flexibility, and ultimately higher margins for our clients.
Breezway, a property care and operations platform to help coordinate, communicate, and verify detailed work, and deliver the best service experience to clients.