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3 tips to optimize rental revenue from Lamoosh's blog

Rental billing is such a routine process for real estate agents that it is unlikely to be a target for improvement. However, a closer look at your company's processes can reveal opportunities to reduce costs, increase productivity and reduce the possibility of errors. As much as rental invoicing is a very common process for any real estate company, it is still a process that can be optimized in several ways.

Thinking about it, here we have separated 3 essential practices for you to raise the rental revenue of your real estate to the highest level.

1. Attention to information management

Registering information in documents or spreadsheets can be the way of working for many real estate companies, but that does not mean that this is the most efficient way to deal with data management. Decentralized systems make room for duplication of information and undue changes. In addition, they make it difficult to generate reports such as lease billing. The ideal, therefore, is to have a unified software for use by all employees.

Even companies that have a unified system can make mistakes in not establishing a routine for constant updating of information. It is important to keep in mind that updating your rental data frequently results in significant time savings when it comes to issuing reports and charges.

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2. Batch processing

This tip mainly concerns the increase in the team's productivity. Let's consider, for example, a real estate company that manages 200 rental contracts: the employee responsible for calculating the billing of all units and, subsequently, generating all collection bills, probably dedicates days to this activity.

It is at this point that the adoption of a technological tool can make all the difference. Using the registered contract data, a management software can generate the billing calculation in batches, as well as the collections. This means drastically reducing the time spent on mechanical and repetitive tasks, allowing the team's talent to be better used for dedication to customers.

3. Automated billing

In the previous topic, we mentioned the possibility of issuing billing in batches using software, eliminating the need to generate slips, one by one, through the bank's system. However, there are companies that work with the payment of rent personally, at the head office of the real estate company. It is important to note that this type of charge should be extinguished in the coming months - learn more about Febraban's definitions of registered charge.

In addition to ensuring compliance with the rules, automating the collection process can mean cost savings for the real estate company, since it eliminates the need for service within the company.

Source: Tajarat.com.pk

 


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