3 MDS features that help your real estate business run more efficiently
Commercial real estate stands at something of a crossroads. The industry has undergone some significant changes in recent years, in terms of the impact of sectoral stress brought on by the pandemic, but also with regard to the evolution of client expectations, as digital transformation changes the way that contractual relationships are handled.
One of the ways to improve the performance of your commercial real estate business in these uncertain times is through a focus on operational efficiency – a streamlined system can spare costly errors and remove poor communication. At MyDocSafe, we believe this focus holds the key to happy clients and a more productive real estate business.
The good news is that solutions are evolving to meet this advancing demand. Improvements made to software used for onboarding and document management can transform your business, improve ROI and help to both retain and attract new clients to your business. It allows for procedure and documentation to remain in a secure, organized and central location
In this article, we’ll explore three MyDocSafe features that can help your real estate management business to perform at optimum efficiency.
Streamlined Tenant Onboarding
Tenant onboarding can be a time-consuming process, reliant on a chain of actions that can easily be derailed or delayed. Each impediment slows your time to value, and risks the completion of the deal in question.
MyDocSafe facilitates automated onboarding workflows, allowing for the process to be completed quickly and accurately. Documentation is delivered through and stored within dedicated portals, so that clients can manage the intuitive process themselves with ease.
All client information can be automated and prefilled, giving them a streamlined and convenient experience. You don’t have to remind clients to finish the paperwork or follow-up – gentle nudges can be automatically scheduled, keeping everyone on track.
To give a professional and polished first impression when it comes to tenant onboarding, MyDocSafe enables full branding to be applied to your flows, building trust and recognition with your newest clients. This makes it easier for your internal team to have a standardized process for onboarding that is easily replicated and customized for new clients and to organize business plans. A streamlined flow makes it easier for your team to learn, and lowers training protocol for new employees.
Using a streamlined onboarding procedure, you can avoid unnecessary delays caused by lack of access to printers or postal delivery issues etc. All documentation runs through one system and is made accessible to all parties, bringing clients onboard faster and reducing the risk of an unproductive portfolio.
Finally, you have the benefit of including other essential actions such as collecting payment or signatures. So, no more chasing tenants or losing time tying up loose ends. It sends reminders and keeps you up-to-date on the progression of all clients. All of these actions are safe, secure and keep your real estate management organized.
Easier Risk Management
Given the fluctuation of the real estate market, it’s critical to focus on improving risk within real estate client management. MyDocSafe’s ability to create custom risk management scorecards can provide significant peace of mind when it comes to reducing risks associated with new or even established clients.
These scorecards not only help you get a dependable and accurate impression of your new clients, they also mean that scoring can be built into a well-designed MyDocSafe workflow for added efficiency and procedural organization.
Additionally, you can track (or chase) approval decisions from the appropriate authorities within your business to lessen any lag time. All of these accumulated tasks can amount to ‘death by a thousand cuts’ for your real estate business, diverting your attention from more pressing parts of your business.
Risk management is an essential element of the real estate sector, but MyDocSafe is able to automate this otherwise “painful” process, streamlining the experience for everyone involved. Clients can provide information at their own pace, and there’s less need to follow up, bringing peace of mind to you and your clients.
Having easy access to organized scorecards means that, if issues ever do arise, fast access to paperwork means that checks can quickly be made, and problems resolved. MyDocSafe also provides an easy way to ensure you have a clear paper trail, should the need to prove measures were taken to achieve compliance with regulatory requirements.
A Simple Contract Renewal Process
One of the most significant benefits of an automated document management system is streamlining of contract renewal. Remove all friction from the act of extending tenancies and contracts by working with a system that streamlines this critical element of real estate client management.
Implementing simpler contract renewal makes it easier for clients to stay. It requires less effort and can maximize the profitability of your property portfolio. You can pre-fill renewal forms and only request updates for documents that are flagged as having expired. It creates a seamless process, enabling tenants to update any necessary details that you don’t have access to, sign or authorize and send back immediately.
Using a system like MyDocSafe allows you to automatically track changes made to your tenant contracts and share all documentation through easily accessible and highly secure client portals. As the real estate sector necessitates careful documentation, the secure handling of confidential information and payment transactions, having a clear, traceable paper trail when it comes to the inevitable adjustments and amendments that often accompany a tenancy renewal is essential
MyDocSafe: More Efficient Real Estate Client Management
Real estate is currently in a state of exaggerated flux. The common thread across all locations and sectors is uncertainty. In the wake of the pandemic, commercial estate agents are facing unprecedented levels of risk and the need to continuously adjust their forecasts. As a result, eeing deals through to completion speedily and securely has never been more important.
By bringing new business on with ease and efficiency – and making it easier for existing clients to renew and remain – MyDocSafe’s safe, secure workflows and adaptable functionality offer the ideal solution. Ensure the steady progression of proposals and high levels of client satisfaction through exemplary relationship management, total transparency and improved, two-way communication.
