We paid a recent visit to a property management company, or MA, as commonly known in Singapore.
Automating Paper-based Processes
Upon entering, I was immediately struck by the amount of paper everywhere. From fully stuffed ring binder files to bundles of receipts; even the walls were covered in Post-Its and other notes. Amidst the general clutter, one small laser-printed sign stood out. Stuck to the wall directly behind a work station, it read: "Overworked and underpaid".
While seemingly trivial, this note seems to embody the problems that beset the property management industry currently.
The Need to Improve Property Management Margins
Customers, being the MCSTs, demand higher service levels while asking for lower fees. However, property management is manpower-intensive with lots of paper-based processes. The cost of manpower only ever goes up, while at the same time, there are no barriers to entry for new players. Is it any wonder then, that margins in the industry are being squeezed?
We developed our software to address many of these pain points and have seen how our customers benefitted from adopting the platform.
Instantly Generate to Financial Reports
Our vision is to drive towards a more sustainable property management model. One where residents rely less on having warm bodies in the estate office to handle mundane tasks like facility bookings. Instead, residents access services on a mobile app and drop off checks at a self-service kiosk connected to a cloud-based accounting system. Payment collections are seamless and automated end-to-end from invoicing to bank reconciliation.
Effective Facilities Management for Residential Estates
Meanwhile, estate data including maintenance records, asset and equipment lists, are stored and accessible online. This allows security guards to act as on-ground eyes and ears, reporting faults through an app, which seamlessly creates work orders managed from a central location.
The first step towards realizing this vision is to implement an integrated property, leasing and facilities management platform, such as Qornerstone by IBASE Technologies.
Software Automation With No Upfront Investment
Pricing starts at $250 per month. Call +65 6557 2516 for a no-obligation system demo. Quote promo code SMARTMGT for a 6-month free trial for the first estate with unlimited user accounts.