A recent study by RentCafe indicated that about 14,000 build-to-rent homes (BTR) will emerge across the country throughout the course of this year. That's more than double the amount built in 2021.
With the influx of BTR homes hitting portfolios nationwide, it's more important than ever for BTR operators to streamline their operations and create efficiencies wherever possible. However, focusing on building their net operating income (NOI) shouldn't be far behind.
In the last installment of our three-part NOI series, we discuss how key software integrations can lead to increased efficiencies for property and maintenance teams.
What are Software Integrations?
Software integrations result from combining separate software programs or elements into one system. These multiple programs can share one database, creating ease of use for the end-user.
Why Integrations are Key for BTR Operators?
For BTR operators, this translates to combining key software, like property management software (PMS) and customer retention management tools (CRMs), so they speak to each other on one interface.
As the BTR industry continues to expand, operators will be faced with managing multiple communities that are often not located near each other geographically. They'll face countless daily tasks, oversee tours, and manage residents. However, with software integrations, their days become wildly simplified.
Rather than jumping from software to software and keeping track of each, teams should harness software that easily integrates with other pieces of technology to have one user interface that provides access and collects data. Doing so leads to teams saving time throughout their days, simplifying daily tasks, and increasing efficiency for all teams.
SmartRent's Integrations Takes Efficiency to New Heights
At SmartRent, we understand that busy teams need to make the most out of every minute of their day, so our integrations and partnerships go beyond software. We work with other widely used property management software and hardware manufacturers to provide our mutual clients with customized options and powerful automation solutions that fit their unique needs.
For instance, some integrations simplify daily operations for maintenance teams and vendors. These teams can easily access work orders from their own devices while also keeping track of them in one place. They also provide transparency for property teams managing work orders, maintenance teams, and vendors all in one place.
Other integrations with popular property management software provide easy workflows for mutual clients by utilizing one interface. This streamlines daily operations, avoids using and learning multiple platforms, and offers teams one source of truth. BTR property teams can streamline their operations and effectively manage their portfolio regardless of each community's location.
While maintenance teams are knocking work orders off their list, property teams can feel confident knowing that prospects are easily navigating the community using customized community maps, thanks to our integration with Engrain. These maps add another layer of convenience to Self-Guided Tours, as prospects can smoothly navigate the property and view homes without a leasing agent present.
Premium Hardware That Adds Value
As we work to make our users’ lives easier, we have strategically partnered with leading hardware manufacturers to provide clients and residents with value-added devices. Whether physical devices that add ease, like smart locks, or partnering with leading voice assistant devices that are sought after by residents, we provide users with best-in-class devices.
Building NOI Together
Building NOI isn't always just adding monetary value to your portfolio. Equally as important is streamlining your operations so your teams are working efficiently and comfortably with the software and solutions you are providing them. If teams aren't effectively utilizing the tools you're providing, you're not getting the full value of your investment.
SmartRent understands how to build NOI for BTR portfolios. Whether it's ancillary income streams, utilizing proptech to add value to your portfolio, or harnessing the power of integrations for streamlined operations, we help you achieve your goals in the way that best fits your needs.
To start streamlining operations, or adding ancillary income to your business strategy, set up a personal demo with one of our experts who can create the right plan for you.