Managing student housing comes with unique challenges, as it is very different from any other type of property management. Its by-the-bed structure can make it a demanding task for a property manager to keep track of. It is imperative to make the job of managing these properties easier for yourself and more accessible for the students residing in them than if you were to rely on traditional methods.
Clueing yourself in on newer management systems can mean the difference between a chaotic scramble and a smooth-running operation.
Why is now the time to update your student accommodation management processes?
We are approaching the end of the academic year, which means the arrival of a new year and a new batch of students in a matter of months. This break in tenancies is the perfect time to try new ways of working.
How do I update my management processes?
Utilise technology
Technology can automate many aspects of property management, making smaller tasks much less time-consuming.
Embrace all-in-one software
Software often sets one property agency apart from another, even if they have similar processes. Searching for solutions specifically designed for student housing will ensure you have the right tools at your fingertips.
For example, if a property is an HMO with room-by-room rent, Arthur keeps everything in one place and can cut down on the time spent looking for what you need and investing in multiple systems. Gone are the days of paper scattered all over your desk—now every document is easy to find when stored on one system.
But how should you know what to look for in student accommodation software? Read Arthur’s blog on the subject.
Find out how Arthur can help you. Book a demo!
Make use of an online portal
Implementing an online portal relieves the stress of collecting rent payments and compiling maintenance requests. This streamlines processes for you and the students, allowing 24/7 access and faster response times. With Arthur, its portal makes communication between students and property managers much more efficient.
Arthur can track rents across multiple tenants. The software separates student tenants, allowing a property manager to see who hasn’t paid their rent on time. The system can also send reminders to particular tenants via the app or email, avoiding sending a message to the whole flat or house.
Allow for app use
Whether you implement an online portal accessible by mobile phone or have a specialised app, these will save you time in the long run. Most of the younger demographic's lives are on their phones so they expect faster, mobile-based communications. Taking a step towards their lifestyle rather than asking them to adapt to your processes may simplify it for students.
This would also allow for easier access to essential documents like move-in guides and lease agreements. Submitting maintenance requests and rent payments could also be uncomplicated.
Communication
There are all sorts of ways to communicate with tenants these days. Online portals and apps could be a nice way forward, but they aren't the only options. Email and telephone are still effective communication tools.
However, students can value messaging more than a spoken conversation. Chatbots can automate that process for you. To find out more about the uses of AI, read our blog.
Regular updates to tenants never go amiss, either. Students always value being kept in the loop with reminders of deadlines and upcoming maintenance work. Transparency is the key here, especially when being clear about expectations and addressing concerns.
Standardise procedures
Creating clear guidelines for usual procedures can be incredibly beneficial for a property manager. It frees up time and helps you focus on more strategic tasks. Standardising duties such as lease agreements, maintenance protocols, and move-in and move-out procedures avoids any confusion. It also ensures consistency within your work, which leads to efficiency and reduces the risk of unhappy tenants.
For example, tidying up maintenance projects can be done by categorising repairs, developing communication and establishing relationships with contractors.
Invest in preventative maintenance
Keeping on top of maintenance can be tricky. However, investing in planned preventative maintenance can prevent minor issues from escalating into something larger. If you are ahead of the curve, repair costs and compliance risk will be reduced, and the property value will be preserved.
Regular inspections of the property can catch problems early. This is how issues such as loose floorboards or clogged drains can be seen before they snowball. For example, a leaking faucet could be a quick fix if dealt with promptly or have the potential for mould growth later, turning into a health risk.
In most cases, students are living away from home for the first time. As a result, they could be less careful when renting a property than long-term tenants, therefore increasing the likelihood of issues going unchecked.
Final thoughts
These steps could improve communication, boost efficiency, and enhance the student living experience. By taking them, you can transform student housing management from a complex juggling act into a well-oiled machine, benefiting you and your residents.
Want to know more? Read our guide on student rentals.
