As the cost of living rises, interest rates are hiked, and energy costs eat into disposable income, prospective buyers are delaying property purchases. This is good news for the residential rental property market, which is proving to be resilient in the face of current economic constraints.
According to TPN’s latest Residential Rental Monitor Report, the higher demand for residential rental property, lower vacancies due to a slowdown in supply, higher debt servicing costs and the increased cost of maintenance, security, and municipal services have resulted in a gradual recovery of rental escalation.
Property practitioners and managers are bound to see a jump in rental business going forward. With this, comes a need for a rental management and collection platform like reOS that can save time, money, and effort.
Not your average rental management tool
reOS intelligently invoices, collects, and auto-reconciles rental payments, while enabling one-touch disbursements to landlords, municipalities, and other beneficiaries. The software offers bank-grade security, branded customer communications, and unmatched automation.
“We designed the platform with the needs of rental professionals in mind,” says Craig Buckley, Managing Director at reOS. “It boasts cutting-edge, blockchain-enabled technology that automates and simplifies complex workflows, taking stress off your shoulders.”
In a challenging economic environment, TPN’s Squat Index shows an increased number of tenants who fall into a category of non-payment on a monthly basis. Buckley points out that reOS is perfectly designed to help landlords and managers overcome this situation.
“We’ve integrated with TPN so you can do tenant vetting directly from our platform,” says Buckley. “Our ‘nudge’ function allows you to track and follow up on all late rental payments professionally, with just one click. And you have accurate performance reports at your fingertips, so you’ll be aware of how your rental business is performing at all times.”
Future-proof your rental business
At present, 34% of households rent worldwide but this is set to increase to 59% by 2030. Buckley emphasises the importance of investing in the right software from the get-go.
“reOS is a solution designed for the present and the future,” he says. “Over the years, we’ve invested in the platform’s features. Being 100%-bank integrated, you can do one-click bulk payments, saving on bank fees in the process.
“We also continually add stellar end-to-end features and integrations such as Property Inspect (maintenance and inspections management), Lightstone (market intelligence), and EasyPay (municipal payments). These are aimed at helping you win more business and improve profit margins.”
Integration with a leader in proptech
A highlight is that reOS falls part of the same proptech investment group as Prop Data, a brand trusted by over 19,000 real estate professionals. Prop Data clients can enjoy reOS’s exceptional platform directly from their innovative Prop Data Manage (EOS4) management system.
“Being deeply connected with Prop Data Manage has some distinct advantages over other rental platforms,” shares Mark Buttress, CEO at Prop Data. “It allows for a seamless journey for rental specialists between listing, tenant lead engagement, and vetting. Furthermore, there’s the ease of use for digital application collection and approval, lease initiation, and the processing and reporting of associated payment collections.”
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