Potantial of monday for Real State Management

Monday.com is one of the leading project management tools with success stories across industries.

It can be an excellent option for any real estate agency who wants to structure and digitize their agency. As one of the leading project management tools, Monday.com has much to offer.

All you need to do is standardize your current processes and map them in Monday.com in an efficient way.

You don’t even need to be a tech geek to use Monday.com!

All you have to do is hire a Monday.com expert to set up the tool for you and train your team so everyone can use it efficiently.

The benefits and impact of using monday.com or any other PM tool totally depend upon the way the tool is integrated.

However, we have listed some benefits that our real estate clients have achieved using PM tools;

• Helps you manage your properties in a well-organized and efficient manner.
• Enable you to track the progress on tasks related to any certain property or asset.
• Let you turn geeky data into user-friendly visuals using Dashboards.
• Allow you to track the performance of your team members
• Enable you to automate repetitive tasks so your team on more important tasks.

If you are flipping assets, renting homes, or leasing properties, proper management remains the core part of your business.

Monday.com lets you store all the properties efficiently so that you can access every detail related to a property, anytime within a few clicks.

Days are gone when you have to jump spreadsheets to a minor detail e.g.
Is a certain property available or not?
Or

Is the newly bought property ready for new tenants?

Let’s have a look at a property management board that we created on Monday.com for one of your clients;

<—Add the screenshot of Property Board—>

Property List, a Monday board was created to store the properties.

Each property was added as an item to the boards while the columns were created to store every required detail like the current status of the property, checklist of renovation tasks, location of the asset, and so on.

Leasing is one of the biggest services in any real estate agency. Especially in bigger cities like New York, where property prices are continuously soaring, everyone wants to make a long-term investment instead of just flipping the properties away.

That’s why most real estate agencies focus on acquiring lease and rental properties so they can generate recurring profits.

One of our clients was also in a similar business.

They had a portfolio of 120 million worth of mobile home parks and RV campgrounds.

With a huge portfolio spread across different states, they struggled to manage their properties and the leasing process.

We digitized their leasing process in Monday.com, which helped them track every stage of the process, from lead generation to lease signing.

This has helped them to streamline their operations and improve their efficiency.

Real estate agencies face a constant challenge: finding the right properties to acquire and grow their businesses.

This can be a daunting task, as there are many factors to consider, such as the location, condition, and price of the property.

To help real estate agencies make well-informed decisions, we have developed a detailed due diligence framework that covers the entire acquisition process, from lead management to renovation.

Our workflow begins with managing the leads or properties that we can identify as the most promising. Then, there is a detailed inspection of each property to assess its condition and potential.

Once a profitable property is identified and earnest money is transferred, we can manage the tasks related to the transfer of ownership and renovation that will make the property ready to flip or lease.

Our due diligence process is designed to help real estate agencies minimize risk and maximize their investment potential.

Success in the real estate business depends on making the right decisions, and making the right decisions requires precise data.

To decide whether a certain property aligns with your goals, you have to consider multiple data points, such as the location of the property, the annual growth of the property in that area, the average household income of the locality, and so on.

Spreadsheets are commonly used to store this type of data, but let’s be honest: no one has the time to store or access data from hundreds of items in a spreadsheet.

That’s why we developed a dashboard for one of our clients in Monday.com, a cloud-based project management platform.

This dashboard allows our client to visualize their real estate data in a clear and concise way, making it easy to identify trends, patterns, and outliers.

The dashboard includes charts and graphs that track the performance of different properties, the market trends in other areas, and the overall health of the real estate market.

This information helps our clients make better investment decisions, save time, and improve their bottom line

As a US-based real estate agency, you must be aware of the tiring yet highly important part of the leasing process: tenant screening.

The process usually involves too many information requirements, legal conditions, and consent letters.

While this may not be a big part of your leasing process, it is enough to keep your leasing agents busy with repetitive tasks, which can ruin their efficiency and the agency’s profitability.

That’s why we recommend adding a third-party screening solution to your agency’s arsenal.

A tenant screening solution gathers data from applicants, runs it through their database, and lets you know whether an applicant has a criminal or credit history.

Using a third-party tool also frees you from the liability of obtaining consent from the applicant, as these solutions typically do it for you.

By doing this, you can save your team from extra effort and protect your agency from the risk of being sued due to an objectionable lease.

There are many different tenant screening solutions available, so you can choose the one that best meets your needs and budget.

• Standardize the processes of your real estate agency.
• Replace your costly real estate tools with the well-integrated Monday.com platform.
• Set up your property management system to break free from geographical limitations.
• Digitize your leasing system to make the process more efficient.
• Manage property leads in Monday.com boards to have better visibility of available options.
• Utilize the dashboards to make data-driven decisions.
• Use third-party screening solutions to standardize the tenant screening process.