June 12, 2023

3 Corporate Housing Software Tools for the Modern Property Manager

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Choosing a PMS that specializes in hospitality is the most suitable option for corporate housing since features are industry-specific and concentrate on giving guests a positive experience. With software solutions designed for corporate housing, you will simplify operations, including taking care of guest reservations and personalizing their stay.

Below, we’ll cover the top three ways you can use corporate housing software solutions to satisfy your tenants and lead your business to operational excellence.

 

3 Ways Corporate Housing Software Can Improve Your Property

 

1. Centralize Property Data

With a consolidated property management system, you can access all of your property’s information on a single cloud-based platform, including booking information, personnel task tracking, reports, and more. 

Mobile-friendly corporate housing software improves operational efficiency between properties and allows you to access important data anytime from any location. For the management of multiple properties, centralizing data enables seamless access to guest records, property information, and payment information rather than having to physically visit each location. 

Rich Business Insights Across Your Properties

For corporate housing, it’s important to gain insight into each area of your business to attract new tenants and provide the best experience possible for them. 

With business intelligence tools (BI), you can measure the effectiveness of your marketing channels and see which ones are generating new guests for your properties. Additionally, you can collect crucial data and combine it with your existing analytics in a comprehensive report.

These in-depth analytics highlight areas of operation that can be improved to boost both the guest experience and your marketing capabilities.

 

2. Labor-saving Communications

Proper communication with your tenants is crucial for creating a great guest experience and streamlining your operations to help your staff. However, keeping track and communicating with each guest can be challenging — especially if you provide contactless services.

Failing to provide adequate communication can lead to:

  • More negative reviews and feedback from tenants
  • Significant drop-off in revenue
  • Reduced return rate from your tenants

Creating a great experience with the right communication methods allows you to focus on other areas of your business and improve your operational efficiency.

The right rental property management software solution achieves this.

Enhanced Guest Communication

With your corporate housing software, a guest portal can be a great tool for contactless operations and making your guests feel at home. 

A guest portal allows you to communicate with your tenants promptly, solving the inconveniences of indirect communication and ensuring your tenants are satisfied.

For instance, if your tenants need to request maintenance or need to modify their payment options, they can communicate directly with you via the guest portal. 

Streamlined Task Management

Your guests aren’t the only ones you can communicate with via a portal. With a staff portal, you can further enhance your productivity and streamline communication with your employees.

If your guests have communicated with you in the guest portal about purchasing housekeeping services, you can quickly communicate with your staff in the staff portal to provide these needs. With this feature, you can:

  • Assign staff to different properties or rooms
  • Designate different tasks to staff members and provide schedule visibility
  • Notify staff of incoming/outgoing tenants to stay on top of housekeeping and maintenance

 

3. Take Advantage of Advanced Payment and Revenue Management Tech

Communicating with your guests and staff is just one piece of the puzzle for creating a cohesive business backed by modern technology. You need more advanced payment and revenue management.

Online payments streamline the management and payment processes. You can access data across all properties from a centralized platform. You'll know in real-time the status of payments so you can ensure accurate revenue data around the clock.

Corporate housing software provides the ability for your guests to make their payments on their terms securely while also helping manage those payments.

Several Secure Payment Options

Gone are the days of mandatory front desk trips for making payments. Travelers today expect you to offer a way for them to pay rent online. Additionally, they expect multiple options for making those payments that are secure.

By meeting these expectations, you’ll not only satisfy your tenants and provide them with the convenience they expect, but you’ll also improve your marketing and bottom line. The right corporate housing solution can help you meet these demands and more.

With an integrated guest portal, you can view all of your guests' information, including the total cost of their stay, the needed deposit, and the rent still owed. Tenants can visit a separate screen to make quick, secure rental payments with their preferred mode of payment.

Automated Accounting and Revenue Management

In addition to providing multiple secure payment methods for your tenants, it’s just as crucial for you to optimize your revenue management processes. 

Streamlined accounting and revenue management tools within modern corporate housing software can:

  • Free up your staff to focus on other tasks
  • Ensure your guest payments are handled without risk of errors
  • Operate as an accounting assistant to manage budget and revenue

Modern property management software makes it simple to access and manage your money. Various accounting features allow you to handle the funds belonging to individual owners, and you can choose to keep your money in separate accounts or in one large bank account.

Expense management tools in your corporate housing management software can help optimize your operational budget by providing you with a detailed picture of your accounts and revenue. 

Regardless of how many properties you manage, cloud-based corporate housing solutions make account and revenue management seamless. 

 

Choosing the Right Corporate Housing Software for You

To give your guests that “home-away-from-home” feeling, corporate housing needs a specific strategy. With the right software for your corporate housing business, you can achieve this, alleviate management challenges, and much more.

Solonis is designed for corporate housing managers just like you and gives you everything you need for efficient property management. From remote communication to multi-property management, Solonis gives you the tools you need to improve your operational efficiency and boost your revenue, all while providing a great guest experience for your tenants.

See how our corporate housing software stacks up to other options by downloading The Ultimate Property Management System Comparison Guide.

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