David Blank, an experienced leader in the manufactured housing industry, discusses the advantages of embracing technology in property management for rapid growth. Topics include overcoming growing pains, best practices for embracing technology, and how to use technology to fuel growth.
Embracing technology can drive rapid growth in property management companies by streamlining processes and improving performance.
Automation, such as custom reporting for owners and efficient communication with residents, significantly enhances efficiency and reduces the burden on onsite staff.
Deep dives
Harnessing Technology for Competitive Advantage in Property Management
David Blank of Blank Family Communities shares his insights on how technology can revolutionize property management companies and drive growth. Blank's family has a long history in property management, but he recognizes the need to embrace technology to stay ahead. Automation is a key focus for Blank, as he looks for ways to streamline processes and improve performance. By implementing technology solutions, such as automated applications and QR code scanning for property tours, Blank has been able to increase efficiency, reduce staffing needs, and provide a better experience for residents. He emphasizes the importance of finding technologies that align with key areas of operation, such as reporting, occupancy management, collections, and curb appeal.
Implementing Technology for Streamlined Reporting and Communication
One area where technology has significantly impacted Blank's property management company is in reporting and communication. By leveraging technology, Blank's team is able to generate custom reports for owners that cover key metrics, such as delinquency rates, collections, and occupancy changes. Automation has also simplified the process of compiling and delivering these reports, reducing the time and effort required from onsite staff. Additionally, technology facilitates efficient communication with residents, allowing for instant notifications, violation tracking, and inspection reports. Blank notes that these technology-driven improvements have led to fewer owner inquiries and more focused discussions during meetings.
Leveraging Technology for Efficiency and Scalability
Blank highlights automation as a key factor for achieving efficiency and scalability in property management. By automating tasks like meter readings and late fee notices, Blank's team saves time and allows staff members to focus on higher-level responsibilities. Automation also enhances accuracy and timeliness, providing real-time data on water usage and enabling proactive measures to address issues. The use of technology tools like Red Manager further streamlines operations by centralizing data and simplifying processes. Blank advises property management companies to prioritize technology implementation early in their growth stages to ensure seamless integration and maximize the benefits of automation.
After decades in the manufactured housing industry, the Blank family knows that "doing things the same way they've always been done," won’t cut it in the business world. As Blank Family Communities continues to adopt technology, their fresh approach to their business model is providing a path toward rapid growth. Join us as we talk with David Blank about his company strategy, how to overcome growing pains, and best practices for embracing technology.
