How to use proptech for inventory reporting like a pro

Proptech offers many valuable benefits to property managers who are prepared to evolve their own habits too. Tech tools aren’t designed to replace the human element, but they can help agents be more efficient, compliant and effective in what they do. It’s important to remember its success is down to a team effort – even the very best proptech still relies on the expertise of inventory clerks, letting agents and landlords to make it work optimally.

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The importance of property inventories

Inventory reporting at check-in and check-out are essential components of a trouble-free tenancy. They provide evidence if a deposit dispute arises, demonstrate compliance, and flag maintenance and repair. All in all, they help to protect the property and all the parties involved.

It’s difficult to argue the benefits of conducting a thorough inventory – but they are weighty documents that take time to complete. They require an eye for detail and a commitment to assess every room and its contents without leaving a single item unturned.

It’s why digital inventory platforms have risen in popularity. These intuitive systems generate reminders and prompts, make it easy to capture photos and details, and file information in a way that is secure and easy to access.

Use them well, and they will save hours in admin, reduce mistakes and disputes, and keep you on the right side of the law. Use them incorrectly, and you could end up spending more time and money than you bargained for. At worse, you could leave yourself vulnerable to disputes, fees and costly repairs.

Become a master of proptech

If you’re considering new software for your inventory reporting, or you’re not seeing the benefits you expected from your technological solutions, these pro tips could help:

To get the best out of proptech you should:

  • Take advantage of all the features. Look beyond the marketing of an app or platform and ask for a walk-round of what the software can really do. Too often, people don’t leverage the full power of these digital solutions and fail to see the massive ROI that can be achieved in business.
  • Use all the time-saving tools. Whilst these platforms can’t replace your expertise, they pack a punch when it comes to streamlining workflows. Utilise tools like audio-to-text, which allow you to record your observations verbally. The platform will then convert that audio into words, saving hours of typing. Similarly, use the inbuilt cameras when taking property photos, as this will automatically link to relevant documents and speed up filing. This also makes access super quick and easy too.
  • Make changes to how you work. You’d be amazed how many people bring on new technology but don’t update their processes. New platforms give you the opportunity to give your workflows a shake-up and to achieve greater efficiencies in time and cost. But they only do that if you’re prepared to make the leap and learn new habits and ways of working. For example, stop printing out paperwork when you don’t need to. Learn to trust digital documents and online storage. You’ll make big cost savings here if you do.

Avoid these mistakes to get the most from your proptech:

  • Don’t be tempted to let tech do all the thinking. Whilst inventory platforms can provide useful prompts when conducting a property visit, too much reliance on a checklist can cause you to miss critical details. Each property is unique so always trust your instinct and expertise to look for signs of damage, mould, neglect, uncleanliness and wear and tear.
  • Don’t add unnecessary detail to your check-out reports. Because you’ll be completing inventories and linked check-in/out documents, you don’t need to add in notes or comments when there has been no change in condition or cleanliness. The systems will automatically record that as no change. Instead, spend your time on the areas that require your expert eye, further detail and evidence.
  • Don’t repeat actions and admin. These digital solutions are designed to prevent duplication and error. Take advantage of their inbuilt auto-complete functions, cut and paste features, and drop-down menus for speedier report completions.
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Inventory Hive: Property inspection software

Inventory Hive is a cloud-based property reporting and 360° virtual tour software, allowing for market leading paperless management of inventories, check-ins, interim visits, comparative check-outs, custom reports and easy to use virtual tours.