Because your property management software is more than just a digital filing cabinet.
Your property management software (PMS) is like that overstuffed junk drawer in your kitchen—you know it’s full of useful stuff, but good luck finding anything without a treasure map. Most PMS platforms are excellent at hoarding data but notoriously bad at telling you what that data actually means. Enter Stella, your AI-powered assistant who turns that data chaos into actionable insights.
Here are 5 overlooked metrics Stella can bring to light:
1. Spot Utility Overages
Utility bills can quietly drain your profits. With Stella, you can detect unusual spikes in utility usage before they become costly problems. Considering that AI can reduce energy costs in buildings by up to 25% through predictive analytics, this isn’t just smart—it’s essential.
2. Predict Lease Renewals
Stella analyzes payment patterns, service requests, and other behaviors to forecast which residents are likely to renew. Given that 47% of property managers already use AI for real-time analytics and strategic planning, it’s time to join the data-driven club.
3. Track Resident Behaviors
From frequent maintenance calls to early rent payments, Stella identifies patterns that can indicate resident satisfaction or potential churn. With predictive analytics, property managers can stay ahead of market trends and identify potential risks, you’re not alone in wanting to understand your residents better.
4. Identify Revenue Leaks
Missed late fees, undercharged pet rents, and other small oversights can add up. Stella helps you plug these leaks. Considering that property management software can help increase cash flow and ultimately increase profits, it’s worth paying attention to the details.
5. Optimize Occupancy Trends
Stella doesn’t just track occupancy rates; she helps you understand why some units sit empty longer and what drives faster lease-ups. With predictive analytics, property managers can stay ahead of market trends and identify potential risks, you’ll be in good company.
Sources: Time, Time, Gather Vacations, Manifestly, Atlantic Council, The Counselors of Real Estate, Entrepreneur, Booking Ninjas