RPA is a technology that allows you to automate activities with a high level of uniformity and high monotonous rates. RPA’s capacity to conduct and automate operations like extracting data, data transfer and input, data upgrade, and validation allows real estate organizations to increase quality performance, pace, and productivity while lowering the chance of mistakes and decreasing staff effort.
10 RPA Technology Use Cases in Real Estate Industry
Following are the 10 use cases of RPA in the real estate industry:
- Onboarding of new tenants
The tenant registration process, on the other hand, involves a number of manual and time-consuming activities, leading to a poor user experience.
To manage rule-based activities in the tenancy application process, RPA bots can be developed to retrieve and analyze information.
- Reminders about payments
Late fees are a tedious, and emotionally challenging aspect of property management. Establishing a bot to verify monetary transactions for payee data and send notifications to non-paying renters is one way to automate rent payment details.
- Handling of a Portfolio
Portfolio management is the practice of preserving and increasing the value of real estate investments. This can be accomplished by organizing different resources or by purchasing or disposing of individual portfolio elements to enhance or decrease portfolio assets.
- Account Reconciliation
RPA can automate the collection of financial records from various banks’ documentation, as well as the settlement and comparisons of these bank records with the ledger accounts.
- Calculations of the Net Asset Value
RPA systems can help real estate investors streamline some of the procedures in the NAV calculation process. The physical and labor-intensive tasks involved in calculating NAV include gathering, verifying, and interpreting market data.
- AML/KYC (Anti-Money Laundering/Know Your Customer)
RPA bots may harvest customer data from different domestic sources and check current customer information on purchases. Customer information can be independently verified or forwarded to an expert for evaluation.
- Automation of the Accounts Payable (AP) and Accounts Receivable (AR)
Invoice processing by hand is costly, lengthy, and error-prone. Hyper Automation, which combines modern technology with RPA, allows for 80% no-touch AP automation for invoicing.
- Verifications of income, employment, and references
Bots can help in retrieving the information applicants. So, it can successfully verify employment, income, and other data given by the applicant.
- Remove any properties that have been sold or rented.
Bots will update the sold-out/rented assets from the business system on a regular basis. The bots will also update the data on dozens of websites to provide maximum awareness of the assets to the company and the general public.
- Vacant Property Updates
To get greater visibility, get the list of unoccupied houses from the corporate network on a regular basis and modify the data in several property investment search portals.
SmartOSC DX – Best RPA Services for Automation for Real-Estate Sector
Would you like to increase your profitability at your real estate office? It is high time that you should consider automating the real estate site and other social media sites. SmartOSC DX RPA developers and RPA consultants will help your company in identifying and automating the different business processes.
In order to contact our team, visit our website.