10 Features You Must Have in Your Property Management Software
Even if you’re an owner of a single duplex, having the right property management software is your best bet. This is especially true if you are a professional property management company managing several rental property owners. With a plethora of choices available in property management software, and most of them are good, you want software that has essential features.
Here is a list of ten must-have features of property management software:
- Maintenance Ticket Automation
When you automate maintenance work orders, it assures you of a central official record of notes, requests, repairs, photos, and conversations with respect to a rental property being available in real-time. Also, property management software for landlords ensures they get notified when tenants place requests for repairs or maintenance.
2. Efficient
No doubt, managing properties can be rewarding, but it is not an easy thing to do. When you use the right PMS, you will realize that you have more effective tools to complete the given job. With great property management software, you will be able to accomplish tasks promptly and get rid of complications from the tenants.
3. Easy to Monitor Finances
Using the right residential rental property management software will help you monitor your finances in an organized way. There will be features that allow tenants to make their rental payments online through specific portals.
4. Simple Accounting
Because you can track your daily finances in a much-organized way, you know that you will be able to manage large accounting tasks as and when they occur. When you streamline the accounting facets, you would know that they are not only saved, but also ready for you when you need them; thus, making the tax system less hectic.
5. Streamlined Communications
Another crucial feature of property management software is that it streamlines communications that will help you deliver an unparalleled customer experience. After all, communication is the basis of any great relationship, be it family or between owners, professionals, tenants, and property managers.
6. Mobile Applications
Property managers nowadays live in a mobile world. They have a lot to be taken care of — consistently meeting with their clients, inspecting properties, traveling from one place to another, and whatnot. That is the reason why it is crucial that your property management software is loaded with mobile applications to facilitate things for you. These apps will help you conduct inspections, respond to emails, access property, and contact data.
7. Enhanced Property Reporting
A property management report helps you comprehend the success of the PM and communicate it effectively to property managers. The reports help you explain expenses, know how much rent is paid right away, what amount is left in the account, etc. In fact, it is a great way to win your owner’s trust and confidence.
8. Convenience in Storing Documents
Having a place with the best property management software allows you to securely and conveniently store and retrieve documents. You would know how frustrating the amount of paperwork involved can be when renting a home or leasing a space for business.
9. Maintenance
Maintenance is one of the important features of property management, which is why it should be a core part of your rental property management software. You should be in a position and able to track jobs right from their start to finish, sending messages to your suppliers, and tracking jobs to be completed.
10. Quick Access to Information
You are a property manager on the go, so you never know when you might need access to your data. Using property management software will benefit you by providing you with fast access to the needed information. You can use any device to access the information you need.
No matter what industry you are in these days, it is the right software that makes a tremendous impact not only on productivity but revenue as well. Property managers, landlords, or asset managers are constantly searching for property management software with useful features that help them reap the rewards.
