Property owners, rental managers, and other real estate professionals need a way to work more efficiently. Property management involves many tasks, the most common being screening and approving tenants, preparing lease agreements, collecting rent, doing property maintenance, etc.
A good property management application offers notable benefits. Do you need property management software? Yes, and here’s why;
You’ll Get Better Tenants at a “Click”
Initially, property owners just want their buildings fully occupied. However, with time, they notice the importance of having quality tenants. A bad tenant will not only increase maintenance costs but also have trouble paying rent on time. They may also be a nuisance to others and make good tenants leave.
Before property management applications, property owners and property managers relied heavily on manual vetting. The best property management software today comes with screening features that allow landlords to automatically generate credit reports, criminal reports, and eviction reports of potential tenants.
You’ll Automate Bookkeeping
Property management also involves a lot of Bookkeeping, from tracking rent to expenses, maintenance costs, and more. Good property management applications automate the entire process. Tenants can pay rent automatically/online, get receipts, and generate rent reports.
Property owners can also connect the software to their bank accounts to access funds online from anywhere and generate reports that show rental status. It’s even possible to automate payments to property managers among other staff. Automatic recording and dispensing of income and expenses makes property management extremely easy.
You’ll Automate Communication
As a property manager or owner, one of the biggest day-to-day tasks is communication. You need to issue rental reminders, late fee notifications, lease expiry reminders, maintenance schedules, and other communication that tenants and staff need to know. The best property management application can be programmed to send most, if not all communication automatically via email, text, or other media. Tenants can also communicate effectively through the software without needing to call anyone.
You’ll Track Maintenance Easily
Property maintenance is a big part of property management. Property must be cleaned and maintained periodically. Some tasks are done daily, while others are weekly, monthly, or yearly. In the past, property owners relied heavily on property managers to do their job well. Today, all you need is good software.
As a property owner, you can check the status of every maintenance task as well as feedback from tenants. It’s possible for clients to have portals and send pictures, videos or submit written descriptions of maintenance issues. Tenants can also receive the status of repair work without having to call anyone.
Property managers can track tenant complaints, coordinate and manage maintenance personnel remotely, share maintenance tickets, and do many other tasks remotely from the software’s maintenance portal. Since the best software has portals for maintenance teams, property maintenance becomes a smooth process.
While there’s more why a good property management application is necessary, the above information summarizes the most important factors to consider.
Get the leading property management software in 2021 NOW! And say goodbye to common property management problems.