Six Basic Features All Property Management Software Must Have


Property management software is primarily a tool used for managing real estate. The packages available usually include the following:

Architecture, Live, Facade, Building

Manages and tracks expenditures related to conducting a rental property. This includes expenses such as: Gasoline, lawn care, advertising, property taxes, repairs, and any maintenance costs associated with the property. With the online tools available, property managers have the ability to enter the necessary information into the system and instantly see the results.

Built-in accounting features make it possible to run reports for billing purposes from your computer Some programs include easy-to-read ledgers that allow you to create, print, and track payments quickly. For lease accounting, property management software will also provide access to sales agreement information, property taxes, property insurance, and much more. These reports are generally generated weekly or monthly and can be customized to meet your specific needs.

Features All Property Management Software

All property management software companies offer online tenants’ forums where members can interact with each other. Here property managers can obtain feedback directly from their tenants. By monitoring how your tenants are viewing your property and describing their comments, you will be able to identify problems before they arise. You can then take action to resolve them before they become major issues.

Renting and leasing processes are made much easier with cloud-based applications. Most property management software companies offer cloud-based rental applications that simplify the complex processes involved in leasing and collecting rental applications from tenants. Online tenant leasing applications eliminate the need for property managers to visit various websites to collect application information from tenants. Using cloud-based rental applications eliminates the need for property managers to maintain, develop, and maintain various rental applications.

Although tenant portal websites are fairly new technology, some of the benefits they provide have been around since the beginning of the Internet. Some of these benefits include increased tenant retention, simplified applications, and more time to do work. However, one of the most attractive aspects of tenant portal websites is that it allows tenants to easily rent and manage their properties from anywhere with an Internet connection. This enables property managers to manage properties from places like grocery stores and retail stores. These websites also make managing rental applications far simpler, allowing property managers to focus on other important tasks.

On top of being a portal to managing your properties, most property management software packages offer excellent reporting functions. You can track tenant payments and expenditures, manage vacancies, and check on repairs and maintenance. The ability to build, publish, and manage reports helps you make smart decisions about your investments and your rent collections. Built-in reporting software comes in the form of web-based software, which means that you only need to install a computer program on your desktop or laptop to be able to access your property management software.

Final Words

Some of the features you should look for when choosing a property management software package are easy accessibility and comprehensive reporting. The easy-to-use web-based applications are designed specifically for property managers and landlords who may occasionally need to perform maintenance request monitoring on their own. Comprehensive reporting functionality is designed specifically for landlords and property managers who need to see detailed information about their rent collections and their expenses.