How to do

Important Features to Look for in Property Management Software

There are many types of property management software on the market and they all do a pretty good job of managing assets and keeping track of day to day tasks. But some options will be best suited to you depending on the type of property you are maintaining and the nature of your business. However, there are certain essential features that you should look for when choosing such software and these will be explained in more detail in the article below.

There is a lot of maintenance and repairs to be done at a property so it is important to select property software that helps you track these tasks effectively. Some of the tasks that come under maintaining the property are landscaping, inspections, pest control, repairs, security, community area maintenance etc. The property management software will provide you with reminders for these tasks so you don’t even miss one. Look for software that can be integrated into your smartphone as well so that the notifications and email reminders can be viewed on this.

The software will provide a work order with levels of priority for these tasks so you know which task to attend to first. Also, there will be tasks that will require more work in advance such as looking for contractors, obtaining quotations and getting them approved. So the reminders set will take into account the time take for all the work.

You can have a tenant portal integrated into the software so that they can send in requests, complaints etc. This eliminates the need to have a paper trail. This process will record an electronic receipt of the communication so that you will be able to access this information at any time. You will be able to know which repairs have been done to which unit and within what time frame.

The portal can be accessed by the owners as well so they know the requests that have come in and the steps taken to respond to them. There are many marketing features that will help you build and strengthen an online presence. Property management software allows you to record your interactions and the relationship you have with the tenant. And this will allow you to provide a better tenant experience.

Look for software that comes with accounting and financial features. The software should be able to provide detailed reports such as owner statements, vacancy reports, occupancy reports, reports on expenses and income. Data entry becomes so much easier with an automated system and you will not need to look for information as you can easily search for it and access it.

Other features to look for are transaction audit histories and compliance management. You will be able to provide reports to the property owner as well as any other information they need. Having an owner portal will make things easy and increase the transparency of property management as well. Being able to scan receipts makes it easier for the owners to have the latest information at their fingertips.

Anne Allison
the authorAnne Allison

Leave a Reply