Property management consists of a lot of juggling tasks. Keeping track of rent payments, and following maintenance requests, are the common real estate operations. Performing such operations manually is both- time-consuming and overwhelming. These two operations are just a small share of what a property manager face on his/her daily basis. Best property management apps have taken a great move. These applications provide property managers to automatically accept payments and develop accurate business reports. Digital solutions, in fact, help property dealers keep track of the information accurately for a long span of time.
In today’s digital world, having digital software for property management is the best option of automating multiple day-to-day business operations that required hours of manual work. The benefit of using digital applications is more than just saving time. You might wonder how a real estate property management application can benefit you; here is the answer!
You can find a huge amount of ready-to-use digital property management solutions. The main disadvantage of using them is that they are developed with a wide range of functionalities addressing the needs of the greatest number of property dealers. Many out of these functionalities may be useless for you. There isn’t any point in paying for the features that are useless for your business. Moreover, it is important to build custom software that can suit your specific requirements.
Problems Managers Usually Face
Before building property management software it is important to identify the tough nuts to crack. What are the things you as a property manager are struggling with?
Lack of Communication: Handling multiple properties means treating multiple residents at a time. People come and go! You really need to be prepared to manage the constant leasing process. Not only this, any sort of property operations requires an excellent communication flow. On top of that, phone calls and emails are not the only ones and the last options for having a good communication flow.
Maintenance Applications: Accidents can happen at any time and anyplace. People cannot come to you right away to inform you what has happened with the property. Moreover, fixed working hours are the key factor delaying the maintenance requests to come to you; and what’s more, is to contact and hire the right person to repair the defect as early as possible. Without having instant access to the requests, it will be easy for you to forget the applications awaiting a valid response from you.
Delayed Payments: Manually operating financial records have the highest chances of errors. Sending reminders for the upcoming rent payment and getting hundred percent payment records is not easy if done manually. A huge risk of not sending payment reminders to some tenants and missing out the payment records is quite usual. And on top of all, losing financial control can open up the best chances of losing your business.
Reasons for Using Property Management Software
PMS (property management software) solves mostly all property related issues that you may struggle dealing with on every single day.
Real-time Information: Following the manual method, you will keep all your key information stored in your pc or laptop in the form of a document file, or you may store great piles of folders full with hard copies of your documents. Will you be able to manage necessary tasks the right time when required? PMS – a web-based platform, on the contrary, enables you to work at any time and from anywhere. This is the system where your data will be stored online automatically. This allows easy access to all necessary features at any place from any device, even from a mobile phone.
Effortless Communication: Property management is not done by only you managing everything. It also has tenants performing many other operations like paying rent, submitting maintenance requests, etc. In short, it requires time from the tenant’s side and availability from your end. Having the best real estate property management application on your phone you can enable an easy way for your tenants to perform all required operations online by logging into their own profile. An online portal will allow your tenants to file a maintenance report and receive updates on their convenience.
Quick Inspection: Property inspection is the most time-consuming task every property manager face on a frequent basis. Visiting multiple properties, writing down the key information about each of them properly, and storing them back into your pc or laptop at the office manually is tiresome and also time-consuming. A PMS can help you conduct quick inspections and gather report while out at any place. These online inspection reports can save you a lot of time which you can utilize for other important tasks.
Easy Payments: Keeping track of payments is quite difficult and troublesome with a specific number of days of processing. The procedure also has possible chances to miss out one or the other payment record when piling up manually to the document sheets. A PMS, on the other note, allow tenants to pay their rents right from the device they have while making the payment; may it be a mobile phone or tablet. On your side, you can with ease keep track of the payments online.
Secured Data: Document security is very important in any business. And being a property manager, it is your prime responsibility to keep all sensitive details like customer’s credit check reports and lease agreements safe and secured. Your property management app can help you with this. Having it all sensitive and personal data are stored online. The data encryption offered by the software development company will keep your date more secured.
As noted above, you can understand how property management software can help you manage your day-to-day tasks and keep an eye on all sort of detailed information. What appears here are just a few points, there are in fact many other operations you need to monitor from inspection to facilitating maintenance requests. Over and above, automation helps you gain more time to spend on other essentialities that can help you grow your business.