Which Property Management Software is the Best?
Sophisticated management software can improve efficiency when running a property management company.
Day-to-day tasks of property management can include creating a lease agreement, communicating with tenants, managing maintenance requests, collecting rental payments and generating payment ledgers. These menial tasks may require a lot of manual effort.
With property management software, these routine tasks are automated to improve the efficiency of property management.
What Can Be Automated?
Property management tools have been created to efficiently manage rental properties. Management software has the potential to keep track of all things management, speed up day-to-day tasks and make time for more unique and intricate tasks.
Managing a lease agreement
The process of managing a lease portfolio can be done using property management software.
Sick of chasing up parties to sign the agreement? Sophisticated software generates notifications to remind tenants to sign the agreement, taking the headache away from property managers.
If amendments need to be made, the software makes this an easier process and can keep track of all versions of the agreement, making sure managers have a log.
When approaching the expiration of the lease, the property manager will be given the option to renew the lease.
Communication platform for property manager and tenants
It can be hard to keep track of the history of communication with specific tenants, especially when you are managing more than one rental property. Having a central communication platform can help managers stay organised, and act as a filing system.
Collect rent on time and automatically create receipts and a ledger for tenants
Managing rental payments is one of the most important tasks of the property manager. Management software simplifies this task by collecting rent on time using a notification system to alert the tenant when payment is due. Sophisticated software automatically takes the money out of the account of the tenant, and transfers it over to the property manager (or straight to the landlord!).
Management software can also generate receipts and create a ledger. Say goodbye to all that manual effort that has gone into creating spreadsheets!
Track income and expenses, and generate end-of-year reports
Management software allows the history of the property’s tenancy to be stored in one place. Property managers will be able to track rental income and expenses, and generate yearly reports.
Where can I find property management software?
There are many companies out there that offer property management software.
RentBetter offers a unique solution that is designed to find tenants and manage rental properties all in one place. The solution is perfectly fit for those managing one or many properties and offers a unique solution for each residential and commercial properties.