March 12, 2019
The Most Important Features of a Property Management System
More and more, landlords, property management firms and condo/HOAs are turning to online property management systems to help automate their processes and save them time and money. Good software solutions can play a pivotal role in streamlining operations and boosting revenue. The key is to choose the right one; not all property management systems are created equal.
To help you find a quality system that meets your needs, we’ve compiled a list of the top property management features and functions that your software solution should include.
Automated Leasing Cycle
Minimizing vacancies and maximizing your number of high-quality tenants is crucial to running a successful rental property. But that’s no easy task. From recruitment to retention, the work can seem endless and complex. That’s where property management solutions can help. By automating the leasing cycle, you can quickly and effectively handle tenant screening, as well as background and credit checks, without being burdened by manual processes. In addition, once tenants are approved, the lease can be signed electronically and stored digitally.
With the right system in place, you can ensure that your critical data will be safe and secure. Cloud-based solutions offer frequent backups, and first-rate firewalls and encryption, protecting you from damage, loss or cybercrime.
With real-time, automated reporting at your fingertips, you’ll be able to glean the insights and analyses you need to make informed business decisions across your entire portfolio. Access accurate, up-to-date information anytime, anywhere, all from one powerful tool.
We all have tools that we know and love. As a property management professional, it’s important that your software be able to work well with the systems you’re already using. Insist on a solution that provides secure, compliant APIs that integrate data with your third-party software and products.
Optimal Vendor Management
A good property management solution can help you improve vendor relations by replacing time-consuming, paper-heavy processes with an optimized, digitized workflow. With the right software in place, tenants can quickly and easily request repairs online, and you can track work orders and generate purchase orders. Cloud-based solutions can also enable mobile inspections, further reducing paperwork, and securely storing inspection results online for future reference.
In property management, collecting rent is necessary, but that doesn’t mean the process should be evil. In fact, it should be as pain-free as possible for everyone involved. You need a system that enables you to track rent, pay owners and vendors, and reconcile accounts in real time. It must also generate budgets and reports that will help you oversee your entire operation.
The right property management solution should save you time across all areas of your business, including advertising. Look for a system with the right tools to build property websites, maintain up-to-date listings and amplify your online presence. Make sure that it can automate ILS listings and that it includes access to SEO and SEM services.
Property management software isn’t much help if your team can’t easily adopt it. Choose a solution that offers simple, effective support, such as interactive walkthroughs, and live help when required.
How Property Vista Helps
Property Vista is a powerful property management system. It allows you and your teams to share information and automate tasks in easy everyday workflows. It’s not just about software that can do what you do – it’s about software that understands the how and why you do it. Web-based and simple to use, Property Vista’s robust suite of tools reduce vacancies, cut risk and increase cash flow, giving you everything you need to build opportunities and accelerate growth.
We offer a range of packages so that our software will scale up with you, making Property Vista an investment for both now and the future of your company. Smaller portfolios will run more efficiently, while larger holdings can capitalize on our full offering to centralize and automate their complex structure. Check out pricing and ask to see a demo.