August 28, 2018
Key Features of a Property Management App in 2018
More and more property management companies are moving to a cloud-based property management app. These online solutions offer a variety of benefits over traditional desktop-based software. This kind of software makes tasks easier and data more accessible and reliable.
7 Must-Have Key Features
Let’s take a closer look at some of the key features to look for in a property management app.
Collecting rent is the very foundation of any property management company. How well this task is performed has an impact on both organizational growth and tenant happiness. Rent collection should be as easy and pain-free as possible for both you and your tenants. Good property management software enables you to track rent, pay owners and vendors and reconcile bank accounts in real-time. It also allows you to generate reports, create property budgets and keep a finger on the pulse of your business.
Busy property firms need a simple and effective way to advertise their properties. A good property management app will give you all the tools you need to build property websites, keep your listings up-to-date, maximize brand reach and continually optimize your online presence. Look for a solution that has the capability to automate ILS listings, has easy-to-use, appealing website templates so you can easily create a website for each property, and access to SEO and SEM services to ensure you are amplifying your online presence.
3.) Vendor Management
Vendor management is notoriously paper-heavy and time-consuming. So, one of the critical elements of property management software is how it handles maintaining safe, code-compliant properties. Look for a solution that cuts through the piles of paperwork and digitalizes the workflow so that it is automated and easy to manage. For example, a good property management app will allow tenants to conveniently request a repair, and then give you the ability to track work orders as well as generate a purchase order directly from a work order. An ideal solution enables mobile inspections to further reduce paperwork, and digitally store inspection data safely and securely online.
A property management firm is only as good as its tenants. Filling vacancies with quality renters is crucial. However, it can be a complex, seemingly never-ending stream of tasks. Property management solutions help you automate the leasing cycle. This means a streamlined approach of online applications that seamlessly go through tenant screening and credit checks without manual intervention. Once the applicant has passed the screening process the lease can be signed electronically, and stored digitally.
While marketing, renting and maintaining properties are the everyday tasks that keep the wheels of business turning, it is how a property management firm communicates to its key stakeholders that is the heart and soul of customer service. An efficient property management solution modernizes and simplifies communication to tenants, owners and vendors through communication portals. These portals allow information, like financial reports for owners or elevator maintenance notices for tenants, to be shared, anytime or anywhere.
6.) Integration with Other Programs
You want your property management software to integrate with all your favourite tools. A good property management solution will play well with the important systems in your business and support the flow of data back and forth between systems. Look for a solution that offers secure, compliant APIs that integrate data with your third-party software and products.
7.) World-Class Support
When opting for a new property management app, you want to ensure that your teams adopt the system quickly and easily. Support can be the make-or-break of a product. Look for a solution that has interactive walkthroughs, a knowledge base and live support for when you need it. When evaluating solutions be sure to look at support ratings and customer testimonials.
How Property Vista Helps
Property Vista is a cloud-based property management solution that helps real estate and property management firms to track property tasks and functions. From advertising rental properties to collecting rental payments and more, Property Vista handles it all. We offer users a vendor management module, accounting capabilities, a lease management system, portals for tenants and owners that help parties to communicate and much, much more. Check out our packages and pricing.