Ways the Right Property Management Software Can Help
Managing an apartment could be a huge task especially when You have a lot of tenants living in the apartment, basic tasks like collecting rent and keeping track of your worker can consume the whole day and in the end, you don't have time to spend with you and your family. And let's not talk about the paperwork and the tenant records, those things need a separate room assigned to them. If you can relate to this problem, Don't worry you are not alone. There are many individuals and real estate companies who are facing the same problem. But let's be happy that we are currently living in the 21st century where there is a solution for every problem. Many companies have created a new application that helps you manage your property.
Before diving into the subject let us know what this application is and what it does. Yes, I know this application has a name and normally people prefer to call it as property management softwares.
The property management system helps to carry out trivial
tasks like interacting with tenants, handling lease requests,
keeping track of on-time and late payments, handling
maintenance requests, and maintaining and reviewing detailed
lists of properties. All such activities and responsibilities
are time-consuming, but it's a piece of cake for property
management software. Or, to conclude it in a one-line answer:
It helps you
automate the task. We live in a world full
of automation. Where we like to automate those boring trivial
tasks that take up most of your precious time because we are
either busy or too lazy. I mean seriously, Who wants to wake up
at 5 A.M to buy milk from the store when you can easily use
your mobile apps to deliver it at the scheduled time. If you
are either one of the two kinds then don't worry, Property
management system is here to save the day. So, now you know the
basics about the property management system, Let us understand
in detail what benefits the Property Management System will
give you if you use it.
There are lots of benefits that the Property Management System provides but here I am going to explain the 4 benefits that I have observed:
- Automating Tenant Acquisition: One of the major issues that most landlords face is when a new tenant applies to the building. All the paperwork and the screening process to check if the lonely man with the dog doesn't turn out to be john wick could take a lot of time. With a Property Management system, you can easily automate these tasks. Prospective tenants can apply through an online form where they submit their details and the AI of the property management system will analyze the tenants' documents and screen them accordingly. Now, if you get a property management system, you might miss out on all those live gunfights of john wick.
- Improves File Management: As I mentioned before records and files take up a lot of space and they also incur a separate cost to maintain them. With a property management system, you can digitize the files into an online database where you can arrange them according to your preference and access them with a few clicks instead of scavenging the whole room.
- Seamless Transaction of rents: Collecting rents and keeping records of the defaulting tenants is a tiring task. Don't worry, the Property Management System got your back, Now tenants can pay you through modern transactions like debit cards, credit cards, etc, and also inform you who haven't paid the current month's rent. After getting a property management system you don't have to climb all 10 floors with a book and card machine in your hand.
- Tracking Maintenance Tickets: Dealing with tenants can be a huge deal and time-consuming. Property Management System helps you create maintenance tickets that help tenants to lodge an issue that requires attention so that the landlord can address it by contacting vendors and the ticket remains active until the issue is resolved.
- Helps to improve your financial reports: Creating a financial report could be a herculean task especially when you have lots of physical bills lying around. With a property management system, you can digitize those bills in the system and it makes the process of data entry faster.
- Calendar Facilities: Have you ever found yourself busy with a task and then suddenly realize that you also had to complete another task whose deadline is in 5 minutes. Well, don't worry, With a property Management system you can easily schedule your task without any problem.