Why You Probably Need Property Management Software

With apps for this and that, most everything is at least semi-automated and accessible to just about everyone. Property managers have found this out as they’ve migrated their data and listings from Excel spreadsheets and manual uploads to external sites into a single property management software system. At Nexus Real Estate, we’ve found that streamlining our data into a single management system frees us up to do the things that directly enhance our tenants’ experiences in our properties.

Aside from the physical aspect of maintaining the properties — making repairs and renovations — and dealing directly with the tenants — showing the units, keeping our renters happy — much of day-to-day property management is administrative. Property management software enables us at Nexus Real Estate to perform all of these tasks in one place instead of being scattered in various programs and databases.

Finances: Keeping the books in order is one of the most essential tasks in running any business. Managing multiple properties compounds the intricacies of your finances. Different properties generate different income and may require different upkeep. Keeping them bundled together in one program enables you to get a complete picture of your finances.

Rent Payments: Online payments are the wave of the future and the present. They enable payers to automate monetary transfers while going paperless to save money on stamps and checks, as well as being environmentally conscious. With property management software, renters can pay online, which is convenient for them and for Nexus Real Estate. Even when dealing with traditional tenants who cling to check writing, property management offers an easy means of recording all transactions to settle any potential disputes over payment.

Maintenance: Property management software systems offer means by which tenants can request maintenance 24/7 and for landlords to respond to requests. It is also a way of keeping a record of requests and response time. Landlords and property managers can keep track of and mobilize maintenance professionals to respond in a timely fashion.

Listings: Imagine writing a listing only once and feeding it to all your advertising networks. Property management software offers an easy way to populate listing information into defined fields that can be uploaded to your website, Craig’s List, and other listing services. You can easily keep your listings current and allow prospective tenants to apply via a button on the description. Process application payments and run credit/background checks with the information sent.

Several property management software systems have mobile interfaces, so property management is literally at your fingertips wherever you are. And even if you only have one or two properties, a software system may still be a smart investment if only to make sure that you’re keeping your records up to date.

Systems like Buildium, Appfolio, Propertyware, and Total Management are endorsed by several online review sites. If you’re thinking about implementing a property management software system, it may be wise to read product descriptions and assessments from a thorough, objective source, like Reviews.com.

At Nexus Real Estate, we’ve found that property management software has made us more efficient in handling tenant concerns in a timely, responsive manner.