As your customer base increases, chances are you acquire more properties to manage. This can create chaotic back-office management, which can result in inefficient operation. Fortunately, you can have better operations to satisfy your clients with property management software.
Good property management software can save time and costs and improve interaction with the stakeholders. But getting one that fits all your needs can be a challenge. To begin with, you can do background research on the software market. Afterward, identify the tasks you need to streamline for better service delivery.
Once you’ve identified the tasks, you can easily choose a better real estate portal software that can serve you and your clients. To help you decide, this article enumerates what features you should look for in property management software.
1. Should Provide a Tenant Portal
As tenants form the core of your business, you need to think about their convenience. Therefore, the software should give the tenant portal rent payments and maintenance request options. Additionally, a tenant should easily update their personal details and view agreements.
You can reduce tenant dissatisfaction and build yourself a good company image with the mentioned suggestions.
2. Enable Easy Property Inspection
Most of the time, you need to inspect properties under your management. It can take time and energy to navigate from one property to the next. You can avoid this issue with good software that automatically shows you the closest property and the best available route.
Using such software means you can arrive at your properties faster, allowing you to inspect more properties. Through the assessment of your properties, you can identify gaps and improve your service delivery.
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3. Enable Contractor Service Management
Contractors are your key support players in delivering good services. Therefore, the software should allow you to have all their data and different tasks. It’s better if the software can create tickets for the contractor’s routine services and check-ups and can track their work. Once the contractor completes the tasks, the software should enable you to inspect and generate their invoices.
4. Rental Agreements
Good software should give you a dashboard of your tenant’s data. Such data can include lease agreements, payment details, contact information, and any terms and conditions. As a result, these data can help you keep track of late payments, lease due dates, and changes in contact details.
5. Allow Online Payments
Handling payments is tedious and can get messy. You need to manage tenant payment details, on the other hand, you also need to pay your contractors and owners. The software should have an online payment option for the tenants and yourself for better management.
It should give tenants alternative ways to pay the rent according to their preference. This can be by either card, bank transfer, or mobile banking. Once paid, it should automatically verify and update the payment on the respective tenant dashboard.
This can help you save time and energy. Additionally, it can eliminate the issue of late payments due to the convenience it brings.
The portal should allow you to make outgoing payments and provide an automatic debit entry in your system for contractors and owners. This reduces the risk of errors from manual entries.
6. Should Be Mobile Friendly
Moving from one property to another means spending most of your time on the road. For this reason, you need software you can install on your mobile phone so you can manage tasks or view reports while out of the office.
Additionally, this feature gives your tenants easy access to your portal. Most of them may not have desktops or laptops to log into the software portal. Thus, accessing the services on their mobile phones can help create better communication and relationship with your tenants.
7. Good Data Security Protocols
As a property manager, you handle a lot of sensitive information. Therefore, the software should provide data encryption infrastructure.
It should give options like two-factor verification, firewall features, and notification on unknown logs to secure you and your tenant’s and information. A good data security system helps reduce the risk of cybersecurity breaches.
Furthermore, the software should give different user levels. It ensures that you can control what others can access in the portal. Additionally, it should also be able to remove user access in case a team member leaves your company.
8. Data Migration Option
Sometimes, you may need to generate a report using a different program. Therefore, the software should allow you to extract and export data easily. This should help you produce easy-to-understand and interpret reports.
9. Enhance Communication
Communication is key to building a good client relationship. Consequently, good software should give tenants a platform where they can easily contact you or air their concerns. As a result, you can attend to their needs quicker, improving your service delivery.
Conclusion
In summary, getting the right software can get easier once you align the necessary features with your company’s needs. The key functionalities in the software platform should help you cut costs, improve service delivery and generate property reports. It should also enhance communication and have good data security protocols.
