Developments in technology and cloud-based computing have paved the way for property managers and rental owners who seek better processes to streamline their business and boost profits. By incorporating the latest software applications into their daily operations, property management has evolved to become more efficient.
Management software has become an affordable way for all types of managers and owners to access powerful tools for effectively managing rental properties. Property management software has changed the rental market by making it easier to:
Get More For Less– Cloud-based software is easily available to anyone with an internet connection. The best part is, software hosted the cloud is significantly more affordable than similar desktop applications of the past. Affordability means more owners and managers are able to fit software into their operating budgets, allowing everyone to be competitive with larger firms.
Reduce User Error – The right property management software will provide powerful reporting and accounting functions that replace the need for pen and paper, and double entry between systems. Property performance can also easily be viewed to see which tenants have paid rent, who’s late, or the status of work orders. By automating tasks, with the redundancy of computer processes, important information is easily remembered, less mistakes are made, and you will have more time to focus on other projects.
Stop Wasting Time – With a traditional paper office you can spend way too much time searching for important information buried under a stack of papers or hidden away in a file cabinet. The search capabilities of a computer are much more efficient and provide ways to find data instantly.
Protect Your Properties – Access to background reports has gotten easier for property managers who are able to instantly order tenant screening reports online. Instant access to tenant screening reports lets landlords and managers review an applicant’s credit, criminal, eviction history and more in order to make an informed decision about the applicant’s financial responsibility and rule abiding behavior. Assessing an applicant’s screening reports allows landlords to select the most qualified tenant who will maintain the rental property, respect lease terms and pay rent on time.
Simplify Your Programs – Online software applications have integrated multiple management solutions so property managers only have to use one program to perform all their important management tasks. Market properties, process applications, screen tenants, sign leases agreements online, review property performance, review and monitor work orders, submit tax forms, print checks, … All these features and more can be available through just one software program that you can easily access from your desktop, laptop or mobile device.
Collect More Rent On Time – Online rent payment solutions give tenants the opportunity to make rent payments from the comfort of their home, at work or anywhere they can connect to the internet. Managers and owners no longer have to wait for rent checks to get delivered in person or via mail. Rental software lets tenants use ACH or their credit/debit card to pay rent online, making the whole process easier for both tenants and managers.
Form Better Relationships – Previous tenant communication required phone calls, colorful flyers, or in-person visits. These days, talking to your tenants can be done with a text message, email or even via social media. Using your tenants preferred communication style lets you reach them more effectively and helps form a positive landlord-tenant relationship.
Not only have systems developed to make managing rental properties online even easier , but renter’s today appreciates the convenience of online services provided by their property manager or landlord. Technology within the industry has evolved to be cost-effective, convenient and efficient for landlords to organize their data, improve business processes and provide extra services to their tenants.