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4 Top Functions to Look for When Choosing Property Management Software

If you’re new to property management, you probably realize by now that this profession involves recording and keeping track of a lot of details. To be able to do this, you need to have high quality software that can make your property management business run as smoothly and effectively as possible. Here are four must-have property management functions you’ll need to have in your software, along with the importance of getting a license for property management.

1. Interacts and Communicates Well with Tenants

One of the main qualities to consider when buying property management software is an exceptional tenant interface. To succeed as a property manager, your tenants should be able to easily contact you. That’s why you need software with a user-friendly tenant interface so that you can clearly communicate with people. 

The software should include a simple way for tenants to pay rent as well as request repairs. Besides benefiting your tenants, a good tenant interface helps you. Just think about how you can save money and time by not having to hire a third party to collect rent or do other jobs.

2. Keeps Track of Maintenance for Multiple Properties

Trying to manage several investment properties can be an overwhelming task since it can mean doing regular upkeep on different types of properties. This includes remembering what was done on each unit. 

Because of the complexity of managing several investment properties at once, property managers need software that can remind them to do routine maintenance jobs, such as mowing lawns, pest control, cleaning gutters, caulking and other tasks. What’s more, as a property manager, you can expect your tenants to call you, at any hour of the day or night, to make repairs and take care of problems. Therefore, you need software that can easily schedule and track tenant requests. 

3. Manages Documents Efficiently

Property management software should include effective document management This means the ability for creating, storing and searching for files and documents, such as vendor lists, eviction notices, leases and other items. For example, when selecting a product, look for software that has templates for filing leases that include details about units. 

4. Finds New Tenants

One of your primary jobs as a property manager is finding new tenants. Thus, you’ll need property management software that allows for online advertising for tenants. Choose products that let you publish listings on popular real estate websites. You’ll also need software that lets you screen and manage potential tenants. 

Other Considerations and Warnings

  • Although you may be attracted to software that provides automation for every function, it’s better to choose products that fit your specific needs.
  • To see if a product is right for your business, ask for a free demo or trial version before buying it.
  • Ensure a program is powerful enough to handle all the properties that you manage.
  • Be sure any software you’re thinking of buying is user friendly and consider the overall computer skills of your coworkers and employees.
  • Ask about software updates, such as how often to expect them. When there are updates and changes, do you have to pay more to stay updated?
  • Read online reviews from customers who’ve bought property management software, focusing on comments regarding reliability, tech support and additional charges.
  • Look for a product that provides free, unlimited product support that’s included in the purchase price.
  • Consider the convenience of software that allows you to pay workers online.   

The Bottom Line

  • Selecting the right property management software is important and should be taken seriously.
  • Your software should be user friendly, while still being strong enough for handling all your accounting and legal data.
  • Furthermore, the software needs to be updated regularly, offer product support and be suited for your business.

Are you thinking about becoming a property manager? Maybe you’re just starting out in this business but don’t have a foothold in the market. Getting a business off the ground can be difficult and expensive without when doing everything on your own. Download our free Cost Comparison Sheet, which is a guide to the hidden costs of opening your own property management company DIY style vs. using a license through Property Management Pros.


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Disclaimer: Property Management Pros is not intended to be marketed as a Property Management Franchise, but rather a License. Every state has different laws regarding real estate and brokerage laws dealing with Franchises and Licenses.