Professional property managers rely on property management software to screen tenants, collect rents, generate financial reports for owners, manage the property, schedule repairs and more.
Software options range from recognized standards, Yardi & Appfolio to many less well known. Larger property owners and managers have used software for years while smaller property owners tend to use self made systems like spreadsheets and quickbooks.
Timmi Ryerson with Smart Property Systems talked with me about property management software systems, users and how a good software system can simplify things for the property manager.
Why use property management software system?
The main reason for using property management software system is for organization. Organization makes your life easier and gives all who interact with you that your organization is professional.
Managers, Owners, Tenants & Vendors can easily login and use a complete property management system to communicate, complete tasks and get reports.
What are your pain points?
Rent Collection – The most crazy time for all property owners is the first of the month during rent collection week. Software combined with a merchant account makes automated rent collection effortless. The automated rent collection generates all of the accounting reports instantly.
Tenant Communication – Tenant portal provides access for tenants to log in to schedule rent payments from a cell phone, tablet or laptop 24/7. The portal also provides direct communication between the tenant and the property manager regarding repair request and more. Tenants love having the access for online payments.
Filling vacant units – When a tenant provides a 30 day notice that they will be moving out, the software can automatically cue the necessary steps needed on the most efficient time line to minimize the unit vacancy.
Advertising your vacant unit; The software system can automatically push an ad/ webflyers to all of the weblinks to advertise your property availability using the date indicated by your vacating tenant.
The same notice can automatically schedule property management check out and re-rent procedures to minimize the downtime required to turn a unit.
The quick action assures your ability to generate multiple applications prior to the property being vacant. More quality applicants to choose from and a properly screened tenant reduces future headaches for the property manager.
The property management software screening should look at credit, criminal record including any sexual predator convictions.
The system will also calculate the prospective tenant’s ability to afford the unit based on income.
Maintaining your property keeps the property in the best condition. This translates to a desirable place to live fro current and potential future tenants. Software systems can set calendars for when various maintenance issues need to be made.
Software provides for seamless integration of repair scheduling with the tenant when they are available and the vendor providing the service. Software allows for automated instant follow up with the tenant to determine how the vendor’s employee interacted with the tenant. Tenants feel cared for when you are asking them how the repair went right away.
Smart Property Systems
Smart Property Systems can scale from one unit to thousands. For CREPN Listeners interested in pursuing Smart Property Systems property management software, listen through the interview to learn how to get a 30% off discount.
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