How Property Management Software Programs Streamline The Rental Process

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In today's high-tech world there is a software program for almost everything; managing rental properties is no exception. Whether you are a property manager, an owner, or a renter, here's a look at how property management software programs can benefit you.

The Basics of Property Management Software

Property management programs today have moved beyond stand-alone software installed on a user's computer to cloud-based platforms with monthly subscriptions. This allows for greater data storage without the user having to upgrade their system, and it provides better data security as well.

All aspects of the property rental process are managed by the program. Information about vacancies, rental payments, and lease agreements is stored in a database that can be searched by a variety of criteria. A manager can, for example, instantly view all vacancies within a property or all leases coming up for renewal on any given month.

Features for Renters

If you are renting a new place, whether residential or commercial, finding one that is managed via one of these property software programs will make your life infinitely easier. Many will allow you to complete your application online during a property showing, and some will also perform a screening and background check on the spot, which speeds up the approval process.

Virtually all programs have a tenant portal through which you can pay rent online 24/7. You will have online access to your rental agreement and get reminders when it is due to be renewed.

One of the best features of property management software is the ability to send a maintenance request online. Your request will be time stamped, and some programs even allow you to submit photos with your request, so you can show exactly what needs fixing.

Benefits for Property Managers and Owners

Both property managers and owners will find that management software programs streamline the rental process considerably and free up resources for important jobs. Even small developments will look very professional with this kind of automation, which is appealing to both business and residential tenants.

Some of the features for the management side include:

• lease tracking
• accounting and integration with bank accounts
• rent due and late fee reminders
• automated rent collection
• ability to turn maintenance requests into task lists for staff and send them via mobile phone apps
• facilitated communication between property owners and managers, including requests for upgrades or renovations
• vacancy posting to dozens of websites simultaneously
• integration with property marketing

For large property developments, property management software is a must to stay on top of necessary care and to manage the rental process. For small properties, these programs can help one or two people perform the work of many more. If you are a renter, being able to conduct business online means more time for the things you really want to enjoy. In this way, property management software is a bonus for all sides of the rental equation. For more information, contact a company like ABA Rental Properties Inc.

2 December 2014