Property management software, especially cloud-based software, can revolutionize your business’s success. Not only can management software connect you with your rental properties (even if you’re long-distance), but the built-in management tools significantly boost your efficiency and increase tenant happiness. While the specific features and price point can vary based on which property management software service you choose, these four benefits still hold true.
- Everything is Just a Click Away
Say goodbye to lugging handwritten ledgers and stacks of vanilla file folders for good. One of the biggest and best things about using property management software is how easy it is to access information on the go. Through a cloud-based (online) software, the information you need is 100% online. This enables you to manage all your rental properties – all from the comfort of your at-home office.
Quick Tip: Some property management software services offer tenant portals as well. This will allow all your tenants to view their rent balance, make online rental payments, and even submit maintenance requests.
- You and your Tenant’s Information Stays Secure
As a landlord, you know how important it is to use and store your tenant’s and your property’s information securely. Physical renter files are vulnerable to physical disasters, theft or mishandling, and accidental coffee spills. With property management software, your valuable data is electronically stored in the cloud with bank-leveled security and encryption. Additionally, due to its online nature, security levels can be frequently tested and updated digitally.
- Focus on the Important Things: Growth, Retention, and Maintenance
Property management software comes with a plethora of automated features. While some of the top features you want to look out for include marketing and online rental payments, the majority of management software services are designed to let you focus on what’s important. With summary pages, automated reports, and real-time analytics and notifications, property management software lets you track your growth, make plans to retain good tenants, and handle property maintenance faster than ever. Spend less time manually balancing your property’s budget and processing rental payments, and more time on the things that matter to you most.
- More Options Equals Happier Renters
Property management software not only streamlines your internal processes, but it increases tenant happiness levels. While this might not be the main reason why you’re considering management software, it’s still a huge bonus. With the option to pay rent, get renter statements, and make maintenance requests completely online, you eliminate time-consuming questions from your tenants and make paying rent easier and more convenient. Plus, you know what they say, ‘happier renters lead to long-term tenants.’
As you start to consider signing up for property management software, keep in mind there are a couple of additional benefits that some management software companies (not all!) offer. Things like free trial periods, discounted or free set-up, and broad customer service hours are little bonuses that can help you as you transition.
Learn more about the Basics of Property Management Software Here