As your portfolio of properties grows, so does the amount of data you need to track. If you're outgrowing your old systems, you need landlord software designed for property managers who need to document properties, manage maintenance, and generate reports on everything from finances to repair work.
Here are 4 ways property management software can benefit your business:
1. Simplifying Property Maintenance and Repairs
Staying on top of maintenance and repairs is one of the most important actions you can take as a property manager. Regular property maintenance keeps homes in pristine condition and helps ensure that small problems don't become more serious. A wobbly staircase railing that you find during a routine inspection is easy to fix, but you need to do it before someone gets hurt. Landlord software helps you schedule maintenance and inspections, track ongoing concerns for follow-up, and understand the cost of your maintenance program.
2. Communicating More Effectively
Communication is key to becoming an exceptional property management company. For ongoing owner and tenant communication, you need to be able to store all of the information about a particular property and share it easily. Rental property software helps you create owner and tenant portals that support regular communication and store key information about each property.
Effective communication also requires the right organizational systems. If you rely on a spreadsheet to track information about current and prospective tenants, there's room for error and confusion. According to Hubspot, "inaccurate or incomplete Excel interaction tracking means that hot prospects sometimes fall through the cracks." Use landlord management software to sign up interested tenants and manage tenant and owner interactions.
3. Connecting and Integrating Data
When you use Excel for business, your information is spread out and you need to view multiple spreadsheets to make connections between data sets. Rental property software built for landlords eliminates these integration problems. For example, if you're wondering how much it costs you to repair and maintain properties in a certain area of town, you can run financial reports that link your property management accounting with specific properties.
Streamline the process of creating reports with landlord management software.
4. Generating Comprehensive Reports
To continually improve, you need to see how you've grown and where the holes are in your business planning and finances. Integrating multiple spreadsheets is difficult, and according to LinkedIn, "it may be a lengthy process to consolidate the data; especially when the consolidated data set has more than 1 million records." Excel isn't designed for this type of analysis, but rental property management software is; use it to develop reports that link different subsets of information. Report options make it possible for you to easily take a close look at specific properties, owners, tenants, or areas of town and to make comparisons. That information helps you make informed decisions and develop your business.
"We're able to save time - a lot of time - not having to look for filed documents. Everything's right there, when you need it." - Chris Garner, Garner Properties and Management
As you develop your property management business, look to Propertyware. Our comprehensive property management software will help you scale up data management as you build the business. Contact us today and get pricing on the products that will change the way your business operates.