When you first begin to use property management software to coordinate your tenant interactions, it can feel like you've gained an organizing superpower. Software makes your tenant transactions much easier, reducing your stress about tenant interactions. When you're looking for rental property management software, choose a package with the functionality to do the following:
1. Coordinate Communication
The NOLO blog states that it's important to organize written agreements with tenants, including points such as "when and how you handle tenant complaints and repair problems, notice you must give to enter a tenant's home and the like." When you're working with property management software, set up processes to facilitate communication with your tenants. One of the best things that you can do to make communication easier is to store documents and property information online in a tenant portal where tenants can access that data whenever they choose.
Facilitate ongoing communication with your tenant management software.
2. Organize Payments Online
Organizing your tenants' payments can be one of the most frustrating parts of property management. It's not frustrating when tenants pay: what's difficult is when they don't pay, pay late, or pay the wrong amount. Track fees, changes in rent, and payments easily using an online tenant portal. This portal allows tenants to login to their account, check their balance, and pay without ever sending you a check. Nothing gets lost in the mail, and you and the tenants are both clear about what's due on the account.
3. Document Property Changes
Tenant management software helps you document what's happening at each property, both for your benefit and the benefit of the owner. This includes documentation of payments and expenses associated with the account as well as documentation of the property itself. With cloud-based property management software, you can document while you're on site. As you tour a property to do an inspection you can document repairs required and ongoing maintenance concerns with video and photos so that you can address these issues promptly and accurately.
Obviously, there are times when a visit to the property is essential. This not only gives you a chance to check things out for yourself, it also provides a personalized approach to solving the problem which is greatly appreciated by tenants.
4. Report on Your Business
After you've finished organizing payments and inspecting properties, you want to gather and assess all of the data. The reporting features available through rental property management software can help. Use data analytics features to look at property data in real time, compare your accounting and marketing analytics to see how your marketing attracts tenants, and understand the accounting of a single property or group of properties. Choose tenant management software that allows you to work with the data you've gathered so that you can inform your future actions as a company and interactions with tenants.
As a property manager, you know that staying organized is your biggest challenge and your greatest opportunity. Keeping an organized business allows you to communicate more effectively with tenants, owners, and vendors, giving your business a strong reputation in your community. With Propertyware's tenant management software, you can ensure that you coordinate more effectively with your tenants. Watch a demo today and see how our software can transform your tenant relationships.