There are different processes involved in property management and well-organized systems in place can ensure timely completion of these processes. Web based property management software products are flexible, integrated, and extremely useful in consolidating different management processes under single roof. Good property management software is secure, reliable and cost effective so that the day-to-day activities are completed in a seamless manner. Some of the important features of these property management software products are discussed below.
Data representation
Property management and maintenance software products have the capability to collect and interpret different types of relevant data into useful reports which can be used for business analyses. Property trends analysis and revenue collection reports can be generated easily by adjusting the variables. These reports can then be shared with clients and employees.
Correspondence
You dont want to lose the important information that you exchange with your clients and would like to store all these correspondences at a single place. Property management software products give you this benefit as they can store all your correspondences under single tab. They have a number of letter templates that you may require for complying with different authorities or for communicating with clients, tenants or owners. Some software products provide a real-time customized social app that can be used for communicating with clients and others parties.
Document management
A company can save a huge amount of money and minimize the risk of losing important documents by going paperless. These software products can organize documents effectively under different heads which can be available online as well as offline. Different security protocols are used to make sure that the data is safe and unauthorized access is appropriately dealt with.
Notifications
Property management software products can provide notification about important events such as lease expiration, rent dates, legal compliances, or client meetings. They can also email the details of any event to all interested parties.
Accounting services
These software products can handle all accounting activities such as accounts payable, accounts receivables, payroll, and trial balance. They can also generate different financial reports like profit and loss report, balance sheet, wages report, fixed assets & liability report etc.
Property Maintenance
Maintenance history of different sites can be stored in the software and alerts regarding the maintenance work can be tracked through the property management and maintenance software. If the tenants want to communicate with the company regarding the maintenance then the request can recorded and processed by the software. The status of the work at different sites can also be monitored through the software.