What Features A Good Property Management Application Must Have?

1. What Features A Good Property Management Application Must Have? There are various kinds of property management software available in the market but how do you buy the best one? Here are some of the most crucial features that you must look into. Accounting Features Most of the property management applications offer accounting functionalities such as tracking payables & receivables, bank reconciliation, the filing of tax and fund transfer as well. These features are built into the solution, or the solution may be integrated with third-party systems rather easily. Lease Management

2. The software comes packed with a feature that helps with the leasing process such as property marketing, rental applications, document storage and the electronic signatures as well. A leasing management feature allows property managers and owners to have an electronic trail that documents the entire leasing process. Order Tracking With the help of maintenance management owners keeps track of the property maintenance and any maintenance requests from tenants. Maintenance requests can be made from within the applications, and the application can also schedule recurring tasks. The managers can assign the work orders to employees. They can also track maintenance progress and make payments to the vendors as well. Rental Listings As a way of marketing their properties, the managers and the owners can post rental listings to various real estate websites right from the application itself. Communication Communication with tenants is an as important aspect of property management. But there are times when you get so much involved in the other tasks that you

3. can’t even take a call. The tenants can get access to their online portal which will allow them to access the information that they may need without taking too much time. Right from the app, they can pay the rent online, may check their status and also submit the maintenance requests. It offers a great way to improve the quality of the rental services. Automatic Software Maintenance And Updates Once you go for the online property management system, its upgrade and maintenance is the responsibility of the application vendor. So you can rest assured that if any changes have to be accommodated can be done without any extra cost. Data Protection Even if there is a disaster, the property management software has methods and ways to make sure that the data is safe and secure and there is no loss of the information.