What Does Property Management Software Do?

Are you a property manager handling a lot happening on your plate? For decades, property managers have been using emails, spreadsheets, and paper to make records and jot down all the transactions, tasks, tenant requests, and different day-to-day tasks. Fortunately, there is now property management software to automate repetitive tasks.

What is Property Management Software?

Property management software (PMS) is a software application designed to perform operations of commercial rental properties and hospitality accommodations for better transparency and performance on a device. Property management software is primarily made for property managers. This enables them to monitor commercial and residential properties on behalf of their owners.

What Does Property Management Software Do?

Listed below are some of the core functionalities of property management software:

Rent Payment Processing

Property management software is designed to streamline the process of rent collection. Most PMS solutions have a residential portal for the tenants for easy online payment.

Lease Management

The software for property management centralizes information about tenants and stores electrical leases in the system, Property Management Software can even send auto-reminders for lease renewals before the due date. This makes the lease management easier.

Maintenance Tracking

Maintaining a large portfolio with numerous properties is not easy. Tracking and

managing maintenance requests and contractors is also not easy. However, PMS gives you an online platform to allow tenants to submit maintenance requests.

Tenant Screening

Tenant screening is the process that evaluates the prospective tenants by making the assessment of the likelihood of the tenant completing the lease terms while taking appropriate care of the property he or she has rented. It would take a lot more time with the traditional method. Property management software has made

it easier.

If you want to expand your business then switch to PMS software and say goodbye to the regular administrative tasks.