Property management has its own distinct challenges. You need to market your vacancies, oversee the leasing cycle, collect rent, and manage a range of services, including maintenance and landscaping of buildings.
Several property managers and landlords are using QuickBooks to manage their finances in an attempt to simplify. You can set up each unit as a customer and each tenant as their job and use the software to track new owners, issue monthly statements and automate invoices.
QuickBooks may look like a good solution at a glance. But it is only meant to help with the general finances. But only one aspect of property management is handled by QuickBooks. You are likely to achieve your financial goals using its accounting features. But in order to remain competitive in the property management environment, you should go the extra mile. That’s why, with QuickBooks and other solid accounting software, property management software has become a popular choice.
Property management is much more complex than financial management.It is important that you have a system in place to help you execute some key functions when it comes to managing multi-unit rental properties.
Related Post: Micro Apartments-Redefine Real Estate Trends
Property management software offers a lot of options for your business performance. From Managing Multiple Properties with all the essential features that your business needs. Whether you are a landlord managing a handful of properties or a property manager with hundreds of properties.
Your software solution must enable you to:
Centralize and Digitize information
Property managers have no patience for data to dig through. You need to combine everything in a secure online hub that can be accessed 24/7 by you and your team. Accounting solutions out-of-the-box just deal with one part of your business line: accounting. You will be able to monitor maintenance issues and rent collection with the right property management software and easily share relevant data with employees, contractors and tenants.
Efficiently collect rent
Unlike QuickBooks, industry-specific software makes moving the entire request for maintenance to the cloud easy. You must ensure that repairs are performed quickly and correctly from filing service requests to issuing work orders to tracking progress. The correct software also allows you to keep tenants in the loop and monitor the performance of contractors, ensuring transparency and accountability. And while increasing time-consuming paper-based applications, it does all that.
Establish Strong Communication
Good communication is the key to maintaining positive relationships with tenants, contractors, and employees. Whether you’re talking about routine maintenance announcements or holiday greetings, you need an effective channel to communicate with your team and they need to be able to reach you as needed. Property management technology provides a portal that enables easy communication through email or SMS, allowing users to use their preferred device: laptop, tablet or smartphone.
Property Management Software:The Solution you need
Property managers and landlords will see lasting benefits through Mpower. Mpower is a real estate management software that lets you list all your spaces on the dashboard, accept inquiries for the listed spaces and earn effortlessly. You can also maintain financial records and paperwork that reflect the transactions made with the bank and the customers. Moreover, we provide you with a dedicated relationship manager that looks after all your queries and resolves them in no time.
Manage your entire space inventory and earn effortlessly with Mpower!