How property management software helps landlords

Property managers must balance needs and interests of landlords and property owners as well as tenants.

Tags: Economy

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Managing properties is a task that requires a great deal of attention to detail. As a property manager, not only do you need to ensure your tenants are happy and taken care of, but you will also need to ensure that all stakeholders and the landlord are happy, with their interests taken care of.

In order to properly managing a property or various properties, anything you can do to make things run that bit more smoothly is in the interests of absolutely everyone.

Although you can’t fully automate the processes involved with property management, there are a number of property management software solutions that go a long way in making the processes that bit more straightforward and easier for everyone (source: Arthur Online).

Additionally, generally keeping abreast of the general day to day and month to month tasks of managing rental properties, both residential and commercial, will stand you in very good stead when it comes to property management.

What Does it Do?

These technological solutions to the perpetual and ongoing challenges and problems landlords, tenants and managers have when renting, can save hours of everyone’s time and potentially thousands of pounds.

From a portfolio landlord’s perspective, software that manages various important aspects of their portfolio and properties in one place is hugely beneficial. Property management software, takes care of a great deal including:

  • Onboarding Tenants – Traditionally one of the most tedious tasks as a landlord or managing agent, getting new tenants and service providers into the processes they need to be, can take a great deal of time. However, dedicated property management software makes these processes much easier and quicker than manually doing so
  • Continuously Smooth Contact – Because all parties and stakeholders are connected through the software, contact between the tenant and landlord, tenant and management, landlord and service providers and much more is seamless
  • Reporting and Costs – Everything connected and plugged into a logical piece of software means that every aspect and therefore every cost associated with management of properties can be effectively tracked and costed. This means that everyone is kept in the loop with regards to costs and money, keeping the entire process transparent and clear
  • Quicker Solutions – Because everyone is linked through the same clever platform, it doesn’t matter whether the tenant is a large department store in Central London or a smaller nursery in North London, everyone gets their problems addressed far quicker. This is because service providers like builders, engineers, plumbers, electricians and more get notified via the platform every time the landlord or tenant raises a relevant issue
  • Totally Inclusive – In the past, where there have been technological advances in specific industries, often it is only the ‘bigger players’ who benefit from the advances, particularly in the early stages, in the case of property management software, everyone, from a landlord of a single buy-to-let property to a portfolio property landlord owning hundreds of rental units can benefit. Likewise, all types of tenants and residents can benefit too