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The world of property management is changing. No longer are hundreds and thousands of PDFs, paper files, and spreadsheets required to run a business. Property management software can now automate property managers’ daily tasks so they can focus on growing their businesses and living their lives.
What is Property Management Software?
Property management software are web or mobile apps that streamline property managers' most common daily functions. These functions include:
- Accounting
- Maintenance Requests
- Digital Inspections
- Customer Management
- Rent Tracking
- Tenant Communication
Accounting with Property Management Software
Accounting functions built into property management software help property managers quickly and accurately take care of their books without the hassle of copying and pasting from multiple accounting platforms or bouncing around 30 spreadsheets.
Propra’s Service Accounting makes it easy to keep track of a property’s finances when collecting rent, paying bills, and recording expenses.
In addition, Propra allows managers to log any expenses that occur, manage their chart of accounts, monitor their accounts payable and receivable, and automate maintenance request billing for integrated records.
Full-Cycle Accounting with Propra
- Record rent due from every property in 1 step
- Easily record EFT collection
- Track bill payments
- Manage everything with one chart of accounts
- Customize account reconciliations
- Automate expense records for maintenance requests
- Automate security deposits due for collection
- Efficiently manage GST for commercial properties
- Automate management fee calculations
Maintenance Requests with Property Management Software
Scheduling Maintenance Requests
Traditionally, scheduling a maintenance request was a draining experience for both tenant and property manager. Tenants needed to call or email and fill their managers’ voicemails and inboxes with their issues without providing useful details. Sorting through and tracking each request was a time-consuming process for property managers and a frustrating wait for tenants.
However, property management software can now streamline the entire process so issues can be solved quickly and managers aren’t overwhelmed with requests. All tenants need to do is submit a maintenance request to Propra with just a short email. They will then be prompted by Propra’s automated Smart Templates to include details regarding the issue and the best time for operators to come by.
This gives property managers all the information they need to schedule a maintenance request with the right operator at a time that works for all parties. This removes the time-consuming back and forth that normally occurs between tenant, manager, and operator.
Fulfilling Maintenance Requests
On the other end, Propra’s mobile app for operators on both iOS and Android allows operators to access images of the issue, receive special notes regarding entrance to the property, and call the tenant if they aren’t home.
Operators can then submit photos of the issue and log any material costs incurred during the repair. These costs will be automatically accounted for within Propra’s accounting software and logged within the proper expense accounts.
In addition, time tracking for request completion lets managers monitor the time taken to complete each request. This allows them to recognize when issues are taking longer than they should and put the systems in place to improve efficiency.
Digital Inspections with Property Management Software
Inspections are a critical yet time-consuming part of the rental process. A breakdown in communication because of an unclear inspection report can create conflict between a tenant and property manager before the lease has even started.
The launch of inspections on Propra’s mobile app for managers (on iOS and Android) takes the inefficiencies out of the unit inspections process by rethinking the conventional pen and paper practices of property management by allowing managers to complete a unit inspection entirely on their devices.
A property manager can now type notes and take images during the inspection that are instantly time-stamped, labeled, and attached to the right room. Maintenance requests can be created at the touch of a button so that issues found during inspections are addressed quickly and don’t become big problems.
At the completion of the inspection, Propra will automatically generate a detailed report that will be sent to the property manager and tenant. All parties can now have complete trust in a unit’s past and current condition.
With streamlined communications and data transfer in Propra’s robust, all-in-one platform, completing unit inspections has never been easier, saving property managers time and money so they can provide the best possible customer experience.
Customer Management with Property Management Software
Property management software allows property managers to keep track of all their properties, units, and tenants without thousands of paper or digital files. Having all of this information enables Propra to provide a complete picture of managers’ businesses from a single browser tab.
Managers can see exactly which leases need to be renewed in the next month, which units are vacant, and the total vacancy rate of their properties.
In addition, property managers will never lose tenant information or documents again because Propra safely stores this information in the cloud. This reduces their liability and prevents any discrepancies from lost information creating conflicts between manager and tenant.
Rent Tracking with Property Management Software
With just a click of a button, property managers can post their rent roll for all of their properties using Propra. Accounting for every unit they manage in just 10 seconds. No longer will managers need to bounce from excel sheet to excel sheet inputting and monitoring each unit’s rent for this next month.
If tenants use an automated bank deposit property managers can account for their deposits and automatically check them off their rent roll for the month by running a single task. This gives managers the time to focus on manually collecting payments from their other tenants.
Within property managers’ receivables accounts, they can then monitor any overdue payments and recognize exactly who is consistently overdue and may need some extra attention from them.
Tenant Communication with Property Management Software
The key to a good tenant-manager relationship is trust, and communication is the basis of all trust. Consistently providing information to tenants keeps them in the loop and when managers deliver on the commitments made in those messages trust is built and a positive relationship is developed.
Communication with tenants is simplified with property management software like Propra. Announcements from Propra give property managers the option to send a message to every tenant in a property either by email or a text-to-voice phone call. Individual messages can then be sent within Propra so managers can notify tenants of overdue rent or address the reason behind a delay in maintenance without leaving the Propra web app.
Having all tenant communication coming from a single source provides clarity to tenants and ensures that miscommunication and frustration from being out of the loop never happen again.
With Propra, tenants can be confident that they’re getting the most up-to-date information on maintenance requests, special announcements, and important documents like inspection reports.
What Does Property Management Software Do?
Property management software reduces property managers' workloads by leveraging cloud-based software to automate the daily functions of managers including accounting, maintenance requests, and tenant communication.
Book a demo today to see how property management software like Propra can elevate both the property manager’s and tenant’s experience.
