Changing business climates require investors and property owners to adapt to the times. Having the right software system can significantly help in property management operations. Yardi, Appfolio, and other software systems can help property owners scale their operations. These software systems can also significantly help with the automation of different transactions and online payments. You can manage your operating budget and create the most convenient rental experience for your renters/tenants. Having the right property management software creates the right conditions for affordability, simplicity, and efficiency of design and improving the relevant services related to your properties or investments.
There are so many opportunities to scale your operations with the right software. If you are struggling with monthly accounting and payments, your cash flow is suffering because of outdated software (everyone begins with Excel). You will love software solutions like Yardi, which BAS specializes in.
All in One Place
Property management software brings together the most significant parts of the puzzle in one place to make your system more efficient.
Tenants and Leasing
Perform tenant move-in and tenant move-out accounting. Communicate better with your tenants with easy to generate accounting and reports. Manage different leases better and receive online payments through a secure portal on a website. Tenant and owner data are secure and can be accessed through secure log-ins as well. Online rent payment is also essential now that we’re dealing with a pandemic.
Maintenance
Forget about all those years that maintenance requests and calls are manually fielded, and you have to write things down. With property management software, you can receive timely maintenance requests online, make recurring schedules for vital maintenances activities, and more. Maintenance-related communication can also be done online. This is the best time to be as organized as possible, and you can achieve it with just one system in place. BAS can train your team every step of the way to master this new system, so they become experts in a month.
File Storage
Your software subscription gives you access to all the cutting edge innovations in the fields of accounting software and property management systems. File storage is at the heart of every database. Having dedicated file storage for your property management solution allows you to store innumerable files, provide lease agreements for online rent applicants, connect different files to renters or tenants, create logs for maintenance, store files related to maintenance activities, and more. The great thing if you don’t have to look through several folders and areas anymore to find what you need. The property management software takes care of that for you. The more organized you are, the quicker you will find receipts, logs, records, and documentation. Your team, should you have one, will be able to fulfill its many roles effectively and efficiently, thanks to a centralized system with its database and digital resources that can be accessed any time.
Reporting & Accounting
Bookkeeping has never been an easy task when done manually. However, when you have accounting software that includes the numerous accounting functions that turn the process into a point and click process, anyone can be an accounting expert. Get real-time insights from your properties, track all the inbound payments, and generate comprehensives reports where you can see and understand vital markers easily. The property management software turns into your virtual bookkeeper and accountant and takes away 99% of the struggle associated with manual accounting. Newer software systems offer the ease and convenience that wasn’t possible without having an accounting company working on crunching all the figures for investors and property owners before.
Owners Benefits
Property management software allows for quick and painless online distributions and contributions, as well as access to a rental owner’s portal. You can easily streamline communication for different purposes and share vital reports related to the property in a heartbeat. Find and access files when you need them and never be at a loss about what’s happening to your property ever again. As long as someone in the team knows how to use the system and add data to it, the system will be available to bring organized data 24/7.
Are You Migrating to Another Software Solution?
Understandably, some property owners are still using legacy software. Like we said earlier, everyone begins with Microsoft Excel. However, Microsoft Excel is only useful when you are managing one or two small properties. And the convenience isn’t there yet, because you are only using a spreadsheet and not an accounting system. Investing in property management software expands your capabilities. The new system takes care of essential changes in property regulations and expectations and service. The new technology adapts quickly to the times and never introduces before seen processes, features, and capabilities. This new wave of the solution has paved the way for this industry’s re-emergence into the new century, where everything is becoming personalized and efficient online.
When selecting property management software, keep these in mind:
– How much will the solution cost? Some software solutions start to get expensive when the number of doors increases.
– How will your data be secured? Secure cloud-based services are the norm. Data security ensures that only authorized eyes have access to information. Part of the challenge in today’s business atmosphere is keeping private data, well, private.
– Will it helps with automated payments? Automated payments are a must for different kinds of properties. Whether you are leasing a one-bedroom unit or an apartment complex with more than twenty doors, payment automation benefits the property owner by reducing the number of significant reasons why renters can’t pay on time.
– What is the quality of tech support? The available tech support for your software system has to be adept in handling emergencies and challenging questions and should be able to troubleshoot on the spot.
