Financial Resource

Have you ever heard of property management?  How about property management software?  These are just some of the jargons used when it comes to real estate business.

Property management means managing different types of properties such as commercial, industrial and residential that involves two key players in the business.  These are the landlords and the tenants.  The landlords monitor their tenants, collect rent from them and help address their client’s problems.  The tenants are those that rent a vacant space in the property.  This system has been going for several years now without any significant changes except today with dawn of property management software.

Firstly, the software on property management helps in monitoring tenants’ payment history thru an online payment history feature which tenants can access using their personal account on the community website found on the internet.  This special feature allows them to view their previous payments as well as the current status of the present month.  As an added feature for landlords, they can send email notifications to their tenants reminding them of their past dues as well as a payment that needs to be made for the present month.

Secondly, the software is in charge of collecting the monthly rent instead of the landlords making it more convenient for latter with its online payment option.  Just as the name suggests, it provides 2 options when making payment which is either thru the use of any major credit card or electronic check allowing them to pay from just about anywhere. They can also pay at any time of the day everyday of the month.  Using this software definitely is a time and money saver as it spares landlords from having to travel just to collect rent.

Lastly, the software serves as a venue for the exchange of significant information between the landlord and the tenants.  It permits tenants to send their individual concerns directly to the landlords in the hopes of a speedy response from landlords who religiously must address their replies.  They can also post important information on the community website to address the general concerns.  Such a system definitely helps in bridging communication between landlords and tenants.

Thus, property management software is indeed very helpful in a property management business.  It monitors tenants, collects rent from them, and provides a good location for communication between landlords and their tenants.  It’s definitely something worth investing on if you have this kind of business.

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