How the Right Property Management Software Can Benefit You
It is amazing how technology has evolved in just a short span of time. The Internet is a great example of how technology has changed as it has helped improve the way we seek and absorb information. Almost every job, industry, and even day-to-day tasks can be performed excellently because of these technological advancements.
However, if you work in Orlando real estate and you are a landlord, you will notice that the conventional dynamic that takes place between you and the tenant is relatively unchanged. Some of the investors in Central Florida own several properties and yet they still write down their dealings in their journal. Some may choose to use a little bit of technology, such as Excel but that is usually where things end.
It is not fun to misplace important details about a lease argument or chase someone because they have a debt you forgot a few years back. Even though being a landlord is your primary job, you have other important things to do. You do not want to get caught up in your investments, tenants, and other responsibilities when you have a life outside of the properties you own.
Thankfully, you can turn to a Central Florida property management company that will handle all the tasks you have and more. From collecting rents to looking for high-quality tenants to tracking maintenance and repair problems, you can count on the property managers to accomplish your landlord tasks without you supervising them.
You have plenty of choices when it comes to Central FL property management companies and one of the best ways to assess them is how they have adapted to technology. They should have state-of-the-art pieces of software that can help them provide better services to landlords in Central Florida.
Benefits of Using Property Management Software
Different types of software exist for property managers. Choosing and using the right one can provide many benefits for both them and the landlord. Here are some of them:
- Say goodbye to papers. With the software, a property manager can be more organized, save money, and go green as well.
- Say hello to detailed reports. You cannot get even more detailed than having the right piece of software for the job. It can provide charts and graphs that will illustrate how much is spent as well as the money that comes in.
- The property manager can also easily check for delinquencies to make sure the landlord is benefiting from his investment. As a result, everything is much smoother and more efficient in running the business.
- Make sure compliance is maintained. With complete and organized documentation, obedience to the laws and legalities can be easily secured. All the records are right at the fingertips of the property manager. If ever an audit is necessary, they can provide the necessary data.
- Find tenants and promote the property better. Property managers require a little bit of help in their marketing efforts. They advertise the properties of the landlords to make sure vacancies are kept at a minimum. Software solutions can assist them in promoting the properties on the Internet, such as posting ads to find the tenants.
- When looking for the right property manager in Orlando, you do not want one who uses an outdated piece of software. There are many problems associated with older solutions, such as database crashes, which can be a hassle in case you need data regarding your properties. What's more, the software can have dated regulations and laws on taxes and accounting, which can get you in trouble.
What Kind of Software is the Orlando Property Manager Using?
Although you can focus on the experience and the portfolio of the Central FL property management professional you would like to hire, you should not forget to assess the software he or she uses. There are a few questions you need to ask first and you can make your decision based on the answers you get. Here are some of the most important ones:
What type of software are you using?
The property manager may be using either a web-based or premise-based piece of software. The former is stored in the cloud and does not require a huge investment. It is often faster and cost-efficient in many ways because there is typically no need for hardware or software repairs.
Meanwhile, a premise-based piece of software has its data stored in the office of the property manager. While it does not require an Internet connection and the software is owned by the company, there could be problems with this type. One big concern is that such type cannot be accessed anywhere unless the person logs in to the device where the software is installed.
What are the features of the software?
You should also ask about the features of the software the property manager uses. One of the essential aspects of a trustworthy software program is that it should provide secure access for the professional. The data should always be protected no matter what and other users should not be able to access it. This is especially crucial for solutions that are premise-based.
The software should also allow the property manager to create and manage his or her work orders, which is useful for those with many clients in Central Florida. At the same time, it should enable the professional to accept electronic payments. Many landlords these days accept credit card and other forms of payments. If you are among them, you will benefit from this feature.
Vacancy posting is yet another significant feature of the software the manager is using. It should let him or her post about vacancies in your properties online, such as on websites like Craigslist. Even better, the prospects should be permitted to apply online.
Finally, the piece of software should be easy to use. It makes sense that the solution is intuitive and user-friendly. This way, the property manager who will handle your landlord tasks can take care of them without getting confused about the buttons and other elements in the interface.
What can the software do for me?
Having a piece of software can definitely be useful for the property managers. Their work is simplified and can be done almost instantly. So how will it work for you? As a landlord, the software should help you in many ways, including streamlining property repairs and maintenance.
Believe it or not, the software can make it easier to handle tasks that can keep your properties in pristine condition. Small problems can be managed so that they do not become serious, which can be very helpful and can save you from a lot of trouble.
For instance, if there is a wobbly staircase, the property manager can fix it for you before someone gets hurt. The software will schedule the inspection and the maintenance for the problem staircase. It can also track current issues for follow-up while allowing landlords understand the costs of the process.
Another important use for landlords is that it allows them to communicate more effectively to the property manager. Communication is key and this can be accomplished with the help of the software. Property managers can contact the tenants as well by storing vital information about the owners and tenants of the properties.
Working with a Central Florida property management firm with high-tech software solutions can make all landlord tasks so much easier.
Here at American Dream Homes, we serve our landlords with one of the most well-developed online software platform available. You can read more about our technology and how it benefits each landlord here.