Property Management Systems are commonly known for streamlining the back-end processes of property managers efficiently. From automating, digitalising, and storing necessary documentation in an online system to optimising the process involved in financial transactions, property management systems help landlords or property managers to stay on top of a wide range of complex operations in one go. What is less regarded by property managers when implementing a software solution is whether it helps the tenant to carry out operations with the landlord. This article will provide an overview of how a property management system can help a tenant’s life.
What Is A Property Management System?
A property management system is a software solution purchased by property managers of an apartment complex, a hotel, or any other type of building. Its central focus is to help optimise all processes, thereby helping to save the overall time and finances put into managing a property. This is done explicitly by transitioning to an automated environment that eliminates everyday operations. Such a solution can also reduce the labour force needed and help the manager to monitor a range of properties under them. Considering that different buildings require various features that are not needed in another, an ideal property management system should allow the manager to customise the solution. Providing remote access with added security protocols and having a friendly user interface are other aspects that must be present.
Six Ways A Property Management System Can Help Tenants
It should be noted that there are no exclusive modules that directly cater to the tenant. In other words, the features or modules offered in a property management system play a dual role as they can help both the property manager and the tenant. Hence, while some of the advantages tenants receive are obvious and direct, others will indirectly benefit the tenant. Here are six ways how a property management system can satisfy both parties:
Visitor Management
When the property manager handles an apartment complex or multiple properties with more than one house unit, the property manager has to ensure that visitors are authorised to do so. This is mainly because property managers promise their existing and potential tenants a safe environment for tenants to live peacefully within a gated community. Hence, implementing a visitor management system is a way that helps other tenants feel safe. This is done by inserting the information of a potential visitor into a log book. Generally, the tenant will be required to inform the security that guests are expected and subsequently, their details will be taken to ensure only those allowed to do so can enter the complex. A property manager can easily digitalise this process with a property management system, ensuring that the names are properly inserted and that no errors occur. Other tactics adopted to safeguard tenants include guaranteeing that the CCTV cameras are switched on and are in active operation and monitoring the steps of every person who enters the complex.
Billing Reminders and Acknowledgements
While a set day of each month is scheduled to make payments, a property manager finds it easy to send automated reminders. This also helps tenants remember the relevant fees due to be paid. Hence, if a property manager finds it difficult to pay before that day, this can be communicated to the property manager well in advance. Where fees are increased annually, this mechanism is a great way to help tenants keep track of updated rent. A good property management system also allows tenants to pay via a secure online gateway and receive a receipt instantly for one’s record. Every financial transaction made to the proper manager is recorded in a dedicated profile created for you.
Communicating Has Never Been More Easier
Traditionally, when a specific unit required maintenance, the tenant had to constantly remind the property manager to look into it. In other words, the tenant must take a proactive role to ensure that the issue is looked into and that maintenance is provided. Thus, the tenant must also constantly meet or call the property manager for a problem to be solved. With a property management system, however, the tenant needs only to fill a maintenance order request via an online platform. The tenant can view the progress of the property manager in attempting to fix the issue in question through the platform. Hence, tenants can easily check for updates online instead of asking the property manager for updates.
Safeguarding the Health of Tenants
A sound property management system can monitor a property’s assets. As a result, such solutions can monitor the building’s HVAC condition (Heating, Ventilation and Air conditioning). Where routine repairs or maintenance is required to be carried out, a warning is dispatched to the property manager. Prolonged duration to such environmental conditions is not healthy for tenants and their families. Hence, property managers can prioritise maintenance in each unit accordingly by receiving notification of an anomaly in such assets. It is generally noted that tenants cannot detect such issues. Hence, a property manager who has adopted a property management system can boost its reputation as the property takes preventive steps to ensure the complex is sustainable and maintains a safe environment.
Documenting and Sharing All Legal Documents
A range of legal processes is carried out before the tenant officially takes residence. It specifically includes the lease document, in which all terms and conditions regarding the tenant’s stay at the unit are dictated. This is a document that should be safeguarded and not be misplaced. In a property management system, managers can protect all critical legal documents. Not only is this a great way to stay paper-free, but it is very convenient to find a record of it in seconds. This same feature is available to tenants who can simply find all their legal documents shared on the dedicated profile made for them. Hence, if the physical copy is unavailable by any chance, there would be no reason to panic.
Moving Out Made Easy
Similar to the amount of legal work that needs to be completed when moving into a home or an apartment, tenants need to be able to move out efficiently. Putting an end to the legal contract and ensuring all arrears are made are essential points both the manager and the tenant will look into. Further, assessing whether the tenants owe any fees for repairs or damage incurred is integral point managers consider. In this respect, tenants can easily receive an invoice that specifies what they are being charged for a month or week before leaving the property. With a simple glance, a tenant can obtain a breakdown of expenses they must bear through the online system. Moreover, a property manager can easily schedule the mandatory clean-up and repairs that must be carried out before a new tenant comes into the property through its property management system. Through this, the incoming tenant can ensure the property they step into feels like they are in a brand new apartment.
A Solution To Keep Both Parties Informed and Happy
Anyone can be a property manager. Those who manage a home for another may not necessarily require a property management system. However, those who manage one or more commercial buildings will find it an excellent asset. Keep in mind the feasibility of a property management system will significantly depend on the vendor you purchase the solution from. Hence, depending on the reliability of the software vendor, you can unlock a range of features that will keep you and your tenants happy. Suppose you have never implemented a property management system despite its advantages to a property manager; this is to assure you that it is a win-win situation. Therefore, to completely optimise your operation, consider making a worthy investment.
