Top Real Estate Property Management Software Features to Help You Do More

13.06.21 10:01 PM Comment(s) By Assetsoft

Top Real Estate Property Management Software Features to Help You Do More

How can you leverage more productivity for your real estate business with a good property management software? Popular real estate and investment management software like Yardi and MRI focus on automating tasks, streamlining business processes and above all - be flexible.  


You can track leases, automate maintenance tasks as well as collect rent and manage finances the smarter way. With plenty of third-party integration options, it’s easy to continue what you’re doing now – with a much more structured, streamlined approach. 

Get Started with the Right Software for Your Business!  

Assetsoft helps you choose the right property management software for your business - taking into consideration the features you are looking for. We can help you: 


  • Streamline all business resources for better productivity 

  • Manage properties and leases including move-in, movie-outs and work order management 

  • Rent collection and vendor payments made easy 

  • Create robots to automate all mundane tasks 

  • Provide a financial overview and valuable insights on how to increase profits 

  • Track projects for on-time completion 

  • Easy lease renewals and account insights 

  • Integration with marketing tools 

  • Budgeting, forecasting and CAM reconciliations  

  • Secure data over the cloud 

Real Estate Property Management Software: The Top Benefits  

Sales

Major property management software companies like Yardi are making the transition to online marketing easier. Yardi’s RentCafe, for instance, integrates seamlessly with Yardi Voyager, making property listings simple and easy.  Here is how your property management software can integrate with your sales team.  

1. Online marketing integration

With products like Yardi’s RentCafe or MRI’s Market Connect, you can: 

 

  • Increase visibility in search engine results 

  • Bring more organic traffic 

  • Generate more leads and build brand credibility 

  • Increase your social media outreach 

2. Property listing

Property listing feature allows you to list all the available properties on different platforms. Through listings, interested buyers can contact you for more details on the property. 


Turbo Tenant Software allows you to list your properties on various sites including Rent Jungle and Apartment List. Automated Craigslist form filling, access to tenant databases and rent calculators makes property listing and lead generation much more easier. 


It also allows tenants to apply for listed properties and alerts the users as applications come in. 

3. Al-Assisted tenant onboarding

Manual tenant screening can be a tedious process and usually not yield the results you are looking for. Finding reliable tenants is important if you think long term.  

 

You can use artificial intelligence for tenant screening, and complete background checks. The AI asks for basic information along with some images, which are run across a database for checking criminal and eviction history.  

 

Data such as the credit history is collected through an AI interactive bot and uploaded to your account. This can reveal the lead’s current financial situation and their credit history. It tells you whether a tenant is known to pay their bills on time, reveal any debts and look for previous bankruptcy. 

 

AI assisted tenant screening can achieve fewer evictions and increased financial performance. Assetsoft can also help you with back office accounting and lease abstraction. 

 

After tenant approval, AI can also help in updating the availability and databases for new tenants. The software can also assist with self-guided tools, much needed keeping in mind the present pandemic. 

 

You need a software that covers the three main aspects of tenant screening, that is, tenant background check, rental or eviction check and credit check. Assetsoft can help you find the right solution for you. With our ERP solutions, you can easily generate reports that and determine if a lead qualifies to be a tenant in your property.  

Real Estate Property Management Software: The Top Benefits  

1. Maintenance automation

With maintenance automation, you can easily track the maintenance requests submitted by the tenants. Through different tenant portals, you can ensure: 

 

  • Quick submission of maintenance requests from tenants. 

  • Increased tenant satisfaction levels, to improve occupancy. 

  • Schedule different maintenance for recurring activities. The software will provide a reminder when property maintenance is due. 

  • Easily order any service required for maintenance and transfer the costs to the accounting section. 

 

You can also track how your team performs, your inventory, and your equipment to optimize your assets. 

2. Tenant management 

AI bots can complete tenant related functions to automate lease renewals, rent collection, and track payments. You can also collect work requests from tenants and supply them to the vendors. All records of requests and completed jobs are available in the data storage.  

 

For example, Yardi and MRI have built-in tools that allow property managers to easily interact with potential or already existing tenants. Through the interactions, it allows you to store any relevant data and generate related reports. It also integrates with your CRM software to store leads into it.  

3. Tenant and lease tracking

An important feature in most property management software, it lets you keep up with information about your tenants and lease agreements. It includes details like lease renewal dates, contact information and payments due if any.   

4. Inspection

It’s time to replace manual inspections through several ways. Get a checklist of the properties needing inspection, quickly uploading any repairs needed, and online signature uploading of the inspecting officers.  

5. Online portals

Tenant portals give tenants a channel to maintain contact with the landlords as well as other tenants. They can update their information, pay rents and renew leases through this portal.  

 

Property managers can track applications, leases and payments. There are also several self-service features for tenants that lets them communicate with the owner, schedule inspections and request maintenance, all from the comfort of their homes.   

Finances:

1. Data insights

Generate valuable insights that your sales and marketing team can use to predict high business months, suggest required changes, and provide easy-to-read visualizations of the data.  

 

See areas in which you can improve and make necessary tweaks to increase sales and profitability. And make your online marketing better by using lead interaction data. 

 

You will also be able to plan and manage the available spaces better.     

2. Payments and accounting

Manual calculations and accounting can be a tedious job. Accounting features in the software can provide a holistic view of all your finances including forecasts. Report generation can be used to gain insights and make manual predictions for good investment.  

 

With automated accounting features, the software easily handles all operations related to accounts payable and receivable.  

 

If you want to keep track of your accounting data, you can also make financial modules and also gain software developed insights to increase cash flow. By having an accounting function, you can also minimize the errors in calculations and develop more accurate figures. 

 

The Rent Manager is an excellent software to handle your accounting needs. For any company irrespective of the portfolio size, the software provides features such as budget creation, importing payrolls, generating reports and also bank reconciliations.      

3. Budgeting and forecasting 

Manual forecasting can be error-prone and involve lots of time and effort.  By choosing AI budgeting and forecasting features you can integrate all the current financial data with the past lease information to predict future costs. By getting data from a centralized system, you can skip the hassle of collecting information from various systems and generating elaborate spreadsheets.  

 

Computer-generated forecasts use relevant insights to produce customised predictions.  These reports can be auto generated to be shared with other clients and stakeholders. Using these reports you can make data-backed investments, reduce risks and costs as well as improve overall returns on your properties. 

 

The Yardi Breeze Budgeting and Forecasting software addresses all your forecasting needs. It gives accurate budget predictions for rents, charges, and concessions and helps with the calculation of future cash flow by analysing real-time data to determine NPV and IRR at a property level.        

Others:

4. In-cloud data storage

  • Real time analytics: All the information is readily available, up-to-date and relevant. 

  • Flexibility: Data stored can be accessible anywhere, with the right user permissions. 

  • Lower costs: On premise data storage requires considerable investment. With the cloud, you can get similar data storage at reasonable prices, usually tailored to your company’s budget. 

  • Scalability: Cloud data storage also scales your data to the appropriate size for any development stage.   

5. Easy Collaboration and Better Security

Storing data over different applications carries with it an inherent security risk. Storing data over a property management software, on the other hand, is safe and requires no installation. Data can be stored either over cloud or on the application.  

 

Many cloud property management software, for instance, need no installation. As a result, you can expect reduced costs, automatic backups and better security, making it a great choice for property managers and real estate agents.  

The Top Benefits of Using a Property Management Software 

Many popular choices like MRI, RealPage, or Yardi can help you streamline your business operations.  


  • Automate complex calculations such as leases and taxes. 

  • Make strategic changes in your property and move with current trends using information from the software. 

  • Better staff coordination by having access to all departments in a centralized database 

  • Better data protection through cloud-based storage and multiple security measures 

  • Simplified tenant experience with AI bot assistance 

  • Preservation of valuable time, money, and resources 

 

Assetsoft can also help you with your Robotic Process Automation (RPA) needs, creating robots that automate all those mundane, time consuming tasks, from racing emails to processing invoices.  

 

From Yardi consulting to MRI implementation, the Assetsoft team can help streamline your business work process. We can help you choose the right ERP, build RPA robots to increase work efficiency and take care of all your back office accounting needs.  

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