What is Property Management Software?
Property Management Software (or PMS) are platforms designed to help property managers and agency principals look after commercial or residential properties on behalf of their actual owners. These platforms can be installed onto your device or cloud-based.
PMS systems combine all the main functions of property management into just one platform that usually offers features including trust accounting, maintenance and inspection, along with communication and reporting.
FAQs about Property Management Software
Good property management software should always address the needs of Accounting, Operations, and Management and Leasing. The best property management software integrates these three main categories into their build. Here are some features you should look for:
- Accounting features - these include functions such as electronic fund transfers, tax filing, and bank reconciliations, as well as tracking cash flow both coming in and going out.
- Operations features - these include a website that promotes your listings and your company online, owner/tenant portals, features to share and store important documentation, user accounts for team members with remote access options and so on.
- Management and leasing features - these help you out with processing rental applications, property marketing, storing documentation and filling out electronic signatures.
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Disclaimer: The views, information, or opinions expressed in this blog post are for general information purposes only and should not be relied upon. We have not taken into account specific situations, facts or circumstances, and no part of this blog post constitutes personal financial, legal, or tax advice to you. You should seek tax advice from your accountant, specific to your situation.