The role of residential property managers can be challenging, to say the least. Aside from the obvious responsibilities of attracting and screening tenants, ensuring rent is collected on time and acting as a liaison between the tenant and property owners, they have a multitude of regular tasks. They have to have a good understanding of the Landlord-Tenant laws, help resolve any disputes and ensure all property checks, maintenance and repairs are carried out in a timely manner. And don’t forget the need to manage budgets and maintain accurate financial records.
With so many plates to spin, making great use of technology has to be a high priority. This is where the choice of property management software is vital. If you haven’t yet invested in a decent system or your current software just isn’t up to the job, we’ll help you evaluate the most important features to look for.
With so much to juggle, residential property managers are rarely just sitting in the office behind a screen. You need software that’s flexible and accessible from any device at any time. Some next-generation property management software is now actually built for mobile rather than adapted for it as we recognise the increasing need to be able to manage ‘on the go’.
With asset management, maintenance and inspections making up a significant part of the job of real estate and residential property managers, you need tools that are built specifically for this. You need to look for software suppliers that understand the unique demands you face and make producing condition reports a cinch. Look for suppliers that have integrated mobile apps that not only help you diarise upcoming tasks but help you record all the results.
While sending out statements and balancing the accounts is an unavoidable chore, there are tools that can make it far easier for you. Speed, ease of use, legal compliance and industry reputation are the key things to look for in a trust accounting software. And if it can integrate with your existing PMS you can eliminate additional costs, third-party products or needless add-ons.
Communication is a key part of the day-to-day job for most residential property managers. Whether it’s emailing tenants or communicating with property owners or maintenance managers, you need to be able to create templates and automate as much of your communication as possible. Look for property management software that incorporates this as standard.
Showcasing your property to attract new tenants is a vital part of the job. Often this might mean having a web presence or a business page highlighting apartments or properties that you now have available as well as the other amenities on-site. The best residential property management software suppliers will have website development and marketing support available to help keep occupancy high.
Getting used to using new software and making sure you are getting the full benefit of all the available features can be time-consuming and frustrating. Look for software suppliers with a great onboarding program as well as an excellent reputation for having a local, easily accessible support team and service desk. Having ‘how-to’ e-learning tools available for you to access yourself can also save you precious time trying to figure things out yourself.
Having a network of relevant service suppliers to call upon may just be ‘nice to have’. However, a good property management software supplier, who is well established in the industry, will have built a network of reliable service providers to support you. From relief managers to industry or integration partners, a good network speaks volumes on the experience of your software supplier.
At HiRUM we have developed an outstanding reputation in the permanent and residential rental property management sector. Not only can we deliver in all of the above areas, but we are also known for going above and beyond in many of them. Our End Of Month services, for example, means that you don’t have to worry about end of month processing when you take some well-earned time off.
If you’re a permanent or residential property manager and you’d like to discuss a free demo of our software please feel free to reach out to firstname.lastname@example.org
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