5 Ways a Property Management Software Can Help Simplify Managing Your Rentals

Using property management software (PMS) enables you to save time, cost, and money.

One of the core advantages of using a PMS is to free up valuable time. You can dedicate your time to the core business activity of finding and managing tenants. You no longer need to worry about manually adding every transaction.

Let us discuss how property management software can simplify your property management tasks and help you grow.

Let The Property Management Software (PMS) Work

Technology is a great enabler. It can help you save time, money, and effort in every business aspect.

A property management software (PMS) like Ivan helps you manage your rentals. You can automate most of the tasks and enjoy peace of mind.

We have been through a hard time recently due to the Covid-19 pandemic. It forced all of us to work remotely and look towards technology to answer our challenges of dealing with industries like real estate.

A property management software can help you as a property owner or a property manager. Whether you want to automate your bookkeeping tasks, create a contact list, manage billing, or send invoices.

A PMS like Ivan can help landlords, property owners, property managers, and flippers manage their properties in one place.

In short, you can let a PMS work and sit back with peace of mind.

5 Ways a Property Management Software Can Help Simplify Managing Your Rentals

As mentioned above, a PMS is a right solution for your property and rental management problems.

One of the main advantages of using a PMS is to automate most of the tasks. Although you cannot digitalize every property management task, you can still manage it digitally.

Here are our compelling 5 reasons for you to choose a property management software like Ivan to simplify managing your rentals.

Manage Property Operations Easily

Property business operations are physical and require human resources, time, labor, material, and other similar tangible resources.

While you can’t perform property operations digitally, you can outsource and manage these tasks easily. This way, you can save time, cost, and effort.

Unlike the common notion, automation and outsourcing of rental property businesses lower operational costs in the long run.

Using a PMS can automate maintenance requests. Tenants and residents of your property can send maintenance requests digitally. You can then assign the tasks to your trusted partners.

Similarly, there are different maintenance tasks that are recurring. Tenants can mark these tasks and send you requests instantly.

Digitization also helps you manage vendor relationships. A PMS automates the procedure and efficiently manages your vendor relationships.

As a property manager, you can generate and keep inspection reports digitally. It means your inspection record will be accessible and searchable easily. Also, you wouldn’t have to worry about data backups and security issues.

Manage Your Business Financials

Managing business financials is a key to success for any business. Rental Property businesses are no exception to that as well.

While you can keep a simple system of financial record-keeping on paper or using spreadsheets, it’s not the most efficient way.

Using a PMS can help you manage business financials efficiently.

Your account books will be digitally stored. It means you can produce a payment receipt instantly whenever a tenant puts you in doubt.

Similarly, you can proceed with vendor invoices, generate new ones for you, and handle payment queries online.

Automation of accounting and financial records means you don’t have to be a pro at everything. All you need is to use the right property management software.

Imagine updating each payment received from a tenant and made to a vendor every time manually. Or, calculating your taxes manually after adjusting all accounting entries manually. Neither it can help you save taxes nor to save time.

Freeing this time can help you focus on the core of your business activity.

Manage New and Existing Tenants

As a property manager, you’d always be looking for new and good tenants. You’d also want to manage your relationships with the existing tenants.

A property management software allows listing and publishing rental vacancies. You can allow applicants to submit their interests online.

This way, you can perform a quick background check online instantly. It will save you time and effort greatly. It means you no longer need to bear with bad tenants.

You can also keep digital records of your existing tenants. As your business grows, you can further customize the PMS portal as per your growing needs.

For instance, with advanced software, you can also perform credit checks on your tenants and new applicants.

In short, using a PMS can help you save time and effort when it comes to managing your tenants. You can digitally perform tenancy advertisements, Listing, handle online applications, perform tenant screening, and much more.

Enjoy Business Growth

Using property management software was once an option for landlords and property managers. It has become a necessity for them now.

In the past, landlords could manage all property management tasks manually. Primarily, for the fact that the pace of business growth was slower.

Nowadays, most if not all, property owners and managers are using a PMS. It means using a PMS is no longer an option. Rather it has become a competitive advantage.

A great way of property business expansion is to realize the work from anywhere concept. You no longer need to visit your property regularly or assign human resources to perform routine tasks.

We have all seen growing trends in remote working. A PMS is a great enabler for you to join the remote working community without compromising on business growth.

Collectively, using a PMS means you can control the business growth pace. It lets you scale your business operations effectively.

Access to Information

One of the key challenges with going digital is to access the right information at the right time.

As a landlord or a property manager, your communication skills are pivotal. You need to communicate with the tenants, new applicants, vendors, employees, and other stakeholders.

Therefore, you need the right tools to manage communication and keep the key information at your fingertips all the time.

From creating a simple contacts list to storing accounting records. And from creating new listing ads to sorting new applications, your access to information is the key to managing the business.

A good PMS will provide several features such as real-time notifications, reminders, requests, and so on.

Using quality property management software can ease your burden. It makes your life easier and happier.

Take a look at some of the key features of Ivan and become more efficient in managing your property management skills.