The proliferation of modern technologies coupled with sophisticated network protocols has unveiled new avenues for organizations, generating massive revenue and employment opportunities in developing countries. In recent past, property management practices have emerged an essential aspect of the international Real Estate Software Companies.Technology-based solutions stand in a pivotal position to offer better service to the property managers. The enormous changes have been noticed during the recent years in systems used regarding organizational structure, innovativeness and information technology, revenue, etc., which has dramatically affected the real estate operational practices worldwide. Real Estate industry can take the support of the pervasiveness of technology-based systems to advance some of their works.There are few frequently asked questions about real estate software to analyze the factors that influence a real estate’s ability to adopt property management system.
Is there a mobile app for Property Management?
Maisonette is the only real estate software company is a unique Real Estate Management mobile app which makes features like Property management, Facility Management, and Leasing very easy.It has a well-designed ticket system where you can initiate your request and register your complaints by raising a ticket.This helps you track and record the complaints till the issue is completely solved.
What are the benefits of Property Management Solution?
The benefits of real estate software cover all viewpoints such as feature, cost, and technology standpoint. Some of the benefits that can be listed are:
- A single integrated system
- Streamlining processes and workflows
- Reduce redundant data entry and operations
- Set uniform processes that are based on recognized best business practices
- Information sharing across departments
- Improved access to information
- Advanced workflow and efficiency
- Improved customer satisfaction based on improved on-time delivery, increased quality, shortened delivery times
- Turn collections faster based on better visibility into accounts and fewer errors
- Provide an entire consolidated business
Does Property Management Software help in Lease Management?
Yes. Property Management Software not only maintains first and last dates but it will also let you know when a lease expires and when new occupants are scheduled to move in. Additionally, to the initial rent amount, Property Management Software allows you to record rent increases and will automatically calculate property management fees and late fees. It is also possible to attach a scanned copy of the lease agreement so you always have it at your fingertips should you need to refer to it.
I want to switch to Property Management Software, but I’m afraid of losing my existing data. How do I migrate my data?
Real estate software companies have a strong implementation team that will handle this for you. They will secure all your historical data and migrate it to in the software.
There are several templates that they will share with you during implementation to migrate your data. Additionally, several real estate software has inbuilt data import wizards that can perform data migrations tasks for you with ease.
Can I edit and maintain my Agreements / Contracts formats?
Property Management Softwares generate Lease and Sale – Agreements / Contracts in MICROSOFT WORD format, but often the output is restricted for editing. You would have to provide authorization for editing any document.
Also, with appropriate access to the system, the user can create, modify and control all the WORD templates available in the property management software.
Can I define budgets in the Property Management Software?
Property Management Solutions offers a Budget module which allows you to create your budgets in the system. With an operational budget, you can generate a budget for every revenue and expense category.
Property Management Software is also capable of producing various reports on your budgets such as Budget Variance Report, Budget Income statement, etc.
Is there a way to handle my suppliers & vendors using Property Management Software?
If a Real Estate Software Company is providing a Property Management Software, you not only manage your client information, but you can also maintain end to end Accounts Payables. Leading Suppliers & Vendors, booking expense and supplier payments are some of the functions ready to use in several Property Management Software.
How can I organize my asset data in the Property Management Software?
A comprehensive Property Management solutions have a planned way of maintaining your asset data. Your properties can be categorized as Land, Building, and Unit. You also create a unit model to define your units in the system better. Your fixed assets and equipment can also be updated in the Software with accurate description and details.
Can a Property Management Software track the overall maintenance task executed on an asset?
An ERP software for real estate can give you a complete list of tasks carried out on the asset by the maintenance team. The maintenance team must merely tag the asset in the work orders provided by real estate software companies
Can I define each inventory in detail in a Property Management Software?
The details available in an ERP software for real estate are very comprehensive. You can add numerous information about your inventory item in the software such as item category, item description, reorder level, preferred vendor, etc. With Property Management Software you can also define if the item is a stock item or an assembly item.
Today, the nature of real estate software companies has changed entirely to cope with the diversity of changes in requirements, and it has become imperative for the service providers to understand user’s perceptions and expectations that influence their evaluation and satisfaction with the provided service.