Real Estate managers and owners have to maintain many properties, buildings and provide the customers with the relevant information of the property. Introduction of internet and modern technology has automated many tasks and helped to conduct various analytical tasks saving critical time as well as costs of an organization. One such software, which allows the Real estate managers to perform their jobs efficiently is Real Estate Management software.
There are many types of commercial real estate management software available in the market, which provides specific sets of advantage over the other and help the managers to conduct their jobs. The onus lies on you to understand the requirements of the software and choose the relevant software for maximum effectiveness. You will have to analyze which features will align with the business objectives and choose the right one. If you are wondering how will you select the right one, then do not worry! We are making this simpler for you by listing down some of the common features that real estate owners looking for in software are:
1. 24/7 access to information:
It is one of the most important features of the software but is also the most neglected one. Property management needs a lot of flexibility, and it is necessary to have access to information at any time, from anywhere, and on any device. You need only a web browser or an app to access the information. No additional software or hardware implementation is required. It saves a lot of money and helps in providing real-time updates to the tenants.
2. Better marketing of property online:
The system must have a user-friendly interface that provides the tenants and real estate customer with adequate information of every available property. Majority of the software also provides the facility to post about the property on various listed sites. With just a single click of the mouse, you can advertise your property on online sites. Once the vacancy is filled, you can take down the listing and store all the rental information on a database for future reference. You can list the property again when it becomes vacant.
3. Better communication with the tenants:
Communication with the tenants is a very important aspect of property management. Apart from that, the tenants can use it for other purposes like lodging complain, request maintenance. These services improve your brand’s reputation and help in providing better services to the tenant.
4. Automatic software repairs and update:
By implementing real estate management software, your company will no longer have to follow-up with people to update the software. It is advantageous as the software is always up to date and provides everybody with the most user-friendly and secure experience. Also after updating, the software provides new features to the users to improve the experience. In addition to this, the updates don’t add up to any additional cost to the owners.
5. Secure data and recovery of lost data:
A good real estate management software will have an additional feature of recovering lost data in case of emergencies. In case of a disaster, the real estate management software should be able to retrieve lost data from other unaffected servers. In addition to data recovery, the real estate management software should also be secure enough to keep the critical user data, credentials and identity secure. Antivirus and anti-hacking software must be integrated into the system to ensure that it is protected from virus, malware, and hack attacks.
6. Better flexibility:
Real estate industry is a highly volatile industry. Hence, it is important that the real estate management software is flexible and scalable as per the needs of the business. The real estate management software should be able to support and maintain a large number of properties. A business may grow or may also downsize according to the situation. The system should be flexible enough to scale itself to ensure that it does not malfunction when the demand increases or decreases. This scalability can be achieved by providing a large and expandable database.
7. Cross-platform support:
With the proliferation of smart handheld devices, you do not have to carry your laptop or access your desktop everywhere. Your real estate management software vendor should hence be compatible with multiple platforms such as tablets and smart devices to provide you information at any time and from any location. It will make the whole system more portable and the monitoring will be more convenient than it was before.
Apart from the aforementioned ones, you must also look for features such as financial management, marketing management, in a commercial real estate management software to help you manage your business better.