You often hear about the buying process of a property (tax treatment, financing, etc.), but what about how owners manage their properties once acquired? Unfortunately, property management is often forgotten. Some property owners will use the manual or the paper method, and others will use Microsoft Office (Excel, Word, etc.) or accounting software. However, the most efficient ones will choose residential or commercial property management software.
Here are 7 reasons to convince you to use property management software:
1- The Renting Process
You can use electronic leases that are compliant with the Tribunal administratif du logement. No more paper leases! Moreover, you will have access to your tenants’ information on your phone thanks to the mobile application.
2- Accounting Tailored to Real Estate
The advantage of choosing software like Proprio Expert is that it is tailored to real estate accounting. Thus, you can take on many tasks, such as collecting rents, processing expenses, paying mortgages, refunding deposits, generating financial statements and reports, etc. We use a vocabulary that is simple and adapted to real estate accounting.
3- Repairs and Renovations
You can consult a list of past, current, and future renovations classified by type and in order of priority. You also have access to the stages, the costs, the planned timeline for each repair, and the maintenance reports for your janitors.
4- The Agenda
Keep track of your appointments and reminders, such as mortgage and insurance policy renewals, the shipment of letters and notices, court appearances, or visits of your units. To optimize your time, it is crucial that you know your schedule inside and out.
5- The Tenants’ Demands
You can organize your tenants’ demands (complaints and maintenance requests), so you do not forget anything or anyone. They are your clients after all!
Although no one wants problems, whether it is late payments, property damage, insalubrity, etc., a property manager’s daily life is full of obstacles. Thus, you must be able to keep track of the events that happen in case you need to appear before the Tribunal administratif du logement.
7- Letters and Notices
By having a software that automatically generates filled-in letters with your tenants’ information, your signature, and other variables, you can save so much time! We offer various templates, such as notices of renewal and repossession, and late notices, that are filled out and translated.
In short, with a property management software, you can stay organized by having all your data on hand and in one place. Any owner, whether they have 3 or 1000 units, will benefit from such a tool. It is better to equip yourself early than to find yourself disorganized down the road!
Try Proprio Expert for free, Magex Technologies’s property management software, and you will not regret it!