The role of an estate agent often involves juggling several tasks at any one time. Handling business operations, such as tracking and collecting rent, managing maintenance requests, etc. manually can become extremely time-consuming and stressful – and this is only a fraction of your workload!
That’s why so many property businesses are turning to innovative and modern property management software to lighten the load. If you’re looking for a comprehensive solution to your property management struggles, keep reading, this blog details the top 8 benefits of using property management software.
What is property management software
Property management (PM) software is a CRM (Customer Relationship Management) system that allows letting agents and property managers to handle their day-to-day tasks relating to properties and accounting with ease. A PM system enables the automation of mundane administrative operations, improving the efficiency and accuracy of letting agencies.
The best way to understand what property management software can do for you is to see it in action.
Key advantages of using property management software
The benefits of using property management software are vast and the features you are most drawn to will depend on your requirements as a letting agent. That being said, here’s how you could benefit from using property management software.
1. Tackle less admin
The benefits of using property management software are vast and the features you are most drawn to will depend on your requirements as a letting agent. That being said, here’s how you could benefit from using property management software.
2. Save time and resources
Being able to manage all aspects of your property management in one place will simplify your daily routine and make life easier for all involved.
3. Protect your clients and ensure they are compliant
The best property management software systems will have the capability to offer accounting within them. A PM accounting system will allow you to handle your accounts using your CRM software, while remaining compliant with the latest legislations and Client Money Protection (CMP) schemes. Not only does this protect your letting agency, but it also ensures that your clients are protected.
Property management accounting can be difficult and complex with increasing accounting legislation like Client Money Protection, but your CRM software will help you get it done accurately and securely.
Compliance has also become a bigger and more pressing issue for property managers over the last 25 years. Having the right property management software means that you don’t have to worry about licenses or certificates expiring without you noticing it.
4. Spend less time chasing payments
Late payments take up time and cause friction between landlords, letting agents and tenants. But by automating many of the rent collection processes like rent demands and reminders, your PM solution can take much of the heavy lifting of rent collection off your hands, leaving you with fewer payments to chase yourself.
5. Improve your communication
Letting agents, particularly those with larger portfolios, often find it difficult to manage their high standards of communication with clients. Fortunately, this is easily resolved with a property management system.
In your CRM, you are able to safely store contact details and manage communication for all relevant parties – including landlords, tenants and contractors – so you will always be able to communicate with the right contacts at the right time with ease.
6. Manage maintenance requests without hassle
Dezrez PM has built-in maintenance management capabilities, which means that you can create and manage individual maintenance jobs, assign contractors (as their contact details can be stored in the system), and raise invoices. The urgency of maintenance work can be recorded, as well as regular updates on the progression status of the items.
7. Simplified expense management
Managing property-related expenses can be daunting but with Dezrez, you can use Open Banking to track expenses automatically. Property managers can easily monitor maintenance costs, utility payments, and other expenditures, ensuring that everything is accounted for and within budget. This level of organisation not only saves time but also enhances financial transparency.
8. Easily view a property's licenses and certificates
With Dezrez, letting agents are able to view and record certificates and licences, utilities and even meter readings. There are many licences and certificates to stay on top of as a letting agency, which is why they are able to view and document within the software itself. The licences and certificates available include Gas Safety, HMO and EPC.
Dezrez - The future of property management software
If you want to know more about PM, read our full guide to online property management software.
