Essential Features of Property Management Software

5 Essential Features Every Property Management Software Should Have

Are you a property manager? Juggled every time managing your properties? Are you also tired of handling your properties alone? We are aware that manually managing these tasks is difficult and time-consuming. Thus, opting for any software solution is essential to eliminate your worries. Then, let property management software handle everything and release your tension to collect rent, maintenance scheduling, tenant communication, or rental escalation.

However, numerous software are available in the market with unique features catering to address the specific needs of property managers like you. Thus, you must identify your requirements to align their features to make your properties easy to handle and manageable. To align your requirements with the features, you need to know the must-have features in every software for your properties.

So, here we are with the list of the top 5 key features every real-estate software should have.

Rent Collection

The first and primary feature of property software is rent collection. The major concern of every property manager is to collect rent every month from each tenant which might be hectic. Therefore, the software allows you to set up your rent collection in software and get your rental payments on a set date from tenants. It allows you to collect the rent online by sending a notification to the person on a fixed time and date. It provides a portal where they can pay their rent every month without any issues. Moreover, it sends reminders if not paid on a particular date. It helps to save your time as well as money. It also helps you to keep accurate records of the payments and maintain good communication.

Lease Tracking

Another major feature you must not forget about is lease tracking. The lease tracking features allow you to keep the lease agreements and papers in digital form with the help of software. It eliminates the need for physical papers and provides a unified platform where you can keep all your documents related to the lease safely. Not just this, property management software helps you to track the details of urgent or priority leases such as beginning and end date, rental amount, renewal options, security deposit, or any other detail of your owned leases. This feature offers automated notification to you for upcoming expiring leases. This allows you to renew or find a new tenant for the vacant property.

Reporting and Analytics

When you are investing in software, you must expect a report on every aspect of management. Similarly, this feature shows the ability to generate reports whether it is tenant information, property database, daily activity reports, financial reports, and others. It will help you to keep updated with the upcoming requirements by providing accurate information with the created reports. The real-estate software helps to eliminate manual work and automate major tasks to save time as well as money. This time and money can be invested in tracking operations and tracking potential risks to your properties. Nevertheless, the automated work also helps to get reliable data free from human errors.

Maintenance Scheduling

Managing numerous properties can be challenging, leading to potential lapses in regular maintenance. The inability to assist tenants with maintenance scheduling can impact their overall experience negatively. This allows them to experience convenient maintenance experience with property management software. With this software, they can send you a maintenance request with the online portal. You can easily resolve their issues in no time. This quick response helps your renters to enjoy the service and feel happy. And even more, you can track the maintenance request and work-in-progress by streamlining the entire process. This feature helps you to reduce your cost while operating on maintenance as pre-update helps you to plan your work properly. So, while looking for software for your properties, make sure to check for a maintenance scheduling feature.

Monitoring Payment Process

Payment is one of the major factors for property managers. An untangled and easy payment process helps to reduce time wastage and money. Thus, software with the feature of monitoring the payment process helps to maintain your productivity, however, outdated account files or remainder calls may consume your precious time and reduce your productivity to complete other tasks. The monitoring features help you to handle your payment seamlessly. Moreover, manual updates, memorizing dates of rent collection, and other tasks can increase the possibility of mistakes. Thus, PMS software helps you to keep everything online to track and monitor them without any complexity.


Utilizing appropriate property management software for streamlined information sharing and secure data management is crucial for real estate business growth. This not only enhances overall company management but also enables the provision of personalized services to clients.

Embrace the challenge of managing commercial properties with ease in our fast-paced world. Absolute ERP, your ally in commercial property management, introduces real-estate software – a cloud-based application system that simplifies all your tasks. Boost efficiency, stay organized, and bid farewell to manual paperwork during property accounting and renter approval. With Absolute ERP, offer your renters a quality business experience, go paperless, and elevate your commercial property portfolio.

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