Property management software explained
What is property management software?
The use of software to help manage properties is increasing in popularity and importance, with new online options available enabling users to access their data freely. Property management software enables property managers to manage their business of maintaining a portfolio of properties on behalf of their owners.
There are two types of property management software, installed software (where you need to install the program on your computer) and online software (no installation, just log into the program from a web browser). Online software is fast becoming the preferred choice, with it being cheaper, easier to use and accessible on any device with an internet connection.
Typically the most important feature of property management software is the ability to track and record all of your trust account transactions. Other features include automated communication between your tenants, owners and suppliers, reminders to alert various arrears notices and report generation for transactions.