Articles

Technology Benefits from Rental Property Management Software

by Johnathan Hegg Freelance writer

Before management software became the norm, the property management business was considered the realm of the truly resolute. The industry was not for the faint-hearted. The requirements to succeed were very exacting. One needed a sharp head to keep accounting numbers straight, a strong positive spirit to work with a variety of personalities, from tenants, service providers, employees and owners, and an active enjoyment of multitasking between showing rentals to prospective tenants, dealing with evictions, property maintenance and staying well versed with the latest legislation and laws. The wide range of rental property management software have become tremendously popular in the property management sector because they have brought in simplicity and efficiency to the business and freed up property managers to focus on the core driving force of their business, the people.

Change through OPMS

It was with the coming of the Online Property Management Software (OPMS) that things really changed and prices decreased. The software was now online and came with technical assistance via telephone and videos and the internet. The product cost could be paid as a monthly payment and the contract drawn up to suit individual businesses. There was no need any more to spend money on updating hardware. Many contracts also contain a termination upon non-performance clause. Upgrades were done on the server.

Popularity and Utility

Rental property management software became popular due to the value addition it made to the sector. It helped streamline maintenance processes and automated tracking of rental income and expenses. A single software system could handle a mix of condo, single, family homes and commercial properties too. As the needs of the business grew there were additional modules for online rent payment, work order and taxation available for additional cost.

Additional advantages in buying management software include:

  • All the company data stays secure. It is saved and encrypted.
  • Software helps control costs through its debt control and reporting facility that helps increase rent and service charge returns.
  • The upgrades are done on the remote server without impacting work. The system can be accessed through most mobile and internet devices.
  • Reduces risk as the software keeps in tune with changes in legislation
  • Rental application can be filled online, rent can be paid online, and background checks can be conducted through the appropriate agency.
  • Tracks transactions and payments and reduces time wasted in making notes.
  • Helps prioritize work assignments, and requests that require immediate attention.
  • Helps keep close watch over the financial health of the portfolio, helps in tax calculation and view current revenue and estimate future cash flow.
  • Preloaded legal forms save time and money.


The software is a tremendous help in organizing businesses. It helps save time and helps retain tenants which makes owners happy. The leasing process is more standardized because of it. Tenant screening can help in running background checks for non-payment of rent, criminal activities and income. The utility metering feature calculates consumption of metered utilities. The space tracking helps configuration of available space for move-ins and move-outs.

Thus rental property management software plays a vital role in client and tenant relationships too.

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About Johnathan Hegg Innovator   Freelance writer

13 connections, 0 recommendations, 61 honor points.
Joined APSense since, June 24th, 2013, From Cardiff, United Kingdom.

Created on Dec 31st 1969 18:00. Viewed 0 times.

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