What is PMS?
A property management system (PMS) is a software application for the property agency to manage their property listing and owner’s information.
The Solution with Property Management System
Property management systems (PMS), also known as property listing system or property agency system are becoming increasingly popular, and agency should consider many useful features of PMS while managing their listing.There are a number of different benefits to using appropriate property management system solutions that you can relate to. A well-designed and tailored software solution can help solve them and make your business more prosperous.
Below is a list of 5 examples of problems that property management system could solve.
Managing Listing in Excel is Time Consuming
Property listing management in excel spreadsheet is a difficult process that consumes a lot of time and other resources in data key in and data updating. Managing the listing in spreadsheet / excel also increases the overhead.
- Access and Control of Data
When situations are urgent, time is of the essence. Don’t waste money or hunt for documents and copy data when you need it most. Data is more transparent and stored in a place where it can be found and used much more efficiently over time, and you can keep track of the flow of investments. With integrated administration and accounting systems, you can store all your data in one place and have full control over it and your agent just need to login to the system online to retrieve all the information.
- Missing Key Dates
It’s not easy to manage a calendar manually and stick to past dates when there are many properties to maintain. When is the expiration date of the lease, when do tenants pay rent and what are the dates for necessary maintenance work? When sellers miss a date, many different problems can arise. Automated daily reminders are useful as, for example, missing out on the opportunity to fix problems before they become emergencies if you skip servicing a property. Some software solutions offer you a communication platform for tenants and landlords. Connecting external service providers to this system helps you manage maintenance and repairs without wasting time.
- Communication Breakdown
The most common cause of frustration among tenants and sellers is lack of up-to-date contact with a property manager. Missed calls and unanswered emails can annoy anyone. As a property manager, you need to be available at all times to provide answers and make the necessary decisions. However, this is not easy with your tenants. For example, if they need to talk to you about a serious maintenance problem, they can always do so. Due to this you can provide best service to tenants. With the property management system, your communication can be smooth and seamless.
Your software solution should have a landlord and tenant portal to record repair or maintenance needs or other requirements. You can also add a call center option to schedule calls with external tenants or companies and to simplify all communication processes. There are many problems. By adopting a property management system, your business can gain more market share, save time and money, and improve overall performance. You can get something even more important – happy, loyal customers who can be sure that all problems will be resolved honestly and quickly.
Benefits Of PMS Compared To Excel
In the case of Excel, changing the monthly rent of a unit can cause you to edit several files and sheets, but using property management system, any change you make is applied across the whole platform, so you can quickly move to the next task.
In the case of Excel, for making a payment, you have to go to the bank for payment every month that causes problems for you. By property management system, you can easily make online payments in no time.
Keeping data safe, working with a team, managing properties on the go and communications are too hard in excel. But property management system makes your data secure, helps you in working with a team, finding information, creating a unit list, and many other features. It ables to set-up different roles while working in a team as admin panel, agent panel and clerk panel, etc.
We concluded that property management system (PMS) helps you manage your project effectively and enable you to solve problems more quickly. PMS reduces the risks of project failure and increases customer satisfaction over the project. To conclude, property management system is must for any business manager who is looking for ways to make life easy.