What are the Benefits of Property Management Software?

November 10, 2023 Sasha Cancél
Benefits of Property Management Software

Property management can be a very daunting task as it encompasses many day-to-day and ongoing chores that require your constant attention. Technology has evolved significantly over the past few years and so have property management software. As a property manager or owner, you may have come across this term and how it can make your life easier. So what does this software look like and what are the benefits of property management software like ONR? Let’s uncover this term and explore how it can change your life as a property manager.

What is a Property Management Software?

A property management software is a solution to all of your property-management related tasks. It consists of a platform that you can use as a dashboard to keep track of your daily activities and tasks to complete, while automating these operations. From screening to account management to maintenance management, a property management software like ONR has got you covered in all of these aspects. 

Some features of a property management software include

  • Personalized dashboard 
  • Resident screening 
  • Document management 
  • Accounts and financial bookkeeping 
  • Maintenance requests facilitations 
  • Assigning tasks to staff and reviewing their progress
  • Evaluating ROI 
  • And much more

Benefits of Property Management Software 

Now that you have understood what a property management software is, what are the benefits of investing in this type of platform? Let’s break down the 6 reasons why you need a property management platform, like the one offered by ONR.

Financial Tracking 

Any expenses that are deducted and any payments that are added to your account will be automatically reflected in this software. You won’t have to manually update each and every record, which can be a really intimidating task. Plus doing all the calculations by hand will always mean there is a chance of error, so evaluating your profits and ROI is not as accurate. 

Resident Assessment and Onboarding 

Screening your potential residents/owners can be a headache. You have to manually conduct background checks. Property management software can conduct these for you and narrow down your options for potential residents. 

Digital Communication 

With property management software, you can communicate with your residents and staff conveniently. Most property management software, like ONR, have an integrated smartphone app that can be easily installed. This makes it easier for your residents to notify you of any concerns so that you can look into the issue immediately. Plus you can stay in touch with your staff even if you are not available on-site. 

Task Automation 

Compiling a list of your day-to-day tasks then ensuring that they are completed is tedious. This is where property management software comes in handy. All you have to do is update your task sheet regularly. You can keep track of which tasks have been assigned to you, which ones are under process and which ones have been completed. This reduces your administrative burden and allows you to focus on more important chores. 

Property Marketing 

Imagine you are unable to sell your vacant properties for a long period of time. This can cause a significant financial and mental burden on you. Some property management systems incorporate marketing so that as soon as there is a vacancy, the platform can begin marketing your property so that you are able to sell your property within no time.

Now that we have convinced you of some of the benefits of property management software, it is time you start exploring options that suit your needs the best. If you are looking for an all-in-one solution that has a one-time subscription fee valid for a whole year, look no further! ONR has multiple features that simplify your life and keep your mind at ease. Learn more about our packages and features here.