Having the help of specialized software programs can make commercial property management easier. If you are looking for a software program to assist you with your property management tasks, it's important that you invest in a program that will address the unique needs associated with managing commercial properties.
Here are three features you should be looking for as you shop for property management software to ensure that the program you purchase will be able to assist you on a daily basis.
1. Integrated Accounting Features
Maintaining an accurate record of the rent payments you receive and the money paid out to maintenance vendors is essential when it comes to determining the profitability of a commercial unit. To make your property accountant duties simpler, look for a software program that offers integrated accounting features.
Having the option to link your bank account directly to the software program can make balancing your accounts easier. It can also be beneficial to invest in a software program that will allow you to manage the accounting for your entire portfolio of properties as a whole, as well as maintaining separate accounts for each individual property so that you can accurately evaluate the financial health of the commercial units you manage.
2. Report Generation
Access to up-to-date information is essential when it comes to managing commercial real estate. As you look to invest in a property management software program, be sure that you purchase a program that offers the ability generate reports easily.
Since many commercial property management companies manage properties on behalf of investors, you will likely need to report to the investors who own the properties you manage on a regular basis. Being able to generate reports like profit and loss statements, vacancies, financial overviews, and expenses will allow you to more effectively communicate with investors in the future.
3. Intuitive Interface
You want your employees to be able to easily navigate your commercial property management software, so it's essential that you look for a program that provides an intuitive interface. Rather than relying on complicated coding to access information, your software program should feature a point-and-click interface instead.
This type of interface allows users to use a mouse to access information by clicking on an on-screen icon. Since most people are familiar with point-and-click interfaces, you can reduce the amount of time required to train your employees by investing in a property management software with this type of intuitive interface.
Having access to a reliable commercial property management software program allows you to better manage your properties. Be sure to find a program that features integrated accounting, report generation, and an intuitive interface to maximize the benefits property management software can provide to your company.