Why do I need management software for my private rental property?

Private Rental October 21st, 2019
Why do I need management software for my private rental property?

In an increasingly paperless world, the need for a property management software couldn’t be greater. Processes have moved away from being on paper as property managers, landlords, tenants and even contracts shift away from traditional methods.

The transition includes moving on from excel sheets and home-built DIY management processes to online software’s that are up to 2019 standards.The private rental market is extremely dynamic, made significantly harder to manage when fighting an uphill battle with obsolete management processes, emphasising the need for a management software. Software’s come at a relatively inexpensive cost in relation to the value gained from utilising it’s features. They also cater for a range of digitally able property managers. Whether you are newbie to software’s or a tech-whiz, capable software’s bridge the information gaps that come with the typical management of properties.

 

Time saving is of paramount importance for property managers:

Automation has arrived! Gone are the days of working around a software, modern management software’s work around you. Automated messages and actions allow the system to work hard in the background, whilst you concentrate on attracting new tenants. This emphasis on working towards new tenants rather chasing up on current tenants acts a catalyst to encourage forward thinking growth to portfolios.

Administration processes are sped up with good practise by every step in the tenancy journey being taken online. Management software’s have engulfed the signing for contracts and documents, with the relevant fields populating automatically without the need to tirelessly fill out these fields manually. This time saving feature intertwines with digital signatures to documents, revolutionising the way business is done.

 

Organisation is mastered via working on a management software:

The steps required in onboarding a tenant start within the software. Applicants can be added manually, or their information can be pulled from applicant forms being completed elsewhere. The matching of applicants with available units is simplified, whether it’s organising viewings or approving them into an approved tenant who is waiting for their move in date.

Financials are centralised with a management software, working in tandem with a financial hub (like Xero / QuickBooks) to master the once complicated balancing act between managing your properties and managing your finances. This ensures your private rental tenants’ payments are water-tight with your bookkeeping. The central approach is key in maintaining a healthy cash flow by staying on top of rent payment. With the option of rent reminders being sent out on your behalf, it allows you to sit back and focus on the bigger picture.

Managing one’s tasks effectively means communication and delegation can be streamlined. Whether you are a self-managing landlord or a property manager, tasks being on a management system changes the game when it comes to communication. Tasks can be clearly displayed to each person or seamlessly delegated to a contractor if work needs to be carried out around surrounding a task.

 

Try your hand at Arthur!

All in all, management software’s like Arthur are becoming increasingly essential as time goes on. Technological advancements with apps have allowed property managers and their stakeholders to communicate and interact with each other around the clock, 24/7. If you are ready to take the next steps in developing your property management ability, sign up for 30 day free trial with Arthur: https://system.arthuronline.co.uk/login

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