Running a real estate company is not suitable for everyone. Modern challenges require your presence at all times and in all places. A manager has a considerable lot of responsibility for properly managing all of the properties. As a result, property management software solutions are becoming increasingly important. Property management software is a valuable tool that helps businesses to manage their procedures, from financial tracking and reporting to lead production. We specified a list of the 5 must-have property management system features in this article. If you own or work for a real estate industry, you may add all the exact features you want by investing once in your own custom system.

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The features described below will serve as the foundation of your business. They will help you optimize your business and extend your platform to accomplish other duties such as online payments and keeping precise information on your clients and transactions when combined with automation and integration capabilities.

1. Account Management

It takes time to collect rent payments and make accounting entries. Good property management software will offer accounting functions such as accounts payable and receivable tracking, tax filing, and electronic funds transfer.

2. Lease Management

The second most important function of a property manager is lease and contract management. During the leasing process, it is critical to keep track of papers such as rental applications, home insurance policies, and so on.

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3. Maintenance Management

Another essential aspect of property management is maintenance. You should be able to track jobs from beginning to end, from adding images of finished jobs to assigning work to sending messages to your suppliers.

4. Report Management

Reporting is critical in any business, and your property is no exception. A thorough reporting module should be included when selecting a property management system.

5. Cloud Security

Data privacy rules are a priority, and cloud infrastructure is more difficult to breach. Data security is becoming a top priority for many property management organizations, including those that have been hacked.