Property management is a complex job with many moving parts. In the past, this meant handling lots of separate physical documents and trying to juggle countless, frequently-changing details manually in spreadsheets. Today, though, technology gives us better, more efficient options. To stay organized and keep track of everything, it’s beneficial to use tools like cloud-based property management software. If you want to improve your business, the time to invest in property management software is now! Here’s what you need to know about property management software for 2025.
What is Property Management Software?
What exactly is property management software, and how can it help? Property management programs are solutions that provide a wide variety of services all in one convenient location, including:
- Accounting
- Data storage and analysis
- Tenant communications
- Maintenance management tools
- Payment portals
- Document storage
Having all of these features in one location makes it easy for tenants, property managers, and owners to find and use the information they need easily, from details of a lease to profitability metrics. These programs are also designed specifically for property management, meaning you can avoid the hassle of customizing massive, disorganized spreadsheets for all your information tracking needs. Instead, they provide systems and templates built for property-related tasks, streamlining your workload. Some programs like STRATAFOLIO even integrate with QuickBooks Desktop and Online so you don’t have to move or duplicate all your financial details.
Cloud-Based Software Is Accessible from Anywhere
Instead of always needing to be at your desktop to access your property management documents, you can access your documents and software from your phone or laptop. Most property management software saves its data in the cloud, so it can be accessed from anywhere and on any of your devices.
Investing in Software Automates Tedious Tasks
Property management software can automate several tasks to save you time every day. Instead of spending hours managing your properties and finances, you can let the software do much of the work for you! You can complete tasks such as common area maintenance (CAM) reconciliation in just one click without having to do the process manually. Automating these tasks will cut down on data entry errors. This will save you time and money.
Reminders for Tasks and Maintenance
Property management software can keep track of important dates, tasks, and scheduled maintenance times and send you automatic reminders when they approach. You won’t have to worry about missing a lease renewal date, annual maintenance, or rent payments. These notifications will allow you to have an open line of communication with your tenants and vendors. You can easily plan out your calendar and make sure events do not conflict with each other. They will also ensure you don’t miss crucial growth opportunities such as lease escalations each year. Learn more about available alert settings in our Knowledge Base article.
Problem-Solving for Tenants
When a tenant is having an issue with their apartment or home, they want to resolve it as quickly as possible. As the property owner or manager, it’s also in your best interest to repair things as quickly as possible. Property management software can help by offering:
- Emails or messages between the property manager and tenant
- Access to their leases and other documents
- Easy online rent payment portal and viewing past payments
- Tracking of maintenance issues
This software helps build a positive relationship between tenants and property managers by making it easier to communicate with one another and for tenants to find important information. You can read even more benefits in this recent blog.
Organized Accounting and Property Data
Property management software is helpful for tracking finances and information about each property. Transactions, repairs, bank statements, and bills can be monitored with this software to ensure that you make and receive payments on time. This will help when managing invoices or recalling transactions.
These systems will help track trends in tenant payments, property conditions, and the profit being made from your properties. The ability to see trends in tenant payments will let you know if the tenant is consistently paying late or on time. This data can also help you catch potential problems early and to make strong, informed decisions for the future such as rent adjustments, better CAM estimations, and more. Finally, being able to easily access and share this information with others allows you to easily demonstrate the profitability of your portfolio to potential investors and lenders.
Improve Your Workflows with STRATAFOLIO
STRATAFOLIO is a program designed with commercial property management in mind. Our cloud-based, QuickBooks-integrated software makes property management easy and hassle-free. From CAM reconciliation to work orders, STRATAFOLIO offers automations, alerts, and assistive tools to keep you ahead of the game. If you want to learn more about how we can help you with all of your commercial real estate needs, schedule a 1:1 demo with us today!
