What is Cloud-Based Property Management Software?

Posted by Alphaletz on 21st June 2021 -

Cloud-based property management software is software that has been designed for the sole purpose of managing properties. It helps the people who need to track leases, residents and maintenance tasks do so without all the hassle. It provides one place where this can all be done, rather than attempting to do this in separate software applications. 

Another use for cloud-based property management software is managing finances. This includes doing things such as reconciling rent, in order to keep on top of tenant payments. Essentially, this type of software allows people to streamline their operations. Cloud-based property management software such as this is offered by companies such as Alphaletz. 

In short, some of the main features of this type of software include:

• A property overview portal
• Accounting
• Tenant and lease tracking
• Building maintenance and repairs
• Budgeting and reporting

Features In More Detail

Finances

Allows you to manage the rent payments and accounts payable. Many software systems will also help with bank reconciliation and generating financial reports. This can be a huge help to landlords and real estate professionals as they no longer have to hire a specialist to generate these reports, or do them themselves. 

Tenant And Lease Tracking

The entire leasing process can be long and complex. This software assists with the whole process from start to finish, including capturing the tenant details, employment information, guarantors, utility payment collections if applicable and move-in and move-out management. It simplifies the entire process for the user, ensuring that everything is managed and precise. 

Budgeting And Forecasting

Budgeting and forecasting is essential when you are a landlord or real estate professional. You can use this type of software to develop accurate operating budgets and reports. You can also use it to forecast future costs and values, while accounting for all income and expenses for easier tax returns.
Building Maintenance

When a tenant reports a maintenance problem or repair work orders are submitted, depending on how many properties are being managed at any given time, things can get a little chaotic. As such, you can submit and track everything using a task management system built right into the system. All of this information will then be in one place, allowing you to find what you are looking for without a problem.

Property Overview Portal

Being able to see all your properties at a glance can make things very easy for any landlord to stay updated and optimise their rental property business. Ideally, a system that shows all the most important information in a dashboard view with information such as income and expenses, rent arrears, occupancy rates, cashflow and upcoming tasks will significantly reduce the time needed for landlords to manage their properties and optimize their costs.

Who Needs It?

The main people who will benefit from this type of software are landlords and real estate professionals. These are the people who need to manage the properties that they own or represent.

What Are The Benefits?

The main benefit of using this kind of software is that it makes everything that little bit easier for those who are managing properties. Rather than having all of the information they need located in different places, it is all conveniently laid out for the best results. 

It is also a cost-effective option, helping you to keep the costs of managing properties down.