Top Questions Answered: A Comprehensive FAQ on Property Management

Introduction 

The property management business in the United States has a market size of $109.9 billion. With so much money flowing in real estate, it's no surprise that many software companies have sprung up to help investors, property managers, and landlords to stay organized. But how do you choose the best property management software for you?

Rental management software helps property managers, but it is essential to choose the correct option, or you will end up complexing your processes. A good property management app can help you find, screen, and manage tenants, handle their requests for repairs, and keep track of all the costs and income that comes with that, which is essential for tax time.

If you're considering switching to property management software, then you must prioritize certain things. In the next part, we'll talk about them in more depth.

Getting new software for the property management business

At first, the cost of a property management app may turn off many businesses. However, the initial investment can be made back by solving problems that can't be solved with manual processes. Also, if you want to scale your business, you need to automate mundane tasks with the help of technology so that you have more time to focus on the core areas of your property management business. 

Here are three reasons why you might want to consider custom software development: 

1. Spreadsheets can be frustrating

Spreadsheets are a great help as they can help you manage customer and property data, but you cannot access them on the phone. At the same time, they do not have various functionalities like notifications, lease renewals, image capturing and more. Also, using multiple apps for all of this can be frustrating. Instead, incorporating a property management app is a better idea. 

2.  Whatsapp is great. But is it?

Whatsapp is an excellent communication tool; even clients will respond to it quickly. The notifications are also straightforward. But, when it comes to professional communication, it is not a sustainable solution as it doesn't allow you to structure and organize your data.

It is difficult to identify areas of improvement and potential growth without proper data. Whatsapp is merely a messaging tool. Its functionality cannot help businesses. Instead, property management software can help you to track, report and analyze data. 

3. Using an outdated software

Property management software should enable you to finish tasks quickly. It should have straightforward processes that help your employees to perform better. 

If your team finds your current software challenging to use, then it's time to switch. A few signs of the same are when your team finds it hard to look for data in the software, the reports are not updated regularly, and the features are not customizable based on your processes. 

Choosing property management software is confusing as there are many options in the market, and sometimes small businesses haven't decided on their priorities. So, we've put together a list of Frequently Asked Questions (FAQs) that will help you decide whether or not to switch your current software. It will also help you understand whether you should start using a property management app if you aren't already. 

FAQs about property management software

We've divided the Frequently Asked Questions (FAQs) into five parts: starter's guide, functionality, connectivity, integration, and no-code.

These FAQs are not directed to our no-code tool. They are general questions that will help you to choose the right property management software. 

Starter's Guide FAQs

1. Why should I find software that aligns with my property management business?

The right software for property management will save you both time and money and give you a place to grow. With the help of a skilled development team, you can improve your business's bottom line and streamline its operations, making room for more digitalization and better growth. Also, software that understands real estate will offer features like lease renewals, maintenance contracts and more which will help you customize your processes efficiently. 

2. What is the best way to find software made just for you?

• Be clear about what you want the software to do.

• Find out what your business needs. For example, you need listings on the property management app with photos of your tenants. So, you will need functionality for that on the app.

• List your priorities and budget.

• Put quality first.

• Create a list of software available in the market.

• Check which ones give features that you require and are in your budget.

• Shortlist a few and take a free trial or demo to see if they are user friendly

• Based on all the parameters, decide on the best suits your needs.

3. How can I tell if the software works well on mobile devices?

Check out how easy a page or app is for visitors to use on a mobile device. Download the property management app on your phone and use it for a bit, and then you can decide for yourself. Alternatively, you can even read reviews that help you determine whether it is mobile-friendly. 

4. Why is it important for my staff to have a mobile app?

It makes business processes faster and allows employees to finish work anywhere. At the same time, your field service staff that takes care of the property visits, maintenance and service can quickly click photos and send them to you from the site. You can keep track of their activities and also be in touch with them through video meetings. 

5. Should my property management software work without an internet connection?

Offline property management apps ensure you can access essential data and documents whenever and wherever you want. 

6. How important is it to keep track of my employees' information and feedback?

Employee data is essential because it tells your company what your workers think, which can help you make better decisions, get more work done, and keep people from leaving.

7. What is an app that is "mobile-friendly"?

A website is "mobile-friendly" if it looks similar on your desktop, laptop, phone, or tablet. At the same time, a mobile-friendly app is a tool you can download from your Apple or Android Play Store. It allows you to access all the features of your property management software through the phone.  

FAQs about Functionality 

1. Why is it essential for me to give my employees apps to use?

An employee portal helps improve the experience of employees. It allows them to deliver work efficiently. You can use property management software for internal communications, collaboration, messaging tools, and a place to find important customer information. At the same time, you can track your employees' activities and check the assigned tasks. 

2. Why are Employee Notifications important?

Use push notifications to make quick announcements and share news about your company.

Forums, chats, and polls are all ways to get employees to talk to each other. Also, you can keep them updated on the latest clients and their processes.

3. What are the advantages of property management software that has features to keep track of employees?

It allows you to:

• Keep track of workload management and assign tasks to employees accordingly.

• Maintain better accuracy and more efficiency among employees.

• Cut down on human mistakes.

• More work gets done.

• Get quicker updates on follow-up tasks.

4. Are there features that help me to keep track of my employees?

Property management software has employee management and job management features. You can use the software with a project management feature to create projects and tasks for your employees. Assign the tasks to them and give them deadlines. Also, follow up via the app on the tasks, as that will help you track how many days a particular employee takes to finish a job. 

5. Do I need lease management in my software?

Yes, it is an essential feature for a property management business. It will help you store leases and even send renewals to landlords and tenants when their contracts are due. 

6. How to prepare quotes for clients?

You need a quotes and invoice feature which allows you to create quotes and send rent invoices to the clients. These features will enable you to take quote approvals from clients and follow up with them if they haven't replied.

7. Do I need all the features that property management software offers?

It entirely depends on the stage of your business. If you are just starting, you might need basic features like mobile-friendly, offline access, payments and client bookings through the website or social media. You might also need employee management features if you are a small business with a team of 5-6 employees. 

FAQs about the Tool

1. Will using a property management app make my business more efficient?

Yes, it will make your business more efficient as you can:

• Plan projects, make proposals ahead of time, and keep track of your property listings.

• Get a clear picture of the jobs and technicians in the field immediately.

• Plan more jobs and make the way jobs are assigned out more automatic.

2. How essential is property management software for business?

Property management software automates mundane tasks like assigning jobs to employees. It can also make client communication easier by showing them listing via the app. Once they approve a few properties, you can take them for site visits. You can even send quotes and collect payments through the app, saving you a lot of time. 

3. What is the best property management software?

Entrata, AppFolio, Yardi Breeze, Innago, Buildium, Avail, Yardi Voyager, Guesty and Utilize are some of the property management tools you should explore. 

4. How does property management software help me manage tasks?

It has various tools and dashboards that allow you to manage client appointments, assign tasks to employees and keep a check on your schedule. The best part is that everything is under one software which gives you a unified view of your to-do lists and enables you to manage tasks efficiently. 

5. How much should I spend on my property management software?

It entirely depends on your team size, business goals, processes and budget. If you have just started, you can take software that offers only basic features. Also, you might need a few high-end features if you are looking to scale your business, and you should plan a budget accordingly. 

6. When is the right time to invest in software?

You should adopt software if you have been running your property management business for more than six months. Once you digitize your processes, you can scale your business with the help of the software. Although, the number can vary based on your business goals and budget availability. 

Questions about App Integrations

1. What is the best way to get clients to pay you online?

Integrate third-party tools like Paypal and Stripe. Look for apps that are compatible with such devices.

2. How do I handle billing and invoicing for my business that manages properties?

You can use Quickbooks or Xero and find a software program that works with either.

3. Do I need a tool like Zendesk for customer service?

Yes, you need a tool like Zendesk, as it allows customers to get in touch with you and give feedback. Customer service is essential in today's market as it will enable you to retain clients. With a tool like Zendesk, you can solve customer queries and cater to their complaints. 

4. Do I need to integrate e-commerce tools like Shopify in my property management app?

No, you do not need such a tool for your property management software because clients won't directly purchase the property online. There will be negotiations, site visits and more. So, you only need features that allow you to list properties, but such integrations are not valuable to your business.

5. Do I need storage and documentation tools like Dropbox Business and Google Drive?

Yes, they are essential for your property management business. They help you to store important rent agreements, customer documents and leases.

No-code related FAQs

1. How do you use a "no-code" tool to build software?

There are two ways to do this:

• Using a Page Builder lets you quickly build web pages with a drag-and-drop interface to your specifications.

• Using Visual modeling, which replaces complex code with a simple drag-and-drop interface.

2. Why use tools that don't need code?

They have several benefits:

• Changes to no-code apps are easy to make.

• You don't need an expensive technical infrastructure.

• People who don't know coding can also create an app with it

• They are highly customizable

3. Can I migrate data to my no-code tool?

Yes, you can. Utilize is a tool that doesn't require you to write any code and lets you move data from Google Sheets to the software you've just built.

4. Can integrations be used with no-code tools?

No-code tools have their database of pairings or can connect to other databases. So, you can use them with visual interfaces. It also allows you to connect with an external database like Xano, Airtable and Google Sheets.

5. Can I connect QuickBook with a no-code tool?

Yes, you can connect the integration with a no-code tool. However, it depends on the company of the no-code tool. Sometimes, certain companies don't offer this functionality, and you might have to connect to Zapier to use QuickBooks. 

6. Are no-code tools cheaper as compared to FSM software?

It entirely depends on the company, but no-code tools allow you to pay for features you use, while FSM tools usually have fixed types of packages where you have to pay for all the features, regardless of what you use. So, technically no-code tools are cheaper as you can customize your packages based on your needs.

7. What is a no-code tool?

It is a method of programming that does not involve writing code for the users. Instead, it works through Graphic User Interface tools, which offer drag-and-drop capabilities to create desktop and mobile software.

Conclusion

Businesses can use property management software to manage their processes efficiently. There are different software available with various features that work best for certain property managers, types of properties, and sizes of property portfolios.

No-code tools like UTILIZE are helpful to small business owners as they are customizable and don't need a technical team to set up the software. The process of creating your property management software is straightforward with UTILIZE. Check the page to know more.