An apartment management system is a system or software that facilitates property managers’ daily tasks by providing online solutions for managing them. Such solutions allow managing properties or apartments, collecting rent, gathering tenant information, as well as monitoring important KPIs during rentals. In order to facilitate the professional lives of property managers, the apartment management system aims at offering the entire process in a digital format. For example, leasing e-contracts substitute tangible leasing contracts, and online payments through the platform substitute traditional methods of payments. Not only that, but such software also provides a communication medium that simplifies the communication between a property manager and a tenant. This feature is especially helpful since some property managers struggle to get in contact with their tenants or schedule rent collection.
This article covers the important aspects every property manager should know when it comes to apartment management systems. The first topic covered will be about the necessary features to look out for in an apartment management system. The second topic will provide property managers with tips on managing apartments.
Features That Facilitate Apartment Management
An apartment management system offers easy ways to ensure that the property manager’s properties, or apartments in this case, are well managed and taken care of. In order to do that, such a system needs to have essential features that every property manager should look out for.
- Move In/Move Out Inspections
This feature is essential to certify that the apartment is qualified for renting and a viable place to live. Even though property managers tend to make sure that their tenants are qualified for leasing, they are still unsure of what happens during rentals. Therefore, to make sure that the apartment is still a proper space to rent, property managers need to carry out inspections upon moving ins and moving outs of the tenants. With the development of online property management solutions, this feature is now digitalized as well. Offered under the apartment management system tools, move-in/move out inspections will further help property managers manage their apartments, and establish a reputation for renting such well-managed apartments.
- Maintenance and Issue Reporting
Being a property manager means never knowing when a tenant will call you to report an issue in the rented apartment and require maintenance. However, using an apartment management system will eliminate this suddenly emerging task. Using such a system will enable your tenants to report issues through the platform and will have a maintenance crew sent their way. As a property manager, you can receive progress updates and track the progress of maintenance tasks. Therefore, when looking for an apartment management system, make sure that it offers a maintenance management and issue reporting capability.
- Property Dashboard
In order to make sure that the rented apartment is being well-managed, every property manager needs to have a visual representation that signifies and helps monitor key metrics. A property dashboard feature will provide property managers with an overview of all key metrics and KPIs. For instance, on the dashboard, property managers will be able to see their vacant and occupied units. They can also see any upcoming important dates, such as leases’ starting and ending dates, as well as inspection and maintenance dates.
One of the best ways to manage apartments is by ensuring that they are always clean. However, cleaning services can sometimes be expensive, especially to property managers that aim at regularly cleaning their apartments. Having a cleaning feature within the apartment management system will relieve property managers of such duties and fees. Depending on the agreement between the property manager and the tenant, both parties can benefit from such a feature. Therefore, a clean apartment is a physically well-managed apartment.
3 Tips for Using an Apartment Management System
If a property manager is just now getting into the digital realm of property management, offering some guidance will ensure they are on the right path and utilizing the most of property management systems. The term “property management system” is a broad term, as it covers several markets and features. The main focus in this article is apartment management. Here are 3 tips for apartment managers to benefit from:
- Secure Your Apartment
Every property manager is subjected to risky events when it comes to their apartment. Such events could result in financial loss, damages to the apartment or legal allegations. Due to such events, an apartment manager strongly advised to issue property insurance to protect himself/herself from any event that may result from renting the apartment. Sometimes, apartment managers have to deal with natural events that may physically damage their property. At other times, the apartment manager and the tenant can fall into a legal dispute regarding the rented apartment. In order to make sure that the apartment manager can easily resolve such issues, they should ensure that the apartment management system can easily integrate the property insurance into the software.
- Resolve Resident Complaints
One of the most notable advantages about an apartment management system is the communication channel it offers between the apartment manager and the tenant. The chances of having to deal with residential complaints, as an apartment manager, are very high. However, how fast these complaints are resolved is the key factor to consider. Therefore, with the communication channel and the issue reporting features offered in the apartment management system, the apartment manager will now be able to effectively and efficiently resolve any complaints.
- Make Your Apartment Desirable
The best property management systems are those that offer a marketplace listing for your property. An apartment manager will be able to list his/her apartment on the platform. However, in order to make sure that the right tenant is attracted to the apartment, it is important to make sure that the apartment looks desirable. In order to achieve that, apartment managers can benefit from complementary features, such as those listed above, to properly manage and maintain their apartment.
Why is RAY a Great Apartment Management System?
RAY is an all-in-one apartment management system that digitizes and facilitates processes related to apartment and tenant management. Not only does RAY contain all of the previously mentioned features that are essential to any apartment management system, but it also contains more features that make it one of the leading systems out there. Its features cover apartment ad tenant management, operations management, dues and payments, maintenance and services, and much more. All of the features available in RAY complement each other to create an exquisite user experience that truly facilitate the tasks of apartment managers.
Make sure to check out RAY and discover all its apartment, tenant, operations, and services management features in detail. You can sign up for a free trial to experience its power and capabilities for yourself: getray.com.