8 Keys to the Health of Your Property Management System [eBook]
The market demand for rental properties is growing and changing fast. In order to compete, your business needs to be in the best shape possible. A whole business approach is required to stay ahead of the game in an ever-changing, highly competitive market. RealPage’s fully-integrated property management software offers a holistic focus, assessing the needs and performance of each key segment of operations.
Here are the 8 keys that are essential to the health of your property management system:
1. Accounting: Does your current accounting system give you the ability to process 1,000s of checks at the same time from multiple banks? Does it simplify the accounting process, improve the process of importing bank files, and allow you to quickly identify budget variances? RealPage’s integrated accounting software allows for scalability and movement away from inflexible spreadsheets, increasing productivity and functionality within your accounting staff.
2. Facilities: Is your property in peak condition and prepared for repairs and accidents at a moment’s notice? An integrated platform allows you to create checklists that can be easily customized to quickly create and respond to work orders in the field. It also includes photo and notes tools to accurately document work completion and condition of facilities. Mobilization and customization features are designed to accommodate your maintenance staff, not hinder them.
3. Payments: Almost everything can be done online today, and tenants expect that level of technological capability from a property. With that demand growing, it’s necessary to have an integrated, flexible payment system that can quickly accommodate online and in office payments. RealPage’s payment solution can be tailored to accept payments of all types. Increase your staff’s productivity by automating routine tasks and decreasing trips to the bank.
4. Budgeting: Not all multifamily properties function alike. It is imperative to have budgeting software that can adapt to your specific market type. RealPage’s budgeting software can account for expenses and other factors unique to a particular market, and automatically distribute budgets to the appropriate personnel. RealPage’s budgeting software system also streamlines the data import process and is flexible, all while letting you view real-time detailed information, and spot problems. It also provides forecasting functionality for more accurate forecast results.
5. Document management: Standardized documentation, automated organization settings, secure storage and disaster recovery practices, are included in RealPage’s document management software. If you’re still using paper, you’re putting your property and your clients at risk. The document management software provided by RealPage is virtually paperless and also includes an electronic signature solution, eliminating the need for costly paper expenses and allowing residents the technological freedom they demand.
6. Property management system: Property ownership is not a compartmentalized business. A comprehensive property management system means you have access to all aspects of your property at all times. RealPage software is scalable and grows as your business grows. This enables you to maintain security and stability to achieve year-over-year growth.
7. Purchasing: Finding the right vendors can be a challenging process without the right spending management tools. That’s where RealPage purchasing software sets the standard. It incorporates spend management tools customized for your property. RealPage software automates approval workflows, saves time with electronic invoicing and standardizes vendors and products to help control spending.
8. Reporting: Accuracy, timeliness, and reliability are all things that should not be questioned with reports. With RealPage’s three-tier database architecture, you’ll never have to worry if your data is skewed. RealPage reports provide centralized and real-time information that provide full visibility into your business operations.
The health of your business depends on taking care of the whole business. With one holistic-focused integrated solution, you can save time, reduce errors, provide more accurate information and save money. Each piece of the puzzle must be easily accessible, easily integrated, and customizable for your rental properties specific needs, to ensure you make maximum profit.
Interested in learning more? Download the full eBook.