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While the terms ‘property management’ and ‘software’ may be well known, what exactly is property management software (p.m software) and what purpose does it serve? PM software can actually be quite comprehensive and significant in the lives of property managers, landlords and even tenants! Let’s explore the intricacies and importance of p.m software and the role that it plays in the field of property management.

What exactly is property management software? 

PM software is a system or software application catered to the needs of operations in hotels, or commercial and residential rental properties. P.m software is also used in manufacturing industries and local government.

What purpose does it serve in the field of commercial and residential property management?

These software programs facilitate the management of properties, personal property and equipment. By providing a centralized computer system to organize, schedule and perform the day-to-day functions and transactions, operations and internal systems are greatly improved. This may include maintenance, record keeping, payments, inspections, parcel deliveries, reports, amenity bookings, leasing, documents and more!  To provide for all these needs through a single platform, is a boon to any property manager. Property management systems replace old-fashioned, paper-based methods that tend to be both burdensome and inefficient. Today, next-generation property management companies prefer a software as a service (SaaS) model sustained by web and cloud technologies.

Some proven advantages of employing p.m software include:

1. Daily workflows are automated and administrative tasks and data entry time are decreased by as much as 75%.

2. Automated reminders of tasks, events and appointments ensure that they are not missed or forgotten.

3. Teams and systems are unified.

4.Information becomes more accessible in a secure fashion from any location or device.

6. You can enjoy reliable, in-depth reporting and analytics.

7. Accounting is made easier.

The MyPortal by Payquad Solution:

Provide your property management team and your tenants with solutions by signing up for a free demo today! Payquad is the leading p.m software, offering a myriad of options and solutions to a property manager’s hectic workday, while simplifying the process of filling your tenants’ needs as well!