Action Steps
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Choose online property management software that provide online payment options

Many residential and even some commercial properties are offering an online payment option to renters. These property management solutions are great for collecting payment each and every month, which can save the property owner the cost of employing extra staff and providing payment resources in the long run.

I recommend: Resident Pay from Property Solutions is a management program that offers property owners the ability to collect rent payments through an online portal. A similar program from DIY Real Estate Solutions gives managers the tools to set up rent payments, service requests and marketing options online.

Find facilities management software made specifically for rental facilities

Sports and recreation facilities are usually places in the community where everyone can find something that interests them. But if there are massive scheduling problems and fees that are not paid on time, the facility could suffer loss of revenue. Stay organized with facilities management software designed with your needs in mind.

I recommend: Facility Track is a management program tailored to the needs of a facilities manager. It helps you schedule events, rent equipment, and so much more. Active Communities offers similar software that helps to provide online and offline tools to better manage sports and recreation facilities.

Purchase rental property management software for residential properties

Managing a number of residential properties is much different than managing any type of commercial property. This is because you are dealing with people and not just businesses. To make sure your residential properties are well managed, and provide safe and comfortable housing to your renters, choose software that helps you keep track of the numbers.

I recommend: On Site Property Manager provides a web-based software solution for residential property owners that provides a way to keep track of payments, tax information, and offers a daily data backup. PT Software Solutions provides a software program that can manage residential properties.

Helpful advice for making the most of this Guide

• •  To be sure you are making the most of property management software, use tutorials or other learning tools to find out about the essential product features.

Guide to Property Management Software

Know your options when choosing a facilities management software program

By G Taylor

1. Extent of property management software features.
2. Integration with common office software programs.
3. Availability of online property management solutions.

Action Steps
The best contacts and resources to help you get it done

Buy the features you need the most in online property management software

If you want a rental property management software program that will handle all aspects of your management duties, look for a program that includes tenant-tracking, custom form development, lease preparation modules and legal tips at your fingertips. Make sure your choice stipulates the option of using a cost or accrual bookkeeping method of ledger entry.

I recommend: Property management solutions like TenantPro records transactions, maintenance and repairs. Request a free trial to see if it fits your needs. Intuit offers its popular Quicken Rental Property Manager, with optional software add-ons for online bill paying and integrated office supplies.

Pick facilities management software that integrates with common office programs

No matter how many bells and whistles your new rental property management software has, you will be disappointed if you can't integrate it with your word-processing and email client programs. Many managers use Microsoft Office on their system and progressive software manufacturers know that, making their new property manager software solutions effortlessly merge with Microsoft Office applications.

I recommend: RentRight Next Generation software integrates fully with Microsoft Office programs and offers video training tutorials, making learning the program a snap. Capterra reviews the top in hospitality property management software for hotel owners and managers.

Go online for web based property management software solutions

Ready to step into the World Wide Web of online property management software? Options for handling all your tracking and correspondence online, plus web-centered marketing and maintenance are popular options. Attract new tenants to your facilities with an integrated website that automatically records inquiries and matches them with later tenant records.

I recommend: Propertyware offers integrated online property management services with their popular RentRopolis and a free 14-day trial, before charging a monthly charge for services. Chat now with an online consultant. RentTracker online offers integrated services and performs instant online credit checks on prospective tenants.

Helpful advice for making the most of this Guide

• •  Take advantage of free commercial property management software trials to check out the programs before you invest.
• •  Save time by purchasing a month-to-month online real estate management system and leave the advertising to the professionals.

Action Steps
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Use online property management software to save money

As you consider the pricing and costs of property management software, know that the cheapest solution is online property management software. You can find great features with some web applications; and because these programs are online, you can access them from any place you can connect to the Internet. Pricing for this service is lower than for traditional software applications, because you pay on a per-month basis.

I recommend: Property Stampede offers a proper management solution that is completely hosted online. Buildium offers the Property Manger edition, an online rental property management software you can use to collect electronic payments, import data, and host your website. This service costs anywhere from under $20 a month to around $2,000, depending on how many units you manage.

Choose commercial property management software that offers free demos or trials

If you are looking to save money with any type of facilities management software, be sure to shop around by checking out free demos and free trials. This will help you decide which software program offers the most cost-effective property management solutions for your needs.

I recommend: FacilitiesDesk is managing software that offers a free working online demo, or even a personalized demo for you business. Licensing installations from FacilitiesDesk range from under $100 to around $1000, depending on how many installations you need. EZFacility.com offers a free trial for any of its products, including facility rental management and scheduling.

Find comprehensive property manager software solutions to streamline your business

Most property management software deals with one area or another of property management, which might leave you without a net to figure out the rest of it. Instead of trying to buy different programs for accounting, administration and maintenance, choose one program that encompasses all these areas. Comprehensive software packages are low as $500, but usually run higher if you want additional features.

I recommend: The 321 software program from 212 Software gives you all the tools you need to manage a property in one easy-to-use interface. Property Solutions offers comprehensive residential property management tools that include online payments and data management.

Helpful advice for making the most of this Guide

• •  If you want to buy basic real estate property management software right now, check to see if you can upgrade the same program later when your needs change.

Action Steps
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Property management

Property management refers to the work performed for running an entire building including changing light bulbs, cleaning services, garbage pickup and other basic maintenance services. It also includes rental property maintenance.

I recommend: Quicken Property Management Software 2009 is an example of property management software that allows you to keep track of all expenses associated with general maintenance and rentals.

Tenant tracking or tenant tracker

Tenant tracking refers to software that keeps track of costs associated with tenants, including rents paid.

I recommend: Tenant Pro 7 is an example of tenant tracking software that is based on keeping track of costs associated with being a landlord.

Lease preparation

Lease preparation software prepares the legal contracts between owners and renters.

I recommend: Standard Legal provides an example of lease preparation software and its features.

Tenant screening

Tenant screening refers to the process of checking an applicant's credit history and eligibility to rent.

I recommend: ATenant Screen Online gives an overview of performing due diligence and tenant screening prior to accepting the prospective tenant.

Integrated software

Property management software that can be integrated with common office software is practical and efficient.

I recommend: Rez Stream Professional is an example of property management software that is able to be integrated with other software products.

Real estate management system

Real estate management system refers to property management software for large companies such as landlords or property managers of several buildings, retailers or restaurants.

I recommend: Virtual Premise software is an example of a real estate management system with capabilities for portfolio management, compliance management, abstracting, and more.