Best Property Management System Features

There’s no shortage of property management systems on the market for your rental property business. However, you might be unsure where to start researching or what system will work best for managing your investments. 

Thankfully, RentRedi is here to help!

In this article, we’ll explore what a property management system is, what features to look for, and how they work.

What Is A Property Management System

A property management system or PMS is a digital tool used by landlords and property managers to organize, track, and manage their rental properties. Typically, this type of software will come with a host of features that help investors or managers to collect rent, screen tenants, manage repairs, and many other nuances of managing rentals.

What Are The Types Of Property Management Systems

There are several different types of property management systems at your disposal to investigate. For example, there are different software built for residential and commercial businesses and for landlords or property managers. Additionally, there can be software that’s based on how many units you have and how big you plan to grow your business.

The type of system that works best for you will depend on your business structure and goals:

1. Do you own residential or commercial properties?
2. How many doors do you own?
3. How many investment properties do you plan to own?

Use these questions as a guide to start looking for which type of property management systems will work best for your business.

How Does Property Management System Work

A property management system works by helping you centralize all your business processes, properties, and people in one location. You can use software to collect rent and track deposits, view all your property details and market available units, manage maintenance and accounting, and even add your team to help.

For example, in RentRedi you can collect rent, auto-late fees, and utilities. Your tenants can pay with ACH, card, or cash so we offer a variety of payment options. Additionally, you can also send automatic rent reminders, and your tenant can set up auto-pay so rent is always paid on time, every time.

Conclusion

Property management systems are beneficial for your business in that they help organize, track, and manage all facets of your rentals. Using a property management software like RentRedi ensures that you can collect rent, find & screen tenants, market available properties, sign & store leases, and manage maintenance. Furthermore, RentRedi is a flat-rate system, so you’re never charged by unit. You can stay small or scale with our software and it will always be affordable. 

Additionally, both residential and commercial landlords or property managers can use RentRedi’s property management system to manage their properties. Even salon booth owners and storage unit investors use RentRedi. Especially as we offer unlimited units and properties and you can even add your teammates to the software for free.