Comparison Between Free & Paid Property Management Software
Property management software comes with different features; each unique that distinguishes one another; however, there are some perks or extra benefits that users may get on paid versions. From putting up homes on listings for sale or rent to complete management of both residential and commercial properties, a property management software can do it all.
These are designed and developed specifically for landlords, real estate property managers, builders who would perform various activities from the backend whereas the user side or frontend is that which we see. To make it simpler and understandable, a property management software comes with a variety of tools or features that users may conveniently use when looking for a particular property online.
One of the most common features is the filter option which makes a PMS work more specifically to a user’s query. In the end, how these software or tools work also depends on how a landlord or management company would price it; that can be free or paid. Now, whether you’re considering a free or a paid version, have a look at key features every property management software should have!
Industry-Specific Accounting/Finance Module
Collection of rental payment, making accounting entries and other tedious tasks that are quite time-taking when performed manually or either via typical book-keeping are being replaced by online systems. Accounts are kept separated whereas individual property units can be tracked against expenses.
Automation of Work Procedure
No doubt, having a software means automation of work tasks, especially repetitive ones to save time, cost and effort while reducing human biases. Same goes for a PMS which helps in reducing paperwork, increase productivity and lessen chances of errors.
Online Payment Portal
What good software without a fast and secure online payment system! Whether tenants or buyers, a good PMS offers its users a secure online payment system to manage rental transactions, buying costs as well as other financial documents that may fall in the category of money or cash.
Ticket Maintenance & Automation
Property management means pre-and-post services are also included in the form of repairs, requests, estimates, client/owner/tenant conversation, image management and so on. Rather than waiting in a long queue, a PMS automates these tasks by online requests and making arrangements accordingly.
Reporting about Property
Reports on a property communicates current status, progress and other such news to both owners, renters and management companies thus ensuring a unit is always at its best. Other than that, this particular feature also keeps a check on transactions that may occur against particular units; however, this may be available in paid versions.
A PMS also manages complete writing, editing, updating, revising and other such work on essential documents that makes paperwork a breeze.
Updating, removing, adding and making other such changes to the properties online is another common feature that comes with both free and paid versions of a PMS.
Now these are only a few features, each PMS may offer many more. Whether you’re using a trial or paid version, it’s possible that the same features may have some extended functions rather than exposing users to a new one.