Understanding All There Is To Know About Property Management Software

While business owners and property managers of the past often had to collect monies

door to door or through the mail, today there is new property management software which allows such individuals to collect monies online. As such, renters can now pay rent online and the payments are immediately sent to the landlord and credit. On the other hand, property owners and managers can also create and distribute professional monthly invoices and other statements. So, as one can collect deposits, fees and rents online, one can save a great deal of money by using such software.

In addition, by using such software one immediately removes the issue of excuses about checks or money orders being lost in the mail. For, when a renter pays such rent through the online payment system, owners or managers receive the money within hours rather than days. As such, one often receives rents on a more timely basis and often on schedule, unlike in times before such online payment systems were designed and developed.

In addition, as landlords for various commercial and residential size units have different needs, the software can be modified to fit almost any situation. For example, where Spectra may be used in situations where one needs a great deal of reporting capability and control, Tenant is aimed at more basic property accounting needs. So, one must decide for oneself based on property size and the accounting methods required as to which program may work best for current needs.

One additional feature common to both is the ability to pay rent online through the I-cam program. I-cam is simple yet revolutionary software which provides a data entry system that is easier than setting up most spreadsheets or financial software. As such, landlords can receive online payments from any lessee or renter rather than having to go to door to door or wait on the postal service, which depending on the time of year can often take a few days to a week before one sees such funds.

Another nice feature of this particular software are the I-docs and ExecConnect integrated interface programs. For, one can produce professional documents specifically aimed at property management through I-docs. Whereas, executives can keep track, view and update entire portfolios through the ExecConnect feature.

As such, whether one owns a large corporation, commercial property, a small business or residential units, one can often save a great deal of time and money by using such software. For, whichever software one chooses to use, there are often benefits such as finding additional write-offs at tax time, with some having the ability to keep track of income and assist in generating professional tax related documents.

Therefore, this software is a great tool for anyone managing property, whether business owner or property manager. For, the software is straight forward and simple to use unlike many other financial programs which can be quite complicated. So, regardless of the size of commercial or residential property one may own or manage, one may want to review this new property management software.

by: Julianne Stiner

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