Property management system in Kenya

Definition of PMS:  “Property Management Software” is a type of software that operates locally to optimize business processes for enhanced performance and transparency on a device or server side. It’s really the adviser-de-camp of land owners, property managers, and for companies, trying to simplify tasks that would require a huge amount of time and money. 

For overstressed and overworked property managers, owners, Property Management Software is a blessing. The roles of such individuals at the office and back office are diverse, extensive, and in several instances, repetitive. Any of these responsibilities usually involve: interacting with tenants or residents, handling lease requests, keeping track of on-time and late payments, handling maintenance requests, and maintaining and reviewing detailed lists of properties. All such activities and responsibilities are time consuming, but it’s a piece of cake for property management software.

These types of software are not only intended for one specific category of specialist in the industry. The PMS will help your company with a greater degree of accuracy and success, even if you own rental property, commercial property, and have real estate investment.

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An integration between your PMS and POS provides deeper value than simply managing transactions. Because transactions are easily reconciled against each POS, there is opportunity here for smart operators to uncover insights that can help you make strategic decisions that actually separate you from competitors. Some key things this integration can help you can understand include:

• Which tenant segment contributes the most to different outlets within your business? With this information you can begin to target specific offerings based on tenant preference.
• What can you learn about customer behavior? Do different segments have different expectations? How could you use this information to tailor or personalize tenant experience or improve revenue performance by offering particular amenities or services.

The software will help real estate professionals in several different positions. Below are some:

• Real estate Investment firms and companies – Property management software does not only help landowners; it could also support real estate investment companies with substantial values. REITs and private equity companies could also use this software solution to efficiently leverage investments and handle portfolios, doesn’t matter how massive they are.
• Commercial – Managers requires software that gives them the capabilities to enhance their approach, improve analysis, and optimize the performance of their portfolios
• Retail – Building owners and managers of retail real estate requires unique software solutions to improve their strategic thinking and performance analysis. Retail property acquisition, growth, and management require a strong software solution to meet their decisions based on data to pick the correct mix of tenants.
• Tenants – While making maintenance requests, getting alerts about building changes, or incoming deliveries, and connecting with managers, tenants could use PMS “Property management software” through the use of a tenant portal.
• Property owners and managers – To maximize their duties and operations, property owners of every form of rental can use property management software. A Property Management Software will have different features and functionalities based on its purpose. Below are some core features of Property Management Software, so have a look.

• Accounting – A financial module which will help you to deal with mortgages, transactions, banking information, debts, and plenty more can indeed be incorporated with your property management software. Which make it all through one location, stored safely and can be accessible with few taps.
• Communicating – You can contact tenants directly through text messages and by email using a designed-in communication feature and functionality. You could even send messages separately or even in mass, build groups and save the chat history inside the application.
• Online payments – Integration of payments will help you to mitigate the hours spent on billing and bring down the cost incurred on paper records and collect funds safely. You give your audience a fast solution by providing an online payment feature, as well as allowing them the opportunity to check their bank statements or collect receipts. With automatic alerts and email updates, the online payment feature functions perfectly.
• Maintenance Management – Property management software enables support and maintenance requests to be handled, service providers and suppliers to be scheduled and tenants and property owners to communicate about scheduled maintenance tasks.
• Space Management – The space management feature and functionality role simplifies the allocation of resources, tracks, reports on the usage of space and materials and allows physical properties to be properly controlled.
• Document Management – All the data about your property, land, tenants, and finances can be saved by your property management software. You can upload, import, and handle documents such as flow statements or lease rolls using a personalized solution.

With the global digitalization, adoption of modern technologies, the need for top-notch Property Management Software has become critical within the real estate industry in Kenya and beyond. To remain competitive and facilitate your workflow, consider upgrading your software to a more automatic and innovative cloud-based solution. Below are some of the benefits of a Property Management System. #SmartWebSolutions

1. Easy maintenance monitoring

Poor maintenance can lead to building impoverishment under the worst scenarios. Hardly any property manager would like to have to contend with that kind of problem. Thankfully, property management software could indeed cure the problem by providing fully prepared access to information. As quickly as a work order is connected to the network, cloud-based software will automatically alert you the problem.

2. Easy payments from tenants and contractors

For your tenants and yourselves, receiving rental payments electronically makes it simple. Allowing a tenant to pay online will remove some need to meet someone in person or keep daily hours, which can save your time spent on admit, process, or deposit the payment. This benefit will also allow payment reporting and readily accessible records for both landlords and tenants to help to resolve any conflicts over rent payments.

3. Data tracking

 Property management software offers the option of recording financial data automatically that takes all the trial and error out of the assignments. You’ll be sent monthly text documents along with tables and diagrams, which will provide you the overall picture.  Throughout this way, using property management software will enable you to have a handle about what facets of your project need to be altered to increase your return on investment.

4. Property management

This is possibly among the most significant reasons why owners of properties are thinking about developing property management software. The kind of solution that makes accounting, monitoring, and communicating processes simpler. In the owner’s tab, all the details are available about property. While reducing third-party resources, property management software accelerates business processes so that you can achieve greater management uniformity and improve performance.

5. Around the clock support & customer loyalty

To provide your client with outstanding help anytime or whenever, you can incorporate property management software with chatbots and voice agents. You will make your clients feel valued and appreciated with device alerts and personalized marketing.

6. Quick inspection

Property inspection is amongst the most time-taken business practices that property managers need to face. It needs one after another inspecting properties, writing all the appropriate details down, and afterwards writing it back in the office. You can perform property inspections and produce informative reports when out there in the area with property management software. You could save a great deal of time and just never forget about something by using inspection templates planned accordingly.

7. Tenant screening

To safeguard honesty, every landlord conducts a background check on prospective tenants. Papers are often easily lost or destroyed, which is why the most secure alternative is to use property management software for tenant screening services.

8. Enhances visibility

Property management software provides unprecedented access to your properties with precise, updated, and real time data, directly and immediately through one powerful software. Throughout your full portfolio, you will have the information you need to make smarter decisions that will boost your activities, advertising and finances.

9. Calendar scheduling

Among the best benefits of good property management software, certainly. Calendars are required to display booking, property availability and customer or guest status from various channels. It will help you to arrange appointments with tenants, build reminders for collecting rent and plenty more.

10. Better Reporting

Reports will provide you a lot of meaningful information on how the company pays costs, sales, taxes, payment, and availability of lands. By inserting extra columns or sorting by multiple variables, these reports can be tailored to the needs of your organization.