Why You Need a Property Management Software When Scaling Your Operations?

Here are 5 ways property management software can support a growing portfolio:

1. Centralized System That’s Accessible to Everyone

It's crucial for your business to have a centralized platform to manage all your properties in one place. Eliminating the need for manual tracking across different channels. It’s also important that all employees, tenants, and contractors understand the system and actively use it. This ensures information is always up-to-date and easily analyzable.

A good system combines:

• Lease and tenant management,
• Maintenance management,
• Financial data and invoicing,
• Utilities calculations. 

"Our portfolio grew to such extent that it was already difficult to get a good overview of what is happening with Excels and emails. Excel is not a working property management software, it's a calculator," said Tulevara’s property manager Margus..

2. Complex Financial Management

As your portfolio grows, so does the complexity of managing and analysing your expenses and income. Property management software helps you to:

• Automate rent collection,
• Track ongoing and scheduled maintenance expenses,
• Generate detailed financial reports, for example of revenue and turnover prognosis.

Save time by integrating tools you already use, like accounting software, with your property management system. With integration, transferring data between systems takes just a couple of clicks. Manual data entry can lead to errors, is slow, and information can easily get lost in communication.

Hausing has many integrations with widely used bookkeeping softwares. See the list here.

3. Automation of Repetitive Tasks

Every day, people aim for more efficient work management. Navigating a large volume of information can be time-consuming, and the more tasks you have to remember, the greater the chance of forgetting something.

This is why it’s important to eliminate, automate or simplify repetitive actions. With a property management tool, you can automate many such as:

• Lease changes and terminations,
• Indexations and reminders,
• Debt notifications,
• Sending invoices to accounting through integration,
• Preventive maintenance of your objects.

Ask your software provider for tips on automation. At Hausing, we offer all these automation options. To read more about the benefits of automation in property management, check here.

4. Improved Tenant Management

More tenants means a lot more communication. It’s easy to get overwhelmed by various tenant requests. Being proactive with tenants helps establish mutual trust and respect, but it should be done efficiently and in an organized manner.

A property management tool allows you to centralize tenant maintenance requests within the system, so tenants don’t need to reach out via personal email or calls. The maintenance management system sends automatic updates on deadlines and allows tenants to track the process.

As mentioned earlier, if all leases are managed on one platform, the system can send automatic indexation and lease termination notifications, saving you time and ensuring tenants are well-informed about upcoming changes.

5. Scalable Maintenance Management

A growing portfolio requires a systematic approach to maintenance. A maintenance work order system integrated within property management software allows tenants to submit requests through a tenant portal or by email, which automatically routes to your system. Property managers can easily assign each work order to a:

• Supervisor,
• Contractor,
• Priority,
• Deadline,

Otherwise, important information may be scattered in emails or within the minds of property managers, making it difficult to access and process.

Another aspect of maintenance management is preventive maintenance. A well-planned preventive maintenance schedule not only keeps properties and equipment in good condition but also helps avoid costly repairs and unexpected breakdowns. With property management software, you simply organize and input your data, and the schedule is created for you—no need to search for templates or develop a system from scratch.

Here is a step-by-step guide to set up preventive schedule.

Conclusion

As your property management operations scale, the need for efficient and reliable tools becomes essential. Property management software not only automates daily tasks but also provides valuable financial insights, supports tenant communication, and makes maintenance management more tangible.

By embracing new technology, you can focus on long-term success and growth, rather than repetitive tasks and navigating disorganized data.

Try Hausing for free here or book a call with us to walk through Hausing and see the possibilities.