8 Benefits of Property Management Software for Landlords

When it comes to property management software there are plenty of options for you to choose from.

It is likely this tyranny of choice that has led you here. Questions like; what are the advantages of a property management app? Why should I be using one? And, which software is the right one for me?

In this article, we can hopefully clear all this up for you and help you decide if Landlord Studio is the best software option for you and your needs.

First things first then.

Why Do You Need Property Management Software?

This is the easiest question to answer. It makes life easier.

You can avoid the piles of paper files that come with managing your standard property. Keep all the data and files stored securely in the cloud which makes it accessible from anywhere in the world. Update your accounts on the go with a mobile app like Landlord Studio. And Automate time-consuming tasks – giving your back your free time.

You only have to look at our online reviews to figure that one out.

Plus, you can easily manage your accounts – generate professional reports, and gain clear data overviews of your property’s performances and your overall portfolio performance easily.

Read: Managing Rental Properties on the Go

8 Top Benefits of Property Management Software

1. Cost

Property management software is now very affordable. And it has the benefit of potentially saving you a huge amount of time and money.

2. Manage Your Accounting

Doing your accounts, if you’re anything like me is a task that I generally like to avoid. However, leaving it all till the end of the tax year is a pretty terrible idea. Using a property management app like Landlord Studio will allow you to quickly and easily manage your accounts anywhere, anytime with just a few clicks on your smartphone.

Log payments in the application, record expenses, note who you’re paying, when payments are made or received, digitize receipts and automate complex accounting reports.

3. Communication

Keeping all the information about tenants and contractors in one place and associated with the relevant properties helps remember who is who. On top of that, you can easily automate communications like rent reminders saving you time and ensuring prompt payments.

4. Automation

Automating reminders, not just for your tenants but for yourself means you will never forget about important things again. For example, set a reminder for your six months of property inspection at the beginning of the lease. Make managing your time easy.

Produce professional reports showing your profit and loss, expenses, rent collections, etc. This will save you hours where you would otherwise have to manually enter data into excel, or whatever reporting system you currently use.

It will also remove a margin for human error, and allow you to spend more time validating the numbers and analyzing them for discrepancies.

5. Accessibility

Instead of having all your files stored on one computer or going really old school and using paper files – you can keep everything stored securely in the Cloud. What this means is you can access your (well organized) data and files anywhere.

Plus, when you use an app like Landlord Studio, you can access your and update them from any device. Giving you the freedom to ditch the office and truly manage your properties anywhere!

6. Scalability

Manually managing your properties takes time. By using property management software you can save yourself a whole load of time – which makes managing your properties easier for a start, but also means you have more time to do other things – like invest and manage more properties!

Streamlining operations means you can manage more, and in doing so increase your revenue and profit.

7. Simplified Backup & Recovery

Having everything automatically stored online means, not only access anywhere in the world, but also that your data and information are backed up and stored safely for if you ever need it in the future.

Okay, we could go on and on here. However, we think you get the point.

Save time and make more money with ease.

8. Data analysis

For a business to prosper, its owners must make accurate, data-driven decisions. However, their data and their analysis may be incorrect when gathered and performed manually.

With property management software, all the information you introduce into the system is stored, which enables you to run a thorough analysis and gives you insights into your business. Proper data analysis allows you to spot any inefficiencies and discover new opportunities.

Why You Should Consider a Mobile-First Property Management App Over Desktop Software

Mobile isn't the future. It's the present. The best property management software will have a native mobile app so that you can easily update your accounts on the go. No more massive end of year admin task, no more missed deductibles.

Related: 7 Ways Proptech is Changing the Real Estate Industry

If you use a property management app. You will be able to access all your data and update your accounts on the go. This gives you the freedom to do what you actually want to do wherever you are whenever you need to, instead of being tied to your office.

Is Landlord Studio the Right Property Management App for You?

We’ve talked about the many benefits of property management software – we’ve outlined the pros of a property management App over desktop software.

Is Landlord Studio the right solution for you? Watch these Landlord Studio reviews →

This is perhaps the hardest question to answer.

You can use Landlord Studio on all devices – iOS, Android, and Desktop. It was one of the very first mobile property management apps. Since then several other companies have followed suit and there are a plethora of options out there for you to explore. Are we better than them? Perhaps, perhaps not.

The simple truth though is that over the last couple of years we have spent a lot of time listening to what our users want, and every update and feature development we’ve made has been user-driven.

Our Property Management software is designed by Landlords for Landlords and as far as we can tell we must be doing something right because our users love our app.

Our work isn’t done though. There is room for improvement, we know that and we have some very exciting feature developments planned over the next 24 months (each of these features has been requested from our users and then voted on by as many would complete our surveys).

All we can really say then is see for yourself.