Property Management Segments and Applications

Applications

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Helps managers keep track of tenant details like rent payments, contact information, and lease dates. Also, lease tracking can also automate the leasing process from prospect to move-out.Correspondence will include call-ins asking questions, noise complai

Tenant and lease tracking

Lets residents submit work orders and managers can assign work and track schedules. It can also track vendors and contractors used for the different repairs.

Maintenance Management

Process rent payments, includes a general ledger, and can help generate reports to visualize the financial health of the properties.

Accounting

Allows tenants to pay rent, make maintenance requests, and communicate with landlords at any time. This system can also send alerts and notifications about upcoming rent dates or important messages from managers to residents.

Tenant Portal

Develop accurate operating budgets and reports and forecast future costs and values, as well as account for consumer price index (CPI) changes, inflation and market rates.They help REITs, developers, and owners track all of their upcoming expenses and pro

Budgeting and Forecasting

Segments

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This is your basic straightforward house that is rented out by tenants.

Residential/Single-family

Buildings with multiple units, full amenities, which includes Apartments, privately-owned condos, and plexes, townhomes.

Apartments/Multi-family

Track owner information and HOA dues, board members and meeting minutes. Self-managed HOA's are not preferable because they are so cheap and they have a slow buying process. Decisions are made by committees.

Community/HOA

They typically need BoB tenant and lease tracking. Gate integration is sometimes asked for, most can do this, but we can't filter for this. Accounting is typically handled by other programs like quickbooks.

Self-storage

Usually needs good CAM reconciliation features. May lease units to retailers, sometimes the rents are a percentage of the retailer's revenues which the programs can manage. Other commercial unit types are offices and restaurants. These will be sized by sq

Commercial

Most of the time these are stores and restaurants, they are typically qualified in the commercial segment. Rents are often a percentage of the retailer's revenues which can be managed by the programs.

Retail

Typically, directly affiliated with a university and need to support multiple leases per unit. If a private owner needs to track several leases per unit.

University/Student

All of the basics, plus section 8 reporting to meet HUD(US Depart. Of housing and urban development) requirements. A lot of vendors don't do this. Tax Credit is another type of affordable housing where the government subsidizes the cost of housing so prop

Affordable Housing

These are also HUD units with subsidized rent just like affordable housing units. The difference is that these will be directly owned by a gov't entity, such as a housing authority.

Public Housing

These are trailer parks and mobile home resorts. Always ask whether they are managing permanent-slab trailers, for manual filter purposes.(are they fixed)

Manufactured Housing

Might need more advanced financial reporting and analysis. These are by companies that own or finance income-producing real estate. Will typically have shareholders. Timeshares are a good example of this.

REITs(Real Estate Investment Trust)

This is for buyers whose portfolio consists of multiple different types of units(any mix of residential and comercial units)

Mixed Portfolio