There are some small things that people don't always see when they're selecting a property management company. For example, the software package a management company uses can impact the service they provide.
Here at Real Property Management Service, we have been through four software transitions, and it can be a mess to change from one to another. But, it's important for us to understand what our owners and investors want to get from us. When it comes to property management software, there are internally facing benefits and externally facing benefits. Today, we're talking about those external items that investors care about.
Owner Portals on Property Management Software
Owner portals are great because you can log in and see pictures of your property. You can review property inspections, and check important documents and statements. You need to be able to pull up this information at any time, so you can see how much rent has been collected and what your expenses are from month to month and year over year. You can even find summaries.
If your property manager doesn't provide this, you have to wait until the information is provided to you. That's messy because what if it gets deleted from your email? It's better to have something that gives you whatever you need whenever you want it.
Tenant Portals and Their Functions
Tenant portals are also beneficial, and they do similar things. They allow tenants to pay rent online. You won't have any excuses about cheques getting lost in the mail. Tenants simply go online and do it in thirty seconds. Tenants can also see their ledger to know how much rent they owe. They'll know what the charges are, and how much they've already paid. This saves headaches and calls to the office.
Tenants should be able to submit maintenance requests online. They can report a problem and upload a picture to show how bad the problem is. We can then judge if it's a priority and send someone out. The tenants can see the progress of their repair. These are the small things we love to see in a tenant portal.
Tenants should also be able to see their property inspections. Nothing that we do should be a mystery to you or to your tenants. These inspection reports allow tenants to see what we find. If we find a problem with the property, they'll be happy to know we're looking for issues and solving them. If we find a problem with the tenant, you'll be glad to know we're taking care of it. When tenants know we're coming to inspect, they'll make sure the property looks great.
Shared documents in tenant portals make it easy for tenants to find applications, look up insurance they provided, and access information such as condo rules. Nothing should be hidden. These items wills save you headaches, and your tenants will appreciate you and the fact that you're making their lives simpler.
When you're choosing a property manager, check for these hidden nuggets. They're rarely advertised, but they will help you have a positive experience with your property manager. You'll understand the day-to-day management, and you'll know what your user experience will be like.
If you have any questions or you'd like more information about Toronto property management, please contact us at Real Property Management.