A software called commercial property management software is an app designed to aid landlords and property managers manage their properties. It refers to the systems used by property managers to manage properties, from marketing and accounting.
How to use CPMS?
Landlords and property managers simplify accounting using the software to perform these tasks:
- Generate invoices
- Keep track payments
- Calculate interest and late fees
Automate the processing of sending monthly statements
It helps prevent mistakes, faster payment collections and reduces the time spent on accounting. The same with general property management software, CPMS for small businesses is designed as a one-size-fits-all system to help manage every aspect of the process. However, it is designed for commercial property only or it offers some features beneficial for the commercial property managers.
There are some other features, which include common area management and multiple lease calculators.
Benefits and features
What features do you expect from using commercial property management software? Of course, these are the several features you will expect from them:
- Marketing tools. It contains the list of units and properties, screen tenants, and grab lease templates.
- Tenant portal. It has a centralized all-tenant communication feature in one dashboard. It allows for online rent payments.
- Maintenance. You can create, track, or edit work orders. Even communicating with the tenants and vendors is possible on those maintenance requests from within the software.
- Accounting. It manages accounts from lease to deposits, runs custom reports, and accepts different payment methods.
- Owner portal. It has one central place to provide reports and issue checks.
- With these overarching categories, it includes countless sub-features, such as:
- Website setup and more
It is the best example of “all-in-all. An excellent CMPMS is a solution that offers several exceptional benefits, including:
- Improves cash flow and tenant quality
- Saving time, streamlining the maintenance issues
- Remove issues and headaches caused by accounting workaround
It helps improve the cash flow and tenant quality concerns about high-quality tenant screening. So, it helps monitor the cash flow from the tenant’s leasing fee and also to automate late fees. Perfect, CPMS saves a lot of time, from tenant to CAM maintenance, you can’t bounce between the multiple mediums communicating with the vendors and tenants about the maintenance concerns.
Also, it eliminates the issues and headaches of accounting workarounds. No more developing each tenant and property as a customer. In CPMS, each feature is designed creatively. So, you would be wondering something out of this idea. How can all these be possible?
The fully designed property management software makes landlords’ and property managers’ lives easier. They can gain access to their business while at the same time managing them automatically and online. Yes, the software needs an internet connection to have it updated, but it doesn’t consume that much data.