Whether you’re a multifamily syndicator, a small mom-and-pop investor, a property manager, or a [insert real estate job title here], having the right software tools to run your business is essential. If you aren’t already using software for property management, you likely should be.
If you are using one, you’re probably wishing it did more.
A lot of property management software tools have the same features like accounting, rent collection, and tenant screening. But here are some unique features that should catch your eye and that could help you manage your portfolio more effectively and make life easier for you, regardless of your job description.
1. AI Listing Generator for Instant Property Descriptions
AI is suddenly everywhere.
So why doesn’t your property management software have it?
AI listing generators allow property managers to instantly create compelling rental listings. Using technology like OpenAI (ChatGPT), the AI takes a property's basic details and generates a descriptive ad in seconds, saving the average user as much as 30 minutes per listing.
Rentec Direct announced this summer that it had added this functionality to its award-winning property management software. This tool creates listings with all the key components — location, rent/deposits, bedrooms/bathrooms, square footage, amenities, parking, pet policy, and more — turning basic features into descriptive prose to help vacant units stand out, driving more interest in your listings and helping reduce vacancy rates.
2. Free, Personalized Account Setup Assistance
When it comes to property management software, customer service is king. That’s why, as leading proptech solutions move away from aggressive sales tactics and toward a customer-first approach, forward-thinking firms offer free, personalized account setup with dedicated specialists.
Rather than listening to boring product pitches, new users can start entering important rental data right away, and specialists work closely with each user to ensure they understand key features and how to use the software efficiently.
This approach stems from a focus on service over sales. Providers like Rentec Direct recognize that property managers need robust tools and education to handle daily tasks, not a middleman or commission-based agent. Offering free, customized onboarding cements leading solutions as truly customer-centric. It also allows investors to try software risk-free before paying.
While free consultations may not be the norm yet, they can save you time and stress. So find a software provider that offers this.
3. Unlimited File Storage and User Accounts
Storing tenant and property files digitally is a must for any real estate professional. However, limited cloud storage can hamper organization and information sharing.
That's why it’s crucial to have unlimited file storage and user accounts.
Top software solutions allow managers to upload as many documents as needed to a centralized, secure database. From signed leases to maintenance records and invoices, everything remains easily accessible in one place. Robust permission settings also enable file access based on user type.
Customized multi-user accounts are also crucial. This allows staff to log in with unique credentials while accessing only data relevant to their role. Robust permission controls ensure each user accesses the precise tools and information needed to complete their tasks. This type of flexible yet secure account management enhances scalability. As portfolios and teams grow, granular access permissions keep operations running smoothly while protecting sensitive information.
Because unlimited file storage and user accounts are particularly necessary for investors who need to maintain records for seven-plus years, many providers charge for this. So if you can find one that features this at no additional cost, then you’re really winning.
4. A Dynamic Offering of Integration Partners
Ease of use is at the top of every user’s list of requirements when choosing property management software. Many top providers have a variety of integration partners to connect you with the industry's leading services and give you the best tools to help run your business.
Choose a software provider that boasts a number of strategic partnerships. These would include (but are not limited to) services that provide secure document signing and leasing automation, or that can help you with inspection reports, tenant verification, and online payments.
A robust rental listing syndication network is also a big plus, especially if you’re using an AI listing generator for property descriptions. In that case, you save double the time.
5. Real-Time Support
Have we already mentioned that customer service is king?
Can’t say it enough.
A lot goes into providing a great customer service experience, but you’re busy and your time is valuable. Getting questions answered and issues resolved quickly means you can get back to doing what you do best: running your business. So you need reliable, real-time support.
For this reason, prioritize a company that features U.S.-based support. Live phone assistance available on-demand is also a deal-maker. If the support team comprises staff licensed and trained in property operations, even better.
You’re most likely to find this kind of real-time support with established yet privately-owned companies. When founders stay involved in daily decisions and product development, new features directly target client pain points.
Don't let your property management software sell you short. Do your due diligence, prioritize customer service, and focus on these five must-haves to find the perfect software for your unique business.
The views and opinions expressed in this blog post are provided for informational purposes only and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action.