What are the Benefits of Using Property Management Software? What are the Benefits of Using Property Management Software?
If you're a landlord or a property manager, you already know that the day-to-day tasks involved in managing a rental property can be overwhelming at times. From finding and screening tenants to staying compliant with security deposits to handling maintenance requests, property managers almost always have their hands full.
The good news is that with property management software solutions, a lot of the day-to-day routine tasks involved in managing a rental property can be automated and streamlined to give property managers more bandwidth. Below, we'll dive into the various benefits of using a property management system.
Online Payments - Automated Rent Collection
Some property management systems streamline the recent collection process and eliminate the need to collect physical checks and make trips to the bank every month. ZRent is a free tool available to Leader Bank clients to help automate, simplify, and modernize the rent collection process. Not only will a property management software like ZRent help reduce a property manager's workload, but it's something that tenants have come to expect in recent years. Online rent payments help ensure rent is delivered promptly, eliminates the risk of mailing cash or a check, prevents the possibility of dealing with a bounced check, and will end up saving time for landlords and renters alike.
With ZRent, landlords will enjoy:
- Access to our platform anytime, anywhere;
- A detailed dashboard to view property details and payment information;
- The ability to invite tenants on current and future leases;
- Payment forecasting with up to six months' worth of future payment visibility;
- Faster receipt of payments;
- Descriptive transactions. saving you time on bookkeeping and reconciliations; and
- Detailed monthly automatic reporting on every property and unit.
Streamlined Security Deposit Management and Compliance
Another time-consuming aspect of managing a rental unit is collecting security deposits and ensuring you remain compliant with laws and regulations in holding the deposit and returning it to tenants when the time comes. ZDeposit is a free and innovative tool that streamlines, simplifies, and modernizes the security deposit management and compliance process.
With ZDeposit, landlords improve their security deposit process with:
- Access to our platform anytime, anywhere;
- Convenient digital account opening;
- The ability to invite tenants to eSign the W-9 form ;
- State-level tools to facilitate your compliance with regulatory requirements;
- Detailed dashboard to start applications, view account details, or release funds back to tenants; and
- Individual records for each unit and easy access to receipts and interest statements for tenants
Using property management software for rent collection and security deposit management can help save property owners time and money while improving their relationships with their tenants. Choosing the right solutions like ZRent and ZDeposit can also help give you greater insight into your business with extensive reporting and a detailed dashboard. If you're a landlord who handles rent collection and security deposit management yourself, the benefits of property management software can free you up to focus on bigger picture tasks. If you're working with a property management company or thinking about contracting a property manager or property management company, it's worth it to ask them what property management software they use.
How New Landlords Can Simplify the Security Deposit and Rent Collection Processes?
We know how hectic property management can get, especially for first-time landlords, that’s why we developed an innovative solution that automates, simplifies, and modernizes the security deposit management and rent collection processes. And the best part is they are totally free!
Simply open an account with our easy-to-use digital platforms ZDeposit and ZRent, invite your tenants to join, and sit back and relax!
