What is Property Management Software?
Property management software allows property managers, owners, and operators to simplify and automate the activities associated with the operation of their properties. In an increasingly competitive and ever-changing environment, this will help you manage your real estate portfolio to a greater extent. These kinds of software solutions are not only intended for one specific category of specialists in the industry. This system will help your company with a high degree of success, whether you own residential property, commercial property, or have real estate investments.
What are the basic functions of Property management software?
Property software has capabilities that can be extended to many different sectors of the real estate industry, no matter what you might use it for (residential, commercial, etc.). There are only a few ways in which the software can be used:
Marketing – The owners and managers of residential and commercial real estate may use specific software solutions to market their properties to prospective residents and tenants.
Lease management – Property managers of all kinds will benefit from automating the leasing process by storing all the essential lease details in one place and handling the data flow effectively.
Retention of tenants and residents – Improve participation in commercial or residential properties and keep the occupancy rate high.
Portfolio Performance – Make portfolio choices based on comprehensive, insightful information and decide how each property performs.
Now that we have a good picture of what a PMS is, let’s look at who wants one.
Sometimes, small accommodation providers are on a tight budget, and avoiding investing in a PMS can be tempting. On paper, by handling your own bookings on an Excel spreadsheet, it can seem like you can save money, but in fact, this may cost your company in the long term.
It’s probably time for an update if the below signs agree with you.
Sign 1: For both you and your guests, bookings are hard and boring.
The feeling is known to you. In order to see if you have any new voice messages and emails, you constantly check your phone. If a visitor calls, you’re scared to leave your front desk. Just to lock in the booking and protect the credit card details of your client, you are trying to play the phone and email tag.
In order to complete their reservation, if your guests have to contact you directly, either by phone or email, the process can become tedious for both parties. You’ll feel bound to your desk and your phone, and if they can’t finalise their reservations fast enough, potential bookers may simply give up trying.
Sign 2: It may be hard to handle room inventory
In most instances, your bed and breakfast will be advertised on various networks, and visitors will contact you in a number of different ways.
The chance of overbooking your rooms is very high without a PMS. This is one of a traveler’s most frustrating encounters, and it can hurt your reputation in the industry.
A PMS can monitor your inventory for you and update your availability automatically through all of your channels of distribution.
Sign 3: There’s no picnic in handling your time
It’s high season, and in the function room, you’ve booked a family lunch. You’re busy as the owner and operator of the house, making sure your guests are satisfied. But since you can’t close rooms for arrival or departure, it is important to check out one of your guests and you’re scrambling to please all at once.
A PMS would allow you to manage your time effectively because you can close departure and arrival rooms and print out schedules for check-in and check-out. You’ll know exactly how you need to spend your precious time, all while providing the best possible experience for your guests.
Sign 4: It takes so much time to interact with your guests
Automatic confirmation notifications, text message alerts and feedback requests are expected by today’s travelers.
You are not sure, first of all, where to look to find the information of your guests. All your relationships with your guests are stored in various locations, from payment to contact and booking details. To find what you’re searching for, you have to jump from one software to another which takes a considerable amount of time.
Thousands of satisfied users state that automated property management workflows and the ability to track account transactions are the greatest advantages of this software. Axolon is one of the best property management solution in UAE. We also provide software solutions in UAE, Dubai, Bahrain, Qatar, Saudi Arabia, and Africa. Click here to request for a free demo.