Managing their property is a very difficult process for real estate owners. Especially those who own more than one property must seek professional help to manage these properties in a safe and orderly manner. This is where the "property management system", or "property management system" in Turkish, comes into play.
What is Property Management System?
Property management system is a system that a property owner uses to manage the properties he owns. This system assists property owners in many matters, from leasing to accounting. It also provides property owners with reports on the performance of their properties.
What Does a Property Management System Do?
Property management system provides many advantages to property owners. These include:
Tenants management: Property management system simplifies tenants' applications, leases and contracts. It is also possible with this system to follow the payments of the tenants and to make reminders in case of delays.
Maintenance and repair operations: The maintenance and repair operations of the properties can be easily managed with the property management system. Thanks to this system, maintenance and repair processes are followed and timely intervention is made and the value of the properties is protected.
Accounting transactions: Property management system also facilitates the accounting transactions of property owners. Thanks to this system, the payments of the tenants are tracked and tax returns are prepared. In addition, reports on income and expenses can also be received through this system.
Performance reports: Legal property management provides reports on the performance of properties. These reports show owners how much their property is for rent, how payments are made, and how long it takes for maintenance/repairs to be completed.
How Does the Property Management System Work?
Property management system is usually offered as a web-based application or mobile application. Property owners can easily manage their properties by logging into these applications. Tenants' applications, rental transactions, payments and maintenance/repair transactions are tracked through this system.
In addition, property owners can do their accounting transactions through this system. Property management system provides reports on the performance of properties and property owners can always access these reports.
What are the Advantages of Property Management System?
Property management system provides many advantages for property owners. The main ones are:
Time saving: Property management system saves time for property owners. It simplifies tenants' applications, leases and accounting processes. In addition, since maintenance/repair processes are followed through the system, timely intervention is provided.
Increased income: With tenants' payments tracking and reminders for delays, property owners get their payments on time. In addition, rental periods of properties may be shortened as reports are also provided on the performance of properties.
Cost reduction: By monitoring maintenance/repair processes, property's value is preserved and maintenance/repairs are performed at less cost.
Better tenant selection: As tenants' applications and credit histories are tracked through the system, landlords can choose more reliable tenants.
All in all, Property management system is an essential tool for property owners. Thanks to this system, properties are managed more regularly and many advantages are provided for property owners. Using a property management system in many areas such as tenant management, maintenance/repair operations, accounting transactions and performance reports provides great convenience for property owners.
