Home > Student Accommodation News > Property manager hub > Finance > What is property management software?

What is property management software?

What is property management software? thumbnail

Image courtesy of

(View licence)

Are you struggling to juggle your property portfolio? Are you bogged down by administrative tasks? Are your accounts starting to get away from you? It might be time to invest in property management software (PMS). 

What is property management software?

Property management software is software designed specifically to help aid the responsibilities and alleviate the challenges of anyone who manages property or works in the sector. PMS can help you with the day-to-day management of your property portfolio, from signing contracts and collecting payments, to scheduling maintenance and communicating with tenants. 

Who should use property management software?

In short, property management software is useful for anyone involved in the management of property. This means if you're a property owner or landlord who's responsible for the management of their own portfolio, or a letting agent or property manager who is responsible for a property portfolio on behalf of an owner, you should consider using a PMS.

What is property management software for?

Good property management software will help to automate and streamline the daily challenges you experience as a property manager, from the very beginning of the rental cycle to the end. Depending on your specific needs and the property management tool you choose, this can take shape in many different ways, but you should expect to see features such as:

Contract signing

Taking a potential tenant through the stages of referencing and signing their contract can be hugely time-consuming. An effective PMS tool will help to speed up this process by moving everything into one place. You can reference prospective tenants, create, send, and even sign custom documents and agreements through your PMS platform. This avoids you having to invest in a separate document-signing subscription. Plus, you can keep and manage your files in a centralised, secure location.

Tenancy management

As you know, your responsibilities as a property manager are just beginning once the tenancy is signed. Your property management software can help you to manage any maintenance requests that arise and maintain clear and transparent communication with tenants throughout their time in your property.

Organising finances

Property management software helps you to streamline rent collection and better organise your finances. Many PMS tools allow you to integrate payment collections into the system, and send out automated reminders when payments are due. You will then also have a centralised record of expenses and payments, be able to digitise receipts, and generate comprehensive reports on your finances. 


Why should you start using property management software?

How do you know when it's time to start using a PMS? Consider your current approach, how the tools you use are serving you, and your goals for the future. What do you want to achieve?

You want to streamline your systems

Using multiple systems for different elements of your property management means that you're managing large amounts of data in lots of different places. This can lead to manual errors, data duplication, miscommunications, or even data loss. By switching to a PMS, you'll have everything you need in one centralised place.

You want to save time

As your property portfolio grows, automation will become your friend. With the help of property management software, you can offload a wealth of administrative tasks and win back time to focus on more pressing issues that require your professional attention.

You want to scale your business

As you add more properties to your portfolio, it will become harder to sustain their management without assistance. If you have growth goals, it's a good idea to invest in a property management software that will help ease the daily burdens you face, and allow you to focus on expansion.

Ready to upgrade your processes?

Are you looking to make your rental cycle seamless? StuRents Operations empowers you with everything you need to maintain your property portfolio all in one place. Explore our Pro or Business plans to find out how we could help you elevate your processes with exclusive features like instant booking.

Want to find out more or ready to dive straight in? Get in touch at hello@sturents.com.


Explore Honor Wellington's articles