Welcome to Property Side Kick! This is our first of hopefully many blog posts. How do you manage your commerical properties? If you’re still using Excel spreadsheets, then it’s time to consider upgrading to a software package that will automate parts of your management process.
Features you should look for in a such software are:
- Reminder System – Know in a moment who hasn’t paid rent on time! You can also use a reminder system to see leases and insurance policies due to expire, incomplete work orders, and bills to pay.
- Site Map – Be able to customize a site map for each location. Automatically color code each location according to balance due, space available, or paid in full.
- Automatic Billing – Schedule an unlimited number of charges to appear automatically for each tenant. Set the amount, income account, and frequency for each charge that will appear on a regular basis.
- Letters and Leases – Merge specific tenant information into a Microsoft Word letter template. The software should come with some examples of letters and leases which you can use and edit, or create your own.
- Banking and Accounting Package – Enter income and expenses for all properties, keep a check register for each bank account, print checks directly from the program, create journal entries, enter bills to be paid, and memorize recurring transactions.
- Quick Reporting – Easy-to-read reports for all levels of management, including Rent Roll, Vacancy Reports, Late Rent List, Next Period Invoice, Work Order By Priority, and Profit and Loss Statements. Save time and be organized for tax season.
- Property Maintenance – Create work orders for maintenance requests and keep track of who reported the problem, who is assigned to complete the repair, and when it is due to be completed. This feature should also include the ability to track labor and material charges.
- Remote Access Capability – Allow staff members and business partners to access the program via a local network connection or an Internet connection from anywhere around the world.
- Simple Rent Collection – View a tenant’s open charges with two clicks. Then post one or more payments in just a few seconds. Print a receipt and you’re done!
- Complete Tenant Information – Keep all contact information, pictures, application data, references, incidents, notes, and lease information in one easy-to-access tenant record.
We hope this information helps you find the software package that will make managing your commercial rental units much easier!