Nexa Lab Blog – Working as a property manager can be challenging, since you need to juggle numerous tasks and relationships. Maintaining tenant communication, making requests, and doing financial transactions are some of the many things a property manager should do in one day. Let us learn more about property management CRM software through this comprehensive guide.
The sheer volume of information can overwhelm even experienced managers, which will eventually lead to inefficiencies and potential oversights.
To solve this problem, property management CRM software can be a good help to property managers. This software offers many features, from the basics, like task management, to something more specific, like a lease manager.
So, now we are going to explore property manager CRM software, also known as property manager software. To start the topic, let us learn the definition of CRM in property management first.
What is a CRM in property management?
CRM doesn’t always mean software, actually. It’s a framework to help you manage all your interactions with current and potential customers.
But for now, we are talking about the CRM software that can help you in the property management process.
A property management CRM software is a software solution designed to help property managers and real estate professionals organise, automate, and synchronise their business processes. Some of this purpose-built software solution is also called property management software.
There are many CRM software solutions available on the market.
You can opt for the one that is specifically designed for property management or general-purpose CRM software.
However, most general CRM software today is powerful enough to assist you in performing customer management tasks in a variety of work fields.
Most CRM software solutions offer features like lead management, contact management, communication tracking, and reporting tools that can help you with your property management tasks.
But, if you need specific features, there is a category of property management CRM software solutions. In this category, the CRM solutions offer some specific features, for example, lease tracking and tenant communication functions.
Read more: Guide to CRM Software Integration for Businesses
Property Management CRM Software Key Features
In general, it has all the basic functionality of CRM software. But the property management CRM software offers a specific feature that can help property managers.
Some of the general features include lead tracking, contact management, communication tools, and analytics.
However, a purpose-built CRM software for property management also includes specific features like lease management and vendor management tools.
Contact management is usually the basic feature of any CRM system.
Some purpose-built property management CRM software can include detailed information, such as property owners, and vendors. You can store important details such as lease terms, payment history, and communication preferences, allowing for more personalised and efficient interactions.
Communication tools are another feature that every CRM software must have. Typically, this includes a feature that allows the CRM software to integrate with email, SMS, and even social media messaging.
Lastly, reporting and analytics are another feature that every CRM software has.
However, a property management CRMs sometimes offer customisable reports that provide insights into various aspects of your business, such as occupancy rates, revenue trends, and maintenance costs. These analytics are important since they can help you identify areas for improvement and make strategic decisions to optimise your operations.
Aside from all that general function, property management CRM also has a unique feature that only appears in this category of field.
One of the examples is the lease management feature.
This functionality can help you, the property managers, track lease agreements, renewals, and expirations, all in one single dashboard.
Lease management feature helps you have visibility into your client’s entire lease history, starting with records of current and past lease agreements. Usually, this feature also gives you and your client easy access to all the lease information, so you both have full transparency.
Another example is vendor management.
This might be an optional feature, but with it, you can manage the vendor you work with easily.
With this feature, you can have visibility into all the contact details of the vendors you work with, the services they offer, and their past jobs. Some even have the capability to assign work assignments automatically to appropriate vendors, which saves your team even more time.
Top Property Management CRM Software Options in 2024
Choosing the right CRM software for your property management business can significantly impact your operational efficiency and growth potential. Here are five top CRM solutions tailored for property management:
1. Buildium
Buildium is a comprehensive property management software that offers robust CRM capabilities. It provides tools for managing properties, tenants, owners, and finances all in one platform. Buildium’s strengths lie in its user-friendly interface and extensive feature set, which includes online rent collection, maintenance request tracking, and customisable reports.
One of Buildium’s standout features is its tenant and owner portals, which facilitate easy communication and self-service options. These portals allow tenants to submit rent payments and maintenance requests online, while owners can access real-time financial and occupancy data for their properties.
Buildium also offers strong accounting features, including integration with popular accounting software. This integration streamlines your financial management processes and provides a comprehensive view of your business’s financial health.
2. AppFolio
AppFolio is another popular CRM solution designed specifically for property management. It offers a wide range of features to help you manage all aspects of your property management business, from marketing vacant units to collecting rent and managing maintenance requests.
One of AppFolio’s key strengths is its mobile-first approach. The software is fully optimised for mobile devices, allowing you to manage your properties on the go. This mobile functionality extends to tenants and owners as well, with user-friendly mobile apps that enable easy communication and task management.
AppFolio also stands out for its advanced reporting and analytics capabilities. The software provides customizable reports and dashboards that offer deep insights into your business performance, helping you make data-driven decisions to optimize your operations and drive growth.
3. Yardi Breeze
Yardi Breeze is a cloud-based property management software that offers a comprehensive set of CRM features. It is designed to cater to the needs of small to medium-sized property management businesses, providing a balance between functionality and ease of use.
One of Yardi Breeze’s standout features is its intuitive user interface. The software is designed to be easy to learn and use, making it an excellent choice for property managers who want a powerful CRM solution without a steep learning curve.
Yardi Breeze also offers strong marketing tools, including a built-in website builder and automated listings syndication. These features can help you attract more potential tenants and streamline your marketing efforts.
4. Propertyware
Propertyware is a customizable property management software that offers robust property management crm software functionality. It is particularly well-suited for managing single-family and low-density rental properties.
One of Propertyware’s key strengths is its high degree of customization. The software allows you to tailor its features and workflows to match your specific business processes, providing a level of flexibility that can be particularly valuable for property management businesses with unique operational requirements.
Propertyware also offers strong reporting and analytics capabilities. The software provides a wide range of pre-built reports and allows you to create custom reports to gain insights into all aspects of your business performance.
5. RealPage
RealPage is a comprehensive property management solution that offers advanced property management crm software capabilities. It is designed to cater to property management businesses of all sizes, from small portfolios to large, multi-family complexes.
One of RealPage’s standout features is its AI-powered business intelligence tools. These advanced analytics capabilities can help you identify trends, predict future performance, and make data-driven decisions to optimize your operations and drive growth.
RealPage also offers strong marketing and leasing tools, including online applications, tenant screening, and automated follow-ups. These features can help you streamline your leasing process and reduce vacancy rates.
Read more: CRM Software for Real Estate Business, Guide and 5 Top Options
Conclusion
That’s all you need to know about the property management CRM software that can help you do your work as property managers, from the definition to the software options that you can consider using. Always remember, software is only a tool. Since it’s just a tool, it should be based on your suitable work system. Don’t just jump into any software solution without a proper knowledge, since the investment can be costly.
Investing in CRM software is a smart move for any business looking to improve sales, marketing, and customer service.
However, to get the most out of your property management CRM software, it needs to work with your other tools.
Nexalab’s App Integration Services can help you connect your CRM with other essential platforms, like PSA software, for example. This means you get a complete view of your customer data, automate repetitive tasks, and personalise your customer interactions. It’s a solution that helps you get the most out of your CRM investment. Contact Nexalab today to explore how App Fusion can drive your business forward.
