On Jun 08 2023 / by Chantel Anderson

3 types of multifamily property management software to consider

Table of contents

  1. What is property management software
  2. Building management software
  3. Apartment parking software
  4. Tenant experience apps
  5. Parking management software
  6. Connect and streamline your property

You have a lot on your to-do list if you manage multiple residential properties. There's always something to do, your inbox is constantly full, and your phone never stops ringing.

Luckily, there are tools available to help you manage your workload and stay organized. One of the most popular tools is multifamily property management software. Software such as this can simplify both business operations and facility management.

What is multifamily property management software?

Property management software (PMS) is software made for landlords, property managers, and owners. This software streamlines the daily tasks associated with owning and managing property. It allows them to communicate better with tenants and manage properties. This can include organizing and ordering maintenance work, collecting rent, and sharing with and vetting tenants.

PMS is most commonly designed and used for buildings with 50 units or more, although lighter versions are available for smaller multifamily properties. If you manage a small building, you might even use a suitable free multifamily property management software to improve operations.

Different types of property management software

Building management software

Building management software facilitates and integrates a building management system (BMS). This system allows the building’s multiple features. These include machines like air conditioning, access to parking garages and locked doors, and lighting, to be accessed through software.

BMSs are usually in use from property management to control and automate the functions of the building. This is a huge advantage for large multifamily properties. The pluspoint is because it prevents management from physically going to individual units or locations to manually engage machines.

A crucial aspect of this is giving multifamily property management software access to the building through smart fixtures. Smart machines are machines that can communicate electronically with each other and software. This gives you increased control over them and can let you adjust and optimize them.

For example, let's say your air conditioners are smart and you can tie them into multifamily property management software. During the colder months, you can automatically turn off access to the air conditioners–so they don’t run when they’re not needed, driving up maintenance costs and wear-and-tear on the units. Then, when the warmer weather comes back around, simply turn the air conditioners back on with the easy-to-use functionality within the software.

Apartment parking software

Building management software can extend to apartment parking software as well. Parking is a constant headache for property management. So giving the control of parking to tenants in an apartment parking app can streamline this crucial aspect of the tenant experience.

This software helps tenants organize and coordinate when and where to park and pay for parking. It even lets you gain access to parking spaces by simply opening gated access with their phones. It can also help property management effectively control and optimize parking spaces. Letting you see what is in use frequently and what can be used better and making payment much easier.

To take advantage of how this software can help with apartment parking, you can use multifamily property management software that integrates apartment parking or works in tandem with parking management software.

Tenant experience apps

Tenants want and need greater control than ever before. So giving them that control is a great way to add value while taking some of the pressure off property management. Tenant experience apps are essentially universal remote controls for tenants to use to control their physical space. It’s a single place where tenants can communicate with other tenants. Also book spaces, and potentially even turn on their lights without getting out of bed.

This functionality extends to a variety of areas and can work in tandem with building management software to further streamline services. Again, going back to our air conditioner example: once property management has used their multifamily property management software to make the air conditioners available for use, a tenant can use a tenant experience app to set their air conditioners to the temperature they want.

The best tenant experience apps also integrate apartment parking software. Therefore this allows tenants to easily manage their parking needs, putting the control back in their hands. This increase in control keeps them from feeling like they must constantly reach out to property management to get anything to change and leads to happier tenants.

With apartment parking apps woven into multifamily property management software, tenants can request more parking spaces. Not only that but they can give up spaces they are not using or no longer need. Also effortlessly pay for their spaces, and access parking lots through their phones.

Parking management software

Parking management software is an excellent multifamily property management software. This is because it takes the hassle out of parking for large complexes. For example, buildings with more than 50 units will need a minimum of 50 parking stalls and, in most cases, will need to double or triple that amount. Managing this sheer volume of parking spaces is a full-time job in itself and can be overwhelming on top of the other duties property managers have to deal with.

Multifamily property and parking management software are excellent tools to help remove the pain of dealing with tenant parking without compromising on experience or revenue. Parking management software can extend to apartment parking apps or apartment parking software and organizes parking for apartment complexes in a fast, efficient, and large-scale way.

You can choose to integrate paid-parking solutions, use apartment parking apps to manage existing parking spaces better, and integrate them with tenant experience apps to create a simple-to-use system to take the pressure off management while elevating tenant experience.

Connect and streamline your properties with multifamily property management software

Connecting your properties to multifamily property management software through an apartment parking app or software is a value add for everyone. Tenants will benefit from the convenient access and ability to manage their own experience with an apartment parking app, and property managers will benefit from increasing utilization and minimizing infringement administration.

Talk to us about integrating multifamily property management software with Parkable and streamlining management across your properties.

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