Topics in Commercial Property Management - Document Management
One of the most daunting aspects of being a property owner or manager is creating, organizing and keeping track of important tenant related documents. Each individual unit you rent out has countless documents associated with that unit. These documents include leases, government forms, floor plans and apartment work orders. In addition you likely have countless documents that are not unit specific such as invoices, utility bills/usage, general work orders, payroll and more. Keeping track of all these documents can seem impossible. Even if you manage to organize all these materials you need to make sure they are easily accessible, and there is no risk that they can be lost.
Currently there are three main strategies when it comes to document management: prehistoric, inefficient or advanced. The first method of property document management is termed prehistoric because it is not tech heavy. It may seem ridiculous but there are some property managers that still rely on a file cabinet system to keep track of their units and related documents. It goes without saying that this system is efficient, it leads to many errors and only mangers who have a few units can really view this property management system as plausible. The second method of property document management is the current system that a lot of people use. Many managers rely on an inefficient method of document management that includes having important documents stored on their computers in countless different folders with different labels. These managers may rely on excel files to help them now where other documents are. Overtime these folders become hard to manage and finding files can take forever. While this is a step up from the previous method mentioned there is still plenty of risk in losing important documents and it is still very inefficient. The last and most efficient way to manage your property related documents is with software for property management.
If you are a property manager or owner you know that there are several different companies that offer building management software. Each company claims that their software for property management has the best features and the best Property management system. However, when it comes to document management many of these so called best commercial property management software systems fall short.
When looking for the right software for property management you need to make sure that your software can interface directly with Microsoft Word and that there is a tenant screen where you can save your documents in a special tenant database. You need features like “merge letter” writing system to simplify letter writing, with an unlimited number of user definable template letters. Features like being able to link scanned images, documents and other materials to tenant files so that your documents are organized and easilyaccessible. Realty Information Systems offers all these document management features and more. So if you are looking to move to the next generation of property management software that includes features that will help you organize you data in a time saving and cost effective manner you need to contact RIS Today