With apartment properties, asset and property management functions often overlap. The attraction and retention of creditworthy tenants, for instance, can be thought of as pure property management, but the tenants generate revenue streams that are the basis of value in income-producing properties. In that case, the importance of software to facilitate best practices when it comes to tenants cannot be overstated.
“One of the most sought-after features that we’re seeing in property managers’ inquiries is that of automated tenant application services,” independent facilities management analyst Ashley Halligan said. “It allows a prospective tenant to fill out an online application so the property management company can quickly automate background checks and approval procedures. Companies like Point2 and AppFolio offer this feature.”
Read more...Software Solutions: Challenges in Asset Management of Multi-Family Property | Commercial Property Executive
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