Property Companies Management

As a property management company, you of course work with your fair share of tenants and vendors related to your units and your properties. Those kinds of interactions are pretty standard among any kind of property manager, but with a property management company, you also work with a new set of people: companies and owners. Since these companies and owners are on the managerial level, they are perhaps a little less straightforward to work with and manage. That’s where online property management software comes in, making it just as easy and accessible to manage companies and owners as it is tenants and vendors!

Company Information

The first step of managing companies with online property management software is setting them up with their information! Within the system, you can add in a new company with some default company information, as well as bank accounts for a number of different purposes. You can also set up the ownership details, inputting owner information as well as adjusting ownership percentages directly through the system so that any payments will automatically follow that split. You can then attach this company to any present or future properties within the system so that the two are linked in regards to any payments or messages or information. Once these have been set up, you can then filter properties, units, maintenance requests, and anything else in the system by company, getting exact information to and for the correct people.

Company Accounting

When dealing with the company and owner level of property management, you’re most likely communicating over accounting and financial decisions. With online property management software, each company has their own extensive transaction history that you can manage and review, just as you can with tenants and vendors. You can also set up management fees, creating charges to and from any company, for any reason. You can do this manually when new charge reasons come up, but you can also set up charge schedules to pop up automatically for any recurring payments. And with companies potentially having multiple owners, you can separate and split payments between those entities, as well as set any accounts to exclude in available balance calculations, making it simple to operate and manage any company you work with, no matter how they are set up. All of the company accounting can be done through the system, and with all the options available, every company can be managed effectively!

Company Reports and Portals

With all the company information and accounting set up, the other big portion of online property management software that is uniquely pointed towards companies and owners, as well as you and your team, is the creation of reports. Any report that you generate can have a company selected to supply that information for that specific company. You can then send these reports directly through the system to the owners and companies they are for, giving them access to the most up to date information, every time. But running reports on your end for all the companies you manage can be time consuming and inefficient. Luckily, with online property management software, you can set up owner portals for all your owners, giving them quick glance access to recent statements, maintenance requests, documents, and reports! You and your team can decide which reports you want these companies to be able to run on their own, and they are then able to run them with their own date ranges, cutting out the need for you to dig through your information every time a company needs anything! 

Managing Companies

With all of these ways to connect owners and companies to properties and units, and with the easy accounting and report generation features, managing your companies and owners has never been simpler! Here at Property Matrix, we know how extensive your work as a property manager can be, and want to make everything as interconnected and as easy to use as possible! Schedule a demo with Property Matrix today and see how else we can help you monitor and manage property owners and companies!