Best real estate transaction management software to collect rent on time

December 20, 2022
Best real estate transaction management software to collect rent on time

Property management companies have the responsibility of collecting rent from tenants and giving it to landlords. With few apartments to manage, it is a simple task. Increase the number to a hundred or more, and you will have a lot of work. 

Many property management companies use spreadsheets and note apps to organize work. Editing sheets with hundreds of cells manually is time-consuming and having notes in a different place is makes it harder to find them. Additionally, there is a big room for error.

What can happen? You may forget to collect a payment from a tenant this month. Another possibility is forgetting the expiration date and having a vacant apartment for a month. How can a property management company address these issues? I suggest you consider using an ERP system asap. 

The benefits of having ERP for the real estate company 

If you are not familiar with the word ERP, it is an abbreviation for Enterprise Resource planning. It is a program that corporates usually use to run their businesses more efficiently. Using Enterprise Resource Planning software is a step toward success. Here are some of the benefits:

  1. All the data in one place 
    ERP platform allows you to have all your information in one place. The list of your employees, the products you have, the raw materials stored in your warehouses. The contracts, and more. It is easier to integrate when everything you have is in front of you. 
  2. ERP Improves communications 
    You can get rid of the middleman and make communication easier with ERP. Why would you send messages and emails when you can just assign a task to a member of the team, define the deadline, and add notes in the system
    Furthermore, having the information available to everyone keeps everyone on the same page. Employees from different departments can collaborate to get the work done with each other without having to wait for a message from the management to tell them. 
  3. Automated work 
    People waste hours of their time doing manual work like editing sheets and linking them together. When implementing ERP software for a real estate company, the system can automate most of the work. 
    Let us say a tenant moved out from a house; it can automatically create a task for the maintenance team to check the property and even create an ad that this property is available for rent. 

Benefits of Odoo ERP software for real estate company

Now that you know, Odoo system are tailored to the needs of each business, it is good to ask how can real estate companies benefit from an ERP. What we can say is there are not limits to what an ERP can do. Here are some examples

  • Create contracts easily 

Contracts are essential to sell and rent properties. They provide details about the price, and the date of the contract. The best real estate ERP software can help you create contracts easily. Just fill in the important information and you are ready to go. 

  • Alert when payment is due

The moment you create a contract related to a property, the system automatically creates alerts for the payments. If the payment is not collected, you can have a reminder notification set daily or bi-daily. 

With alerts, you can be certain that you do not miss a payment and never lose any money due to a mistake or bad memory. 

  • Create invoices easily 

Invoices are not only important proof of payments; they are essential to accountants. Odoo ERP system makes it easier to keep track of payments and received money. An ERP software for ش real estate company can have monthly invoices, quarterly, or even yearly, depending on the type of the contract.

Partial payment invoices are possible when the client does not pay the full amount. Partial invoices will remind you about the rest and prevent you from missing the payment.

How to get ERP software for real estate company

If you are looking for ERP software for your company, you are at the right place. Odoo can provide you with the right one. The steps are simple,

  • Go to contact us page
  • Fill in the form
  • Odoo developers will reach out to you

Or you can simply just Call or contact Odoo on WhatsApp by clicking here. Odoo developers are available to help you get the best ERP system for your business.

Get the best real estate ERP software and watch your business grow faster and bigger. We look forward to helping you and having you among our satisfied customers.