Custom real estate software development is one of the most efficient ways to automate rental property management.

Currently, software management systems are a popular niche in the IT industry. Frankly, creating custom software is not the only management solution. For instance, you can easily find software-as-a-service solutions and other ready-made software that can be easily integrated into your business.

Nevertheless, there are many reasons why custom real estate software development services are a more beneficial and efficient choice, especially regarding property management automation.

Which Rental Property Management Tasks Should You Automate?

Let’s start with the basics, answering how custom software development for real estate industry can help streamline processes. Long story short, the list of the property management tasks most suitable for automation includes the following:

• Tenant Screening and Onboarding
• Rent Collection and Payment Tracking
• Financial Reporting and Tax Preparation
• Lease and Document Management
• Maintenance Requests and Scheduling

Tenant Screening and Onboarding

Tenant profiling is one of the most popular rental property management software solutions.

Software management systems are primarily designed and developed to store and process data. User profiling is a widespread feature common for all types of software, regardless of industry. Still, its use purposes vary, depending on business needs.

In real estate software, tenant profiling plays a core role in the system, enabling other features and services.

First of all, it is commonly used for tenant screening and onboarding. Modern software-driven solutions help to streamline such repetitive and manual tasks. Candidates should just fill out the form; the software can check this information.

Besides, rental house property management systems commonly offer personal cabinets, where tenants can check for updates, request services, etc.

Rent Collection and Payment Tracking

Custom real estate software development is a tailored solution that meets business requirements and expectations. One such popular request is to create ways to track and monitor rent collection or other payment-related operations.

Frankly, it is not difficult to integrate reliable payment gateways that allow users to perform financial transactions in the app. Besides, mobile platforms like Android and iOS suggest native payment methods that support subscription management and tracking.

Simply put, rent collection and payment monitoring are typical for most real estate rental property management systems.

Financial Reporting and Tax Preparation

The same feature is used for advanced financial reporting, tax preparation, and calculation.

A combination of FinTech and real estate management solutions is a well-spread phenomenon. Nevertheless, while the payment gateway integration is simple, enabling financial reporting and tax-related operations requires more software preparations.

Besides, such service scaling demands data access and advanced security measures.

Lease and Document Management

Additionally, such systems can be easily used as a documentation depository, storing critical data and files more conveniently and securely than third-party solutions like Google Drive.

Thus, you can set up better security measures and give access by credentials, ensuring no one can access vulnerable data. Besides, in the case of custom real estate software development, you can quickly clarify your expectations and agree on UX/UI design with the development company.

Maintenance Requests and Scheduling

Finally, such real estate management systems are regularly used for improved maintenance, tenant reports, and scheduling. A centralized platform for all such tasks is a highly convenient and efficient way to operate your property business.

Combined with the previously mentioned features and services, you will get an ultimate management instrument that will positively impact your business’s overall performance and accuracy.

Why Custom Real Estate Software is Better than a Ready-Made Solution

Ready-made or conventional systems offer enough features and services to help you streamline multiple business operations. So, why should you even consider custom real estate software development? Such an approach suggests meeting all your demands and expectations and delivering a tailored solution for a long time.

The shortlist of the most valuable services of custom software development for real estate industry includes:

• Tailored features to match unique business needs
• Better scalability and integration with existing systems
• Competitive advantage through innovation
• Long-term cost efficiency

Tailored Features for Unique Business Needs

Most existing platforms for property management are conventional applications, i.e., they offer the most basic and familiar set of features.

However, in the long run, you will need to integrate new services, scale your functionality, make changes in your metrics, etc. Regarding SaaS cooperation, the final decision on whether it is possible to do it – is after your software provider.

At the same time, if you have chosen custom real estate software development – you can decide when and what changes to implement. To simplify, you are in charge and have complete control over the software app and its functionality.

Better Scalability and Integration

Custom development projects are planned and executed according to your ideas and business needs. Thus, you can satisfy them from the very beginning.

However, even if you have forgotten something or want to implement changes, you can always do so without resistance. All you will need – is a reliable, dedicated software development team.

Moreover, you can easily integrate new-age technologies as soon as they emerge. For instance, how it happened with the popularization of artificial intelligence. This gives you a much better competitive advantage.

Competitive Advantage through Innovation

As mentioned, you have complete control over the software, having everything you need to scale and improve your software platform and the related services you offer.

Therefore, you become much more independent and can choose how to scale and improve your software product in the future. It might seem futuristic. However, such innovations do not always include some new-era technologies like blockchain or AI.

For example, it might be migration to new software solutions like cloud computing or integration of new third-party APIs and other solutions.

Long-Term Cost Efficiency

Finally, custom real estate software development is a much cheaper solution in the long run.

Yes, it requires some sufficient investments at the beginning and a lot of time for the development and delivery. Nevertheless, this will be your primary spending: after the software launch, you must only pay for servers and software maintenance. It will also be much cheaper than a subscription to a third-party SaaS solution with limited features and services.

Besides, software providers commonly include multiple monetization strategies. For instance, you will have to pay extra for additional services and increase expenses if you hire new employees.

To sum up, custom software development for real estate industry is a very beneficial strategy, even if it demands more time and resources at the start. Your expenses will be covered by other advantages and possibilities in the long term.

How to Get Started with Automating Rental Property Management

Eventually, let’s talk about rental property management software automation types. Even though creating a new app from scratch is more efficient and beneficial, streamlining software can be performed on demand as an independent service. Simply put, there are two main approaches to automating rental property management:

• End-to-End Development for Complete Automation
• Integrating Automation into Your Existing Software

Clearly, you should consider such an option for end-to-end development when you plan to build an app from scratch. It is a crime to skip an opportunity to set up process automation, having no actual barriers or limitations at all.

Nonetheless, even if you already have real estate rental property management software, you still can implement automation solutions. Once again, the algorithm will be similar: you will need to find a reliable company that provides real estate software development services and hire it.

Yet, in such a case, the development team may need some time to get acquainted with the existing IT infrastructure to find the most efficient and convenient way to integrate process automation solutions. They also can suggest additional services like quality assurance and pinpoint software optimization and scaling possibilities, advising you on your future improvement.