Property management and accounting software integration
Property Management – what exactly is it?
Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate.
There is a fundamental difference between a real estate agent and a property management professional. Real estate agents may offer real estate management as a secondary service. Professional property managers, in contrast, are solely focused on managing your real estate portfolio and are dedicated to growing your investment. They analyze the performance of the individual investments and identify areas or opportunities, optimise the performance and grow the property value.
What Does Property Management Software Do?
Property management software provides an integrated solution for rental property investors and real estate managers to:
- rental spaces
- tenants contacts
- lease contracts
- utility calculations
- generate financial reports
- analyze their property portfolio overall performance.
It is very important to highlight that there is a major difference between the two types of properties – residential property and commercial property. All-size-fits-all solutions often do not solve the complex processes within commercial property management.
Online property management.
Professional real estate management.
Real property management software nowadays is mostly a cloud/online service, it allows landlords of small or large property portfolios to manage their processes from occupancy overview, utility calculations and exception handling to financial accounting and reporting.
There are various lease software platforms specialized in certain niche situations, such as small portfolios of single family homes, to large mixed commercial portfolios. So how to pick the right fit for you?
Online Real Estate Management Software criteria to consider
For picking the right tool for you, it is essential to explore the features for not only what your portfolio looks like today, but what you expect it to evolve into in the future.
The right property management solution should be designed to fit around the needs of the portfolio, big or small, with old or new buildings and for traditional long-term or flexible lease contracts management.
Will the platform you choose be able to grow with you? If so, is it affordable while you are still in the small portfolio phase? Moderan offers a flexible user-based pricing model that makes it suitable for both a 3.000 m² portfolio with one manager or a 300.000 m² portfolio with a whole dedicated team behind.
Moderan online property management platform today is specializing mainly on commercial and mixed-use property portfolios. We do have some residential property portfolios managed under our platform as part of the portfolio mix. Our strength is to serve commercial property managers, nevertheless.
Who benefits from property management software?
The simple answer is: both sides – landlord and tenants – the end-to-end property property management software enables landlords to effectively manage operations and provide convenience to the tenants.
Property management accounting software
Many universal property management solutions aim to cover both sides of the real estate segment, commercial and residential real estate management. They try to do many things at once – including accounting. It may seem like a very good deal, but there is a BUT …
Often those solutions better fit for residential property management, due the specifics with residential contracts which are usually short term and pretty standard and easy to renew.
In contrast, commercial tenants lease management is complex and features a variety of exceptions and extension options. Only a commercial property manager is likely to understand such leases, and knows how to manage lease contract indexation of the appropriate amount on an annual basis. Right property management software should be able to solve those complex processes connected with commercial lease management contracts.
Therefore Moderan is focused on the CRE management, to be excellent in one main thing. That is: online property management tool for commercial real estate portfolio managers.
What Moderan offers and adds constantly, is the compatibility and integrations with other systems that you are already using for financial management: such as – your current accounting software.
Property management accounting software integration example:
MODERAN integration app for Dynamics 365 Business Central app. The integration is used to exchange data between Moderan and Dynamics 365 Business Central.
Moderan app is meant for a property owner who’s real estate management (contracts, properties, rent-roll and utilities) is in Moderan software, and whose ERP is Business Central (BC).
The integration app is used to exchange data between Moderan and Dynamics 365 Business Central. From Moderan, customer data and real estate rent invoices are imported into Business Central. There they are finalized and sent to customers. Business Central monitors sales invoice payments and sends Moderan customer balance information.
Moderan links each property data with the corresponding landlord company in BC – this way you have a full portfolio overview in Moderan while managing each legal entity as a separate company within your BC database.
- Synchronize your tenant data from Moderan to BC.
- Issue Moderan invoices and book financials in BC.
- Update customer outstanding balance from BC to Moderan.
Moderan property management integrations partners list includes also:
Utility meters/readings automation and calculations. You can have all aggregate data migrated between external, third party property management applications, directly from Moderan.
The growing list of our partners and integrations you can find here – Partners. You are welcome to suggest us to connect Moderan with other software that you are already using. Contact us via firstname.lastname@example.org and we will surely take a closer look at it.
Moderan have been in the market 5 years and as of today over €3 billion worth of assets, more than 2 million m² of leasable space – 650+ buildings and 8 500+ tenants are managed with Moderan Property Management Software.
If you have more questions in detail, feel free to arrange an online meeting with our team lead specialist and we will be happy to answer all your questions. Just click on the button below and book a free online meeting. We speak 6 languages.