What is a primary function of property management software?

A primary function of property management software is to track rent payments and manage tenant communications. This software is designed to streamline and automate various tasks associated with property management, making it essential for property managers to efficiently handle billing and collections.

By using property management software, property managers can easily monitor which tenants have paid their rent and identify those who are overdue. It simplifies the process of sending reminders or invoices, thus improving cash flow and reducing administrative burdens. Additionally, such software often includes features for communication, allowing managers to send important notices, updates, and messages to tenants quickly and effectively, fostering better tenant relationships.

While evaluating property market values, overseeing property maintenance schedules, and calculating real estate taxes are all relevant aspects of the real estate industry, they are not the primary functions fulfilled by property management software. Each of these activities may refer to separate tools or specialized software that may complement property management functions but do not represent the main purpose of property management software itself.