The process of moving away from home, finding student accommodation in a new city, shifting, settling and so on is indeed tiring. But have you ever wondered how do the people who run the student accommodation business manage to keep everything on track? Building student accommodation, accommodating hundreds of students, maintaining all the facilities, and so much more is done by a team of few people. So, how do they manage the student accommodation?

There are n number of problems that they face. From lease management, security concerns, turnover rates, to rent collection. These processes are endless. And now that new student housing trends are being introduced so often, the stress level has increased significantly. However, thanks to the innovative technology and various software, the Property Management Groups are now able to deal with these problems effectively.

In the information given below, you will find an explanation of how these softwares helps the Property Management Groups to face these hurdles. So, let’s begin.

First let’s understand the types of student housing property management software:

• Server-Based:

  These are the kind of Property Management softwares that is installed in the systems that are present on the premises. To access this, the user must be present on-site, and must be connected to Virtual Private Network. Because of this server-based software, full control of the data is available easily.

• Cloud-Based:

  Thanks to these cloud-based property management softwares, now managing student accommodation remotely is also easily possible. These are accessible via the internet, and all third-party providers can easily access the data from anywhere in the world. There are various benefits of such software, like automatic updates, scalability, subscription-based pricing, and more.

Why do we need Student Housing Management Software?

As mentioned above, there are many challenges and problems that property managers often face due to the overloaded work. However, the use of software has made their business and life much easier. These softwares are designed to help managers solve these hurdles, and succeed at following tasks:

• Collecting rent from students
• Tenant Screening
• Maintenance Request

What are some student housing softwares available?

1. Innago

This is perhaps the best software to start with. Innago mostly offers several free services, which makes Innago a top choice for many property managers. Many users who have used this software have reported the benefits and good features that the software offers. Some of the features offered by Innago include Robust Reporting, Lease Management, Tenant Portal, and Tenant Screening.

2. Yardi

Yardi Breeze may be a perfect choice for property managers who are just starting their student housing business. However, the pricing policy of Yardi may be a little expensive, since their monthly minimum charges are $100. If you are looking for a tool that you can take with you wherever you go, then Yardi may not be the ideal fit for you. However, one of the major benefits of getting this software is the Intuitive Interface. The top features offered by Yardi include Tenant Communications, Maintenance Management, Owner Reports, and Robust Accounting Features.

3. DoorLoop

This is one of the best and most convenient software to use. This is easy to use, and fast software that is the answer to all your student housing questions. The most important part of the software is its customer service. Customer service is quick, answerable and humble, and guides you through the entire process in simple steps. Some features offered by DoorLoop include Full Accounting Suite, Tenant Portal, Maintenance Management, Leasing Tools, and more.

4. RentManager

RentManager is a leading Property Management Software. It deals with various commercial, residential, short-term property portfolios, and more. This versatile software has the option of customizable features, that make managing student housing not just possible, but also easy. Thanks to rmAppSuite Pro, rmResident, intuitive mobile apps and more, now the users can access their important data from anywhere. Some of the key features offered by RentManager are Financial Management, Maintenance Tracking, Tenant Portal, among others.

5. Buildium

Buildium can be understood as cloud-based software, that helps the property manager to be in control at all times and in all areas. The software allows students and PMGs to access information, take various actions, and so on. For example, with this software, it is easier to manage comprehensive accounting, vacancy administration, payment processing, maintenance scheduling, and so on. The key features of the software are online rent payment, managing vacancies, maintenance tracking, and so on.

To Summarize

In times where every student's housing need is changing and increasing rapidly, the importance of Property Management Software is invaluable. The growing technology and softwares have undoubtedly made all student housing challenges easier and manageable. Now, no matter which part of the world you are in, checking details and managing student accommodation in London has also become so easy. So, if you are a property manager who is looking forward to excellence and success, then it's time to use these softwares for a better business!