Property or Building Management Software for Landlords: Which is Best?

Compliance is a central consideration in building management software for landlords

The proptech market has seen phenomenal growth in recent years. Software applications, sensor technology and smart building systems are enabling greater efficiencies and lowering our consumption of resources. From smart building systems to building management software for landlords, if you’re considering a digital solution for managing your property you’ll find something on the market.

In 2021, the global proptech sector was valued at more than USD 25,145 million. Fast forward to 2030 and the sector is expected to generate over USD 94,200 million in revenue. While that’s great for the number of options available to those managing properties of all kinds, it does make choosing your ideal solution a little harder. More choice often equals a greater chance of confusion.

Proptech solutions for landlords, developers and management firms

Presently, there is no single system that will take care of everything a property may need. That’s because there are so many different aspects to managing properties. And for each aspect related to property management, there’s a digital solution to match.

There’s taking care of the physical building and optimising the systems within it. Smart building and sensor technology are at the forefront of these solutions. Then there’s taking care of the people and community using the space. And, of course, there’s property portfolio management, property finances and property investment software too. Some software solutions take care of one or two of these areas. Others focus narrowly on one aspect and some solutions may overlap with others.

Below we take a look at the main property and building management software solutions for landlords.

Property Management Systems (PMS) for landlords

Essentially Enterprise Resource Planning (ERP) systems, this kind of software gathers together the information you need to run a property business. Functionality centres around finding tenants or buyers for a landlord’s property. It should also help users manage their portfolio investment, property listings, rental agreements and related administration.

A PMS is great for managing a landlord’s property portfolio or hospitality accommodations such as multiple hotel rooms, or commercial residential properties. The key to a PMS for landlords is the focus on finding tenants and the administration related to leasing accommodation — whether that’s for commercial, residential or hospitality reasons.

Building Management Software (BMS) for landlords

Building Management Software for landlords, developers and management teams focuses on a particular building — or group of buildings — and the facilities and communities within them. Facilities bookings, building maintenance and resident communication are the core aspects of building management software.

By centralising these aspects of a building’s functions, streamlining processes and taking care of tenants or buyers is seamless. Every detail is transparent and easy. Once new residents move into the building, the day-to-day communication between them and the management team is transparent, recorded and straightforward.

Issues such as maintenance requests or booking communal facilities can be taken care of through a BMS quickly and easily. The best bit of a BMS, from a building manager and landlord’s perspective, is the instant recording and ease of setting up workflows. Logging and recording everything so legal bases are covered and bottlenecks are easily spotted and cleared is automatic. From a resident’s perspective, building management software lets them take care of the day-to-day details of apartment living without any hassle or hold-ups.

Choosing a property management system or building management software for landlords

Despite the similar sounding names, property management systems and building management software for landlords are very different proptech solutions. Depending on the size of your portfolio, you may need both solutions.

BuildingLink’s software does much more than your average building management software. There is a little bit of a cross-over between our BMS and a traditional PMS. Why not see how our solution works in practice with a no-obligation bespoke demonstration of our software today?