Basic Level

A basic PMS offers essential functionalities to manage small portfolios with minimal complexity.It allows the users to create a database for managing properties and tenants . It enables the unit creation . It can be viewed as a replacement for a diary where manual recording took place. 

The essential features for a Basic PMs are:

1. 1.
   Accounting - provides basic accounting features like ledger accounts and online payments.But there will be no advance automation features like bulk udate of invoices to all tenants or multiple payment gateway integrations.

2. 2.
   Maintenance Management: 

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  This module tracks and manages maintenance requests to ensure timely resolutions. However, it might lack advanced features such as importing checklists for specific tickets or multiple levels of ticket escalations.
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  Facility Booking by Tenants: While tenants can book facilities, this system may lack basic permission settings. Property managers might not be able to control features such as tenant-created events, polls, or automatic booking approvals. Permissions would need to be either fully enabled or disabled, as a basic PMS wouldn't support more nuanced functionalities.

3. 3.
   Dashboard: A basic PMS dashboard would not offer real-time visual representations of key revenue tracking metrics, such as vacant units, nor would it provide comparisons with past performance or predictions for future performance.

4. 4.
   Energy or Utility Management: It would not support smart technology integrations like 3D virtual tours, smart locks, or smart utility billing.

Ideal For: Small portfolios allow for straightforward communication and minimal-effort task coordination, making them particularly useful for landlords or property managers. A basic Property Management System (PMS) will not focus on selling comprehensive products for residential clients such as coliving spaces, student accommodations, or retail properties like malls. Instead, it will offer various modules, including accounting, maintenance, legal compliance, and insurance.

Intermediate Level

An intermediate PMS offers more robust features, supporting growth and enhancing tenant engagement.

1. 1.
   Scalable Solutions for Seamless Expansion:

A robust property management system (PMS) should act as a springboard for growth. Look for features that scale alongside your expanding portfolio, such as:

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  Growth Management: Effortlessly manage a growing number of properties with features designed to simplify complex operations.
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  Booking Engine: Streamline the rental process with an integrated booking engine, enabling potential tenants to easily secure rooms online.

2. 2.
   Marketing & Communication at Your Fingertips:

Attract new tenants and foster resident engagement with a suite of marketing and communication tools:

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  Website Builder: Create a professional and user-friendly website to showcase your properties and attract a wider audience.
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  App Builder: (Optional) Develop a custom mobile app for your brand, enhancing the tenant experience and streamlining communication.

3. 3.
   Building a Connected Ecosystem:

A powerful PMS goes beyond managing your properties – it connects you with your network.

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  Marketplace: Connect with a network of pre-vetted vendors and service providers, simplifying tasks and ensuring access to qualified professionals.

4. 4.
   Stakeholder Integration for Streamlined Operations:

Break down communication silos and achieve operational efficiency through seamless stakeholder integration:

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  Business App: Empower your property management team with a dedicated app for on-the-go access to critical information and tools.
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  Gatekeeper App: (Optional) Enhance security and streamline access control with a gatekeeper app for managing gate passes and work permits.
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  Tenant App: Foster a sense of community and facilitate smooth communication with a dedicated tenant app.
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  Visitor Management: Efficiently manage visitor access with features like pre-registration and automated notifications.

Ideal For: Property managers handling medium-sized portfolios who need more automation and tenant interaction capabilities.

Advanced Level

An advanced PMS provides comprehensive tools for large portfolios of ideally 10,000 plus units , offering sophisticated analysis and management features.

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  Customizable Dashboard:allows users to personalize their dashboard to display preferred data.
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  Marketplace Integration: offers a platform for buying and selling services and products.
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  Geolocation Analytics: uses location-based data for enhanced property analysis.
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  Real-Time Data Analysis: visual representations of data for immediate insights.
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  Insurance Management: facilitates the management of insurance policies and claims.
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  Portfolio Analysis: advanced tools for analyzing the performance of property portfolios.

Ideal For: Property managers with large portfolios requiring extensive data analysis, comprehensive management, and integration capabilities.

Yardi’s Advanced PMS Functionalities-

1. 1.
   Diverse Application Suite: Yardi goes beyond just property management software. They offer a comprehensive suite of applications catering to specific needs, such as:

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  Yardi Voyager: Core property management platform
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  Yardi RentCafe: Marketing and leasing software
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  Yardi Procure to Pay: Streamlined procurement and bill payment solution
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  Yardi Orion: Business intelligence and data analytics platform(and many more).

2. 2.
   Extensive Integrations & Partnerships (1,000+): Yardi boasts a massive network of integrations and partnerships exceeding 1,000, connecting you with various industry leaders. Here are some key examples:

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  Accounting & Financials: QuickBooks, MRI Software, RealPage
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  Marketing & Tenant Screening: Zillow, Apartments.com, TransUnion
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  Payment Processing: Stripe, ACH Payments, Worldpay
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  Maintenance & Operations: Buildots, AppFolio, BusyBox
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  Resident Services: Yardi Resident Portal, Keyless Entry Systems, Package Locker.

3. 3.
   Advanced Accounting Features: Yardi Voyager positions itself as a top-tier accounting solution for property management with features like:

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  Automated Workflows: Reduce manual data entry and streamline processes like invoice generation and payment processing.
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  Customizable Chart of Accounts: Tailor your accounting structure to precisely match your business needs.
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  Real-Time General Ledger: Gain immediate access to up-to-date financial information for informed decision-making.
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  Multi-Entity Management: Easily manage complex accounting for multiple properties or entities within a single system.
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  Advanced Reporting & Budgeting: Generate comprehensive financial reports and create detailed budgets for accurate financial forecasting.

Check out our product that covers all the features    that you will need to operate :Monkspaces.Ai

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