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Top Features of a Co-living Property Management System (PMS)

Jan 29' 25
3 min read
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Written byAjay Kumar
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Lead, Lease, and Booking Management

Click, Book, Occupy

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    Booking Portal Integration: Tenants can book rooms from a customized booking portal or popular OTAs like Airbnb and Booking.com.
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    Digitized Check-in/Check-out: Streamlines the check-in/out process and allows for easy contract renewals.
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    Contract Management: Manages multiple contracts seamlessly with detailed information on renewals, invoicing, and services.
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Finance & Accounting

Comprehensive Financial Management

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    End-to-End Property Accounting: Handles both receivables and payables, ensuring that accounting processes are company-compliant.
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    Automated Rent Collection: Automatically generates invoices for tenants, collects payments through integrated gateways, and reconciles with the bank.
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    Bulk Notifications: The Bulk Create function notifies everyone in the organization with payment reminders.

Common Amenities Management

Efficient Use of Shared Resources

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    Facility Booking: Ensures tenants book facility slots in advance, avoiding confusion.
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    Additional Services: Allows tenants to purchase extra services like Wi-Fi, generating additional revenue.
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    Resource Management: Pre-configures resource details, including approval and payment workflows.

Community Engagement

Fostering Tenant Interaction

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    Event Management: Facilitates planning, promotion, and registration for events to enhance tenant participation.
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    Marketplace: Provides a platform for tenants to showcase and sell their products, fostering a sense of community.
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    Exclusive Offers and Polls: Shares tenant-only offers and conducts polls to make community decisions.
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Facilities Management

Maintaining Optimal Living Conditions

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    Preventive and Reactive Maintenance: Regular and on-request maintenance to ensure a well-maintained living space.
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    Complaint Redressal: A mechanism for quick resolution of tenant complaints.
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    Asset Management: Tracks all assets in units to ensure transparency and accountability.

Additional Features

Business Intelligence

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    Access to various reports that show the state of your business.
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    Assistance with tax and legal compliance.

Custom Branded App Creation

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    Develops a personalized app for your property.

Hybrid Rentals

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    Channel manager facilities.
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    Focus on guest experience management.
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    Dynamic pricing algorithm for nightly rates.

Energy and Utility Management

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    Smart Locks: Enhances security and convenience.
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    Smart Lighting (STRATIS IoT): Automatically adjusts lighting based on occupancy or ambient light.
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    HVAC Optimization: Improves heating and cooling efficiency.
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    Energy Plan Selection: Assists in choosing energy-efficient plans from providers.
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    Leak Detection & Alerts: Quickly identifies leaks to minimize water waste.
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    Utility Billing Move Out Estimator: Promotes responsible resource usage.
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    Meter Readings: Accurately tracks utility consumption.
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    Ratio Utility Billing System: Allocates utility costs based on usage.
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    Documented Energy Cost Savings: Tracks and reports energy savings from smart technology.

Check out our product to get a comprehensive PMS that covers all the features that you will need to operate: MonkSpaces.Ai- Coliving


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