Managing property requires significant time and effort — plus the right tools — to turn a healthy profit for your management company. It’s easy for unexpected costs or residential problems to negatively affect your bottom line if you don’t have enough operational oversight in place. This is why property management software is essential.
Whether you manage one small building or thousands of units across multiple properties, you can benefit from more efficient management of HOA payments, maintenance, record-keeping, staff operations, and resident experience. Property management software also keeps you connected with board members and your residents, offering them convenient access through an online platform.
Many companies also use accounting software to help manage their finances. Discover how property management accounting software can help lower your costs to increase your profit, and which services BuildingLink (BLK) partners with for integrated cost savings.
How Property Management Accounting Software Positively Impacts Your Company’s Profit
Using software designed to streamline your financial process can help increase your property management revenue in several ways. First, it improves data accuracy and reduces staff expenditure on administrative and data-entry tasks through automation. The software keeps your balance sheet, income statements, and ledger up-to-date, reconciles your financial information with the bank, and manages your accounts receivable and accounts payable as they occur. This frees up your staff from time-consuming and often tedious tasks while reducing accounting errors.
Accounting software for property managers also helps you manage vendor and maintenance payments, develop a budget, track your expenses, and plan for future growth. Most software options generate financial reports, which you can use to find cost savings, increase profitability, and share with your board. Lastly, accounting software is customizable, so you can design an efficient system that meets your productivity goals to save you money in the long run.
Meet Your Profit Goals With Our Accounting Integration Partners
Many property managers are interested in custom accounting integrations but are overwhelmed by their complexity. Fortunately, we offer a wide range of pre-built integrations designed to save you significant time and money so you can benefit from custom integrations without the hassle.
Our accounting partners include:
Yardi
Yardi provides a host of services for condos, co-ops, and HOAs. Their automated workflows help you track ledgers, monitor maintenance, property inspections and violations, track ownership changes, and transfer scheduled charges. Yardi’s menus and reports can be tailored to region-specific regulations and your accounting needs.
BuildingLink syncs with Yardi every 24 hours, keeping resident information up to date without manual entry by your staff to save you time. Work orders originated in BuildingLink sync with Yardi as they arrive for an optimal maintenance integration.
Hopem
Simplify resident management with Hopem’s software that tracks resident contact information, account balances, and moves. Hopem’s daily sync with BuildingLink means updates appear the following day without staff having to add or remove information on both platforms.
MRI
MRI’s property management software optimizes your back-office workflow by automatically tracking and syncing resident information with BuildingLink daily. They also offer comprehensive payment solutions and residential screening services. Our integration with MRI eases your staff’s data management responsibilities, giving you more time to devote to other matters.
AMSI
Designed to centralize accounting for property managers, ASMI’s eFinancials, in their suite of property management services, provides the tools to organize and better manage your accounting practices. Our integration with ASMI means you’ll never have to update information on BuildingLink’s end manually. Your unit owners can also access their account information through the BLK platform.
Jenark CoreLogic
Jenark’s property management and accounting solutions can improve property management bookkeeping. Their receivable and collection services include invoices, statements, late notices, payments through a web portal, and assessment increases. Though Jenark does charge an integration fee, it syncs daily and allows your unit owners to view account balance and transaction information through the BuildingLink resident site.
Caliber
Caliber automates your accounting workflows to eliminate laborious and repetitive work for your staff. This software adapts your property’s policies and manages them through one platform. Solutions like property management budgeting, vendor management, and other accounting reports benefit your bottom line. It integrates easily with BuildingLink, letting residents view their Caliber account information on our platform.
TOPS
With TOPS, you can easily create a custom ledger system, automate your collections process, collect online HOA payments from owners, budget for multiple properties, and more. Our integration syncs your TOPS account information onto the BuildingLink platform for one-stop owner access to transaction history, account balance, and other data through the resident’s site.
Remote Landlord
This software gives property managers the tools to improve their accounting practices. It can compare accounting periods, track building and property expenses, monitor your budget, and merge multiple properties into one profit and loss report, making it simple to track your property management revenue. Data from Remote Landlord automatically syncs onto BLK’s platform, reducing burdens on your staff.
Vantaca
Vantaca offers solutions to increase your back-office efficiency and reduce costs through customized workflows and reports, full banking integration, and streamlined management. When partnered with BLK, unit owners can view their Vantaca account balance and other data through our resident site.
RealPage OneSite
This accounting and real estate budgeting software automates your routines for improved accuracy and efficiency. Its budgeting and forecasting solutions are designed to help you reduce costs, and the centralized, accessible information is available to all stakeholders. The accounting services manage transactions with vendors and financial institutions. This software easily syncs with BuildingLink to simplify property and resident management.
CINC
CINC’s accounting software gathers all transactions, banking statements, and accounts onto one platform. It offers automated recurring bill payment and daily reconciliation solutions to save time and minimize repetitive work. When partnered with BLK, the monthly board financial reports help you make more informed decisions, improving your profitability. Unit owners can also view their CINC account information and transaction history through the resident portal.
Entrata
Entrata’s accounting platform incorporates a general ledger, a balance sheet and income statement, budgeting, invoice processing, and an accounts payable system for comprehensive management. When paired with BuildingLink, it provides property managers with a seamless user experience that simplifies your financial and residential management workflows, helping you find ways to increase profit.
MDS
Multi Data Services (MDS) was designed for the New York real estate market to assist local property managers in navigating local regulations and bureaucratic processes. Its bookkeeping and accounting services can handle high-volume processing of payables and receipts, while its integrated general ledger and work order tracking keep your financials up-to-date. MDS does charge an integration fee to sync with BuildingLink, but provides daily updates to account information, decreasing the work of your staff and increasing resident management efficiency.
Rent Manager
This fully customizable system handles every aspect of your finances, whether you’re managing one building or hundreds of properties. You can easily manage your accounts receivable and payable, handle payments, verify transactions, and summarize financial data. Rent Manager’s accounting software also features many budgeting tools to help you track income and expenses. The integration with BLK syncs information every 24 hours, letting unit owners view their Rent Manager information through our resident site.
VMS
Village Management Software (VMS) provides fully integrated accounting for property managers. Your general ledger, accounts payable, and accounts receivable are processed and managed in real-time for the most accurate data. Their banking, delinquency control, and budgeting solutions make managing finances less complicated. When partnered with BuildingLink, account balances, transactions, and other information is synced to our platform daily for easy viewing.
Condo Manager
Condo Manager offers advanced accounting solutions such as true accrual accounting, automatic bank reconciliation, a direct payment module, complete budget management, and a profitability analyzer. It also includes an apartment rental module and a vacation rental module for assistance in managing your rental units. With integration with BLK, unit owners can view Condo Manager account information through our resident site.
Find the Right Accounting Partner Through BuildingLink’s Integrations
Integrating accounting software with your BuildingLink platform can simplify your property management process and create a more efficient workflow, saving you time and resources to increase your management company’s profit.
Already using one of these partners? Learn more about how they work with BuildingLink to provide the ultimate solution. Schedule your demo today.