Digitization is making the world more transparent. It offers a greater degree of connectivity, which allows every stakeholder to be updated on the events and its developments.
When someone acquires a new property or a rental unit is being turned over, it needs to undergo repair and maintenance activities. However, finding vendors, inviting bids, and shortlisting suitable candidates can be quite a nightmare for individuals as well as property managers. However, the conventional bidding processes have a notorious reputation for being biased and diluted. Further, a number of bids are tainted with false promises. On the other hand, the vendors feel that traditional practices do not offer any clarity on how the bidding and allocation are carried out.
Since property-related transactions involve a large sum of money, having a system that is automated, immune from human intervention, secure, and transparent can make the auction more appealing to the general population.
As a result, Property Management Software introduced the concept of e-Bidding!
What is Property Management Software?
Property Management Software is a Software as a Service (or SaaS) product that allows a property owner to carry out a number of tasks such as generate vacancy listings, collect rent, manage maintenance requests, and more. Basically, it acts as a centralized system to carry out all the functions, activities, and transactions involved with a properly. It is widely used in hospitality, residential, and commercial settings.
Check out property management software demo.
Notable Features of Property Management Software:
There is a variety of property management software available from various vendors. As such, choosing the perfect one can get difficult. However, here are some crucial features that the property management software of your choice must offer:
– Tools and Functionality: Depending on whether the software is dedicated to residential property or commercial property, it has to be equipped with the necessary tools and functionalities.
– Easy Design: It is important to choose a platform that is user-friendly as different users will have varying levels of technical proficiency. Thus, design simplicity can attract a larger crowd.
– Bookkeeping Facilities: While maintaining records is important, it is also important to keep your books and generate fiscal reports. Property Management Software that contains integrated bookkeeping facility will allow you to keep track of all your finances.
– Report Creation Capability: A software with reporting capabilities can quickly furnish information that you need. As a result, every information that you seek can be quickly available at your fingertips.
– eBidding: With eBidding facilities, you can have a single platform where you can collect all the tenders received. Further, vendors can easily locate all the property details on the property management bidding software.
– Customer Care Support: Like any piece of technology, property management software is not immune to glitches and flaws. Thus, it is crucial to make use of software that offers prompt customer care support.
Reasons to Switch to Property Management Bidding Software
Here are a few reasons why you must switch your bidding activities on a digital platform:
Instead of floating a notice on various platforms, you can simply post a single advertisement over the property management bidding software. All the contacts that are available on the company’s portal will be notified of the listing. Further, companies can even share a link of the platform on their website, and new vendors can sign up and submit their bids. As a result, it is extremely efficient than any other mode.
The bids are hidden from all the users, including from the property managers. Thus, you can be sure that the bids enjoy a high level of confidentiality. The property managers will only get access to the bids after the deadline for accepting bids has crossed. Therefore, you can rule out foul play.
Needless to say, the digital intervention will make the bidding process convenient for vendors and property managers alike. It acts as a foolproof mechanism to ensure that the bids are submitted with the intended receiver without having to go through a lot of trouble.
Simplify your tasks and enjoy the highly robust features offered by the property management bidding software at https://tenderly.ca