Property management software solutions act as central tracking systems that allow you to consolidate your record-keeping and streamline your operations. While features vary from product to product, most property management software packages include the following:

• Templates for creating lease agreements and standard notification letters.
• Accounting systems that allow you to track rent payments, pay bills, and consolidate property account information for tax and insurance purposes.
• Easy-to-manage database tools that allow you to track view historical financial and building information by tenant, unit, building, or portfolio.
• Tracking tools for work orders and contract histories.
• Customizable reports.
• Task management systems.

One popular property management software package that meets all these needs is Buildium.