How to Use Property Management Software to Reduce Costs and Save Time

Using Property Management Software Features to Reduce Costs and Save Time

After careful deliberation and a review of all property management software features, you finally chose a platform.

Gone are the days of outdated spreadsheets and shoeboxes full of receipts. As a landlord in 2026, you’ve decided it’s time for a modern property management system—one that will make your life easier and allow you to spend more time on what matters: growing your rental property business.

But you still need to know the best ways to maximize property management software. You need to understand the “how.”

In this article, we look at how you can make the most of property management software to not only save time and money, but also to take your business to the next level.

Setting Up Online Rent Collection

The best place to start saving time and money is automating rent collection. Instead of a tenant writing a check and mailing it, property management software allows you set up automated payments to have rent paid on time, every time. All tenants have to do is enter their bank account or credit card information to set up automated rent collection.

With property management software’s automated rent reminders, you no longer have to worry about tracking down and reminding your tenants about overdue rent. This allows you to spend less time worrying about late rent or delivering hand-written checks to the bank— making life easier for both you and your tenants.

Tenant Screening

Any property management software worth its salt has tenant screening features. It should be a straightforward process to run reports and collect good data. You want the best tenants possible, and tenant screening features will ensure you get them.

Using a property management tool will give you access to critical information about potential renters, including national data on their criminal records, credit history, past evictions, and (in some tools) helpful eviction reports.

Great solutions go beyond these features and help you manage these potential applicants. That includes collecting custom data (for example, the breed, weight, and age of their dog) and managing the status of various applicants. Some tools even allow applicants to upload additional forms as a part of their application, which is an efficient way to acquire bank statements or pay stubs.

Great tenant screening allows you to find tenants that pay their rent on time, respect the property, and communicate well. The better tenants you vet, the less time you spend tracking down late payments or fixing property damage, allowing you to grow your business worry-free.

Lease Management

With property management software, you can set up reusable lease templates. You can either upload past leases or start from scratch. With online leases, you can assign roles (e.g., who’s signing the. lease), indicate signature fields, and share your leases right after you set them up. Software will automatically send a link to your tenants to sign the lease via email.

After you create a template, property management software stores them for you—allowing you to continue to reuse templates as long as needed. Without having to drop off hard copies and deliver leases in person, the lease signing process becomes exponentially easier for you and your tenants.

Financial Reporting

A valuable part of property management software is financial reporting tools. With online financial reporting, you can better see how to increase revenue while lowering expenses—and turn complex data into actionable insights you can use for budgeting and planning.

With Innago, you can generate key reports like profit and loss (P&L) reports to help you identify where your expenses increase year-over-year and how you can maximize savings. We also integrate with Ledgre, a dedicated rental accounting software platform, to give you access to best-of-industry accounting and finance tools, designed specifically for landlords.

If you’re comparing platforms, look for accounting features that match your needs—like trust accounting, ledger accounting, and a full general ledger—especially if you manage owner funds or need cleaner books at tax time.

Detailed, accurate financial reports will help you gather valuable insights into your properties’ financial performance. With this information, you can make smarter, more strategic decisions about your rental property finances.

Tenant Communication

Property management software with a tenant communication interface helps you handle maintenance requests, address tenant concerns, and more. Some platforms are even beginning to add conversational AI and generative tools to help draft responses and automate processes.

Keeping your renters happy reduces turnover and creates a healthier landlord-tenant relationship. Meeting tenants’ needs by quickly addressing maintenance concerns helps you prevent issues proactively, saving you time and money.

Maintenance Management

Proper maintenance management can make or break your rental business. It’s one of the hardest tasks you’re faced with as a landlord, but a property management tool can make your life a whole lot easier. Through a mobile app, tenants can submit tickets, making it easy for you to manage and organize requests.

When you enable notifications, you’re always aware of when a new ticket comes through. You can additionally grant access to members of your maintenance team to the portal, allowing them to say up to date with requests and mark tasks as complete.

Taking advantage of your software’s maintenance management feature allows you to see just how much time and effort you save—and helps protect your valuable assets. Plus, maintenance documentation can be useful when coordinating repairs related to warranties or landlord insurance claims.

Digital Document Signing

A 2020 study by LunarPen found that electronic signatures (eSignatures) reduce document turnaround time by 80%. Digital document signing is vital to your operations because it saves time and effort, and provides additional security. Long gone are the days of paper copies and chasing down tenants.

Digital document signing streamlines lease signing, parking addenda signing, pet agreement signing, and countless other documents. Additionally, you can store documents digitally, keeping everything in one place and supporting data management securely across your portfolio.

In today’s online world, digital document signing is vital to your operations as it provides you security, saves you valuable time, and saves you valuable money.

How Innago Makes Property Management Simple

With Innago’s property management software, you can take your rental property business to the next level with features like

• Simple online rent collection for you and your tenants
• Work orders and maintenance requests in one place
• Online lease signing
• Expense and reporting insights
• Free downloadable lease templates
• Tenant screening
• Listing and syndication
• Renter’s insurance

A free software, Innago simplifies rental property management by automating your everyday tasks, allowing you to focus on what’s next for your business and grow your rental portfolio.

Conclusion

Utilizing property management software’s key features grants you a solid foundation for success—and supports the broader digital transformation that can revolutionize operations for modern landlords.

Features like online rent collection, maintenance management, tenant screening, lease management, and financial reporting allow you to not only save time and money but allow you to focus on expanding your business.

FAQs

Is property management software worth the cost?

Yes, property management software is worth the cost. It saves you time and money by automating rent collection, maintenance tracking, and accounting, ultimately boosting efficiency and profitability. Software like Innago does all this for you, free of cost.

How do you reduce expenses in property management?

To reduce property management expenses, focus on proactive maintenance, thorough tenant screening, and automated online rent collection. Property management software, like Innago, can help you do that.

Is there a free property management software?

There are free property management software. Innago, a free property management software, has all the features you need—online rent collection, digital lease signing, lease management, listing and syndications, and more.

What’s the best property management software?

While there’s no “best property management software,” there are several top options. Landlords prefer software like Innago, AppFolio, Doorloop, Buildium, and Rentec Direct software.

What is the cost of property management software?

The cost of property management software varies depending on your portfolio size and your specific needs. Innago, a free property management software, has all of the features you need—online rent collection, maintenance management, and financial reporting—at no cost.