What are the most important reports generated by property management systems?

1 Occupancy report

An occupancy report shows you how many units are rented, vacant, or available in your portfolio. It also gives you information on the average rent, vacancy rate, turnover rate, and occupancy rate of your properties. This report helps you monitor your rental income, identify trends and patterns, and adjust your pricing and marketing strategies accordingly. For example, if you notice that your vacancy rate is high in a certain area, you can lower your rent, offer incentives, or improve your amenities to attract more tenants.

2 Financial report

A financial report summarizes your income and expenses for a given period, such as a month, quarter, or year. It also shows you your net income, cash flow, profit margin, and return on investment. This report helps you track your financial performance, evaluate your profitability, and plan your budget. For example, if you see that your expenses are exceeding your income, you can look for ways to reduce your costs, increase your rent, or diversify your revenue streams.

3 Maintenance report

A maintenance report records all the maintenance requests, work orders, repairs, and inspections that have been done on your properties. It also shows you the status, priority, cost, and duration of each task. This report helps you manage your maintenance activities, ensure your properties are in good condition, and comply with safety and quality standards. For example, if you find that a certain property has frequent or costly repairs, you can schedule a preventive maintenance check, negotiate with your vendors, or consider renovating or replacing the equipment.

4 Tenant report

A tenant report profiles your current and prospective tenants, such as their personal details, rental history, credit score, income, and preferences. It also shows you their payment behavior, satisfaction level, feedback, and complaints. This report helps you understand your tenant base, screen and select the best candidates, communicate and build rapport with them, and retain them for longer. For example, if you learn that your tenants are unhappy with your service, you can address their issues, improve your customer service, or offer rewards or discounts to increase their loyalty.

5 Market report

A market report analyzes the external factors that affect your property management business, such as the supply and demand, competition, trends, and regulations in your local area. It also shows you how your properties compare to others in terms of price, quality, location, and features. This report helps you assess your market position, identify opportunities and threats, and adapt your business strategy accordingly. For example, if you discover that there is a high demand for a certain type of property in your area, you can target that niche, invest in upgrades, or expand your portfolio.

6 Performance report

A performance report measures and evaluates your overall business results, such as your revenue, occupancy, customer satisfaction, and growth. It also shows you your strengths, weaknesses, opportunities, and challenges, and how you can improve them. This report helps you set and track your goals, monitor your progress, and celebrate your achievements. For example, if you achieve your target revenue for the year, you can reward yourself and your team, share your success story, or plan for the next year.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?