Overview of Property Matrix
Property Matrix is a comprehensive, cloud-based property management solution designed to streamline and optimize the management of apartment complexes and multi-family unit properties. This software is tailored to meet the complex needs of property management companies, offering a wide range of features that enhance efficiency, reduce manual work, and improve overall management processes.
Key Features and Functionality
Enterprise-Class Accounting
Property Matrix provides a robust accounting package that includes a general ledger, accounts payable, accounts receivable, and transactional history. It allows users to manage multiple sets of books for different properties and companies, ensuring each owner or company has a separate balance in their account. The system supports nested sub-accounts, line items for detailed transaction tracking, and customizable owner statements with varying ownership percentages.
Automated Transactions and Payments
The software automates recurring transactions, including the breakdown of account appropriations. It offers zero-cost credit card and ACH payment options, as well as check scanning and printing capabilities, making payment processing efficient and cost-effective. Users can also use the Multipay feature to enter high-volume checks and bill payments quickly.
Document Management
Property Matrix features a comprehensive document management system that allows users to organize, generate, and send documents to vendors, owners, and tenants. It includes built-in document signing and scanning technologies, enabling electronic signatures and the storage of signed documents in user profiles. Users can customize and fill out existing documents by overlaying fields on scanned PDFs or creating new forms from scratch.
Tenant and Lease Tracking
The software includes tools for tracking lease agreements, managing multiple leases and tenants per unit, and filtering for vacancies or specific units. Custom fields can be set up to track unique information related to units, leases, and tenants, enhancing data collection and reporting.
Maintenance and Operations
Property Matrix helps in managing building maintenance by generating maintenance requests and tickets automatically based on predefined conditions. It also integrates a CRM system and allows posting vacancies to third-party sites, facilitating marketing and communication efforts.
Customization and Automation
The platform is highly customizable, allowing users to set up automatic actions and triggers that perform tasks on a preset schedule or when specific actions are taken. Custom fields, templates, and theming options are available to adapt the software to the user’s business needs. Roles and permissions can be assigned to individual users, ensuring secure and controlled access to data.
Communication and Reporting
Property Matrix includes an integrated communication hub and offers email templates, customizable reports, and forms. The system allows for the creation of various reports, including financial statements and lease expiration notices, and provides a universal search feature to quickly find any unit, tenant, owner, company, or building.
In summary, Property Matrix is a powerful and versatile property management solution that combines advanced accounting, document management, tenant tracking, and automation features to help property managers work more efficiently and effectively. Its comprehensive suite of tools makes it an ideal choice for managing complex property portfolios.