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Full PROMAS Property Management Software Review – All you need to know about PROMAS

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Are you a property investor or manager in search for an accounting-focused property management software? Or do you require a multi-platform solution to manage your property portfolio? Look no further with PROMAS property management software.

In the real estate industry, property managers or investors are faced with several issues stemming from their management processes which generally affects their business’ output. For instance, a property manager may experience challenges with sending notice letters to different tenants located at different housing units at the same time.

On the other hand, recent technological changes have resulted in the emergence of a series of software solutions which can be utilized for streamlining business management across all kinds of industries most especially property management. Nevertheless, property managers can utilize traditional software applications such as Microsoft Excel, or other generalist software, which often results in some of the limitations.

However, it is a necessity to implement a designated software solution for managing property management business. Conversely, property management software is a designated solution which allows property managers or investors to effectively manage their property management business without limitations.

With property management software such as PROMAS, property owners or investors can simplify their mundane project management activities without hassles. Besides, PROMAS allows you to bring your tenants on the platform in order to facilitate real-time monitoring and property management.

What is PROMAS?

PROMAS is easy to user, property management software designed specifically for professional property managers and investors in order to manage both residential and commercial properties. It is a robust solution which empowers non-accounting users to manage their property portfolio without deep accounting knowledge.

Ranked as one of the oldest property management software in the industry today, PROMAS is established since 1984 making it one of the efficient tools which have withstood the test of time. With more than 20 years of experience, PROMAS property management software is reputable for its integrated application which incorporates dynamic property management functionalities that allow users to automate their real estate business operations.

On the other hand, PROMAS is available both as an on-premise solution or as a cloud-based solution, which is known to be compatible with Windows, Mac, Apple and other web-enabled devices.

Some of its main features includes mailings, rent tracking, insurance management, contact management, maintenance management, property accounting, customizable reporting, and a host of others. In addition, PROMAS simplifies rent collection process for property owners/managers through its incorporation of electronic payment processing which enables tenants to make payment for rents online. Nevertheless, PROMAS comes with distinct web portals for both property owners and tenants alike known as the Owner’s Portal and Tenant’s Portal respectively.

Besides, PROMAS seamlessly integrates with a series of software solutions such as RentTrack, Inspect&Cloud, HeroPM, QuickBooks, PayLease, ACH.com, ScreeningOne and more. With any of these software integrations, users can perform advanced functionalities such as accounting, applicant screening, inspection, payment processing, lease processing, etc.

By implementing a property management software such as PROMAS, property management professionals or investors can streamline their entire business operations, simplify tenant management processes, improve their business management cycle, and increase their profitability.

PROMAS, on the other hand, is an applicable property management software managing the following types of properties:

  • Residential Properties
  • Homeowners Association (HOA)
  • Commercial Properties

Benefits

Ease of use

PROMAS comes with an intuitive user interface which requires no technical assistance for implementation. Novice users can carry our property management activities on the platform without supervision. Besides, PROMAS is rated as one of the user-friendly property management software in the industry.

Accessibility

Unlike other property management software, PROMAS can be accessed in the cloud and as an in-house solution. Nevertheless, users can access the platform from any web-enabled devices whether mobile or desktop. Regardless, property managers data on the platform are secured and free from hijackers. Moreover, PROMAS allows administrators to control user access and privileges across the organization on the platform.

Portability

promasPROMAS facilitates the migration of property management data to an external platform. Besides, this property management software provides you with complete control over your business data. This allows you to utilize your business data from either PROMAS application or external platform.

Robust Solution

With PROMAS property management solution, users are provided with advanced tools which facilitate mailings, rent tracking, insurance management, contact management, maintenance management, property accounting, and more. Besides, PROMAS eliminates the need for utilizing multiple software solutions in streamlining your property management business. This allows you to save cost and eliminate time-wasting associated with operating across several software applications.

Accounting

PROMAS eliminates the need for utilizing complex or expensive accounting solutions in order to manage your real estate business. Moreover, PROMAS provides you with an easy-to-use accounting capability which allows you to process payment, collect rents, manage accounts and more. Therefore, property management businesses can automate their accounting processes without hiring an external consultant.

Scalability

Property managers with different requirements can expand their business based on their specific needs without hassles. Besides, PROMAS is a flexible solution which can be tailored based on users’ requirements. Nevertheless, this property management software is available as both in-house solutions as well as a cloud-hosted platform.

Premium Support

PROMAS is reputable for its exceptional after-sales support. Although their dedicated support staff can be reached via email or phone; however, PROMAS property management software offers its customers excellent resources as well. Some of their resources include ‘How To’ documents, tutorials & webinars, knowledge base, and more. This ensures that users can easily resolve technical issues that they encounter on the platform.

Key Features of PROMAS Property Management Software

User-friendly Interface

PROMAS comes with an intuitive dashboard which allows users to identify its menus and features without technical assistance. In addition, PROMAS user-friendly interface enables users to navigate on the platform and carry out property management functions effectively.

Property Accounting

promasPROMAS is designed to support escrow accounting, bank statements, multiple checking accounts as well as 1099s electronic filling. This property management comes with durable tools which facilitate Accounts Payable -AP, Accounts Receivable-AR, and General Ledger -GL which provides property managers or owners with complete control over their property portfolio finance.

Property managers or landlords can convert their work orders into invoices which are then presented to the tenants for payment. In addition, PROMAS property management software allows tenants to pay due to invoices on the platform which can be paid electronically by ACH or manually by checks.

Nevertheless, PROMAS automatically tracks fees and commissions with sales tax calculations in the management ledger.

Maintenance Management

Property managers or owners can monitor their property portfolio in real-time through the maintenance management module. Besides, PROMAS property management software comes with tools which facilitate asset management, insurance management, key tracking, inspection, work orders and more. For instance, PROMAS allows property managers to add, edit, track, report, manage, email or print work orders which can be sent to vendors to facilitate maintenance process. Also, property managers can import work orders into invoices in order to receive payment for the maintenance task. On the other hand, PROMAS facilitates key management functionality as well which allows you to track your property keys in real-time.

Owner Portal

promasPROMAS provides property owners with a web portal which provides them with a customized view and layout for managing their property portfolio. Property owners can customize their profiles with information such as signage, photos and flyers, mailing address, letterhead information, 1099 information and more.

In addition, the owner portal allows the property owner to carry out scheduling, recurring journal entries, write notes, generate checks & statements, etc. However, by integrating PROMAS with other third-party service provides, users, can post their property listings or vacancies online. Nevertheless, property managers can publish different owner statements for distinct property owners with different report layout on the platform.

Tenant Portal

PROMAS provides tenants or renters with a designated web portal known as tenant portal. On the tenant portal, tenants can access their profile information, view due rents, make rental payments, receive customized letters from property owner/manager, make security deposits and more. Besides, PROMAS’ integration with PayLease enables tenants to make an electronic payment on the platform.

Nevertheless, property managers can track multiple tenants per housing unit and their emergency information. Also, PROMAS comes with customizable letter template which allows property managers to send personalized letters/notices to specified tenants on the platform.

Reports

PROMAS property management software comes with 200+ built-in report templates with selectable sort and date range. With the report module, users can generate a variety of reports connected to their property management data. In addition, PROMAS can be used to generate distinct reports for management, owner, property, tenant, vendor, bank, budget and more. Besides, the generated reports can be previewed, sent directly to a printer, published across the owner/tenant portal or exported as a CSV file.

Mailings

PROMAS comes with a mailing functionality which allows property managers to communicate with property owners and tenants alike. For instance, property managers can dispatch customizable letters to tenants, owners or vendors on the platform. Moreover, PROMAS supports only four mail labels such as Owner, Tenant, Vendor, Unit. Also, this property management incorporates internet publishing functionality which allows property managers to publish owner and tenant statement which are automatically sent based on their profile information.

Third-party Integrations

PROMAS seamlessly integrates with series of third-party software solutions which facilitates advanced capabilities on its platform. Some of the software solutions that PROMAS integrates with include QuickBooks, PayLease, ACH.com, RentTrack, Inspect&Cloud, HeroPM, ScreeningOne and more. With any of these software integrations, users are provided with advanced capabilities such as accounting, applicant screening, inspection, payment processing, lease processing, etc.

Other features of PROMAS property management software includes the following:

  • Vacancy tracking
  • Insurance management
  • Contact management
  • Lease management
  • Late fees calculation
  • Landlord database
  • Rent tracking
  • Tenant screening
  • Tax management
  • Portfolio management

Pricing

promasPROMAS is an applicable property management software for managing both residential and commercial properties. In addition, PROMAS is available both as a cloud-hosted solution as well as an in-house solution.

Nevertheless, PROMAS offers a detailed pricing structure for the cloud-hosted option available at a cost of $30/month per user, which includes 5GB of storage and an addition 5GB storage at $10/month. Additionally, PROMAS Central option is available at a cost of $45/month or $539/year for cloud-hosted owners and tenants.

Furthermore, prospective users can download a fully functional demo of the application prior to subscription.

However, prospective users can contact their sales team for more information concerning their pricing structure.

Technical Details

Supported devices: Windows, Mac, Any web-based devices

Serviced Locations: United States, Australia, Canada, Asia, Europe, Africa

Pricing model: One-time payment, Monthly subscription, Annual payment, Quote-based

Supported Language: English

Customer Types: Property Managers, Small Business, Medium Business, Property Owners, Large Enterprises

Popular integrations: QuickBooks, PayLease, ACH.com, RentTrack, Inspect&Cloud, HeroPM, ScreeningOne

Deployment: Cloud-Hosted, On-Premise

Support Details

PROMAS property management software offers users the following after-sales support:

  • Email Support
  • Phone Support
  • Online Support
  • Knowledge Base
  • Training
  • Documentation
  • In-Person