What is one common feature of property management software?

Expense tracking is a fundamental feature of property management software because it allows property managers to effectively monitor and manage the financial aspects of their properties. This feature enables users to record, categorize, and analyze expenses related to maintenance, repairs, utilities, and other operational costs. By providing detailed insights into expenditure trends, property managers can make more informed budgeting decisions and ensure that financial resources are allocated efficiently. This is critical for maintaining the profitability of rental properties and ultimately maximizing return on investment.

While vehicle maintenance logs, health assessments of tenants, and local market advertising management might be relevant to certain specific scenarios in property management, they do not represent common features found across most property management software platforms. Expense tracking, on the other hand, is universally essential, as managing finances is a core responsibility of property management.