MDS Explorer

MDS Explorer is a property management software specifically designed for the New York real estate market. According to the vendor, it offers a range of features to assist property managers in navigating local laws and regulations, streamlining operations, and efficiently managing their portfolios. The software is suitable for businesses of all sizes, from small property management firms to large enterprises. It is utilized by property managers, real estate professionals, building owners and operators, cooperative and condominium managers, as well as commercial real estate managers.

Key Features

Resident Management: The software allows for efficient management of detailed contact and billing information across the entire portfolio. According to the vendor, property managers can streamline operations and improve communication with residents while maintaining accurate records of resident information, lease terms, and rent payments.

Lease Renewal Management: The software provides a complete suite of features to handle the lease renewal process. According to the vendor, property managers can easily manage renewals for Rent Stabilized, Fair Market, and Commercial portfolios. The software enables tracking of lease expirations, generation of renewal packages, and efficient management of rent increases.

Rent/Maintenance Invoices: The software offers a variety of invoice and statement formats, allowing property managers to choose the most suitable option or create custom ones. According to the vendor, property managers can efficiently generate and distribute rent and maintenance invoices by email, print, or sending them to the printer of their choice.

Automated Monthly Management Statements: The software enables the generation of complete packages of reports customized by company and recipient. According to the vendor, property managers can easily print or email statements based on recipient preferences and distribute monthly reports to stakeholders, providing them with accurate and up-to-date financial information.

Report Designer: The software allows property managers to design custom reports from scratch or customize existing ones. According to the vendor, property managers can generate reports tailored to the specific needs of clients, providing valuable insights and supporting decision-making processes.

NY Specific Features: The software includes features designed to handle New York-specific regulations and requirements. According to the vendor, property managers can leverage the efficiencies built into the core system for the New York market, managing everything from Preferential Rents to DHCR Rent Registrations in a scalable and efficient way.

Integrated Accounts Payable: The software provides control over the entire accounts payable process from start to finish. According to the vendor, property managers can gain complete visibility across all expenditure types, manage payments efficiently, and streamline the process of managing vendor invoices to ensure timely payments.

Integrated General Ledger: The software allows property managers to analyze and compare the financial health of their portfolio in real-time. According to the vendor, property managers can measure performance against budgets and historical metrics, and gain insights into the financial performance of individual properties and the overall portfolio.

Work Order Tracking: The software helps property managers minimize costs related to maintenance and violations by closely tracking work orders. According to the vendor, property managers can efficiently manage and track the status of maintenance requests across the portfolio, ensuring timely completion of maintenance tasks.

Legal Tracking: The software enables efficient management and tracking of the complete legal process related to L&T matters. According to the vendor, property managers can generate 3-day notices, track the outcome of legal cases, minimize costs associated with L&T matters, and ensure compliance with regulations.