Being a property manager was once regarded as a ‘stepping stone’ to a career as a sales estate agent. However, its now undeniable that one of an agencies most valuable assets is their rent roll, which makes property management a critical part of most real estate businesses.
Choosing the best property management software to manage one of your businesses most valuable assets is a critically important decision. Here is a list of questions to consider prior to making your decision:
Server V Cloud based software
During your research for property management software, you’re going to come across a range of different options that will either fall into 2 categories – server and cloud…but what is the difference?
The original and more traditional of the two, server-based software is installed on computers in an agencies office. If you are out on the road and a tenant or owner emailed you asking for some information, unless you knew the answer off the top of your head, you wouldn’t be able to give them the requested details until you were back in the office. This could be an issue if you spend most of your time on the road and try to avoid working late.
While cloud-based software is somewhat new to property management, it is the norm for the rest of the world. Your tenants and owners - like you - shop online, bank online, and search for information online. As a property manager, much of your day is probably spent outside the office juggling tasks like property viewings, organising maintenance jobs, bank visits and book balancing (to name a few!). Software that is cloud-based enables you to access your data and work from anywhere at any time from any device – all you need is an internet connection.
Benefits of cloud-based online property management software
- Reductions in property management software costs: Say goodbye to costly admin fees, IT maintenance/installations, and disruption to working days or weekends due to software upgrades
- Real-time information: A snap shot of where your business is at every second of the day
- Flexibility: Access your information at any time of the day from wherever you are in the world
Will it provide your tenants and landlords with superior service?
We know what you’re probably thinking: how can technology like property management software programs provide my clients with excellent service in an industry that’s built on people and relationships?
Make no mistake, property management software cannot replace the service and expertise that property managers provide to customers. Instead, consider the software as your personal assistant that takes care of the mundane, time-consuming tasks, leaving you with the time and freedom to:
- Grow your rent roll
- Nurture and strengthen your relationships with current clients
- Provide your tenants and landlords with information at any time from wherever you are
Will it grow your business?
Growing a business requires both energy and time, and this is what the right property management software should be able to provide you with, whilst ensuring your business operates at optimum efficiency. When used to its full potential, your property management software should:
- Give you back the time to expand your property portfolio and increase your bottom line through leveraging power of automated workflows and communication
- Improve your businesses profitability through the streamlining of processes and tasks
- Improve your client happiness and loyalty by providing them with up to date records and information at the click of a button, giving you more time to best service them not matter where you are or when it is.