Posted by netintegrity

Benefits of Implementing a Single Vendor Property Management Solution

benefits-single-vendor-property-management-solutionAs a busy property management professional, you have enough to worry about wearing the many hats of your day to day work. That’s why single vendor solutions make so much sense. Instead of working with and relying on multiple providers and facing the challenge of integrating everything behind the scenes, a single vendor solution can handle all of your IT needs for you. Sounds like a dream come true, right? Well, for those who are still on the fence as to whether this type of solution is right for them, here are 6 additional benefits of implementing a single vendor solution for your property management software needs.

Audit Trails

One of the most important components of the ongoing success of a property management organization is accurate record keeping. Having audit trails to back you up should it become necessary in the future could mean the difference between an open and shut case, and the demise of your business. A quality single vendor property management software solution will provide you with instant and easy to access clear audit trails of all of your properties so you never have to worry.

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Internal Controls

The property management industry infrastructure involves a series of checks and measures that must be conducted on a regular basis, particularly in terms of accounting functions. Having a single vendor solution in place provides quick and easy internal controls which help to ensure compliance. Without these internal controls in place, property management professionals must rely on conducting these checks and measures manually, which increases the chance of human error.

Improved Reporting Internally to Customers

Anyone who has spent any amount of time in the property management industry knows that it can seem like a never-ending schedule of running reports and communicating with customers. It’s the nature of the business. By implementing a quality single vendor property management solution you can ensure that your customers will receive timely and accurate reports on everything from profit and loss to tenant receivables. Even better – you don’t have to worry about spending tons of valuable time doing so. Reports can be configured and run in a matter of seconds, saving you time and letting you focus on other important tasks.

Improved Customer Service through Real-Time Access to Accurate Information

Happy customers make for a successful property management operation, so one of your main focuses should always be on improving and maintaining high levels of customer satisfaction. Single vendor solutions create a more unified and seamless flow of information, which can be easily accessed and quickly disseminated to customers on-demand. By providing your customers exactly what they need, when they need it, your customer satisfaction rating will excel.

Related Post: Delivering an Amazing Property Management Customer Experience

Ability to Provide More Services from Each Site Office While Maintaining Control

It used to be that managing multiple sites meant the inherent risk of dropping the ball and failing to maintain control. After all, juggling more than one location is quite a challenge. Enter the single vendor solution for property managers. Now you can maintain all of your data in one centralized location, which can be easily accessed electronically from anywhere. This makes it much easier to synchronize your internal processes and streamline your operations as if they were all out of one location. This means everyone stays on the same page and your operation is run in a more uniform manner, regardless of the number of sites you’re overseeing.

New Advanced Service Offerings

Today’s single vendor solutions offer more advanced features that make the complex and intricate business of property management much more streamlined and efficient. For instance, additional conveniences such as online payments, online reservations (visitor parking, community room, etc), online maintenance requests, and more are all available at the click of a button. This lets technology do the heavy lifting, empowers your customers by offering them self-service options, and frees you and your team to focus on more important matters, like increasing profits for your organization as a whole.

With so much to worry about running your busy property management business, couldn’t you use some help? A single vendor solution provides all the features and benefits needed to help make your job easier and help your organization achieve continued success well into the future.

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Take your customer service to the next level! Get your free copy of The Property Manager’s Guide to Creating An Extraordinary Customer Experience.

 

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