When you first launched your property management business, you were probably getting by just fine using existing systems, like Excel. Maybe you even invested some money into a basic software product to help streamline your operations. The problem is, as your organization has grown, if you haven’t upgraded your software accordingly, your bottom line may actually be suffering as a result. Here’s why.
Not Scalable
If your property management software isn’t inherently designed to dynamically evolve with your business as it grows, it is undoubtedly missing the mark. One of the main benefits of choosing a quality software solution is that it will allow you to do more with less. In other words, scale up to take on more clientele without the need to hire additional staff.
Find out what more you can do to boost the productivity of your property management business. Download a free copy of The Property Manager’s Guide to Maximizing Productivity.
Outdated
The property management industry is heavily regulated, and if your software isn’t designed for our field or is antiquated, your business could be at risk of being non-compliant. If an audit were to occur, would you feel confident that everything would check out? If you’re not 100% sure, it’s probably time to re-assess your product choice.
Steep Learning Curve
The time it takes to bring new employees up to speed on antiquated software could be costing your business money. Instead of wasting effort with complex and confusing training programs, invest in quality software that is designed to be user-friendly and quick to learn.
Limited Support
If your property management software is out of date, chances are there’s little to no support available should problems arise. Support after the sale is one of the most important features to look for, because you don’t want to be left behind every time you or one of your employees runs into a snag with the software.
Lack of Features
Older software solutions didn’t boast nearly as many features as are available now, and if yours is one of these initial models, you’re going to fall behind your competition (if you haven’t already). Today’s property management software should have built-in benefits, like online account access and payment portals.
Related Post: How to Evaluate the Best Property Management Software For Your Firm
If your current software has even just a few of these downfalls, it’s time to think about an upgrade. In fact, by remaining with a lower quality system, your business is highly likely to be losing money as a result. Request an online demo today to see how a robust, industry-specific software solution could propel your organization forward, keeping you profitable and a step ahead of the competition.{{cta(‘dd3cddaa-5b1c-4720-a06c-fc26e6fba0bc’)}}
Find out what more you can do to boost the productivity of your property management business. Download a free copy of The Property Manager’s Guide to Maximizing Productivity.
