If you’ve been in the property management industry for any amount of time, you probably know quite well how important having the right software in place can be. Our industry is chaotic and wrought with distractions and productivity killers than can reduce profitability overall. Property management software provides the solutions to many of the industry-specific problems we face, creates competitive advantage and can line your business up for success for years to come.
But with so many products on the market, how can you even begin to know which one is right for you? Well, to help you narrow your choices, here are a few specific features to look for that will ensure the software solution you choose is most effective for your business.
Find out how technology can make life easier for your customers, your staff, and YOU! The Property Manager’s Guide to Technology in the Management Office.
Scalability
You’d be hard pressed to find a property management business out there that doesn’t list growth as their number one priority. But up sizing can be a challenge, logistically, especially if you have to upgrade all of your software every time you increase your workforce. Be sure to choose a software solution that is designed to support business growth, otherwise you will have the added headache of making a change every few years or so. Search for a solution that will let you grow without the need for additional resources, and you’ll have a win-win.
Customizability
While there are certainly plenty of similarities that can be drawn between most property management companies, no two are completely alike. That’s why one-size-fits-all software won’t work. You need a solution that will address the specific pain points within your company and can be customized to suit your unique needs.
Online Portals
The internet has become an integral part of business function today, regardless of industry. Your property management organization should be leveraging this modern functionality and all of its benefits through the right web-based software solution. With online portals, everyone you deal with – from tenants to owners to board members – will be able to access a secure set of tools that will create a more streamlined and efficient environment. This is a must for any successful property management company.
Easy Integration
Nobody wants to be dealing with a dozen different programs and platforms – that only slows things down and impedes the productivity you’re trying to achieve. Be sure the software you select can be easily and seamlessly integrated with your website and other major programs you have currently in place. Better yet, look for a robust solution that can effectively replace the multiple individual programs you’re using so they can all be rolled into one convenient platform.
Online Bill Payment
These days, competitive advantage is becoming more and more about customer service than anything else. Offering your customers a variety of payment options, specifically the ability to submit payment instantly and securely over the web, can mean the all the difference when it comes to attracting and retaining clientele. Additionally, online payments provide a better cash flow for your business, as well as improved internal accounting accuracy. It’s a win-win, and an important feature you don’t want to miss out on.
Choosing the right property management software can be challenging, particularly given the number of options available on the market today. The best way to ensure that the solution you choose is the right one for your business is to know which features to look for. By finding a product with all of the above, you’ll be poised to enjoy a much more streamlined and efficient business operation, with improved customer satisfaction, competitive advantage and the ability to enjoy future growth as you pilot your business toward ongoing success.
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Find out how technology can make life easier for your customers, your staff, and YOU! Download a free copy of The Property Manager’s Guide to Technology in the Management Office.
