With the rapid adoption of smartphones and cloud technology over the last decade, the needs of the modern property manager have changed dramatically. If your property management software is driving you insane, it's a dead giveaway that you need to upgrade to a more intuitive and modern cloud-based solution.
We've put together a free property management software comparison guide as well as a comprehensive list of the top 10 essential property management software features to assist you.
When your data is "online in the cloud," it is stored remotely in a secure network of servers that can be accessed via the internet. This eliminates the need for large on-premise servers that necessitate the installation, maintenance, and upgrade of an IT team. Aside from cost savings, one of the primary advantages of cloud property management software is increased flexibility and accessibility. You can save time by storing your data in the cloud and working from anywhere, at any time.
Trust accounting is simple and unavoidable in property management. You must always pay your owners and suppliers, send statements, and balance your accounts. When using a server-based system, this process can take anywhere from two hours to half a day. Every week, that's hours of lost productivity!
In contrast, using a cloud-based system with trusted accounting workflows and automation for bills, disbursements, and reconciliation can significantly reduce manual data entry and simplify your workload.
You live in a mobile world as a property manager, constantly meeting with clients, inspecting properties, and commuting from one location to another. That is why it is critical that your property management software includes mobile apps that allow you to quickly access property and contact data, conduct inspections, manage maintenance, respond to emails, and alert your team with a single tap if necessary.
Another important property management software feature is streamlined communications, which will help you provide a better customer experience. After all, communication is the key to any successful relationship, whether professional, familial, or between property owners, managers, and tenants.
Your software should, at the very least, support customisable templates, message automation, Owner access, and Tenant access, allowing your clients to log in whenever they want to see a real-time view of their property and financial data. You'll spend less time looking for information and more time cultivating great relationships this way.
Another important aspect of property management is maintenance. As a result, it should be an essential component of your property management software. From adding images of jobs to be completed to assigning jobs to sending messages to your suppliers, you should be able to track jobs from start to finish.
Not only is this workflow completed in a few simple steps, but you also have automated features such as Job Quotes, which allows you to easily and efficiently request quotes from multiple suppliers with the click of a button.
Routine inspections, as well as entry and exit inspections, are important for the maintenance of your properties. This process should be automated by your software so you don't have to sit there calculating distances and drive times from one property to the next. Given a specific start time and the properties that need to be inspected, it should automatically calculate the best route for your inspection day. Your software should also be able to generate entry and exit reports as well as beautiful inspection reports for your owners, complete with photos and comments.
Failure to balance and comply with legislation as a property manager can result in hefty penalties and even licence revocation. As a result, it's critical that your property management software includes compliance management features that allow you to easily track and manage compliance tasks like smoke alarm checks, pool safety, and insurance expiry dates.
Furthermore, as part of your trust account audit, you must report on whether your trust monies' records have been properly kept and whether there are any discrepancies in your trust account. Your property management software should include features and warning alerts that will assist you in staying on top of your portfolio and maintaining a clean digital paper trail.
Even if you're using the most user-friendly property management software, it's natural to have a question or two from time to time. Your property management software provider should have a comprehensive online knowledge base that you can access 24/7 to help you find the answers you need as quickly as possible. If you still can't find the answer, you should be able to log a support ticket or request a call back to avoid having to wait on the phone.
A well-designed hospital management system includes numerous scheduling options to help physicians and patients communicate more effectively. You can keep track of the appointment history and the doctor's notes by logging all of the visits in the system. Furthermore, the same platform sends reminders, follow-ups, alerts when lab results arrive, and suggests scheduling an appointment as needed.
The best property management software systems include extensive migration tools that allow you to transfer your portfolio data from one system to another in a matter of hours. This eliminates human error from the migration process and ensures that your data is never exported for manual data entry. Furthermore, for peace of mind, your agency should receive a customised training plan, a single point of contact, and priority support during the on boarding process. Learn more about data migration for property management.
Because you handle a lot of sensitive data as a property manager, it's critical that your property management software has advanced data security. To reduce the risk of a breach, ensure that your software hosts your data has multiple layers of security, such as two-factor authentication, 128-bit SSL encryption (the level of encryption used by banks), notification of unknown logins, advanced firewalls, and physical security measures. Furthermore, your software should enable you to manage user permission levels and revoke access as needed to ensure top-tier security, such as when a team member leaves the agency.
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