5 Keys to Choosing the Right Property Management Software
Choosing the right property management software can be a difficult process. Whether you are a property management company looking for a solution to manage your portfolio, or a board member of a HOA or Condo Association, you want to be sure you choose the software that can work for you.
You can find countless software solutions to manage you property on the Internet. How do you make the choice? Which one is right for you? Below are 5 things to look for when evaluating property management software:
1. Flexibility
As you look to manage property you want to be sure that whatever solution you put in place, it has the flexibility to adapt to your needs and wants. Too many solutions out there work, if you do it there way. They don't have the flexibility to work with you. You want to manage the way you want to manage. You may want an Assisted Property Management Solution, you may want full service management, and you may change what you want as time goes. Make sure the solution you put in place can adapt to what you want.
2. Ease-of-Use
This almost goes without saying, but a solution that is easy of use, simple and logical is a must. Not only do you personally want to avoid spending a great deal of time learning the software, but you don't want others in your firm or Association to spend the time. An intuitive solution makes sense. After all, there may be many users of the software and you cannot spend time training each one of them.
3. Controlled Access
The software can be a repository for all kinds of information, from financial records to alarm codes and PIN numbers. You need to be able to control who has access to which parts of the site. Some may have administrator level access and see everything, while others are basic users that do not need to have all bits of information. A site that allows you manage all that information and control who has access makes sense and can make life easier.
4. Email Reminders
A big part of property management is making sure different things get done. Whether if be renewing the property insurance, testing the fire alarms, following up on an issued violation or any number of other activities that go one at a property, it needs to get done. Chose a system that will let you not only manage these activities, but will proactively send out emails to make sure interested parties are aware and take action.
5. Property Website
This day in age with 24x7 access to just about everything, there is no reason whatsoever that your properties should not have a website. A website is a perfect tool for sharing information. Host a calendar, list contacts, documents and more. Let the owners and residents have access to the information. This will provide users with the immediate answers to their questions and will reduce the phone calls and emails drastically.
These 5 items are key to looks at when evaluating management software. They are listed in no particular order, as people will value the features differently. Know, however, that each one of these 5 are key to consider when looking at property management software.
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