4 Things to Keep in Mind When Choosing Property Management Software

Are you looking for property management software?  It's easy to get overwhelmed by all of the software tools available and can be difficult to determine what options are best for your business. As a property manager, you likely have a busy schedule and may not have the time to critically analyze all software products. That being said, it's vital to understand the benefits innovative products offer and how the right software solution could change the way you do business.

How Will This Tool Help You Grow Your Profits?

From ongoing maintenance schedules to keeping track of renters' payment information, your employees work to ensure that your business cash flow remains steady, homes are rented, and rental properties are maintained appropriately. Property management software not only helps you track what you've spent on repairs and the rental funds you've collected, it also helps you spot trends that could be hurting your bottom line. For example, you might notice that homes in a certain area always take longer to rent, and you can either plan for this or create strategies to address this problem.

How Will This Tool Save You Time?

Data management is a critical part of property management. Property management software solutions save you time during data management by providing a single consistent location for all of this data. Instead of being stored on a single computer, look for software that allows you to access this data anytime and from anywhere. Can you customize your data entry, or views of the data so that employees see what they need right away? In addition to custom features, look for features that allow you to change multiple fields at once, reducing time changing small items on a spreadsheet.

What Training and Support Are Required?

When you're considering a new software product, there is an inevitable transition period involved. With a user-friendly solution and the right support, this will pass quickly and your employees will quickly be able to use the new technology to reduce the time they spend tracking, managing, and manipulating data. As you consider new property management software, look at training and ongoing technical support that's provided and ask questions about the time others have taken to see the positive impact of this new software.

What Kind of Data Analysis and Reports Can You Create?

Data analysis and reports are great benefits of having a data management system for your property management company. Not only do you have data to reference, you can use it to look at trends. Can you look at information for a specific property or a particular neighborhood? What date ranges can you use when you're analyzing your data, and what filters can you use? Look for software that allows the most flexibility to analyze data by property, property manager, date, and other filters. Determine what custom reports you can create and whether they fit your ongoing data requirements.

You're working to create an outstanding property management company, and this requires access to data management, analysis, and reporting. Your property management software has the potential to transform the way you do business, making you more efficient and effective. When you're looking for property management software, contact Propertyware. Sign up for a free tour today.

“We wouldn’t be the company we are without Propertyware… it allows us (with only 2 people) to manage the entire business” – Jeff Shelton / 3rd Base Realty