We’ve all been there: you have a million things to do and you decide to purchase a property management software suite to make life easier for you and your organization, but you’re not sure what to get. You do a little Googling, and you’re no closer to knowing where to even start. These are the things you need to know.
Property management software is designed to replace outdated and analog processes that are time-consuming and fraught with the risks of human error. It allows you to manage tenants, leasing, invoicing and payments, maintenance and repairs, manage files, and more. The software you choose can cost you anywhere from a couple hundred dollars to a couple thousand, depending on the level of features and ease of use you need. If you manage more than one or two properties you really need to take this decision seriously.
Here’s what we recommend: a lease-centered approach to property management software. After all, the very source of your revenue are the leases, EVERYTHING ties back to the lease. All the leases for the properties you manage need to be tracked, understood, and leveraged intelligently, and this is where RAAMP comes in. We have the ONLY software that understands this critical profit center in your business.
The right property management software will save you and your company time and money while ensuring you spend less time on crisis management and more time focusing on growing your business. While it can’t “put out fires” for you, it will help prevent those fires from starting. That is best accomplished with an all-in-one platform providing you and your business with one single source of truth.
When it comes to your finances, choosing the right property management software matters. There are several options to consider, and you must choose the right one for your individual needs. Below are some of the different types of property management software.
When choosing a property management software solution it’s smart to think about your day-to-day challenges. What things are taking up lots of time or causing lots of stress? Are there repetitive tasks that software can take off your plate? What are your business goals? Do you have time to work toward them, or are you so busy working in your business that you don’t have time to work on your business? Here are some key things to look at as you make this decision:
Consider this: your business has changed. Everything has. Have your operations and processes been able to keep up? The truth is this — we all are bound by one, immovable limitation: TIME. While your business adapts, grows, and progresses you still have 24 hours every day, and you’d probably like to spend some of those hours doing something outside of work. Your business can grow without the growing pains if you have the right tools. You should be thinking about scalability when choosing a system that will grow with you as your business expands. Ask yourself these questions as you evaluate your options:
Whether you’re renting, or managing rentals, you want to make the most of your time and money, and property management software will help you do just that. After all, managing a property is a full-time job, so you can’t afford to invest in an inferior system that requires more work and has hidden costs. The wrong property management suite can put you at risk rather than helping you avoid it. Some potential pitfalls include:
The good news is that there is a better way to help property managers and owners run their businesses more efficiently. So, whether you need to take on a new project, create new processes or just update your current setup, let us help you choose the right software for your needs.