Five Signs You Might Need New Property Management Software

Property managers rely heavily on the help of their property management software to be the most effective company they can be. Software products are not only held responsible for performing a list of tasks on a daily basis, but also expected to carry out these jobs correctly, and in an organized manner. Tracking current tenants, posting accounting entries, crediting bank accounts when a check is written, and producing accurate reports that are professional in appearance are just some of the jobs property management software can tackle. With such a functional device at your fingertips, it could be much easier to get all your tasks finished in a fraction of the time. It also allows for the dismissal of paperwork altogether, which saves both time and money. Property managers have deemed these software solutions highly valuable, taking into consideration the benefits offered.

But what happens when a software product can’t do the things that other leading software solutions can do? How do you know when it is time to switch to a new software? Here are some things to consider when re-evaluating your property management software solution.

· Accessing information - What if you’re in the field when you unexpectedly realize that you need to access information on a tenant in one of your properties? How easy is this for you to do? Can you use your laptop in the field yourself, or do you find yourself relying on your office staff? What if it is after hours and the office is closed?

· Re-entering information – Do you or your staff find yourselves entering the same data, sometimes twice a day? If so, you may want to think about finding integrated software that consolidates all areas of property management. Find a software solution that follows the NED2 philosophy (never enter data twice).

· Clear and accurate reports – Does your accountant have to manually create owner reports within a spreadsheet because your software is unable to produce them? It is understandable that sometimes a customized report is desirable, but as a standard practice, your software should be producing all reports without any problems.

· Up-to-date technology – Anyone can see that the technology industry is rapidly growing. It is likely that some current software products only do a portion of what newer products are able to do. It is important to find software that is constantly adding updates and features, free to all customers.

· User capacity – Does your software have unlimited users? Can you add these users into the system with ease? Your company’s growth should be a great thing, not a hassle. If you find yourself frustrated when trying to work new users into your database, maybe your software isn’t making the process easy enough for you.

Does your property management software do everything you need, want, and ask it to do? If your current system doesn’t meet the criteria mentioned above, it may be time to start looking at other software out on the market. Stop wasting time managing your business, and let a software solution help grow your business!