6 Signs It's Time to Switch Property Management Software
Date Written: 01/23/2023
Last Updated: 02/27/2024
Running a successful residential property rental can present complex challenges and require multiple systems to manage it effectively. Property owners, managers, and staff must have a tool that intuitively organizes data while simplifying daily business tasks. That’s why investing in quality software is so important.
Unfortunately, many rental properties don’t switch to new management technology until they hit roadblocks with their existing system. Still, if you know what signs to look for, you can make the change before these problems arise!
In this post, here are six reasons to change property management software so that you can make the best decision for your business.
1. Your Current Software Is Not User-friendly
Property managers are tasked with 80% of the work associated with managing a property, including overseeing repairs and maintenance services, collecting rent payments, and any other fees that may be incurred. Since property managers already work so much, they don’t have time to struggle with confusing and outdated software.
If your existing system isn’t user-friendly, it can be difficult for even the most tech-savvy manager. An intuitive design that allows easy access to critical information is a must in property management.
Ease of use is essential to helping property managers save time and stress so they can focus more on tenant issues, prevent costly mistakes, or attend to other matters related to their position. Property managers should expect more from their software and shouldn’t have to worry about the complexity of using it.
2. You Are Unable To Handle the Influx of Data From Multiple Properties
Since property managers often manage multiple properties, the amount of generated data can quickly become overwhelming. This is where a powerful software solution comes in handy.
The best property management solutions are designed to help you compile and organize information from all your properties quickly and easily.
These systems allow for the automation of tedious tasks such as rent collection, maintenance requests, and tenant inquiries. This removes the burden of manually entering and tracking this information, allowing you to focus on other tasks more efficiently.
It also allows you to manage multiple properties from one place. You can also keep track of all the activities associated with each property and the overall state of your rental portfolio.
3. Your System Does Not Provide the Necessary Insights or Analytics
Property management software with the ability to track and analyze data in real-time is invaluable. It offers a wealth of insights that can be used to improve operations in any property business.
Some examples that powerful analytics can provide include:
- Overview of tenant activity
- Comparison of rent change over time
- The ability to track maintenance requests and completion time
- Real-time access to financial data and metrics
This instantly accessible information also guides decision-making, from tenant approvals to maintenance tasks, which are critical factors in maintaining a profitable business.
Beyond ensuring existing properties are well managed, the analytics these platforms offer can also inform strategies for expanding the portfolio and optimizing profits.
As all property managers understand, staying ahead of the competition is essential. Utilizing cutting-edge software to track and analyze data will set you up for success faster than ever. Taking advantage of high-quality property management software is your first step towards achieving that goal!
4. It Has Limited Integrations With Other Essential Tools
Integrating your property management software with other tools is invaluable in today's rapidly evolving business environment. Connecting your data to multiple sources and platforms can save time and effort by simplifying tasks and automating processes.
This allows you to streamline workflows, increase efficiency and gain insight that may have previously been overlooked. You can access up-to-date listing information from popular sites, staying one step ahead of the competition.
In addition, if something goes wrong or there's a technical issue, it's often much easier to identify when multiple systems are integrated using effective property management software. This powerful technology can help businesses drastically improve operations and make informed decisions.
5. Security Is a Major Concern
Security is essential in property management, and the best software will be equipped with comprehensive security measures. Good security features include two-factor authentication, encryption, digital signature capabilities, and access control settings, which all protect personal data from future malicious threats or unauthorized access.
While it’s tempting to cut corners regarding security measures, good property management software will ensure you are sufficiently safeguarded from external threats and insecure configurations due to human error. When done correctly, secure software protocols can be an additional layer of trust for your customers.
When your data is secure, customers feel more confident in the security of their information which is essential for any property manager.
6. Customer Service and Support Is Lacking
A shocking two-thirds of consumers have ceased their relationship with a company due to inadequate customer service. Managing rental properties can involve a great deal of communication between tenant and landlord, so having the right tools is incredibly important.
Property management software allows both parties to easily keep track of tenancy data, maintenance issues, and finances. Still, for it to be truly effective, it needs more than just these built-in features.
It should also offer user-friendly interfaces and professional customer service with helpful technical support — that way, you’ll have people on hand to help if anything goes wrong.
When property management software has customer service that goes above and beyond, it can be the difference between a successful business and one that fails.
ExactEstate Helps Property Managers Make the Right Choice
Changing to a new property management software can seem overwhelming, but it is well worth the effort. ExactEstate offers a comprehensive solution that allows landlords and property rental companies to automate their manual tasks and streamline operations.
This platform enables professionals to save time and money by simplifying standard procedures so their attention can be focused on other avenues of business growth. ExactEstate’s solution is powerful and cost-effective, making it the perfect choice for those looking for a dependable service that does more than just property management.
Below are some of the reasons why ExactEstate is the best property management software to change to:
- Advanced Property Customization: With ExactEstate, you can easily customize your properties. Our intuitive software allows you to create custom spaces and manage each detail in one place.
- Robust Reporting: Get meaningful information about your property performance with our powerful reporting tools.
- Secure Software Protocols: We employ industry-leading security protocols so that customers can rest assured that their data is safe.
- Customer Service: Our customer service team is available around the clock to provide support.
- Online Payments: As an added feature, ExactEstate supports online payments so landlords and tenants can easily transact.
It's Time to Change Your Property Management Software
To manage properties, it's essential to stay ahead of the curve using modern property management software. This will help you keep up with the changing needs of tenants and landlords.
With so many options on the market, it can be tough to know which one is right for you. That's where we come in.
With ExactEstate, you'll have the tools to manage your properties better. Don't waste another minute! Reach out to us and book an appointment for a demo to find out how easy it is to switch over from your current property management software.