5 Tips for Smooth Property Software Migration

In today's business landscape, digital solutions are crucial, even for traditional residential property rentals. Property management software (PMS) has emerged as a key digital tool for success in this industry.

According to Grand View Research, the PMS market is projected to reach $3.04 billion in 2021. It is also expected to grow at a rate of 5.6% from 2022 to 2030. This growth is attributed to the increasing demand in the market.

PMS facilitates day-to-day tasks like tenant screening, property maintenance, and accounting. If you're considering a switch, discover five effective strategies for a smooth property management software migration to your new PMS.

1. Identify Your Need for a Property Management Software

To initiate the transition to a new property management system, start by identifying the specific requirements your new PMS must fulfill. Evaluate both short-term and long-term needs of your current rental business to ensure the selected PMS can cater to them effectively. Consider the following to pinpoint your needs:

1. What challenges did you encounter with your previous PMS?
2. Which features do you find lacking in your current PMS?
3. What are your current pressing issues that the new PMS must address?

By delineating your needs, whether related to leasing, payment collection, maintenance, etc., you can streamline the search for a PMS that precisely meets those requirements. This focused approach enables you to skip unnecessary or time-consuming migration processes and concentrate on specific tasks that align with your identified needs.

2. Choose a New PMS That Is Compatible With Your Other Systems

While transitioning to a new PMS, you may wish to retain certain systems and features from your old PMS. Software compatibility poses a significant challenge in property management software migration. Ensure your chosen PMS can seamlessly integrate with your existing software.

If you use Quickbooks for accounting with your current PMS, some new PMS options may require you to start accounting from scratch, which is not ideal. To avoid potential issues, ensure the new PMS is compatible with Quickbooks, allowing you to keep all your accounting information and records from the previous system.

3. Check the User-Friendliness of the New Property Management Software

Shifting to a new property management system brings the challenge of finding time for both you and your staff to adapt to the unfamiliar system. To minimize the learning curve, opt for a PMS that requires minimal practice and learning time. When selecting a new PMS, consider features such as usability, flexibility, customization, and mobility.

Choose a PMS that offers customization options, allowing you and your employees to tailor the software to your preferences in terms of content viewing and system usage. A user-friendly PMS accelerates the learning process. Moreover, ensure a seamless transition without concerns about system security, hardware, or software maintenance by selecting a fully-integrated and flexible PMS that facilitates a quick and efficient setup.

4. Consider Migration Time Extremely Carefully

For a smoother migration without disrupting your operations, establish a practical timeline. This ensures careful planning and avoids challenging tasks during the transition. Request an estimated migration duration from your PMS provider, enabling effective time management and obstacle avoidance.

Each migration varies, so consult your provider for a tailored timeline. Typically, the migration process shouldn't exceed two weeks. This timeline enables strategic planning, allowing you to complete essential projects on the old PMS and strategically schedule tasks for the new PMS.

5. Choose ExactEstate as Your New Property Management Software

ExactEstate stands out as a premier property management software provider, delivering modern PMS solutions on a unified platform tailored to your unique business needs. Our fully-integrated, cloud-based software streamlines rental property management, covering accounting, online payments, marketing, tenant screening, reporting, maintenance, and more.

Key Features:

1. Fully-integrated, complete cloud-based solution: ExactEstate provides all of the services you need for effective and successful rental property management under one platform. Our property management software has you covered for everything from accounting, online payments, and marketing to tenant screening, reporting, maintenance, and so much more — making migration fast and simple.
2. Fully compatible with real estate management tools: ExactEstate is flexible and compatible with a wide range of other real estate management tools, including accounting, payroll, marketing, and reporting tools. You don't have to worry about losing any information or data from your old PMS, since ExactEstate allows you to keep and use your tools for greater usability and a more cohesive user experience.
3. Extremely customizable: ExactEstate enables customizability and provides you great control over how you access and use the PMS, such as control over user access, user preferences, reporting, navigation, and more. ExactEstate allows you to choose how you want to view and navigate the system — making learning and understanding the system easier for you and your staff.
4. Fast migration: ExactEstate is designed to have a fast migration process since we know that every hour counts. The fast and easy migration process allows you to resume your day-to-day management as soon as possible and allows you to get back to concentrating on expanding your business and boosting earnings.

Contact Us Today

At ExactEstate, we understand the challenges of transitioning between PMS platforms. Our dedication to simplicity and efficiency ensures minimal downtime and frustrations during the migration.

Book a demo today and explore firsthand how our cutting-edge property management software can provide comprehensive solutions, empowering your residential rental property business for unparalleled success.