Property Management Software
The cloud can help you attract new tenants to lower your operating costs, make administration easier, extend services, increase manager mobility, and make property management that much easier.
What is the new definition of property management software for SMB landlords? It’s cloud based property management software. Below, we describe the benefits more fully. It means you can confidently use technology to manage your properties.
How to Attract Younger Tenants
You can raise renter demand by introducing a cloud-based, tech friendly service with perhaps, high tech amenities such as smart home technology. You can use new landlord apps and other real estate apps listed below.
Young renters are making up more of the tenant pool today. This makes cloud based property management software that much more valuable because younger renters want digital amenities. For them, it’s a matter of convenience. They don’t want old school processes.
Cut Your Property Management Service Fees
Investors too, are seeking new property management companies who can access this huge pool of renters. They also want a property management company which will deliver lower fees, better tenant management, and ever higher ROI on their rental properties.
Cloud Spending is growing at 40% per cent per year.
Maximize Your NOI
Property managers who leverage cloud-powered property management software are ensuring their business is ultra cost-efficient, scalable, and secure. These cloud features can lower operating cost and raise your NOI. Success stories tells us some are doing well with the cloud.
RMS, a niche, cloud based Property Management System in the hospitality sector, for RV parks and hotels in Australia, says it has just reached the rate of $1 Billion in bookings via its system. They attribute their success to the power of cloud based services and business
Property Management on the Cloud
If The Cloud still bewilders you, relax, it runs in the background quietly and efficiently. Cloud platforms are managed by huge IT companies such as Google, Microsoft, and Amazon. We’ll take a friendly look at the cloud in this post, so you can understand its benefits to you and your tenants.
Cloud Extends Services Needed for Modern Management
What property management software on the cloud offers you, is always-on, scalable web-based services, extended services for tenants and property managers (payment, accounting, communications, digital services as amenity) and enhanced data security.
The cloud is helping property management companies leverage technology for new services, features and profitable management
See the 6 essential cloud property management benefits you need from your cloud platform and SaaS solution below.
If the whole property management cloud confuses you, let’s take a dive into understanding this amazing technological achievement (even if you don’t have to know).
6 Risks of not Moving to the Cloud
- your property management business can’t grow (it’s not scalable)
- lower demand for your units due to low tech enablement
- high costs for IT administration and hardware
- your server-hosted site can be hacked and your data compromised
- crashes and setbacks are much easier and quicker to overcome
- better management for a mobile property manager or landlord
What is the Cloud?
The cloud is an organized system of connected computers and routers which allows the use of underutilized computing power and storage. Originally, cloud engineers wanted to leverage that underutilized power for cost savings. But in the process of growing the cloud network, they discovered additional benefits and extended services.
The cloud opened a variety of service opportunities while lowering costs. That’s a combination that business likes.
The cloud infrastructure is so powerful and beneficial, that legacy software solutions can’t compete with it. Cloud adoption is the biggest trend in the software industry. Those businesses that lag behind are playing a dangerous game with their company’s future.
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The cloud is just millions of connected computers that share their empty space and processor time to other users who need it. Yet the cloud has become much more than a giant hard drive.
Turns out that that when property management software uses the cloud as a platform, it gains a huge array of security, power, speed, and new capability. You may have heard of Amazon, Google and Microsoft’s cloud services, and they are popular.
Cloud Computing Platforms
AWS, Google, Azure, IBM, Oracle, and other cloud platforms compete with each other. Most of the websites you visit are likely stored and served from these cloud networks. They all compete to make computing cheaper, more powerful, productive, faster and more secure. That’s why the best property management software should be hosted on the cloud.
These companies have resources to make it cheap, powerful, efficient and more secure. Your business leverages the strength of this amazing computing system.
Many of the property management apps you might be using need the cloud just to be compatible with web browsers and smartphone operating systems. ManageCasa is hosted on the cloud and it gives our customers these big advantage in performance while making it a very affordable solution for you.
Check out more about what to look for in the best cloud property management software. There are hundreds of benefits, but the main ones are listed below.
If your property software is running on an old legacy, self-hosted platform, consider it a business liability and a threat.
Don’t wait for big “event” where it crashes or is hacked — that might ruin your business
The best property management companies have adopted cloud based solutions and are creating a sustainable business advantage for themselves and their customers.
In our discussion of property management apps and landlord apps, we touched on some software products designed to solve the challenges of property management. Management software is the focus of much it. However, it’s cloud based software including apps that are opening up an extended range of services and revenue opportunities for landlords and property managers.
Mention Social Listening. https://mention.com. People who mention your company on social media are often fans/brand-ambassadors and far more likely to become your next client or tenant. Their thoughts and praise are important clues as to how people feel about your firm. It’s good to build your own connections to hear what prospects are up to and thinking about. Mention is a listening ear on Twitter, Facebook or Instagram. Mention can help you monitor competitors and market leaders, as well as give you more oomph to your own social posts.
Planon Real Estate Asset Management. https://planonsoftware.com/us/solutions/real-estate-management-software/. Accurate data is important and planon software helps you collect and organize your real estate data so it more closely aligns with your organization’s goals. You can monitor asset conditions and forecast costs. Just like Managecasa, it supports global real estate portfolios with multi language, and multi currency functions. Planon helps with workspace usage, planning, integrated services management, and even sustainability management.
Follow Up Boss http://followupboss.com. A real estate CRM tool. Real estate leads are rare and precious and that warrants using a serious lead management tool. Followup Boss has a good reputation for lead management. It’s a centralized inbox where you can manage all your emails, text, and other communications from rental prospects, tenants, and home buyers. It syncs with your Gmail account. Managing your communications with all your contacts is vital for real estate agents as timelines are so important.
Stucturely https://structurely.com. Uses the power of artificial intelligence to help you qualify leads and respond to them quickly. You’re often not available to begin and carry on the conversation with prospects. Structurely, is a very smart AI app which collects information with a human like disposition. Structurely’s developers believe it is better than a human because it optimizes information gather and getting the prospect to what they really want.
Cloud Attract https://cloudattract.com. For new lead prospects or current clients, the lead conversion process is important. It’s all about looking comfortable, inviting, and providing relevant content. Cloud Attract creates and shares landing pages that generate a CMAs and listings alerts. Cloud Attracts helps you optimize real estate lead conversion process.
Showing Suite http://www.showingsuite.com. This all in one app offers more than a rental suite showg scheduling. It’s a good tool for gathering impressions from rental prospects and Realtors. It’s sms texting integration makes it even more useful.
Everlance https://www.everlance.com. Automatic mileage tracker & expense log – If you’re not accurately logging all those miles you drive, it may be easy with Everlance. Record your trips, classify them, and even create reports. You can track your routes using GPS and use the mileage reimbursement calculator.
VRX Staging https://vrxstaging.com. VR staging helps you solve a big suite showing problem. If there’s furniture or other items making it impossible for you to take great photos, VRX helps remove them to show the suite in a more desirable visualization. It’s advanced photo editing that lets you show rooms that you otherwise would never do.
Revaluate https://revaluate.com. – if you can predict when someone will move, it’s a golden opportunity to capture and convert a good lead. Revaluate uses AI to identify homeowners likely to move. For realtors or property managers looking to fill units, it’s a handy way to get an edge on competitors.
6 Essential Benefits of Cloud Property Management Software
1. Lower Cost The cloud is a network of computers which share technical computing resources. Legacy systems on the other hand need to be hosted on a local server with an administrator. That’s expensive. Because cloud systems are so vast and provide so many services, it’s comparatively inexpensive in contrast.
Savings in price is thousands of dollars in hosting, administration, and programming.Maintenance, upgrades, and more are handled by the cloud hosting company. And if you have a wordpress blog, they have the resources to ensure its fast and not easily hacked.
2. Improved Compatibility and Performance The gigantic cloud system offers many services and software compatibility benefits whether mobile or desktop, via Windows or Linux. It allows PM systems to leverage an exciting variety of new cloud-based landlord apps or property management apps.
Many of the new apps and other services are increasingly only available on the cloud. This is where computing is going. Instead of software entrepreneurs developing solutions for the old Microsoft or other achaic software, they’re zeroing in on cloud applications.
If you like working remotely via tablet or smartphone connnected to a local coffee shop wifi, you have that luxury with cloud based systems. If you want to add in a business boosting app, you can do that quick.
3. Better Security Although having data stored on outside servers may seem risky at first, the big cloud server/hosting firms such as Amazon AWS, Microsoft Azure, IBM, Salesforce, and SAP offer the latest in data encryption, firewall and other security tools. That level of security isn’t available on small local servers.
The threat of hacking is always there yet these companies have better software and hardware resources, top notch data encryption, as well as trained security professionals to better identify hackers in real time. That means they’re actually more secure.
Cloud hosting companies can watch network activity better and respond quicker to attacks originating from anywhere in the world. Let’s face it, there are bad people out there and they can hack into small proprietary systems much easier. When your legacy software connects to customers or staff, its an opening for hackers and other criminals.
4. Infinite Scalability In terms of the number of users, computing, and data storage is concerned, the cloud has infinite resources. That means cloud based property software can respond instantly to your company’s needs. No bottlenecks, downtime, and crashes due to restrictions.
No matter how many units and tenants you have in your system, it functions the same. That’s a source of confidence for large and fast growing property management companies who don’t want downtime and the frustration of hosting on a completely new system.
5. Easier Collaboration Your staff, landlords, contractors and tenants are very important. Cloud based property management software enables easy, secure collaboration with a variety of tools. You can all connect with them anytime, anywhere via any device, and everyone can access their data and accounts without problems.
6. Disaster Recovery and Automatic Updates. Your ManageCasa software is always updated negating the need for manual action from a IT technician. And if you should have a computer failure or are hacked, your system can recovered and redeployed much faster. For a large property management company, this is peace of mind is very important. Downtime can be costly.
The cloud makes online rent payment, real time accounting, easy document management, and better availability to tenants. Since mobile property management is becoming the standard, an investment in the cloud is going to make that come true for you.
That in layperson’s terms, is why cloud based software systems are a boon to property managers and landlords. Try a free trial of Managecasa and see how this can revolutionize your PM business.
Try ManageCasa and discover how a cloud based property management software creates solid business value.
See also: Housing Market Forecast | Cloud Property Management | More Cloud Benefits | How to Migrate to the Cloud | Rental Software | Property Maintenance Software | Multifamily Housing Investment | Los Angeles Rent Prices | Online Rent Payment | PM Software | Property Management Trends | Property Management Metrics | Property Maintenance Tips | UK Housing Market | Australia Housing Market | New York Rental Prices | Housing Market | Apartment Rental Prices | Best Cities for Rental Property | Texas Rental Housing| Start a Property Management Business | Cloud Based Property Software