The Right Platform for Your Business
New research shows 100,000 new property management businesses will be launched in the next few years.
While most property managers are aware of cloud-based software platforms, new rental business entrepreneurs may not be aware of the full business potential of these new systems.
ManageCasa™ as an example, is designed entirely for rental property management.
What’s exciting is the subscription-based delivery known as software as a service or SaaS. It offers a full platform for property management with many essential capabilities and apps that work seamlessly together.
Property manages rely on it entirely as a foundation for their business. Instant access, automation, real time reports, and online payments are only a few of its powerful features.
The Best Software Technology
The best property management software is the few which can help you streamline, automate and scale up your business. In this post, we investigate:
- cloud-based SaaS solution offering significant cost and IT spend benefits
- full service platform covering essential tasks, with add-ons as needed
- automation capabilities to streamline daily work tasks and cut labor costs
- automated accounting and tenant rent payment
- simplified UX dashboard and task efficiency, easy for staff to use
8 Key Tasks for Rental Management
From beginner landlords and property management startups to well-established property management firms, we field a wide variety of questions about modern property management. The questions revolve around these 8 tasks:
- tenant and lease tracking
- maintenance management
- bookkeeping and accounting
- budgeting and financial management
- online rent payment
- business automation processes
- tenant relations
- software technical assistance
Accounting for Property Management
Accounting is a key function for mid-sized property management service firms. ManageCasa’s accounting features are top tier. Small to mid-sized property managers simplify these tedious tasks — for dedicated, accurate, error free property accounting.
Big Budget Software isn’t a Good Fit
Big software companies have huge budgets to advertise and convince users to adopt their solution. All too often, inappropriate users get pulled into trying the software and they’re forced to change their business model and business practices to suit that mega corporation.
The downside of mega property software providers:
- software is too complex and requires too much training to use
- service delays and language friction — they source customer service to untrained reps in foreign low wage countries
- they exhibit a lack of patience with each customer’s unique learning needs
- they lack patience to help customers migrate their solution and to solve their unique issues
- extra cost (for features you don’t really use)
- software designed for the developer’s own business goals, not yours
Perfect for SMB Property Management Teams
ManageCasa has services and automation you’re wishing for in a modern open source software:
- online rent payment and owner disbursements
- tenant portal
- automated maintenance and repair tickets
- optimized tenant lease management
- mobile management tools (inspection, rent payment, report printing and more)
Big property management software companies have typical and persistent problems from poor tech service to complicated dashboards and processes. They have their complaints:
“… Do not care about fair treatment. All they want is Money!
I have been a customer of (company) for 5-6 years. I saw them grow. Today, once they are more stable and more successful as many people gave them their trust and loyalty, and they became a robot… with no Human touch. You want to speak to someone, you need to pay extra. Otherwise, you simply create a ticket, and then you may wait for a reply for several days.” — from popular review site.
What Makes a Great Property Management Platform?
- simplicity and ease of learning
- excellent dedicated property management accounting functions
- outstanding tenant communications
- online rent payment
- cloud-based and ready to add money making services
Simplicity is a virtue in Property management.
How to Choose Property Management Software?
Your software is the foundation of your business, and choosing the best property management software means asking questions and discovering how it’s right for you:
- is it really serving small to mid sized property management companies?
- is it a full fledged, all in one platform? Can I run my full operational needs through it?
- does it have the features and benefits I need? Which are must haves and which are not?
- how much does it cost? Will costs jump too high as we scale up and add staff?
- is it installed or is it cloud-based? Data security is critical and only cloud-based platforms offer that security.
- does it automate tenant rental payments? Automated payments of all types streamline your cash flow and accounting processes.
- does it have automated owner reporting and disbursement built in? Software which automates these tasks makes work a breeze for you
- is customer support in India or is it a US-based technical expert with real product expertise? A good rep you can understand is needed.
- is there a tenant portal to let tenants help themselves? Self-help yet they can communicate directly with you while respecting your time.
- does the solution include a double-entry, full ledger accounting system? Keeping your client accounts separate and reports very accurate is important.
- how much automation does it provide? The more automation, the faster you can grow your business and raise your profit margins.
- can you scale up? Will it create bottlenecks and eat up your profits and time?
Important questions regarding property management software solutions:
- do I really need new property management software?
- how can I reduce my property management costs?
- how do property managers get paid their fees?
- how much do property managers earn?
- what are the best property management companies near me?
- which is the best property management software?
- how should I manage my tenants?
- what are the US landlord tenant laws?
- should I buy a rental property for passive income?
- which property management apps should I be using?
- how can I attract property management leads?
- how can I make my tenants happier and stay on lease?
- when should hire a property manager and what tools should they have?
- what might be best practices for an apartment manager?
- how should I write my leases and rental ads?
- what is modern property management?
- what regulations and certifications are there in property management?
- will the software do all of my bookkeeping and accounting?
- what is property management automation?
- should I venture into short term vacation rentals (e.g., Airbnb, VRBO)?
- how do I find and hire a good maintenance and repair contractor?
- what trends should I know about in property management and rental housing?
- how should I structure my property management service fees?
Surveys say growth, efficiency, communications and profit are the pressing priorities of top property management companies.
Added Benefits of Cloud Property Management Software
- Lower Cost for all Needed Services: The cloud is a network of computers which share the newest technical computing resources. Legacy systems on the other hand need to be hosted on a local server with an administrator. That’s expensive. Since 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 it’s fast and not easily hacked.
- Improved Compatibility and Performance. Cloud based system offers many services and software compatibility benefits whether mobile or desktop. It allows PM systems to leverage an exciting variety of new cloud-based landlord apps or property management apps.
- 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 and data breach is a constant threat. Cloud hosts provide fast, reliable 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.
- 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 management software can respond instantly to your company’s needs. No bottlenecks, and downtime 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.
- Easier Staff/ Collaboration. Your staff, landlords, and contractors 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 authorized users can access accounts without problems.
- Disaster Recovery and Automatic Updates. ManageCasa is always updated negating the need for manual action from an IT technician. And if your server fails or you’re hacked, your system can be recovered automatically and redeployed much faster. For a large property management company, this is peace of mind is very important. Downtime can be costly.
Rental Property Software Reviews
ManageCasa is reviewed and compared by a number of Property Management Software Review companies such as Software Advice , Capterra Software Reviews, G2 Software Reviews, and Software Suggest reviews. Most of property management software guides obtain reviews from real software users to compare the best-rated Property Management Software platforms. Catch up on the latest news and industry solutions on our blog.
Learn More about ManageCasa as a startup on Crunchbase and then proceed to learn how to buy ManageCasa Property Management software for your business.
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* the opinions expressed are those of the author and are not necessarily those of ManageCasa, its partners and affiliates.