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The Right Property Management Software

6 Steps to Choose the Right Software

Finding, comparing, evaluating, trying out and choosing the right property management software is the most important process ahead of you in 2023.

Your software is vital. It’s the very foundation of your business from coordinating services to collecting revenue to managing your accounting. The more focused it is on easy workflow, integration and reducing errors, the better your business will perform.

And there’s more. The software you choose must respond to the biggest challenges facing your business: retaining and training staff quickly, reducing workloads, minimizing cost of staffing, aid in building new revenues, achieving regulatory compliance, and optimizing operational efficiency.

Exploring the Features you Need

In this post, we explore a process on how to establish your real, actual needs in a dedicated property management software solution and help you prioritize them.

Let’s begin your purchase journey by prioritizing the essential features:

The Most in Demand Software Features

  • simplified UX requiring less training and personal expertise
  • comprehensive dashboard helping staff get more accomplished
  • powerful, dedicated property accounting module with smart automation
  • online rent payment and bill payment functionality
  • marketing and vacancy listing advertising
  • leasing management and improved turnover management
  • easy management of online maintenance requests and scheduling
  • online portal to enable tenant self-services

What Do Property Managers Not Like about their Software?

Property Management Software Screen

Top Complaints about Software for Property Management

  • too difficult for staff to learn – intimidating, frustrating, deflating
  • doesn’t fuse with company’s other software
  • promising much but not delivering real-time and money-saving results
  • software oversteps its true core competencies and thus creates more problems
  • time-consuming migration and adoption process
  • tenants, investors, and contractors not liking it

While software buyers want bells & whistles features, it’s the core services that get business done well.

How To Choose the Right Software

Comparisons and assessments are time-consuming and reviews and ratings aren’t always honest or reliable. Which is why you’re doing the legwork yourself at this point.

A good SaaS solution such as ManageCasa™ lets you re-invest more of your time and funds to your key business activities that actually help turn a profit.  The end goal of any purchased software product is performance and profit. ManageCasa will help you reduce property management cost.

Let’s review what you actually do need. It’s the essence of smart management.

A 6 Step Review Process:

  1. establish what you need the software to do for your business such as those tasks that are mission critical and other services you’re not doing well now – lease management, double-entry accounting, lease based accounting, automation for bills, disbursements and reconciliation, online rent payment, and flexible insightful reporting, along with effective tenant communications
  2. determine whether it will work with your current software, partners, etc. and if it’s scalable for growth
  3. assess whether it’s easy to use, intuitive, and determine whether your staff will like it
  4. ascertain whether and how it helps you meet your state regulatory compliance and financial requirements
  5. determine its accounting capabilities and whether it can help you manage your expenses well for each individual property
  6. determine whether it will reduce your administration time or if it’s built to nickel and dime you out of money with escalating charges

Major Property Management Platforms

There are numerous software products for purchase, some designed for the large enterprise space, some for mid-sized property management companies and some is categorized as landlord software.

This list is not updated however companies introduce improvements and upgrades slowly and raise prices. In many cases, apps and services are available for extra fees. You’ll need to validate and verify each app included and what you’ll need to complete your solution.

Key Software Features to compare and evaluate:

ManageCasa
BuildiumAppfolio
Propertyware
Platform
All-in-One Property Management Software
Multi-LanguageXXX
Multi-CurrencyXXX
Global Time-Zone supportXXX
Property
Unlimited Properties✔ (average $1 per unit. No monthly minimum)✔(average $ 1.8 per unit. Minimum $ 48 per month)✔ (average $ 1.25 per unit. Minimum $ 250 per month)
✔ (average $ 1.5 per unit. Average minimum $ 350 per month)
Single Unit Properties
Multi-Unit Properties
Multi-Purpose PropertyX
teilweise
X
Residential Properties
Commercial PropertiesXX
Mixed-use PropertiesXX
Property RelationshipsXXX
Lease Management
Capture core lease dates
Lease history tracking/managementX
Lease relationship based on lease termsXXX
Automatic lease expirationXXX
Contacts
Contact Management
Contact Management All UsersXXX
Contact related data pointsXXX
Maintenance
Maintenance Dashboard
Logging/tracking maintenance issues
Notification of maintenance statusX
Integrated communicationXXX
Dedicated discussion around maintenanceXXX
Historic tracking of status changesXX
Multi-media rich maintenance ticketsXXX
Accounting & Reports
Accounting DashboardXX
Full double-entry bookkeeping
Default and customizable chartsXX
Record invoice/Expenses(bills)
Support for Cash and accrual based accounting
Support for files & images in accountingXXX
1099 fillingsXExtra FeesExtra FeesX
Online wireFrom Fall 2018Extra FeesExtra FeesExtra Fees
Discussion
Multiple user typesXXX
Discussion framework for:XXX
– StandaloneXX
– One-on-oneXX
– One-to-manyXXX
– Property relatedXXX
– Multi-unit announcementsXXX
– Multi-building relatedXXX
– Maintenance relatedXXX
– Lease relatedXXX
Ability to add/remove users at any time in the discussionXXX
Files
File Management SystemXX
Organize Files by propertyXXX
Organize by default foldersXXX
Create folders and sub-foldersXXX
Share/Unshare FilesXXX
Share/Unshare FoldersXXX
Drag & Drop capabilityXXX
All files stored encryptedXXX
*Competitive Data as of Dec 2017

Making your Choice of Property Management Software

It’s wise to list all of the features and services needed as you see listed the above features chart. Add in those custom features you would like to have. Bold all items such as accounting, maintenance, reporting, rent payments, inspections, mobile app and automation processes you absolutely need.

Inquire with our sales teams as to the specifics if you have any unusual needs.

Keep in mind our team is here to answer your questions, help you understand your needs, as well as advise on understanding your future needs and where you might achieve substantial work improvements. See the basic software service plan which is very affordable. Add additional items/apps as required to build the ideal property management software for your business.

More than an Accounting Software

Landlords and managers put an emphasis on property accounting when researching solutions. Not surprising. Accounting excellence adds significant value to budget management and property performance not to mention achieve continuous compliance and the accurate business performance information owners can rely on.  Investigate more of that value in property management accounting software.

One way to learn quickly and deeply about all apps including accounting, rent collection, maintenance management and more is to schedule a demo of the software. Gently, slowly, without commitment, immerse yourself in the solution to better understand your needs.

At its conclusion, this software selection process may be the most important decision for your business long term success –  acquiring the right tools to maximize performance and cut work demands an errors.

Rest assured ManageCasa™ is engineered for property managers with the payment, accounting, maintenance scheduling, and tenant communications power a professional expects.

If you have more questions about how you should approach your property management software decisions, you should talk to us directly.  Arrange for a Software Demo right now.

 

Property Management | Comparison of Property Management Software | Property Management Apps | Property Management Software Pricing | All in One Software | Property Management Accounting Software | Why Choose ManageCasa?Modern Property Management | ManageCasa vs QuickbooksProperty Accounting Tips | What is Property Management? | Property Management Cost | Property Management Software

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