6 Steps to Choose the Software You Need

Finding, comparing, evaluating, trying out and selecting the correct 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 helping you coordinate services, collect payments and manage your budget.

It’s much more than a property accounting software, acting to integrate your entire business.  Your new platform will streamline workflow and integrate tasks while reducing errors, to help you manage properties in a professional manner. It is your step up to the professional level in 2023.

Exploring the Features you Need

In this post, we lay out an easy to understand process on how to establish/prioritize your real, actual needs for your dedicated property management software solution.

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?

Landlords and PM’s often speak of how solutions didn’t meet their needs:

• too difficult for staff to learn – intimidating, frustrating, deflating
• doesn’t fuse with company’s other software (payments/accounting)
• 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.

As these screenshots show, ManageCasa™ is easy to understand, use, and helps your staff cut their tedium, rework, and ensure time sensitive tasks are automated.

Insights Dashboard

Reports: Income Statement

How To Choose the Right Software

Making comparisons and assessments is time-consuming. Customer reviews and ratings aren’t always honest, relevant or reliable for your sized company. Which is why a process to evaluate and select what’s appropriate and idea for your specific business is wise. Reviews can be well meaning, but each landlord/property manager/HOA manager has unique portfolios and resources.

When you drill down, and trial a software product, you discover how important simplification and time savings are.

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:

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.
 

We’d be delighted to hear your questions about property management software features and productivity.

Schedule a Software Demo Now.

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