Why You Need to Be Utilizing Property Management Software

Posted by on Jun 20, 2016 in Blog - Commercial Investment Properties | 0 comments

Why You Need to Be Utilizing Property Management Software

Why You Need to Be Utilizing Property Management Software

Commercial real estate investors can save thousands of dollars each year and potentially hundreds of thousands of dollars over the long haul by serving as their own property managers. Granted there’s a significant investment of time that comes with doing building maintenance, repairs, and paper work but for many investors the risk is 100% worth the reward. If you are going to be your own property manager, the most important right-hand man you can integrate is a property management software program.

Property management software is a trusty assistant that never has to leave early to pick their kids up from school or comes in hung over 3 of the 5 days of the week. It helps you manage risks, assign and coordinate tasks, opens the lines of communication, and makes your life as well as your tenant’s lives incredibly easier. If you haven’t yet integrated property management software, here’s why you should:

To Manage Risks: property management software isn’t necessarily just for convenience, it’s for safety as well. The applications allow you to track your exposure to liability and to ensure your certificates of insurance and similar documents are up-to-date and valid.

To Set Targets and Deadlines for Tenant Service: you can document the response time between customer calls and the actual work being completed. You can analyze this data to see if you’re meeting your standards and receive push-button notifications on overdue work.

To Control Your Building in Real Time: for years property management paperwork was done after the fact, inputting completed work orders, payments, requests, etc. days or weeks after they were processed. Property management software allows you to navigate multiple buildings in real-time and view their up to date statuses as they are changed.

For the Ability to Work Via Mobile: you can enter appointments, expenses, and maintenance tasks into the central management hub seconds after you have completed them via the mobile app. You can also receive notifications and other important property data on your phone.

For the Influx of Data: it’s a data world and we’re just living in it. From sports teams to restaurants to even radio stations management is using analytics to improve their business. By capturing every piece of data about your property you can find the ideal tenants, the most valuable marketing, and do other task to make the minimum money going out optimize the maximum amount of money coming back in.

So Everybody Can Access One Central Port: just because you’re the property manager doesn’t mean you’ll be the sole person maintaining the grounds. Software apps allow one central location for other employees as well as tenants to post updates, make requests, and just communicate in general.

No matter what the costs and data conversion required to integrate a property management software program it will be worth it. The reason you serve as your own property manager to begin with is to save costs, but never forget that your time is money as well. The convenience, efficiency, and tenant satisfaction that come with the software are priceless. Contact us for some of our best recommendations on programs our clients have utilized successfully.

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