Managing properties can be a daunting task without the right tools. Using and selecting the best property management software is a good choice but it's also a long and tedious process, especially if you don’t know what to look for, as the market for property management solutions is vast and there are many software providers.
With the right property management software, you can streamline your workflow, save time, and last but not least, grow your business. However, with so many options available on the market, choosing the right one can be overwhelming. So what are some essential tips for choosing the right property management software?
Let’s go over some examples together in this article.
Identify your needs
Before choosing property management software, you need to define your needs. Start by assessing the size of your business, the amount of properties you manage, and the number of tenants you have. Ask yourself what features are essential for your property management needs. Then you can start considering the features you require, such as online rent payments, maintenance tracking, tenant screening, and accounting tools.
Understanding your needs will help you narrow down your options and choose the right software that meets your specific requirements. It’s also worth taking into consideration your future needs, as your business will start to take off. Make sure it can handle your current portfolio size and has the capacity to manage more properties as your business expands.
Consider user friendliness
The best property management software is one that is easy to use. Look for an option that has a user-friendly interface and a simple navigation system. A user-friendly software will save you time and effort, and ensure that you can manage your properties efficiently without having to spend important, extra time figuring out how to use the operating system. As a bonus, you can check if the software offers mobile access, as this can be helpful if you need to look at any information on the go, or if you have tenants who prefer paying rent using their mobile devices.
Evaluate customer support
Customer support is an essential factor to take into consideration when choosing the right property management software, as the software may have a few glitches from time to time, and you might need help when trying to resolve these issues. It’s assuring to know you have the support as a customer - this can not be understated! Look for software vendors that offer excellent customer support such as phone or email support, and live chat or a knowledge base. This will be helpful in the long run as it can assist in solving problems more efficiently.
Security and data privacy
Property management software stores sensitive information such as personal information on tenants and owners, rental agreements, and financial records. Thus it’s crucial to choose software that offers strong security features and data privacy protection. This will not only protect you, but it also protects your tenants.
Try looking for software that offers features such as two-factor authentication, data encryption, and regular backups. As a bonus, you can check whether the software complies with relevant data privacy laws and regulations, such as GDPR and CCPA.
Check for compatibility
Your property management software should integrate seamlessly with your other business tools. Make sure the software you pick is compatible with your existing systems and software. It should easily integrate with your accounting software, tenant screening tools, and other relevant systems. This will save you time and help you streamline your workflow.
Read reviews and get recommendations
Another key factor in choosing the proper operating system that meets your needs is doing your research. Try reading as many reviews as possible about what other users are saying about the software. Getting recommendations from other landlords who have used the software before can also help you in making an informed decision when settling on property management software. This kind of research can provide valuable insights into the software's strengths and weaknesses and whether it is suitable for your requirements.
Conclusion
Choosing the right property management software can be a game-changer for your business. By following these tips, you can select the software that meets your specific needs and one that can also help you grow your business and make it flourish.
A property manager can help you choose the right property management software by providing recommendations, evaluating software options, and providing ongoing support. By leveraging their expertise, you can implement the software smoothly and make an educated, well-informed decision.
Named one of the Best Property Management Companies in Chicago, Landmark Property Management is a full-service brokerage with a reputation for going the extra mile for our clients. If you need help, have any questions, or are interested in learning from the best property management company in Chicago, don’t hesitate to reach out! You can contact us at Landmark Property Management via phone at 312-313-8553 or send us an email at office@landmarkrgc.com
