How to Buy Property Management Software
Below is a list of questions that you can ask yourself or the vendor before purchasing property management software. This list should not be comprehensive. However, it should make it easier to set your expectations and think about the features you need for property management software.
Can the program accommodate the types of properties I manage? When you manage vacation rentals, your needs differ from those of a rental manager, whose needs are different from commercial real estate management, which manages long-term leases of commercial space.
Is this p
rogram best suited to the number of properties I manage?
If you’re a weekend landlord managing one or two rentals, you probably will not need all the features and functionality that a large property management company needs. Conversely, if you have multiple employees and multiple properties, a program designed to simplify the management of home leases is unlikely to be for you.
Can I use the software with my current system? For hosted property management software, you may need to download and install a simple program or visit a website. You may need to update the hardware or other programs before you can use the application.
Which features do I have to have and which features can I live without? Think of a list or paper before shopping, and be flexible enough to make changes as needed. Prioritize your needs. Unfortunately, finding a software program that has all the features you could ever need and works the way you expect or want it is extremely rare. Make sure your potential purchase meets your top priorities.
What are my budget restrictions? Obviously, there is a limit to your expenses. Consider additional costs, such as training, upgrades, customizations, and implementations. There are enough property management software vendors to help you find a solution that’s right for your budget.
Is the software intuitive and easy to use?
This is a very subjective question, but you should ask yourself. Only you know how well you are familiar with new applications and you should have a good idea of the overall computer skills of your employees and employees.
Is a free trial or demo version available?
You can call the provider’s website for an answer to this question. Try the program before you buy it. Note that some features may be limited or unavailable when using a trial version.
What kind of help is available if I have a question or problem?
Help can be available in many forms, so find out what’s included. Written documentation, training from trainers, an FAQ or self-help knowledge base, video tutorials, live chat technical support, e-mail or phone support, a user group, or an online customer community. Some or all of these things may be available. They can be available for free or at extra cost. They may be available from 9-5 o’clock East or from 24 o’clock 7. Inquire before you have a problem, so you do not have to worry about it if you need help.
Do I need access to my program from anywhere, day and night? You may need a travel-based solution, such as hosted property management software, or you may need multiple licenses so you can not use the program on a single computer.
How are functional requirements and error reports handled?
They want to know that customer input is valued and the provider listens to its users.
How often is the software updated and what are the update policies?
Your business is likely to change all the time. In real estate management, laws and markets are changing rapidly. Ideal would be a software program that scales and evolves to adapt to changing needs. Software that is constantly being improved is more desirable as a unified solution for all solutions that are not actively developed. If there are any changes, you should know if you need to pay again to keep up.
Hopefully, these questions have made you think and will make the buying process a little smoother. Do not be afraid to try several programs before making a decision. The property management software has many competitors, so look around.