Did you know that there are roughly 206 thousand property management firms in the United States? No company dominates the market because they all bring something different to the table.
A property management company offers services that might include software. However, you don’t have to hire a property management company to find software that is right for your real estate investments.
Keep reading to learn how to find the best property management software for your needs.
Look for Full-Suite Software
The best property management software is one that offers an all-in-one solution for properties. Full-suite property management software means you don’t have to add additional software to your program.
A single piece of software might not meet all of your requirements so make a list of what you need before making a final decision. If you must fill gaps, look for secondary solutions that are easy to use.
For example, if you find software you like but it doesn’t have tenant screening, use Rent Safe as a secondary option.
Consider Ease of Use
A property management company that offers software will already know how to use it. However, you need to understand how it works as well.
If you are the property manager for your real estate investments, this is even more essential to know. Ask how long it takes to migrate and adopt this software.
From there, opt for demos of your top picks to test out the usability for yourself. You can also use these demos as a chance for your staff to get involved.
Note the Cost
Property management software doesn’t come cheap but it is worth it when the benefits outweigh the cost. At first glance, you might find that software has a high upfront cost but look at it as a long-term investment instead.
Software that can save hours of your time, boost productivity, and provide a return on investment each year, is the right choice.
Figure Out Which Tasks You Can Automate
The whole point of property management software is to make tasks easier. Figure out what tasks you are doing manually that software options can make less repetitive.
Manual tasks might be dragging you down and reducing productivity. Make a list of these tasks and find software that can automate those processes for you.
Count the Tenants You Manage
Not many property managers take into account the tenants they have to manage before choosing software. This is often an afterthought but the truth is the number of tenants will affect your choice.
Some property management software is made only to handle single-family homes. Others allow you to manage multiple tenants at different locations.
What’s the Best Property Management Software for You?
In 2022, there are a lot of property management software options to choose from. The best property management software for you won’t be the same as your competitors.
Consider full-suite software, ease of use, cost, task automation, and the number of tenants you have. When you cross all of these things off of your list, you’ll find the right software for your needs.
For more real estate advice and information, check out the other posts on this website.