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5 Trends in Software for Property Management

 

When it comes to making the most out of your investment; keeping up with technology and trends in the market plays a leading roll in success. To help make the most of your investment, we’ve come up with a list of five trends in software for property management.

  1. software for property managementPayment Automation – a few years back it was a scary thought to insert personal information like credit cards, home addresses, or social security numbers into online fields; however, today it is common practice. People are beginning to utilize the Internet so much so that they are managing almost all aspects of their lives from the palm of their hand via smart devices. So as this trend of online life style progresses, so should you with your capabilities for accepting payments. With the radical increase in number of online purchases and transactions, enabling your tenants and residents by having an automated payment system in your software for property management is almost becoming an expectation.

  2. High Value Implementation Approach – the property management world is starting to see another trend in the market of how the software providers help their clients/perspective clients maximize their investment with their product. By providing tools to enable clients, things like virtual trainings and express package offerings can go a long way, especially if done so at the lowest possible cost.

  3. Business Intelligence (BI) for the Future – When it comes to BI, this information is essentially gold for companies looking for future business direction. One important form of software for property management that can help increase BI is budgeting and forecasting capabilities. This software has a high value, especially in terms of BI, because it enables companies to understand different scenarios that may occur in the future given various assumptions.

  4. Self Service – Like the point made under “Payment Automation”, clients like the ability to have access to their accounts and manage things themselves, especially from the convenience of their smart devices. By allowing tenants and residents to have access to accounts online through a portal, you will be engaging in the enablement of technology. This enablement through your software for property management may also help drive higher tenant and resident retention rates.

  5. Software-as-a-Service (SaaS) – If you haven’t picked up on this by now, technology, ease of use, and ability to always be connected are the major trends in the software for property management market. SaaS is a product that incorporates all three of these trending elements. It allows clients to use the software by accessing the it online. Rather than having to implement, self-host, and manually update the software themselves, all this is done manually by the company hosting the software. As long as clients have a computer and access to the Internet, their software for property management will be accessible anywhere and at anytime.

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