How to Choose a Property Management Software Program

Keeping track of the complex details involved in property management can be overwhelming. However, a reliable computer software that combines all the different components needed (accounting, spreadsheets, word processing, utilities, management functions) can become a manager’s best friend! Constant repetitive tasks can be reduced to a simple click and you’ll find the volume of information the software provides will help you do your job better.

Over the past decade or so, numerous brands of property management software have appeared in the market, but not all of them are the same. With so many property management software choices out there, one can be confused where to begin. And because the industry of property management covers a multitude of areas (retail, commercial, apartments, condos, manufactured home communities, storage facilities, homeowner associations and student housing) how do you weed through all the choices and information to select the one that best suits your specific business needs?

The best way is to determine this is to ask for a demo or trial version to exercise your daily routine of tasks with the program to see if it will really make your job easier. And if your business objective is to have additional staff use the product, include them in your research and product reviews to determine how user-friendly it is. Many times top managers make decisions on selecting software without including input from the actual employees – whether in the office or field – who will be using it everyday.

Most of the property management software on the market claim to make the job easier, but do they really?

All of them provide a good selection of basic features, but it’s more important to find out how the program will work in everyday “real world” situations. The following is a list of questions and guidelines that may help you:

1. Will it make your job easier? For instance, is it easy to enter and find customer transactions? How fast can you find it when someone calls? Some programs on the market are heavy on the accounting side, but in the functionality of everyday situations they fall short. Look for the details and the functionality of running multiple features at one time with quick navigation. Be sure everything is connected with screens that allow you to connect to other information so you don’t have to go through several menus to find what you’re looking for.
2. Does it maximize today’s technology? Basically, this means how compatible is it with the current Windows applications and if it has a modern-looking interface? Microsoft® Windows has come a long way, so look for functions that take advantage of those easy-to-use features such as right-clicking the mouse for added options and a guided set-up wizard for easy installation. Also, the ability to do automatic live updates online will keep you current in the latest available version of your software.
3. How long has the software program been around? Every year, at least one new property management program appears and one disappears. Don’t be fooled by how long the company says they’ve been around. If a program has been in existence for some time, you can probably be sure it will be around in the future as well. If you’re looking for an on-line software version, be sure to find out how long they have been offering that service. This point can issue how up-to-date they are on the newest software technology.
4. Ask about end-user support. A company’s support policy speaks volumes about their program and service. If the support plan is timed, limited or overly expensive, it may indicate the program requires a lot of hours in technical support. It also can indicate a lot of high-cost training is required to use it. Training costs can be expensive and extra, so be sure to find out.
5. What are the program’s features and functionality? Make sure the software has all the features you’re looking for and that they are functional. Don’t be fooled by the advertising “checklist.” Make sure the features are robust and do exactly what you want the easiest way possible. Look for detailed features and user-friendly functions such as the ability to resize windows, correct mistakes easily and a powerful word processor to easily write letters or create templates and leases. Other necessary features would be check writing, work orders, modifying/reoccurring charges, complete transaction histories, tracking security deposits, refunds and customer facts.
6. What are startup and future costs? Before you purchase, make sure you know all the costs upfront, including training. Some programs may have low monthly fees, but their startup costs can be very high. Also find out if there are annual recurring fees and if so, what will the cost be over the next two, three, four or five years? Ask if upgrades are included in the price. Make sure the software has the capability to grow with your business and what costs are associated with that.

Another important issue to consider is to be sure the software product is going to be compatible with your business. Some software is very industry-specific even though they market themselves otherwise. For instance, the program can focus more on apartment leasing than management or it was designed for the storage industry and lacks in accounting functions. Get references and check them out!

And finally, ask around. Find out what others in the industry are using and compare notes. Go to online forums on the software’s Web site and see how customers rate it and to view its strong or weak points. You’ll also see if issues are resolved or just ignored. That will give you another indication of the company’s attitude about customer service and how they will handle your potential problems.

This information was submitted by London Computer Systems Inc.– developer of Rent Manager™ property management software since 1982. Rent Manager™ began in the 1980s when David Hegemann, president of London Computer Systems Inc., decided to utilize emerging computer technology and write the first version of billing software while working for his father’s campground and MHC. Today, Rent Manager™ is used globally in all areas of property management but is still most well-known and used in the manufactured housing industry. More product information can be accessed on their Web site at www.rentmanager.com. Contact info: Julie Savchenko, Marketing & Public Relations

Contact info: Julie Savchenko

Marketing & Public Relations

Ph 800-669-0871, x247 ◦ Cell 513-623-3158  

E-mail: julie.savchenko@rentmanager.com