Property owners and multifamily property managers are always looking for ways to improve their operations and customer service, while ensuring profitability. These are the primary reasons property professionals are adopting cloud-based property management software. However, the advantages of opting for a web-based solution doesn’t stop there. Here are some of the many benefits of cloud-based property management software.
More Efficiency
Cloud-based property management software is the common thread that helps to stitch together disparate systems. It’s this new connectivity that helps property professionals to realize efficiency gains through streamlined processes and automation.
A cloud-based solution vastly reduces manual work and the keying in of information into different systems. Instead, data can be “cascaded” through the leasing cycle, from applications to leases to welcome packages, in an elegant, clean workflow. No more cutting and pasting applicant information!
Lower Costs
The primary reason property management companies and HOAs seek us out is to reduce costs. Manual work like transferring information from a paper application, processing rent cheques or updating listings are a drain on your resources. Automation drives savings of thousands and thousands of dollars in time and labour costs.
Paper-based processes are wasteful by their very nature. Paper takes more time to process, is prone to more human error (transposing numbers or lost paperwork) and requires space to store documents and administrative time to file and retrieve. Digital documents are filed in the cloud, and are safer as you can set permission levels and you greatly reduce the risk of data being stolen.
Scalability
Typically, a property management company with an on-site approach would have to vastly increase its IT footprint, with large, physical servers on the premises. This takes up space and energy, but also requires a team to set-up, maintain and constantly upgrade. Desktop-based solutions often include per-person license fees.
A cloud-based property management system means you do not have to increase any existing infrastructure. This saves your company a lot of money in hardware, software upgrades, and service fees.
Greater Collaboration
Your tenants, vendors and employees all have different needs, and as a property management firm, you need seamless communication between everyone to coordinate maintenance and repairs, and other operational tasks. Cloud based property management software enables easy, secure collaboration with a variety of tools.
You can connect anytime, anywhere on any device. Your property managers can work on-site or at home while smoothly taking care of any tenant issues, and overseeing third-party vendors.
A Single Source of Truth
A cloud-based system acts as a central repository for real-time information, so everyone is on the same page, with the same information at their fingertips. Without a singular version of the truth, teams are siloed, information can vary between teams, collaboration is impaired and the risk of poor decisions is exponentially multiplied.
Improved Security
Any data stored on a computer is subject to risk. With cloud software, if any employee laptop is stolen or compromised, all tenant and operational information is stored in the cloud, as opposed to on your hard drive. Not only does this keep data more secure, with no downtime, it means your productivity and customer service isn’t negatively impacted. Recovering lost documents, or trying to retrieve a lost database is an enormous, time-consuming task.
Cloud-based property management software means you don’t have to constantly be updating to the latest version, or downloading security patches. A cloud-based is always up-to-date. And, it’s designed to protect you from the most recent malware and hacking strategies with firewalls and by proactively protecting against future threats.
A Competitive Edge
Where property managers add value is in building relationships, with both tenants and owners. By making sure all those moving parts keep moving. When you support your staff in working ON the business rather than in the business, it enables your property professionals to focus on what moves the needle and delivers value to the building owners.
If you are looking to increase the efficiency, security and productivity of your property operations, all while lowering costs, check out our pricing and book a demo.
