Top 10 Benefits of Cloud-Based Property Management

As a property manager, is your head in the cloud? If not, it should be.

Leading managers and businesses around the world are turning to cloud-based property management solutions to make their operations more efficient. That includes thousands of REITs and property management firms looking to add value to their portfolios.

Wondering how online property management software could help boost your bottom line?

Here are the top 10 benefits of cloud-based property management solutions:

1. Reduced Costs

Cloud-based software means you can eliminate capital expenses related to IT infrastructure. Instead of spending money on IT personnel or extensive hardware, providers will take care of maintenance and upgrades. And the initial set-up is simple. You’ll also see additional savings by taking services like tenant acquisitions and rent payments online, increasing efficiency and accuracy, and cutting out the paperwork.

2. Time-Saving

Automating complex processes and repetitive tasks saves valuable personnel hours. Rather than getting bogged down with faxes and phone calls, you can instantly send e-notifications and reminder emails, as well as digital reports and documents. Automation also reduces the risk of human error, so you don’t have to sift through paper files to identify – and correct – mistakes.

3. Increased Security

Proven property management software will ensure that important data is kept confidential and secure. Whether from damage, loss or cybercrime, cloud-based solutions have you covered, with frequent backups, and leading-edge firewalls and encryption protocols.

4. Better Visibility & Reporting

Online property management offers unparalleled access to accurate, up-to-date, real-time data about your buildings. Access comprehensive reports and analyses quickly and simply, from one powerful tool. You’ll get the insights you need, across your complete portfolio, to make informed business decisions that will improve your operations, marketing and finances.

5. Scalability

Modern software solutions suit all types and sizes of properties. They’re built to grow with your business, so you can easily expand and upgrade as necessary. Cloud-based property management solutions are modular, so you just use what you need.

6. Anywhere, Anytime, Real-Time Access to Information

With a cloud-based property management solution, you won’t have to wait for office hours before checking in on your properties. Access all the data you need, from anywhere, at anytime and on any device.

7. Less Paper, More Green

Going paperless significantly reduces the cost of operations. You can cut out the expense of printing, storage, transportation and paper itself – not to mention unnecessary administration time – in favour of secure, backed-up digital files that are easy to search.

8. More Organizational Productivity

Companies that embrace data-driven decision-making are far more productive than companies that rely on low-tech solutions. By investing in technology, managers are free to look beyond day-to-day operations and tasks, and focus instead on property management leadership.

9. Better Customer Service

The benefits of the cloud go beyond increased productivity. With streamlined, user-friendly resident portals that offer services like online rent payment and maintenance request submission, property managers can promptly respond to tenant concerns and make life on the property as convenient as possible. Keeping residents happy helps improve retention, minimize vacancy and maximize revenue.

10. Increased Competitive Edge

Adopting cloud-based technologies increases business intelligence while decreasing administration time. These tools will enable you to effectively and inexpensively improve internal processes and resident relations, making your property a desirable place to live

.To learn how our cloud-based property management solutions can help increase your profitability while cutting costs and positioning your business as an industry leader, sign up for your account today or give us a call.