July 24, 2018
Which Real Estate Software is Best for You?
Are you a property investor, finding the right real estate software to manage your properties is critical to your financial success (as well as your stress levels!). But with so many options out there, how do you figure out which real estate software is best for you? Read on to see the five must-have factors.
5 Real Estate Software Musts
1. It’s Easy to Use & Easy to Integrate
If you are evaluating real estate software, be sure to get a demo or a free trial. No one wants to be stuck with software that takes forever to learn. You want a solution that works the just the way you’d expect it to. Also take a look at support options. You want to be sure that if you do run into troubles you’ll get the help you need – fast! One last factor to consider: How well does it integrate with other apps and tools you already use or want to use down the road. A solution that integrates with the software and apps you already use will save you a ton of trouble down the road. Look at your social media accounts, accounting software and other key programs, systems and workflows you presently use on a daily or weekly basis.
2. It Solves Your Specific Challenges
To be truly effective, real estate software needs to meet your needs and help you manage your portfolio of properties. It can’t be generic. Good software reduces paperwork, save you time and money. When designed specifically for real estate investors, it will have solutions to tackle your biggest challenges. This means it will have a suite of tools to better market your properties as well as screen and qualify prospects and reduce rent payment delinquencies. All while improving cash flow and productivity. Look for software that includes a vendor management system, portals to facilitate tenant communication and document storage, lease management software, and property marketing tools.
3. It Doesn’t Chain You to Your Desk
If you or your team are managing your properties, you know this business is often hands-on. You are showing a property to a prospective tenant, you are on-site to let a plumber into the premises, or perhaps you are looking at a potential new property. There are countless responsibilities that take real estate investors out of the office. You need to be able to perform tasks and access information on the go. Your real estate software should enable users to get the job done, from anywhere and at any time.
4. It Improves Your Bottom Line
Real estate software must make your property management processes more efficient AND make your business more profitable. Look for a software solution that delivers on its return on investment. The money you invest in a particular software solution must be balanced by productivity gains, higher-quality leads, vacancy reductions and faster rent payments. (Take a look at how much you can save by using Property Vista. See our cost savings calculator here.)
5. It’s Got Your Back
A good real estate software solution gives you the insights you need to grow your business and reduce risk. Look for solutions with at-a-glance dashboards that make it easy to see how your properties are performing. Does it allow your tenants to pay rent online, reducing the risk of lost cheques and late payments? If not, it’s not your solution. Does the software help you improve your overall security? As a real estate investor, you know that it’s a paper-heavy business with all those leases, inspections, notices and reports. Your ideal software solution needs to have a digital document storage to go paper-less. It will keep you organized and able to find what you need, while maintaining high security and full compliance to keep it safe and reliable.
How Property Vista Helps
Property Vista provides the tools and technology you need to keep your business competitive and cost-effective. Our modular solutions enable you to choose the services you need, when you need them. By automating many of your property management processes and offering online rental lease agreements, you’ll save valuable time and resources while ensuring that all rental units are occupied and rent is paid on time. We offer real-time reporting and enhanced business security.
To see our pricing and arrange a demo, visit PropertyVista.com/pricing.