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Choosing the Right Property Management Accounting Software

Posted on 12. May, 2011 by Mary Girsch-Bock in Technology

Has your current property management software program been giving you more problems than solutions? If so, you may be ready to look for new property management accounting software. Before you do anything, take a brief inventory of your needs, your employee’s needs, and what you absolutely have to have. If you’re not sure what you need, take these suggestions under consideration.

Remote Access
In my eyes, Remote Access is not negotiable. Being able to connect from anywhere is an absolute must these days, particularly for property management firms that traditionally deal with employees working in remote locations in different parts of town, or, in many cases, different cities and states. To ensure that all of your remote workers have the same access to the same data, invest in web-based software that is as easily accessible from Chicago as it is from Miami.

Portals
Think about how much easier your job would be if tenants could log into a secure account to pay their rent, check for any messages and send in maintenance requests. Just slightly less important than remote access, tenant portals allow your tenants to become more rather than less involved with the community, as they will have instant access to resident newsletters, rental information, and can have their own rental account set up and easily accessible.

Electronic Bill Payment
While companies that manufacture paper checks may not be too happy about this feature, paying bills electronically saves paper and toner costs, eliminates lost checks and delayed payments, and make it easy to track payments made. It also eliminates outstanding checks on your bank reconciliation, making that process a whole lot easier.

Website Integration
While almost any program provides some web access, you want to look for a software program that actually integrates with your company website. True integration allows potential tenants to browse your website, take a peek at floor plans and any property videos and photos you may post, and even arrange to view a specified unit. Some companies even post property diagrams where applicants can see which apartments are available and choose the unit they may be interested in. This also works well with single family homes, where an interactive map displays exactly where the home is located, allowing applicants the ability to choose whether they wish to look at the property prior to contacting leasing personnel.

While there are a lot of other features that may be on your ‘must have’ list, purchasing a software product with these features will eliminate the need to look at software again in the foreseeable future.

Tags: Accounting, Technology, tools, web-based