In many of my previous blogs, I have pointed out that using good rental property management software impacts a property management company in many positive ways. Well now a recent survey has pointed out it actually helps property management companies grow. Software Advice has published the results of the survey on their website showing various technologies that growing firms are using.
One quote that stood out to me was, “Companies who used property management specific software managed an average of 102 units per employee. Those that used generic software or spreadsheets only managed an average of 61 units per employee. We acknowledge there are other factors to consider here. But we’re firmly in the camp that an integrated software system frees up property management employees to do more tasks.” This certainly shows that a company using a well integrated property management program can do more with less people.
Over 60% of the growing companies surveyed used a property management software product. Other technologies were listed as well, including emailing statements, electronic maintenance requests, online rent payments, integrated accounting, tracking leads electronically, and auto-posting to Craigslist.
One respondent said, “I feel web based software is coming of age …”
I found the survey very interesting and encourage you to check it out. Staying on top of what is happening in technology is a good idea for any company, but it is essential for a property management company, since increasing the number of units being managed without increasing costs at the same rate is ultimately the goal.
For some tips on researching what products are available today, check out my blog Picking a Property Management Software Solution or checkout our web based property management software as an example of a fully integrated solution.
Rob Crichlow
DIY Real Estate Solutions