Property management can be a very daunting task. Especially where managers are still using old and outdated tools or stale processes to manage their ever increasing clientele.
In previous years, property managers relied on USB or external drives to store,backup and transfer their data. Some even burn them unto DVD disks! Fast forward to this present days, all the above data storage methods have become outdated and even poses security challenge for those who are still using it.
Other more-progressive property managers use legacy software that they installed on their laptop. These software may run only on Windows PCs or even on Mac. However, with the advent of cloud-computing, these set of software have become obsolete and less-useful. Cloud-computing make it possible to use or consume software as a service (SaaS). No need to install anything and no need to keep getting prompted to get your software updated! That can be very annoying, you know?
Below we highlight some of the many reasons and benefits why cloud-based property management software is the way to go:
1. Reduced Operating Costs
Cost efficiency is arguably one of the biggest benefits of adopting cloud-based property management software. Most of your tasks and operations like rental reminders, accounting reports, communications, maintenance management, etc are automated for you freeing you to attend to more pressing needs.
You also reduce, if not eliminate, the use of stationery completely. Your reports are available to landlords in real time and through shared documents landlords and tenants and staff can access the document they when they need it.
2. Mobility and Accessibility of Data
A cloud-based property management software lets your team access and update records/data from anywhere, anytime, via any device. When your data is stored in “the cloud”, it’s stored in a secure network of servers that can be accessed as long as you have an internet connection. This means that you’re no longer restricted to a single computer, server, location or timezone.
Additionally, your clients will be able to access their data in real-time, whenever and wherever they want. They’ll absolutely love you for it!
3. Easier Collaboration
Collaboration becomes a lot easier for your team since they can easily access the data they need from anywhere. Tenant records, landlords, accounting, documents and what-have-you are instantly available to each of your team (as you allow) so they are enabled to work and collaborate from anywhere where there is internet connectivity.
Your staff or team member could be on-site uploading inspection photos via the software’s mobile app and you could be in the office viewing them and attaching them to reports as they’re uploaded. This not only reduces downtime but also ensures that everyone is kept in the loop.
4. Increased Data Security
The cloud security infrastructure helps you fend off threats such as fire, theft, power failure, equipment malfunctions. With traditional process or legacy property software, theft of data and corrupt or missing files are common occurrence.
A good cloud-based property management software ensures your data is encrypted and stored virtually behind multiple layers of security such as authorization and authentication gateways, physical security measures and sophisticated firewalls, including two-factor authentication to prevent and frustrate any attempt at theft or unlawful access.
5. Backup and Recovery
For property managers still held back in manual process, to backup physical files, they make photocopies and store them off-site. Those who use legacy software back them up at periodic intervals on hard drives or USB sticks. With a cloud-based software, you never need to worry about backup and recovery!
You are able to quickly recover from hardware or network failures, so that your data and software are backed up and ready for recovery. Gone are the days of manual backups that take hours on end. With cloud property software, your data automatically syncs to the cloud, making it easy to recover and restore recorded data.
6. Instant Software Updates/Upgrades
With a cloud-based software, you never need to worry about updating your property management or applying a security or performance patch. Updates are done for you automatically. When new features are launched, you get instant access to the new “upgraded” software without the need to download and install any upgrade.
The system takes care of updates to operating systems and other software, so you’re not caught with “technology downtime”. When new features are launch, you get instant access to the upgraded software features.
As your property management business grows with new services and more opportunities, the cloud lets you handle the extra storage, bandwidth, and computing demands, and opens up new apps and services. The cloud makes growing and scaling your business a breeze as storage is virtual and uncapped. Think of it as renting a room “in the cloud”; whenever you need more storage, simply rent another room!
Cloud-based property management software like Hutstack come with a lot of automation around property accounting and communication with tenants, clients and vendors. This allows you to save time and narrow your focus on growing your property management business instead.
When you invest in and start using a good property management software like Hutstack Property Manager, you will experience lots of benefits that you will never want to imagine your business without it.
There are many more benefits and features of a good property management software than the ones outlines here than we can cover in one blog post. Invest in a solid software like Hutstack and take your property management business to the next level.