With buzzwords like IoT, Mobility, Business Intelligence, End-to-End Integration, Sustainability and Proactive Management flying around almost every industry these days — including property management — it’s getting a whole lot easier to argue the case for why you need property management software.
In fact, most of the property management companies that we converse with are utilizing some sort of software solution, or combination of solutions, with the intention of automating processes and keeping information organized. However in many cases these systems are outdated and do not deliver the full functionality that is required and/or are not fully integrated with other solutions used within the organization. This often results in the duplication of work, and an incomplete and inaccurate view of operations.
READ: 10 Reasons Why INFO-Tracker™ Property Management Software
In our experience, forward-thinking business managers see the huge benefits of having instant access to a single source of the truth and allowing technology to do the heavy lifting, but the prospect of implementing such a system can be daunting for the following reasons:
Already have too much to do
The life of a property manager (and support staff) is already quite hectic. So the thought of implementing a complete system overhaul on top of daily tasks that need to get done, can be quite overwhelming.
Find a champion (maybe it’s you) who recognizes the benefits of a comprehensive property management system and is excited to see it happen. They will act as your internal project manager, keeping things on track and helping to rally their colleagues around “the cause”. However, it will likely be necessary to free up time for this, by reallocating some of their responsibilities to other staff members. It may even be necessary to hire a person temporarily to make this happen, but is worth it in order to establish a strong foundation for your business to continue to grow on.
Staff is resistant to change
There is really no denying that generally, people do not like change. Some will put on their game face and try to make the best of it, while others will get dragged through the process kicking and screaming.
One of the main reasons people don’t like change is because they can’t yet see how it will benefit them in the end. Be sure to take the time to speak with individual staff members or departments and clearly demonstrate how the change will make their lives better. Also be sure to lend support where needed, to make the process easier on them.
READ: How to Effectively Manage Change Within Your Property Management Firm
Business will be disrupted
Property management is essentially a service — one that requires constant attention to the needs of your customers. So it’s natural for responsible business managers to be concerned that they may not be able to effectively serve their customers during the transition to a new system.
When deciding which property management software provider you want to partner with, make sure that they have a professional services team in place who is willing and able to guide you in the best practices for an implementation plan that minimizes disruption to your business.
Initial investment cost
As the saying goes, you get what you pay for. So of course with a comprehensive end-to-end property management platform, there will be an initial investment required. Some organizations may say that they can’t afford it, which is a valid concern.
Weigh the investment costs vs. expected returns in the form of higher profit margins, greater customer satisfaction, higher employee engagement and the ability to manage proactively and achieve sustainable growth. And when evaluating potential property management solutions, be sure to carefully investigate the value provided and the benefit to your business, vs. the cost.
For specific examples of time and money saved by property management industry leaders, read: Top 5 Ways to Reduce Operating Costs in Property Management