Apartment management software is supposed to make your job easier, right? The whole point is to help you schedule maintenance tasks, collect rent, check on work orders, communicate with investors, etc.
But it doesn’t always work so well. Here are a few examples of things that can go wrong if you go with the wrong provider.
Apartment Management Software Messes Up the Rent Payments
Collecting rent isn’t fun for anyone. Well- actually getting and cashing the check is kind of fun, but having to ask tenants for rent is frustrating and uncomfortable. Having an online software program do the collections for you is nice, but can have drawbacks.
For example, new, unproven apartment management software may still have kinks to work out. This can lead to lost payments, where the money actually never gets to the property management company.
Another potential issue is records getting lost. Even if the money transfers just fine, having that record to verify the transaction is helpful for all parties involved. The tenant wants to see the confirmation, and the property manager and landlord need it to identify which tenants still need to pay for the month.
Rather than taking the risk, make sure you go with a property management software system that has been around for a while. That way you can rest assured these kinks have been worked out.
Nightmare #2: The Apartment Management Software Loses Maintenance Orders
Another convenient part of having software is managing maintenance tasks. It eliminates the middleman, making it easier for everyone. The property manager can still log in to see what’s going on, but the ability to be hands-off lets them focus on other things.
The problem is when these tasks simply disappear. For example, maybe it’s the middle of the summer and a tenant’s air conditioner breaks. Even though they’re gone all day, it’s unbearably hot and they won’t be able to sleep there.
They put in the maintenance order online, labeling it as an emergency. But after a few hours of waiting, they realize something is wrong. They call the front office to see what’s going on, only to find out the task didn’t go through for some reason.
That’s a bad scenario. It may not be too expensive damage-wise, but if the tenant gets angry they can damage your complex’s reputation. There’s no reason for that to happen. All you need to do is make sure the software includes a ticket system that the maintenance team or property manager can respond with. So once that task order comes in, an employee can respond that they see the emergency and will deal with it immediately.
Nightmare #3: The Books are Lost
Let’s face it- most of us don’t like accounting and bookkeeping. It is something we all have to do, but any tool that can help the process go faster and easier is very welcome.
Some property management software can help with that. Because it’s already collecting rent for you, it’s easy to simply add everything up in an income column.
It also makes tracking other income and expenses easy. Whether it’s materials for an upgrade in Unit 13A or the salaries of your employees, having everything in one place is the best way you don’t miss anything.
Until you do.
If you rely on software stored on your computer, you risk losing everything. The computer may be stolen, which happened at one apartment complex I lived in for a while. Another issue is fire or flood, which could wipe out everything on your computer.
If you were using a cloud service, that wouldn’t happen. Because all of your bookkeeping is kept online and backed up by the service provider, you can rest assured it will be safe. If you feel safe having things on your own computer, you can always download each month’s spreadsheets.
If your business is using apartment management software, make sure it’s the best. Get on board with a cloud service that does everything you need and is constantly implementing new, exciting features to best serve your needs.