How do you choose the best property management software for your portfolio?

100% This is a vital first step in choosing an app. The app you choose needs to fulfill YOUR specific needs. Understanding those needs is the only way to know if an app is right for you. We specialize in NYC building compliance, and our clients have tons of specific compliance requirements and regulations. Regular property management apps can't help them manage everything they need to take care of to be compliant. Through identifying their needs, we created an app with features designed specifically to handle NYC building compliance tasks in an easy, efficient, and streamlined way. So best advice in choosing an app: Ask yourself, what does my company need? The answer to that question will help you determine the best app for you.

Assessing your needs is an essential step in choosing the best property management software for your portfolio. To do this, you should evaluate the specific requirements of your properties, such as the number of units, tenant communication preferences, and maintenance management needs. You can then research and compare different software options, paying attention to features like rent collection, accounting, tenant screening, and reporting capabilities. Considering user-friendliness and customer support can also help make your decision easier. By following these steps, you can select property management software that meets your specific needs and helps you manage your portfolio efficiently and effectively.

When comparing and evaluating different property management software options, it's important to focus on the features they offer and how they meet your specific needs. Essential features to consider might include rent collection, accounting and finance tracking, tenant communication, maintenance management, and reporting and analytical capabilities. Online listings, advertising tools, user-friendliness, and customer support can also be critical factors. By taking a concise and straightforward approach, you can easily compare software features and make an informed decision when selecting a property management software platform that best matches your needs and requirements.

Reading reviews and testimonials can provide valuable insights when selecting property management software. Look for comments about the software's features, reliability, and ease of use, as well as customers' overall ratings of the software. Be aware of any common issues or complaints mentioned in multiple reviews. It's recommended to read reviews from different sources to reduce bias and form a well-rounded opinion of the software. By taking a straightforward and concise approach when reading reviews and testimonials, you can gather useful information and make a more informed decision when selecting property management software.

Requesting a demo or trial of property management software is a great way to test its features and capabilities to determine if it meets your needs. Compile a list of your requirements and evaluate how well the software aligns with them. Consider the available support and training from the vendor, as well as the trial period's length and associated features to help make an informed decision. Take advantage of the free trial period to test the software in a real-life scenario, and assess its performance and usefulness. By requesting demos or trials of property management software, you can select the platform that best meets your specific needs with confidence.

Once you've crystallized your needs and researched software options, demos are the best way to see what will work for you. You can do research ad nauseam, but until you try it, you won't know. And without trying it out, you won't know if its interface is intuitive or clunky, easy or hard to use.

Another thing to keep in mind is how easy it is to use and what support is offered. When a new app is introduced to your entire team, you don't want to be busy training them on how to use it. So, pay attention to what kind of support and training the app offers, as not all training is created equal. And nor should they be. Different teams need different kinds of training. Like your 1st step, know your team and make sure that the app you choose is able to provide training that aligns with your team's needs. At the end of the day, pick an app that is designed to be super intuitive and easy to use and provides either (or all) of the training options, such as in-app tutorials & support. Some may even offer in-person training for your team.

Your standard operating procedures and operating plans may be in place and your software may require that you change some areas. Be fluid and adaptable where appropriate as you integrate your software into your operations. Solicit feedback about the user experience from all stakeholders - residents, vendors, owners and employees. If they have pain points, go to school on your software and understand the best way to mitigate said pain points and be an educator, advocate and ambassador for your software just as you would your company.