Would you consider property management software a must-have or just a marketing tool? Nowadays, it is widely used by companies that manage real estate properties. It helps automatically solve important property tasks, such as resident or landlord management, utilities, and accounting.
According to Grand View Research, in 2020, the global property management software market was estimated at $2.9bn, where the residential segment made up 69.3%. By 2028 this turnover rate is expected to reach $4.2bn. So, here are four main reasons why property management software development is beneficial for the companies that manage real estate objects.
Firstly, the apartment property management software is an automatic tool. It allows the residents or landlords to manage their utility and other bills or call the staff (locksmith, plumber, caretaker, etc.) in the comfort of their home. Thanks to this innovative solution they do not have to stand in long queues at banks or communal services.
Secondly, CRM processes tend to be slow and lead to errors when done manually. However, automatic software is an innovative way to eliminate common human mistakes. This makes the work of property management companies more efficient and thus improves their clients’ satisfaction.
Moreover, the residential management software brings benefits to property managers. They can manage several apartments or even complexes simultaneously, which saves much time, money, and effort. What is more, this solution makes it easier to gain and analyze the data on each resident.
Furthermore, the white label property management software is an ideal analytic tool. It allows to observe the property’s financial performance and to process the applications for further optimizations. As a result, it is easy to understand the cons of each process and the ways to eliminate them. It is essential for achieving businesses goals. In particular, for raising Net Operating Income (NOI).
Apart from the above-mentioned pros, apartment management software is an ideal solution that creates brand loyalty. It provides several competitive advantages.
– Customer UX Improvement
Property management software invests in resident engagements and communications. For example, when it comes to installing security cameras in the apartment block or yard, it can be crucial to obtain approvals from all the residents. Years ago, such a thing would require personal meetings. Nowadays, thanks to the residential apartment management software, it is possible to vote online. It helps to improve the residents’ user experience and allows them to stay at home during the COVID-19 pandemic.
– Residential Security
Apartment property management software supplies the residents with QR passes, which is the key to their safety. In addition to this, the software provides access to the cameras in public areas. Thanks to both these tools, all the residents can be aware of everyone who is coming inside and outside the residential complex. That is why they do not have to worry about their security.
These tools provide innovative problem solutions and thus influence the final consumer decisions. Such a strategy helps to create new loyal customers among property management companies.
Considering everything, this software is a must-have for property management companies. Firstly, its online mode makes it possible to solve real estate tasks remotely. Secondly, due to being automatic, it helps to avoid common CRM errors and other difficulties. These are the keys to satisfying the customers’ needs and raising their loyalty.