subject: Software For Property Professionals - Information And Advice On What To Consider [print this page] In theory, finding property software is easy enough, as there is lots of it available, but in practice it is not so easy because most it will not be right for your specific needs. Why is that? Because it will be either too advanced or too 'light' for your needs. Property software is not a cheap investment, so you do not want to pay extra for features that you do not need. Of course, at the lower end of the scale, the software has very few features indeed. So, it is advisable to spend 10 minutes writing out a list of what you need property software to help you do before you actually start actively looking for it.
Consider more than just price when deciding which property software to purchase. You cannot ignore price altogether, but your final decision should be based on which of the demo versions (which you can download for free) best meet your needs. Make sure that the software can do the basic things that you need, such as maintain a separate ledger for each tenant and each owner, write bank checks and deposits, maintain a vendor file, automatically post rent, management fees, and late fees.
These are some additional features too that you may want to check that the property software that you are considering has - a reminder system to keep track of appointments, the ability to log conversations and interactions with your tenants, a pop-up feature which highlights tenants and owners that owe you money. Look for the ability of the software to transfer your tenant information to an exportable file, so that you can later look up your tenant details for credit references and to log back payments. Also, you ideally want your software to make it easy to update rent amounts and account details.
Good after-sales support is important, as you will probably have some questions to ask after / during the install and set-up of the property software. Be extremely wary of any vendors who do not offer free support for at least a few months after the date of purchase. Some vendors will say that support is only offered if you sign-up for their over-priced software updates. Others charge excessive amounts after a very short free period of support expires. Therefore, it is advisable to ask specific questions about after-sales support before making a purchase.
Following these simple guidelines will help you to make your first property software purchase the right one. It will also be the last one you will have to make in a long time. So, try not to worry about spending a little extra if you have to, as it will be a good long-term investment.
