13 Reasons Property Management Software is Essential to Modern Operations

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A while back we wrote a post covering ‘7 Reasons Why I Need Property Management Software,’ covering the emerging acceptance of technology in the commercial real estate (CRE) industry.

Since then, the CRE Tech space has continued to grow. In 2015 alone, CRE Tech startups raised over $1.7 billion, according to venture capital researcher CB Insights. But oddly enough, many companies are still behind in tech adoption.

This is surprising because the things we wrote about just over a year ago (wow, how time flies) are still incredibly relevant.

In fact, 73% of CRE professionals surveyed in our Tenant Relationship Management Survey Benchmark Report believe that an automated/online work order management system is the most valuable tool for delivering excellent customer service.

So it begs the question: why are some organizations still behind in CRE Tech adoption?

The answer: it isn’t always easy to tell how CRE Tech solutions like property management software can help your organization.

Sign up for a demo and see for yourself how Building Engines Property Management Software can help you improve tenant satisfaction, reduce costs, and streamline your operations.

What’s your problem? Here is how modern property management software can solve it:

  1. Your tenant service isn’t as fast or as consistent as you’d like.

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    Property management software empowers teams to create a technology-driven service delivery program, which automates many of your day-to-day operational activities, streamlines service request workflows, tracks tenant satisfaction and gathers performance-based service insights.

  2. You don’t feel confident that you know what is going on at your properties at any given time.

    The best software solutions give you a complete 360-degree view of property performance in an easy-to-read, one-stop dashboard that displays occupancy, COI status, tenant satisfaction, open maintenance and work order tasks, and more.

  3. Your team utilizes or tries to utilize multiple disconnected systems.

    Technology should be an asset, not a burden. A unified SaaS (software-as-a-service) based solution automatically captures daily work activity data and delivers actionable performance insights under a single login. It also integrates with other major systems (i.e. accounting, energy management, etc.), so that data is sent back and forth seamlessly.

  4. Your engineers are unable to remotely access tenant histories, tasks, work orders, documents, or building data, and can’t communicate project updates with you from their smartphone.

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    Mobility is everything. If your building engineers can access critical building information from anywhere they are, even in areas of little-to-no wireless connectivity, they will be able to complete more work without having to head back to the office, or scramble to find paperwork.

  5. Engineers and vendors often require several trips or attempts to effectively start and complete service tasks.

    A modern property management system makes it possible to perform regular work tasks in as few steps as possible. Armed with mobile devices, your team is automatically notified when work is assigned to them and can do everything they need to on-the-go. For example, if your engineer is out in the field performing an inspection and notices a problem, he can auto-create a work order on the spot from his mobile device!

  6. It is impossible to access up-to-the-moment incident reports, preventive maintenance (PM) histories etc. without having to go through and analyze stacks of paperwork.

    By collecting performance data in a centralized, online location, you can easily pull up mission-critical metrics and reports without having to search for it in paper stacks or log into separate digital systems.

  7. When asked, it can take days, weeks, or months to generate service performance reports, and deliver actionable insights into service delivery.

    A digital property management system helps you filter out the noise, quickly run reports for anything happening in your building(s) and discover actionable performance insights in no time at all, so you can focus on what matters most – your tenants.

  8. You frequently discover that a certificate of insurance (COI) has expired, or that you haven’t been keeping up with emergency readiness plans.

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    Keeping up-to-date on the COIs of every vendor that visits your properties can be a full-time job. By automating the process with software you can reduce your administrative burden, and risk!

  9. It seems difficult to imagine scaling your current service delivery process, PM, communications, and risk management plans seamlessly, without major investment.

    The best property management systems make it easy to increase the scale of your operations, as your portfolio size grows. With a good system, you won’t have to worry about the growing pains that can come from solutions that make you pay-per-module, per user, or enforce data limits. That means you can do more, without increasing costs and staff.

  10. You don’t feel that you or your property operations team has a trusted partner ready to assist you at any given time.

    There are many property management software providers out there, but a true partner understands that your success is their success, and won’t charge you for support – no matter what. In fact, they will proactively reach out to suggest ways to get more out of the system and help you reach your goals.

  11. You don’t feel as though your client confidentiality or method for storing mission critical data is particularly secure.

    Data security is a hot topic – and for good reason. Needless to say, stacks of paper in a locked room just won’t do! If you’re storing mission critical data for both your organization and your tenants, you want to know that it’s stored securely in the cloud and that your software provider is taking all the necessary precautions. SOC 2 certification is a good way to measure how security minded your provider is.

  12. In the event of an emergency, you don’t have an easy way to broadcast a message to all or select tenants, vendors, and staff.

    When the unexpected occurs, you should be ready. Modern property management software tools empower you to submit mass broadcasts to your tenants, vendors, and staff via email, text, and via a tenant mobile app, both from the web and mobile.

  13. You don’t have a front-facing website or tenant portal to help portray your brand or deliver tenant services on the web, as well as mobile devices.

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    Modern tenants expect to be able to access your property and services online. With premier property management software solutions, you can provide tenants with ways to request service, schedule resources, manage visitor access, view building details, and share their feedback from both the web and mobile, via a Tenant Mobile app.

Sound Like Your Situation?

You can learn more about how Building Engines web and mobile Property Management System can work for you and your team, by requesting a short demo. You’ll be amazed at how quickly you can see improvements to your service delivery, and your bottom line!

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