The property management industry is going through a technological revolution. Managers are putting away their spreadsheets and uninstalling their software in favor of more powerful, flexible cloud based software.
Cloud technology isn’t new, but some industries are hesitant to jump on the cloud bandwagon—commercial real estate property management, for one. Despite the hesitation, there is no doubt that cloud technology has the power to transform entire industries. That’s why 83% of all business workloads are expected to be powered by the cloud by the end of 2020.
Cloud property management systems take all aspects of property management and combines them into a single, easy-to-use, access-anywhere application. They eliminate time-consuming administrative tasks like payment processing and maintenance tracking to make property managers’ lives a little easier. Here are some of the ways ICC Property Management says cloud property management software is transforming the industry.
Automate Administrative Duties
As a property manager, how much time do you spend organizing spreadsheets, taking payments, and checking work orders? Probably most of your workday! Administrative duties take so much time that many property owners hire employees to help with the immense workload.
With a cloud property management software solution, most of those time-consuming tasks are completely automated, helping you save time and money on labor.
Every day, you and your staff collect, process, and deposit checks. In an increasingly paperless world, why are you still handling physical checks?
With cloud software, your tenants can make their rent payment online, and the software can track who has paid and who hasn’t. Whether you manage ten or a thousand properties, you can manage payments for all your tenants from one, easy-to-use interface.
Like payments, cloud property management software can also manage and track maintenance projects from a single interface. Accept work orders, dispatch contractors, and coordinate project schedules all in one place to ensure that no project details fall through the cracks.
When maintenance projects are completed on time, you’ll provide better customer experiences, leading to happy, long term tenants.
Some property management software can be integrated with machine learning capabilities to pick up on maintenance trends. It’ll analyze your previous maintenance records and offer preventative maintenance tips based on statistics. Wouldn’t it be nice to know if your water heater is going to go out before it happens?
Simplified Record Keeping
As any good property manager knows, keeping records is essential. You never know when auditors will come knocking. With cloud software, you can get rid of those overstuffed filing cabinets because every bit of data that goes through your software is stored safely in the cloud in real time. When it’s time for an audit, all the information is right there, ready for viewing with the click of a button.
Nobody wants to be tethered to a desk. Property management software of the past needed to be downloaded on your office computer with all the data stored in onsite servers. But not with the cloud!
Cloud property management software doesn’t need downloads or servers. To access your software and files, just log in from any web browser. It doesn’t matter where you are or what device you’re using; you’ll be able to manage all your properties without interrupting your life. In the era of COVID-19, the ability to work remotely is essential.
Advanced Data Security Features
If you use on-site software and your servers crash, what happens to your data? More importantly, what happens to your property management business? Property managers maintain lots of sensitive information about their business and their tenants, and it’s their job to keep it safe.
With cloud software, you never need to worry about losing your information again. Everything is stored safely in the cloud. If your office computer crashes, you can log in from another device for instant access to all your data. It’s like an automatic backup for your information.
The Future of Property Management Is in the Cloud
With all the benefits cloud based property management software offers, it’s no wonder more and more property managers are embracing the technological revolution. They’re able to get more done in less time with fewer employees. And in these difficult times, saving time and money is a necessity.
If you’re ready to join the cloud revolution, contact the experts at ICC Property Management. We are a leader among property management companies and have been using cloud technology to provide unmatched, customer-focused services for years. Want to simplify your property management?
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