Twelve Cloud Technologies Changing the Property Management Industry
Property management is defined as the coordination of residential, commercial and real estate structures, including apartments, detached housing, condominium units and shopping centers. The properties are overseen by a property manager, who acts on behalf of the owner to maintain the value of the property while increasing profitability. According to 2017 statistics, the property management industry makes an estimated $73 billion a year. About 60% of residents in San Francisco, Boston and New York are renters and nine million households have become renters in the last 10 years, the greatest increase in housing history. The property management industry has been slow to embrace innovations in technology. But investors watching the market trends are spending huge amounts of resources in cloud-based property management solutions. With mounting pressure to embrace the digital world, property managers are looking for software that is innovative, effective and user-friendly. Cloud-based computing offers both a dynamic and competitive advantage. By eliminating costs from outdated servers and manual processes, along with providing real- time data and remote access, cloud-based property management software is scalable for the future. Listed below are twelve suggested cloud software to utilize for property management in the rising renters market:
ResNexus is an all-in-one reservation and property management system that makes it simple for hotels, vacation rentals, storage units, and more to offer availability online and prevent double booking. In addition, the software also helps manage the behind experience for customers, including management features for housekeeping, guest services, and more.
Marketing360 is an all-in-one marketing suite focused on helping businesses drive sales. Combining a wide set of tools, including the ability to post ads and listings seamlessly to multiple websites and easily update those listings with one touch of a button, Marketing360 makes it easier to manage business ads and listings. Plus, with detailed analytics and a built-in CRM system, you can receive real-time insight to make better listing decisions.
ServusConnect is an app and web software that works with building maintenance teams and vendor community to manage service workloads. The app allows people on the ground to track repairs, report building issues, and helps property managers to ensure fixes are done in the timely manner. ServusConnect also provides simple integration with many popular property management and accounting software, allowing an easy introduction for employees and residents.
Pruvan enables businesses to get photos, video, and mobile forms from the field to the office fast. The main components of Pruvan: Pruvan Mobile, Pruvan Online, the Pruvan Downloader, and the Pruvan Client Portal all work together to deliver the results you need, and allow property owners to manage from afar.
Manage hotel reservations with ease with GraceSoft, a suite of tools to assist with hotel reservations, website bookings, and guest relationships. With the ability to customize the software to fit your exact property’s needs, GraceSoft was even recognized by Gartner as a frontrunner for hotel management software for 2017.
ProLease is a real estate and facilities web-based software that provides customers easy to use tools to manage their buildings. Tools provided include lease administration, equipment leasing, lease accounting, project tracking, and workplace and maintenance management. The software also integrates with popular accounting software for easy implementation.
BuildScience is the company behind Strata, a powerful software solution for managing smart systems in commercial buildings with little to no added hardware. Strata connects with HVAC, lighting, metering, security, and networks to collect real time data. Clients access the data on system operations through an easy-to-use and mobile dashboard, providing property and building managers the tools and data they need to make smarter decisions.
ClickNotices is created as a delinquency management platform targeting the multifamily housing industry. By obliterating the need for repeatedly calling and emailing, ClickNotices automates the delinquency process. Resident notifications, court filings, case management, interfaces to accounting systems, and customized reporting are some of the analytics this cloud- based software performs.
Maintenance Connection is a web-based software ideal for specialized industries like facilities management, warehouses, governmental agencies, energy developers, and health care. Maintenance Connection performs tasks such as analyzing asset life cycles, coordinating maintenance dilemmas and costs, and zeroing in on equipment failures, enabling property owners to make smart decisions.
HappyCo offers a streamlined process for property inspections in the real estate rental industry, and serves multifamily residential, restaurants, student housing, and commercial properties. It allows users to manage inspections and staff remotely, while aggregating inspection data and providing real time analysis of performance and operations metrics.
A mobile property management solution designed for commercial real estate, Building Engines is a SaaS platform that allows clients to track every aspect of their workflow while measuring tenant satisfaction. Building Engines tracks equipment life cycles, controls visitor access and property access, and provides automatic updates on process.
PayStand takes a unique approach to B2B Payments. Most payment processors are looking to profit from fees they can tack onto each transaction, such as monthly rent payments. These fees can add up and rip into company revenue. Due to our SaaS model, we are dedicated to offering an optimal ROI along with many other solutions that will positively affect your payments processing. Don’t be caught waiting around for a paper check to arrive and don’t cut into your margins by paying high transaction fees via credit card. PayStand offers efficiencies that can potentially increase capital down the line and manage schedule/recurring payments effortlessly. Easily set up rent payments for specific timeframes and execute business logic for late payments. Offer your vendors and customers every payment option as a convenience factor (ACH, Credit Card and eCheck), increase time to cash and have seamless reporting at your fingertips with PayStand.