Purchasing any software can be a big investment for your business. Property management software is no different.
With so many options, you may be wondering what kinds of software will meet your needs. For example, what’s the difference between local and cloud-based software?
You’re probably familiar with word processing software tools like Microsoft Word or Google Docs. Microsoft Word is an example of local software, which is installed directly on your computer and saves your files to your hard drive. One benefit of local software is that you don’t need internet access to use it.
Google Docs, on the other hand, is cloud-based. This means the platform relies on the internet to save your files and data. Cloud-based software is far more flexible, allowing users to share and view files more easily.
When it comes to property management software, cloud-based tools offer the most benefits for landlords. Here are the top five reasons why you should choose cloud-based software for your rental business.
Security
One of the most compelling reasons to use cloud-based property management software is security. Your hard drive is vulnerable to all kinds of accidents and liabilities.
If you lose or break your laptop, you might not be able to recover your files. Likewise, if your computer is stolen, the perpetrator suddenly has access to your property management software and all the documents stored on it. Even if your computer stays safe, hard drives are susceptible to clutter and disorganization.
Instead of risking any of these disasters, you should use cloud-based software. Cloud-based property management software ensures your files are always safe on the cloud—even if you lose, break, or retire your physical computer.
Using cloud-based software can safeguard both your and your tenants’ information.
Accessibility
Accessibility is another draw of cloud-based property management software. Local software requires you to be at your office or the computer on which you installed the software. It leaves you feeling tied to your workspace if you want to accomplish anything.
In contrast, cloud-based software goes wherever you are—provided you have a device and internet connection. Let’s say you’re going out of town for the week. With cloud-based software, you don’t have to worry about abandoning your tenants or losing contact.
Simply log in to your account from any computer (or phone, if your software has a mobile app) and continue managing your rental business on the go.
Multiple Devices
Cloud-based tools give you the opportunity to use your property tenant management software on multiple devices.
For example, have you ever edited a Google Doc at work, then continued to work on it later at your home computer? The same idea applies to property management software. Instead of being limited to the original computer on which you installed it, cloud-based software lets you access important files like payment records or screening reports on any device with an internet connection.
Multiple Users
Similar to multiple devices, cloud-based property management software provides the opportunity to add multiple users to the account.
If you manage a lot of properties or have a day job, you might have hired additional team members. Let’s say you have an accountant and several maintenance workers.
If your software is cloud-based, you can give these employees access to the features they need to do their jobs. Your accountant can access all payment and fee records, and your maintenance staff can view and manipulate maintenance tickets.
Cloud-based property management software streamlines your rental business, whether it’s just you or additional employees.
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Document Sharing
As you might already know, cloud-based software makes it incredibly easy to share documents. On Google Docs, for instance, several users can edit the same document at once. While it’s likely just you editing leases on your property management software, there are still benefits to cloud-based sharing.
For instance, cloud-based software gives you the option to share leases or addenda directly from the platform. Most platforms allow you to send documents right after you’ve finished editing them.
Cloud-based property management software makes it simple to connect your tenants with the resources they need.
Streamline Your Rental Business with Cloud-Based Software
Cloud-based software is reliable and efficient, with very few downsides for landlords or tenants. You can rest easy knowing your information is safe, encrypted, and always available on the cloud.
If you haven’t yet transitioned to digital management or are unhappy with your local software tool, cloud-based software is your next step.
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