The Evolution of Property Manager Software

Properties include immovable assets such as buildings, apartments, houses, shopping malls, and theater complexes that can be rented out either for residential or commercial purposes. In the last couple of decades, real estate industry has witnessed growth that was never seen earlier. However, the growth was limited only to properties that were well-maintained and properly managed. Hence, it is clearly evident that property management is extremely important to gain maximum value for your assets.

Property management involves handling issues such as renting out properties, communicating with tenants, rental payments, and aspects related to building maintenance and installation. For an individual or a management firm, managing all these issues on a routine basis can be frustrating and cumbersome. The best way avoiding any such discomfort is to sign up for any online property manager software that enables users manage their property portfolios efficiently, thereby saving ample amount of time, money and energy.

When they were developed initially, first-generation property management software were originally based on DOS platform. One disadvantage of these systems was that users found these systems extremely difficult to use, could be used only for accounting purpose, and were inflexible. Also, the software was not compatible with standard hardware and software components available in the market. Users even had to compromise on data storage as they had limited storage facility. Property investors even found it difficult to import and export data across systems.

As the technology evolved, the software also experienced phenomenal changes. Second-generation property manager software, which was based either on Windows-OS or Linux-OS, came into the market equipped with better features and enhanced capabilities so as to provide better property managing experience to users. These programs were easy to install, convenient to use and promised increased functionality. Also, they allowed customers to customize their applications and arrange data as per their needs and requirements. It was now possible to integrate diverse components and different modules into one system, thereby allowing the software to provide solutions to every major aspect related to property management including accounting, marketing, managing tenants and lease issues, maintenance, financial management, and communication. However, one disadvantage with these systems was that they were expensive. Users had to buy the software from the manufacturer and have them installed in their systems. Many times, users even had to upgrade their systems so as to make them compatible with the software.

With the advent of advanced concepts such as internet and e-commerce, the software has further evolved so as to support these concepts. Now, property management solution providers are developing property manager software based on a special platform called ASP (Application Service Provider) so as to integrate them with the web and can be accessed anywhere anytime in the world. When compared with traditional programs, web-based programs are advantageous in many ways. These are extremely flexible and provide users with unlimited data storage space. These programs are user-friendly, have broad compatibility and are easy to maintain. Since they are web-integrated, users can have access to real-time information, thereby allowing consumers to respond quickly according to market fluctuations and gain maximum profits. In addition to these benefits, web-based programs are extremely cost-effective and allow users have complete control over their properties.

The entire objective of any software is to integrate technology with the day-to-day processes of life, thereby facilitating users define their tasks and successfully achieve their objectives along with optimal utilization of resources. In this regard, property manager software is an exact fit as it helps property managers plan, organize and handle multiple tasks related to their properties in an efficient and effective manner. At present, there are many types of property manager software available in the market. However, one should employ bit of care while choosing the right one. There are many useful resources available on the internet providing valuable tips on how to choose good property manager software.