A gamut of complexities and difficulties are faced by the Affordable housing owners while selecting the property management software. Since a wide spectrum of these softwares are available in the market and the user may get confused while selecting the one.
Below are mentioned some tips which will prove to be useful to the various property owners while picking up the top quality property management software for their business.
Take the leverage of End user.
Many a times the users who need to use the property management software at the site level are muddled regarding which software package is best for them and they end committing a big mistake by selecting the wrong package. Moreover the number of employees and executives that are present are high it would not be feasible to make everyone educated on the programming software and this is where end users play their role and test each software package before you final the deal.
Make sure the Compliance Reports are Up-to-date.
Compliance reports on the housing tax are one of the most crucial aspect of affordable property management software. The taxation credit rates used by the software must be in compatibility with the rates set according to the state regulations. You have to check it for all the places you are doing your business.Even if you have 100 units or 100 units you have to buy the updated software and even take the help of state agency whether it is correct or not.
Reviews can do the wonders.
Some software packages directly feed into the General Ledger the information of the site transaction without reviewing it. They populate the General Ledger automatically and does not take care that if a certain mistake has been made. Choose the property management software which stops for the various transactions and details regarding vouchers, housing and taxation and review them before feeding into the general Ledger. If you avoid this and a mistake is committed both the compliance data and accounting data are wrong and you have to redo the whole work.
Make sure that there are no hidden charges.
Before you sign the contract with the vendor, make sure that there are no hidden charges. Some softwares charge you when you integrate other softwares to the property management software. For some property owners screening tools are an indispensable part of their business and some property management softwares charge $ 250 per annum per property to club screening tools with them.
Take into account that you are charged according to the units you have.
You have to make sure that when you chose the property management software you are charged only for you present owned units and not for any extra units which you may have owned in the past. Some companies reset the unit count and other keep following the same unit count. Certainly you have to clear this out whether you will be penalized if you run a smaller number of units as compared to the number you started with.