According to a recent study of property management software by Software Advice, a company that does research on management tools for apartments, people are overall still using more manual, older fashioned methods in the apartment management industry but that the tendency to move over to more modern technologies, such HOA Software, is growing quickly.
The company found this by analyzing a random selection to determine that most of the participants had pre-computer or -internet habits but that at the same time older property owners are turning over their properties to those who are newer and younger. For this reason, the transition is happening, but slowly. And it is surely a migration that is needed in the area of software that is property management-specific for a more successful and efficient future in property management and ownership.
Manual Management Methods
Of the 385 people who were in the study, a little over half (53%) reported that they still used mostly manual methods like pens and notepads and Excel spreadsheets. Those people also managed smaller properties, where it is more common to still resort to these methods. Still, apartment industries are continuing to transition and new owners getting properties from older owners are understanding the need for modern technology and streamlining.
Web-based Systems are Growing In Attraction
One of the biggest conveniences of having web-based property management software is being able to access it at any place. Of the group studied, 55% of them preferred to use a software that was web-based because it was convenient and easy for managing several properties, among other reasons.
In the very mobile world we have now, it makes sense that people would be more attracted to web-based systems so that both tenants and owners can reach the same information from anywhere. This is especially helpful for lease and tenant tracking. And speaking of that…
Most People Request Lease and Tenant Tracking Functionalities
Overall, people were more inclined to seek systems that were all-in-one and web-based, which makes solutions more organized and streamlined as Top Software Solution for HOA management industry professionals.