Whether you’re a landlord or a property management agency, your property management software will likely be one of your most valuable tools. But what happens if it’s not meeting expectations anymore?
Changing property management software providers can be daunting, but we’re here to help. Here’s a brief overview of the steps involved in switching property management companies.
Do you need to switch?
When researching switching property management companies, the first place to start is by deciding if you actually need to. While selecting the right provider can make switching easy, it doesn’t come without its preparation and costs.
Start by listing out the pros and cons of switching and ask yourself some of the following questions:
- Does your current property management software offer everything you need it to?
- What's the cost of the new software versus your current setup?
- Do you need better customer service from your property management company?
- Have your business needs changed? And does your software match these?
- What functionalities do you feel are missing from your current software?
You'll want to avoid switching providers for the sake of it. Have clear goals and decide whether you need a new company to help you meet those needs.
Finding the right provider
Once you’ve identified why you want to switch providers, your goals for the new software and the capabilities you need, you’ll want to use them to assess any potential new providers.
You'll also need to consider costs, as the budgetary element is always important. For example, you might need some capabilities over others, which could help reduce costs should you need to.
When vetting potential providers, consider reputation, experiences, services and client reviews. Reviews are crucial as they provide social proof of whether a platform is everything it promises to be.
Similarly, referrals also hold value — network with people in the industry to find out which names regularly arise. If the provider is popular, it's likely for a good reason.
Preparing to switch
So you've chosen your new provider and are preparing for the changeover. While your new provider will be able to make the switch as seamless as possible, there'll be some housekeeping you'll need to manage to ensure downtime and teething problems are kept to a minimum.
Start by checking the legalities of switching to a new system, including existing contracts, obligations and GDPR requirements.
You’ll then want to ensure your data is streamlined and ready for the migration. Delete any old data, and ensure it’s categorised and orderly to get you up and running quicker on your new software.
Notifying tenants is also essential. If you use tenant portals and you're moving to a new provider, you’ll need to provide them with the correct information and instructions to ensure continuity of services.
Finally, ensure all your data is backed up. While your new provider will be well-versed in switchovers, you can never be too safe when protecting your data.
Implement the switch
When the time comes to implement the switch, lean on your new provider to make it run as smoothly as possible.
There will be some downtime, so notify landlords, tenants and other stakeholders.
Staff training will ensure they can hit the ground running and make the most out of your new software.
Finally, once everything is complete, you can start experiencing the benefits of your new software.
Need more guidance?
Our in-depth guide takes you through all the steps involved in switching property management software in greater depth. To learn how to switch property management companies, simply download the guide below.
