Condominium Management Software Shopping Guide
Not taking advantage of the technology of a condominium management software means attacking your own productivity. There are tools specifically developed to manage all the processes of a condominium property, from income and expenses, to sending communications.
In this purchase guide you will learn what is necessary before purchasing software of this type: what it is, the features and prices of a condominium management software.
What is a Condominium Administration software?
Condominium management software is a system that helps real estate managers manage operations such as rentals, applications, maintenance, communications, security, and accounting for a building or condominium property.
This type of software adapts to any type of residential and commercial properties and can scale in functionality and price, depending on the size of the property portfolio.
Managing a condominium software will allow you to simplify the responsibilities of administrators, since it replaces the manual system with an integrated platform that streamlines and automates daily tasks in one place.
Building and Condominium Management Software Features
- Data Centralization: Allows you to collect and store all tenant data, contact details, payment history and properties in one place
- Process automation: flow rules can be configured to automate tasks such as: payment reminders, maintenance request, inquiries, tenant follow-up, notifications, etc.
- Financial management: with a condominium software, tenants will have an online platform to pay rent, where they can see account statements, receipts, payment history, income and expenses, make invoices accurately and financial reports. Provides security and transparency in payments and data transmission.
- Tenant monitoring: this platform also allows you to track and control the real status of your tenants, such as the lease term, payment history and maintenance request.
- Direct and fast communications: through forums, online chats, emails and other integrations, you will be able to send any type of communication to your tenants, from reminders, updates, notifications and payment requests.
- Security: Achieving security and transparency in tenants is essential. Such software allows you to track visits, residents, guests and recurring services.
Condominium Management software prices
Pricing plans vary based on each software offering. But two types of plans can be identified.
- By homes: these condominium management software are paid monthly and increase by the number of homes you want to manage.
- For the functionalities and number of users: the payment is made by the number of users who will have access to the software.
Plans by number of homes
Number of homes
More than $100
Plans determined by functional and payment per user
Monthly payment/per user
*Prices are in USD.
The functionalities of this type of pricing plan include the fundamental aspects that a condominium management software must have, such as, for example, tenant and property data storage, communications in the community, customizable administrative functions, financial control and management, income and expenses, etc.
This plan includes the features of the previous plan and some additional ones, such as the advanced owner portal, integrations, board member dashboard, security records and reports, tenant and property inspection, among others.
It is the sum of the functionalities of the basic plan and the standard plan, but in turn includes modules that can be integrated into the software, among them we can find: messaging management, parking, key management and daycare management.
A condominium management software will allow you to automate and streamline all tasks in one place, achieving more efficient management and the satisfaction of your tenants.
When selecting some software of this type, do not forget to consider the different types of plans. Hire the plan that best suits your budget considering the functionalities it offers, the number of users that will have access or the number of properties that you need to manage for your condominium property.
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