Years ago, the paper filing system was the most used method for property management. You can now manage your property online using web-based or cloud-based software. Let’s take a look at what is the difference between them and what software is best for you.
Cloud-based Property Management Software
Cloud-based software is part of the growing technology to help businesses thrive. This system can be scaled which helps a property management company grow. It can be scaled “vertically” through additional memory, sometimes referred to as “horizontally,” which adds servers that handle more customer traffic and work. This approach is beneficial for those who have multiple rentals or have many tenants. Cloud-based software does not need the internet to download or upload data but you do need to have the internet to access and save work to the cloud. Microsoft Office is an example of cloud-based software.
Besides the ease of access for users, cloud-based property management software provides data security through a third party. This software has a lot of storage capacity that can hold audio, video, documents, or images. Using cloud-based software can lower your overall maintenance costs for the properties you manage. Due to its flexibility, cloud-based software is able to keep up with the changes that happen in the technology world. However, it doesn’t mean that web-based software should also not be used in tandem.
We are excited to share we have a new opportunity to offer QuickBooks Online at a discount for USA and Canadian residents.
By using QuickBooks Online, you will save time and money! And, by using QuickBooks Online in combination with STRATAFOLIO to manage your real estate, you will save even more!
Web-based Property Management Software
Web-based software must be connected to the internet to function. The way that web-based software works is simple. The software is downloaded and stored on a device. It can be run on any platform as long as it has an appropriate web browser. Web-based property management software can be customized and doesn’t have to follow regulations through another party for it to upload data. This also makes it so that the software is always updated when it is being used instead of having to do the updates manually through an app store. If you have constant access to Wi-Fi, then web-based software would meet your needs.
Unlike cloud-based software, some web-based software may not be able to handle business growth. Since this software doesn’t go through an app store, it means that there aren’t any advertisements because it isn’t an app store listing.
Which One Is Best for You?
Choosing between web and cloud-based software is dependent on the needs of your unique business. If you are looking to grow the number of properties you rent, it may be easier to choose cloud-based software. Web-based software would have to be constantly upgraded which may be more expensive in the long run. For cloud-based software, it can handle an increase in customers without having to pay to upgrade each time. You only have to pay to subscribe to the service. Some businesses also use a combination of web and cloud-based software.
Property management can be difficult and time-consuming if you have multiple buildings and tenants. STRATAFOLIO helps you manage your properties with ease. Some of the features include bulk invoicing, lease rate escalations, and more. Schedule a 1:1 demo with STRATAFOLIO to improve your property management.
9 out of 10 companies are missing lease escalations.
Watch this 1 min video to learn more!
Thank you for your visit.
- STRATAFOLIO Celebrates National Small Business Week! - May 3, 2023
- Quick Hits: What Does an Open Negative Balance Mean in QuickBooks? - January 4, 2023
- How to Optimize Your Commercial Real Estate’s Passive Income - November 21, 2022