What is the problem with the property management systems of today?

There are probably more than 1000 property management systems in the world today. Each one claims to be the best and to solve a lot of your problems. I understand that real estate is very regional in nature as a domain, and it needs a lot of localization. But, I see some fundamental problems with most of the property management software solutions out there. So, I am listing and explaining them in the blog post.

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How to choose the right property management software?

But one of the biggest questions that remain is “which property management software (there are literally more than 1000) is right for you?” Yes, it’s very similar to finding the right life partner. So many options (one would like to think), so many factors that make it almost impossible to know which one will be best for you. I am taking a plunge in putting together a step-by-step guide that can help you start thinking in the right direction for choosing the right property management software.

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Coliving Technology, Apps, & Software

Coliving is trying to set itself up as a dominant asset class niche with a strong business model. We have inroads, but still, a long way to go. We need to prove that Coliving can be a strong business model at scale. And, when we talk about scale in any industry, we have to speak about technology. Scale is not possible without the implementation of technology. In pursuing a better business model, the customer experience has to improve, which is one more reason to talk about technology. Technology can help us achieve operational excellence with a better end-user experience. There are so many options today, but none of them was specifically built for coliving. Everyone is trying to retrofit the existing solutions for use in Coliving. Still, if the industry grows from here, we need to build solutions and softwares specifically for coliving.

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Sexual harassment in coliving spaces and the role of property management software

With the increase in the adoption of coliving across the world, the instances of sexual harassment are increasing all around. With no clear standards, references or policy, sometimes it becomes a grey area. A grey area means no accountability, and this is an area of huge concern. We always talk about how coliving has communities at the core of its offering and creates a positive and conducive environment for an individual to grow. But seldom do we talk about the dark side of it. If not addressed and talked about enough right from that start, this will always be a backburner topic, and people will not make enough efforts.

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Why should coliving spaces get property management software?

Managing a rental portfolio can vary from a dream to a full-time headache. There are so many aspects of the business that the experience keeps swinging between positive and negative. Managing many aspects (tenant application, maintenance, payments, etc.) without a tool is a tough task. Problems faced by newer property managers or coliving operators are not unique, someone somewhere has already faced them, and thus there will always be a solution that you can build on. Tools are those solutions. This saves a lot of time and energy and helps grow the business sustainably.

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How can property management software help in increasing the impact and sustainability of a coliving space?

The property management software (PMS) horizon is expanding more than ever. A decade before, a PMS was used to manage assets, inventory, and manage maintenance. But with the changes in lifestyle and ever-evolving housing models, the need for community building, inclusion, payments, communication, impact, sustainability, etc., are now being considered as the core part of a PMS.

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