What to look for in a student accommodation management software
When researching the student accommodation management software market, there are many factors that must be considered which differentiates student accommodation from any other portfolio management. The software needs to cover all bases to reduce costs by avoiding using multiple software’s, both in subscription and admin time costs. Student accommodation requires a software to manage a large number of tenancies and their corresponding contractual work whilst being flexible and efficient.
Here are some of the main factors to research before making your choice of software:
Start-up services
How easy is it to migrate your current data onto the system? The switching experience can be a painful one IF your software is not flexible. Paying for two software’s during this time will be expensive and an inconvenience whilst you must undergo importing your data whilst managing current tenancies.Training is also key. If your team feel side-lined by the size and functionality of the new software, it will halt progress. Ensure the company you are persuaded by offer adequate training resources. This can vary:
- On-site bespoke training
- Online training
- Webinars
- Training days
- On-going support
On-boarding process is simple and efficient
On-boarding needs to be slick to guarantee you have high successful sign up rates of prospective tenants to your available units. In order to simplify this process, software’s can be incorporated with the aim of streamlining on-boarding for property managers. It’s made simple via alleviating some the administrative burden associated with logging prospective tenants. Applicant forms can be sent to anyone who has registered interest with one of your units, where they can fill out their information and be stored on your system.
Viewings management
Viewings management is ideally integrated with your day-to-day management of your portfolio. Applicants can be concisely logged allowing managers to overview and action tenants accordingly. A capable software will be able to log viewings, accept or reject offers, send reminders and move tenants into a tenancy seamlessly.
Cloud storage
Cloud storage enables all team members to login from separate locations and work remotely, whereas on-site programmes can restrict work to being completed to one location. This makes it harder for admin to be completed outside of traditional office spaces and office hours.
Facilitates to your services
Rent frequencies differ for most student accommodation company due to varying term times and tenancy duration in the UK. You need to ensure a software can facilitate specific rent frequencies, for example, termly rent payments.
Maintenance
Maintenance work needs to be efficient, so problems are identified early, distributed to contractors and logged all within a software. Student accommodation comes with complex contractor processes. When deciding between software’s you must consider if it fits your process. Getting your maintenance team on the system and improving in house processes comes along with upgrading to a superior management software.
Marketing
Marketing is an integral tool to prevent empty units. Without advertising, units could be left vacant for an entire academic year due to seasonal demand. Will the software enable you to market your properties? Integration to third party marketing portals can allow your properties to be marketed once made available.
In an ideal world, your dream software will cover all these topics in depth. However, this unfortunately doesn’t isn’t always possible as software’s vary in specialities. Therefore, researching and trialling potential software’s in hugely important so you find the software for you.
Book a demo with Arthur to see if our software is the solution you have been searching for.
