Which Condo Management and Accounting Software is Best for Your Condo?

All-in-one vs Best-of-breed condo software solutions

When condo management software burst onto the condo management scene a little less than a decade ago, it brought with it a debate within condo managers and condo corporations. Should they pursue a single all-in-one solution that offers communication, management and accounting functionalities or embrace a multiple best-of-breed solution?

All-in-one Vs Best-of-breed

Using all-in-one software is like going to a restaurant that serves General Tao chicken, sushi and rib-eye steak. You are certainly not going to find the best steak since they don’t specialized in one cuisine.

Best-of-breed is like going to a steak house to find a good rib-eye steak or a Japanese restaurant to find good sushi. The best part about best-of-breed is that you don’t have to drive to three different restaurants. They are all located in the same food court right next to each other. You get the best of both worlds at the same place (hence the term “Best-of-Breed”).

Personally, I like my sushi prepared by a real sushi chef, not by someone that makes pasta noodles by day and chocolate chip cookies by night.

Which to choose?

Go for an all-in-one condo management software with accounting if resident engagement on your condo website is not important to you and you’re just looking for a basic enough condo accounting tool. You understand that hardly anyone will log into that website and that there will be very little activity.

However, if you’re looking to create a lively and active community that logs into their condo website regularly to book facilities, read bulletin announcements, send messages to managers and download files, while using a flexible accounting application that fits your financial needs, then the best-of-breeds is your best bet.

If you have more time, read on…

Why Best-of-Breeds?

Here are some reasons why the best-of-breeds approach would make more sense to you.

More Flexibility
The best-of-breeds approach is significantly more flexible. Since neither the condo management or accounting functions are bound to one another you can easily switch out any one in the future.

Best-in-Class Solutions
Choosing a condo management software from a company that focuses entirely on condo communication and management whilst opting for a separate condo accounting solution that focuses solely on solving condo accounting needs, ensures that you get the best of both worlds. That also means more feature upgrades with faster and better customer support.

Best Value – Bang for Your Buck
All-in-one solutions may be cheaper but is it really worth the savings? Opting for a best-of-breed solution ensures every penny you spend does not go to waste. It’s an investment you make that yields a well managed, efficient, transparent and happy community.

A Tailored Experience
For all-in-one solutions, communication and management are mere accessories. These services are often just substandard by-products or accessories to their core offerings. With all-in-one software, you’ll end up with a resident portal that is not as robust or functional as a dedicated resident portal platform.

It’s Much More Secure. Period.
It’s simple. Separate servers and databases managed by different vendors in different data centres and locations make it much safer. If your communication and management solution gets hacked, the hacker will not be able to gain access to your accounting information and vice versa.

Evercondo is a condo communication and management solution that offers accounting through a best-of-breed integration with Condo Manager Accounting.

Financial information from Condo Manager Accounting is seamlessly displayed on the Evercondo portal for residents. User information is updated both ways so you don’t have to update on both ends of the solutions. It’s all covered and taken cared of. Also, you don’t have to worry about us passing you from one department to another in the same company. We’re specialized and when you call, we’ll be sure to get it done right the first time, every time. Learn more about Evercondo’s integration with Condo Manager Accounting or Contact us today to request for a demo.

What’s a Good Property Management Salary?

property management salary

Finding the best advocate for your community may boil down to offering the right property management salary.

Hiring a new property manager is an adventure. You have to weed through some, shall we say, interesting applications. That’s the easy part. What you’re left with are (hopefully) several great candidates to interview and select.

Among the many things you need to determine when writing a property manager job description, is a competitive property management salary for your area.

If you want a qualified, competent property manager, the salary has to be in line with the going rate, as well as the general cost of living in your area. Here are a few things to consider when you’re trying to attract qualified candidates and remain within your condo association budget.

[Read more…]

How To Write a Condominium Property Manager Job Description

condominium property manager job description

A booming, reputable condo community that’s always at capacity doesn’t get there by hiring a bad condominium property manager. 

Who you select as a condominium property manager can have a significant effect on the happiness of your condo neighborhood, so the condo association board needs to be diligent in hiring the right person.

One of the best ways to begin a new project is to take a look at what other people have already done. Looking at job descriptions from condo management companies is a great way to gather ideas, and figure out how to approach a condominium property manager job description for your condo association.

In this post, we’ll take a look at three condo management companies and their job descriptions for a condominium property manager. We’re also including a copy and paste job description you can use when your condo association needs to hire a property manager.

[Read more…]

How To Be A Good Property Manager That Residents Love

how to be a good property manager | EvercondoWondering how to be a good property manager? Being respectful, organized, and efficient will make residents and your management company love you!

If residents aren’t high-fiving you every time you show up to the property you manage, there’s work to do. Whether you’ve been working as a property manager for most of your career, or you’re new to the field, you can always improve.

But how do you know what skills or personality traits equal success? Do you know how to be a good property manager? What does it mean to be good, even great?

To start, treat different properties according to their specific needs. If you previously were the property manager for an apartment complex and are now working for a condominium management company, your residents and their needs will be different. So will contracts, bylaws, and many other factors.

Identify the differences, and you’re on the right track for becoming one of the best property managers in your area.

[Read more…]

Smart Property Management KPI’s to Boost Your Business

Key Performance Indicator KPI Evaluation Goals Accounting ConcepDo  your property management KPI’s get tracked, analyzed and discussed every month?

What is a KPI?

KPI stands for Key Performance Indicator.

It is a metric used to evaluate various factors that influence the success of an organization, in this case, property management.

Property management KPI’s are used to track the profitability and success of various properties – or even staff members – of companies who manage condominiums. [Read more…]

The Insider’s Guide to Property Management Marketing Ideas

Creative thinking and brainstorming ideasMagnetic property management marketing ideas to attract new residents

If you’ve worked in property management for a while now, you’re probably bored with the same old marketing techniques you’ve used over and over again to attract new condo buyers and keep your current residents happy. You might be thinking that you need to start from scratch, but that isn’t the case.

Before you completely ditch your marketing strategies, it might be a good idea to reevaluate what you’ve been doing for marketing for the past few years. Of all your strategies that have been implemented, take note of what seemed to work and what didn’t. Consider finances such as money spent and the return on investment when considering which techniques you’d like to consider using. Look backward so that you can plan forward. [Read more…]

The Best Ways to Create a Property Management Checklist

photodune-6520543-real-estate-xsUsing a property management checklist will keep your residents, staff and management company happy.

Whether you’re a new property manager or you’ve been around the block for a while, it’s easy to get overwhelmed with all your responsibilities. Everyone is pulling you in different directions – the residents are requesting use of the common areas, the maintenance staff is complaining about an increase in work orders, the condo board association is waiting for your reports, and the management company is breathing down your neck for the analytics you promised them months ago.

So what do you do? Create a property management checklist to keep you on task.

But where should you begin?

[Read more…]