When do you make the decision to switch to property management software?

By: Amer Siddiq

Anybody who is serious about being a long-term landlord will need to choose some kind of property management software package to help better manage their portfolio.

Spreadsheets tend to work well in the early stages, but as the portfolio grows then a dedicated landlord’s software solution is required.

Therefore the question most landlords ask is, 'when is it the best time to go for a dedicated property software solution'.

It is a question that frequently gets asked and I personally feel there are two answers:

1) If you are serious about being a long-term landlord and are going to continue to grow your property portfolio then the sooner you buy a software solution the better. This is because as you continue to grow your portfolio you will also become more and more familiar with the software package you are using, so in effect it will be helping you to grow your portfolio and will become one of the vita parts of your business.

This means that as soon as you buy your first property then you should consider choosing a landlord software package at the same time.

2) If you haven't invested in a solution when you first became a landlord (most cases) then you should definitely do so when you start to feel that you are becoming disorganised and are no longer on top of you portfolio.

For some people they can start to feel like this after they have bought maybe two or three properties and for others it can be when they have upwards of five or even ten properties.

Once you start to feel that your existing paper system or spreadsheet system is not giving you all the information that you need then you should decide to make the investment.

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