Propertyware property management software was tied for being mentioned the eighth most often in response to a question posted on one of the property management groups ("Property Management Professionals") on LINKEDIN. The question someone asked was, "What property management / accounting software is everyone using?". Hundreds of property managers responded to this question.
Here is an analysis of what was said about Propertyware software based on an analysis of the first 350+ responses:
SUMMARY for Propertyware Software:
Of those that are currently using Propertyware or have used it in the past, many liked it for its ease of use and very reasonable cost.
And at the same time, there were also some that were not as pleased with the software.
And if you missed it, be sure to read:
What Property Management software is everyone using? (Part 1)
An analysis & review of: YARDI (Part 2)
An analysis & review of: AppFolio (Part 3)
An analysis & review of: MRI (Part 4)
An analysis & review of: OneSite (Part 5)
An analysis & review of: QuickBooks (Part 6)
An analysis & review of: Buildium (Part 7)
An analysis & review of: Rent Manager ( Part 8 )
An analysis & review of: Tenant Pro (Part 10)
An analysis & review of: Timberline (Part 11)
An analysis & review of: AMSI (Part 12)
An analysis & review of: PROMAS, Skyline, Tenant File, Tops, & Property Boss (Part 13)
An analysis & review of: Spectra, JD Edwards, & Home Grown solutions (Part 14)
An analysis & review of: Instant Software Property Plus, Peachtree, Caliber, & Jenark (Part 15)
DETAILED ANALYSIS of Propertyware Software:
PROS for Propertyware Software:
GENERAL COMMENTS:
- It works well.
- Seems to be great!
- Propertyware is great!
- Nothing but great things to say about it!
- Love it.
- Not bad.
- We have found that it does many things well.
- With institutional clients, I think this software is probably one of the best around.
- Love how it incorporates almost everything.
- Great for small new businesses.
- What’s even better is that you don’t have to be an "accountant" to manage the system.
- We use Propertyware.com for our residential property management business out here in Las Vegas.
- We use Propertyware with good success – it’s in the cloud.
CUSTOMER SERVICE & SUPPORT:
- The upside is that they are always updating it (so you don’t have the problem of outdated local software).
- I wouldn’t discourage anyone from using Propertyware but you really need to know what you are getting into and you would be crazy to not hire a consultant to come in and see how you run your business and help you integrate the software to meet those needs. Be sure of this – one way or another you will pay for the consultant whether or not you hire one.
EASE OF USE:
- It has been very user friendly for a front end system.
- It has a very simple interface, so learning it is a breeze!
COST:
- We have about 50 units and the cost is around $120/month.
- It offers many features at a fraction of the cost of more prominent suppliers.
GENERAL FUNCTIONALITY:
- It handles our website, most of our marketing, and all the accounting and management needs.
- We like the fact that its a SaaS (Software as a Service).
- They do have a module that allows for online payment of rent (which auto credits to the appropriate accounts). This saves time and money.
- It seems to have been written initially as a larger enterprise-type system but is now being offered to smaller firms like mine as a catch-all solution-for-everything software. It is pretty good.
- The accounting functions are quite good.
- Propertyware is the total solution: full accounting functionality, tenant/owner portals integrated marketing/website hosting, custom report writer, all cloud based (web based).
- It gives you the ability to feed rental information to the advertising sites directly, it gives you a web site, direct deposit for owners, tenants can pay on line. We can pay several property managers and track each portfolio.
- It has maintenance and marketing modules, plus resident and owner online portals, online rent collections, work order submissions, etc.
- It generates all the reports that you need.
- Our tenants love the online portal for payments, maintenance issues, and communication. One of our apartment complexes has 100% of the tenants signed up online … we’ve never had a late payment there because of it.
- There is so much to it that it can function on any level for anyone.
CONS for Propertyware Software:
GENERAL COMMENTS:
- For a property management company with 400 individual owners, it doesn’t work the way we hoped it would.
- It’s definitely geared towards residential despite what they told me before signing us up.
- One person there even told me I should change, that it wasn’t the software for me when I called to ask a question about budgets!
EASE OF USE / USER FRIENDLINESS:
- You have to learn the system by a lot of trial and error.
- The self-help training is less than optimal.
- I have not had much luck with Propertyware. Even when we tried to do the training it hasn’t worked out.
GENERAL FUNCTIONALITY:
- We don’t like that you can’t import bank transactions directly into it.
- There are some areas (like automated notices to owners) that aren’t well-supported. The workgroup communications function is also somewhat weak.
- You can’t do an abstract or a budget by portfolio.
- It’s a cash accounting system, so for some companies that may not work.
- Would like to see more capabilities in their reporting mechanism … we have to play with the data a bit in order to get the reports to look the way we want them to look.
{ 2 comments… read them below or add one }
Thank you SO much for this post – it really helps me in my decision of what property management software to use. I had been looking at RealPage and Buildium and now this review plus all the other articles have been a lifesaver and saved me a huge amount of time..much appreciated!
We’ve been RealPage customers for years, and found Propertyware to be far and away the most comprehensive technology in the market. The others look nice, but don’t have the depth of functionality and integrated services that you would need if you manage more than 100 or so properties.
I’m not sure about the comments above, since we can and do manage our banking (importing our bank’s qfx file) and portfolio budgeting through Propertyware and it’s been great! I’d encourage anyone to take a look.
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