Innovation in Property Management
Is your condominium still in the dark ages?
It is no secret that many condominiums and their property management company’s still live in the world of paper records and filing cabinets. Searching for timely information through paper records can often take long periods of time or papers can get easily get misplaced, leading to a number of possible issues between owners and condominium managers.
There are also many other downsides to sticking to paper filing including financial losses associated with misplacing documents, not paying vendors on time, or the cost of complaints and lawsuits from poor communication or incomplete service agreements.
The benefits of technology
Many property managers are resistant to adopting new technology and ways of doing things because of the fear of the unknown and being stuck in the “this is the way we’ve always done it” mindset. However, adopting technology into your property management will save you both time and money.
When managing a condo, there are always a number of different parties with who you are in communication on a regular basis - service providers, boards, owners, accountants, to name a few. The fact of the matter is that we never know when we need to access these records, having them filed electronically allows for easy retrieval if needed in the future.
Storing records electronically also allows for easy reproduction or redistribution. Any relevant parties can easily obtain copies when needed - saving time and money.
Fortunately, we live in a world where there are many technologies readily available to help make life easier for property management. This includes condo management software, it provides tools that make keeping communication records organized easy.