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So, as you can see from these trends, manufactured or mobile housing has come a long way over the past few years. As a software buyer, you should be aware of these latest trends as they can help you take the right decisions to grow your business. And it does it on a very, very affordable basis. So Rent Manager is definitely the software that we prefer. It has the GL tied to the rent roll, for you accounting buffs. So we think Rent Manager is probably the best solution.
We’ve used our in-house property management experience to customize a set of features to accommodate the manufactured home park industry. Our powerful management suite simplifies your day to day operations and drastically improves access to your most important business metrics. To help you understand the wide array of software at your fingertips, we’ve created a list of useful tools that could help you manage your park. In general, you’ll notice that some of the software on this list is specifically geared towards managing a mobile home park. Some of the recommendations used for other business ventures may have their place as a quality solution to park management. The master login enables users to set up a job, meeting, schedule, task, or anything else.
Using Software To Better Manage Your Property
Which is the one that has the most efficient cost perspective based on the number of users? So, again, I'm just giving you very broad brush analysis of what we all use. Well, the sad truth is, you can't do that.
Will it be just you, or will you have your managers involved? Or will you have others involved somewhere between you and the managers? So which is the easiest for them to handle?
Software to manage your park and everything in it.
Number one, before you enter into any software, you really need to analyze them all, because they're all a little bit different. And you may just find some to be more user friendly for the way you operate than others. There was on out there that some park owners used that seems to me very antiquated, called Park Sidekick. Now Park Sidekick is a one time cost of $525, all the way up to about $3150, so ... Again, these prices may have changed. But Park Sidekick, if you look at the product, it looks old.
If that's tracking all of the bill backs you're doing, and all the comparison of bill backs now, and how much you've spent and how much it was a year ago, again, that's huge. All of your budget actual difference. The only one that software can't manage for you is property condition. However, as we mentioned on last week's podcast, you get around that with HD videos.
Episode 52: Using Software To Better Manage Your Property Transcript
It's got obviously a lot of great things going. Yardi, in fact, is probably the pre-eminent software package for all of your larger real estate portfolio owners. So Rent Manager, if you go look at the portfolios of any of your large apartment, office building, retail, any of those types of folks, self storage. You'll see most of them are using Yardi Voyager.
So, again, software won't run your business, yet, it will very much aid you in running your business. And that's why it's so very important that you select the right software package. Because there's no substitute for good software.
It will help you assess properties and employee performance, allowing you to make informed decisions. It can also help you provide potential tenants with a convenient online leasing process. Among its various features, you’ll find that it works for accounting and electronic payments. Additionally, mobile and online editions of the software are available for users. If you’re an entrepreneur, you’re always looking for ways to streamline your business.
And one problem, it has no GL side. So it's somewhat limited on its accounting functions. Otherwise, it does a lot of great stuff. But typically that's probably not the choice you're going to make when you're looking at software. From playgrounds and pavilions to roads and facilities, Cartegraph has all your park assets covered. Plus, keep tabs on endowments and the benefactors of your trees, benches, fountains, monuments, and more with just a few clicks.
However, in this, our fourth installment on our five part series on The Top Five Tools for Mobile Home Park Owners, we're gonna talk about software. Yes, we're gonna talk about all the different types of computer software there is out there to help you manage your mobile home park. Big or small, keep your park in tip-top shape, improve your team’s workflows, and make better decisions with Cartegraph's park management software. These companies offer manufactured home community management software systems to help you with rent and utility billing. Cozy, you can easily manage your rent.
Those are the five big dials on any park owner's dashboard. But think how those five dials can very much be aided by that software. Also, think about who all is gonna be using the software.
We've always used Avail for our residential stuff, but I have a 20 pad park, and if I'm going to spending the money on software, I was hoping to find something more all-inclusive. First, it helps you evaluate the property before you buy it. So if you’re in the market for a mobile home park, enlist the help of Property Tracker to figure out if an investment is a good deal. You can create your own asset types—or our wicked smart implementation team will set them up for you. Whether you’re looking to manage one asset type or a sprawling park district network, Cartegraph is tailored to your organization’s needs. According to a recent NRPA study, parks are hit with the largest cuts when local governments face budget pressure.
The only problem with Yardi Voyager is it's really new to our space. Now, I know owners who are currently using Yardi Voyager, and Yardi Voyager is making a valued effort to try and bring their multi-family knowledge into the MH space. It may be kinda like big screen TV, is where possibly you could wait a little while longer and you'll get a better quality TV at a lower cost.
Track your entire park infrastructure.
It is one of the most popular software setups for managing finances, including employee payroll. Notably, Quickbooks will help you manage the finance side of your mobile home park business and make it easy to share information with your accountant. Now, will software manage your business? You still have to have a great park manager.
When you buy that mobile home park, you are going to be providing regular statements to your lender, to your accountant, to do your taxes. You've gotta make sure those statements are 100% accurate. And, we're going to talk first about QuickBooks. Now, QuickBooks is where most people begin. It's definitely for smaller operators who have just their first park or first few parks.
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