“If you can’t measure it, you can’t manage it”, and according to Lisa Pentland of PropertyMe, that’s just one of the reasons more and more large real estate offices are making the change from legacy products to PropertyMe’s Cloud platform.
PropertyMe is an online property management software for property managers that saves time with automated workflows and property management tools.
A key component of the software is the detailed insights it offers across key performance indicators (KPIs) for both the business and its property management portfolios.
Ms Pentland says since 2018, PropertyMe has seen an increase in adoption by larger businesses who are not only taking the opportunity to upgrade from legacy systems, but are also using the software to grow their portfolios.
“Overwhelmingly our larger clients tell us that one of their key drivers to change is improved high-level visibility and transparency across their teams and business,” she says.
“We are also seeing an aggressive growth effort from larger businesses utilising our data merge services to assist with their acquisitions. In fact, we’ve seen a 32 per cent increase in our average portfolio size from 2018 to 2019.
“Successful businesses know that what gets measured, gets managed, and prioritise insight-led decision making to boost productivity and efficiencies.”
In total, PropertyMe offers more than 50 different insights that business owners can see at a glance.
KPIs the software tracks include portfolio tasks like payment management, inspection tracking, maintenance status, compliance management, overdue tasks, properties gained and lost, communication SLAs, and percentage of vacancies.
Meanwhile, business KPIs include profitability, customer experience, net growth, dissection of revenue, and productivity.
“PropertyMe’s real time insights dashboard provides business owners with actionable insights at a glance – gone are the days of dated manual reporting,” Ms Pentland explains.
“Most people have heard the saying, ‘take care of the pennies and the pounds will take care of themselves’. The same goes for productivity and profit or, in the property management business, portfolio performance KPIs and business performance KPIs.
“Optimised productivity is crucial to the profitability of a property management business and portfolio performance KPIs are the leading indicators that can allow you to make adjustments in order to improve your outcomes to bring them into alignment with your business goals.”
To try out a demo for yourself visit propertyme.com.au/demo