Excel is a powerful tool, that many property managers use to keep track of tenant’s data, leases and to calculate utility costs for every tenant. While it’s a powerful program, it still has it’s limitations and can be prone to errors. Excel is prone to calculating errors and this in turn can have a massive influence on your business financially.
In this article, we will explore the most common mistakes made with Excel and how you can avoid them by implementing a software made for property management.
Read an inteview with one of Hausing’s clients here, where only one person understood the Excel sheet and the problems it created.
“She had done this job alone for so many years and had great systems for herself, but others had a hard time taking it over. There were many Excel sheets, but it was overwhelming to comprehend them, and it was clear that a new system was needed,” said BLRT-s property manager Ergo Eelmäe.
With a property management tool, like Hausing, all the data is securely on a platform, that is updated in real time and accessible for everyone at the same time. No need for back-and-forth sending each other vital information.
"Before Hausing we were using multiple Excel tables and the data was different in file. It was hard to understand how well our rental business was going and which data was correct," said Merle from Palmgrupp.
Property management software’s guarantee that your data is safe and secure and you can instantly forbid access to a malicious person.
Setting up notifications ensures, that no important date is missed.
You can integrate Hausing with tools you already use:
Don’t waste your time copy-pasting information from one tool to another. With today’s digital possibilities, look for ways to make different softwares communicate and benefit from one another.
In conclusion
While Excel can be a highly capable tool, consider the pros and cons of using it.