Top 5 Mistakes Businesses Make in AppFolio

If you are in commercial real estate accounting, you know how important it is to embrace new property management technology trends. Software company Yardi has revolutionized property management and can be a great asset if you are looking for a commercial advantage. Nevertheless, mistakes are a fact of life, and we all make them – though some are more costly than others. A simple mistake with property management software could cause great havoc for you and your company as a property manager. Below, we have outlined the top five mistakes businesses make.

Not Customizing Software for the Business

Like any other software, property management software like Yardi have a default functionality. However, for optimal results, you would need to tweak a few things on the software, depending on the nature of your business. For example, you might need integrations with MRI software so that your clients can have additional features. Failure to customize the software for your business means that you and your clients don’t get the most out of your investment. You can check the help section, such as Yardi Breeze help to see available customization options.

Skipping Staff Training

Undeniably, the success of your property management software doesn’t lie on the software alone. It’s essential to train your employees to handle the different tools and features that AppFolio offers. Ignoring staff training that AppFolio gives would be setting yourself up for disaster. Research shows that businesses that invest in employee training see an increase of up to 24% of the profit margin. However, the good thing is that your employees can easily find answers to common questions on the help section – such as Yardi Help and AppFolio Help.

Improper Data Migration

When you decide to implement a new property management software, such as Yardi Breeze, you need to migrate all your previous data into the new software. The migration might call for some level of data conversions to make it compatible with your new platform. Should you make a mistake while transferring the data wrong, the software will also be prone to errors. The help page, such as Yardi help, would be a good place to check the right data format.

Skipping Software Maintenance

Although the goal of investing in property management accounting software is automation, it’s not a one-time thing. You still have to spend some money on upgrades and maintenance. Your software, for example, Yardi Breeze, will need regular checkups to ensure that it still aligns with the goals of your business. Skipping maintenance might leave you with the short end of the stick since you might miss out on emerging technological trends. You can find basic maintenance tips on the help page, such as AppFolio Help and Yardi Breeze Help.

Ignoring Scalability

Investing in an automated property management accounting tool gives you and your employees to focus on other aspects of the business. Therefore, if all goes well, your business will grow. That’s why it is important to consider scalability even during the initial stages of choosing software. That way, even as your real estate accounting needs grow, your software can expand too. If your software is not scalable, you might be forced to invest in entirely different software, consuming a lot of time and resources.

All in all, these are business mistakes you can avoid. While sticking to what you are comfortable with, any business must embrace change to scale the heights of success.