Philippine condo communities are dynamic, vibrant, and forever changing. As a board or management team, it can be hard to keep up sometimes. Condo management software is designed to help condos tackle some of the core issues that slow down productivity and take away from a positive resident experience. Cloud-based software gives condominiums tools to increase communications, improve record-keeping and enhance security. There are several benefits to investing in this type of technology, but the time and money it can save are usually the two most compelling points.
It’s a great time to invest in your condominium
The Philippine condo market is pretty cool at the moment. With more people seeking single-family homes, and an unstable economy, condo buyers are in a much better position than sellers. Condo prices fell by almost 11% in Q1 2021 from a year earlier.
But, that’s not all bad news. This is a great time for foreign investors to purchase condo units in the Philippines. Similarly, locals may be in a position to move to a bigger or more luxurious unit since prices are low. And the market won’t stay like this forever. There will be a greater demand for condo units again, which is why boards and managers should work on improving the building, as well as services for residents, now. It will be much easier to attract buyers as the market heats up again.
5 ways condo management software will change your condominium
1. It enhances the resident experience
Communication is usually the top challenge for condo communities. This is especially true if you have owners who live offsite. With condo management software like Condo Control, you have access to a number of communication tools that keep everyone connected and engaged.
For example, management can send out a message or notice to the entire building in minutes. All they need to do is write the announcement, decide who will receive it, attach relevant documents or photos, and hit send. Messages can be sent through email, text or even automated voice messaging.
Residents can also participate in community forums, post ads and sell items to other residents, and check an events calendar so that they don’t miss a meeting or social function. There’s usually a mobile app that residents can use so that they get all of the information they need about their community, no matter where they are.
Speaking of mobile apps, Condo Control’s mobile app lets residents submit maintenance requests, check announcements, book amenities, and even make payments. When residents can do more for themselves, staff have more time to focus on bigger projects and issues.
Online payments are very convenient for residents, and many prefer to pay this way. Residents can pay annual fees, amenity costs, and more using credit cards, pre-authorized debit, direct withdrawal, electronic funds transfer or ACH payments for maintenance fees.
Residents can view receipts for all payments made from their Condo Control account so that they always know what they made payments for.
2. It automates manual tasks
Condo management software allows you to automate many things that use up your valuable time. Workflow automation removes some of the tedious or repetitive steps involved in managing condo operations. Take service requests as an example. Instead of having to write down every request from residents, and then manually update each request as the issue is resolved, software allows you (or your residents) to submit requests online. Residents can even attach photos to their submissions to help the management or maintenance team understand what the issue is. All requests are stored in one place, and you can easily filter them by status or date. Once a problem has been resolved, the request can be marked as closed. If anyone ever needs to review an old request, it can be pulled up in a matter of seconds.
Security and concierge staff enjoy condo management software as well. They can use features like package scanning and tracking to quickly log deliveries. All they need to do is scan the item, and it will be linked to the correct recipient’s unit. A notice is automatically sent to the recipient so that they know they can collect their item(s) as soon as they are available to do so.
3. It helps maintain the value and appearance of the building
In addition to service requests, management can use features like maintenance tracking and task tracking to ensure the condominium is at its best. By prescheduling routine maintenance repairs and creating files on components, the management team creates a proactive strategy for maintenance. Regular maintenance helps prevent big issues (like a sudden elevator shutdown) and saves the corporation money in the long run.
Furthermore, qualified owners are more likely to purchase a unit in a building that is well cared for. They can sell their unit for more in the future if the condo remains presentable and functional.
4. It keeps data organized and safe
Do you still keep documents in physical cabinets? Or perhaps you make spreadsheets on your computer. Either way, there are drawbacks to storing condo data this way. Online data security is a major concern, but most software companies use encryption technology that will keep your data safe from security breaches and third-party interference. You can also turn on security features like two-factor authentication for greater protection.
Physical documents can get lost or damaged. And trying to compare numbers over a series of months or years is painfully tedious. Excel sheets are easier to update and store, but you still have to know what you’re looking for in order to find it.
Cloud-based condo management software does a lot of number crunching for you. All the condo’s data is securely stored on the platform, which means nothing gets erased accidentally. Create detailed files for each resident, track and analyze the security incidents that have occurred in the building each month, and build a comprehensive document storage library. In fact, a storage library is a great place to store items like financial records, agreements, and insurance information.
Easily create attractive reports to get a better understanding of how often announcements are being sent out, amenity usage, how many package deliveries occur, and much more. You can use reports to quickly spot trends or patterns that would be very difficult to see using paper records. The software puts the condo’s data into digestible graphs and charts.
You can drastically reduce the amount of paper you use for keeping records, as well as the paper piles on your desk.
5. It separates you from other communities
When the condo market is cooler, buyers have the power. Philippine and foreign buyers have lots of options to choose from, and will usually choose the building that offers them the most value for their money.
One way to set your condominium building apart from others is to provide an exceptional resident experience. This means staying on top of maintenance, doing regular inspections, providing convenient ways to make payments and access shared amenities, and being conscious of the building’s budget. Condo management software can help you achieve all of those things, and more.
Condominium managers and boards are expected to do a lot, which is why it never hurts to have some help. Condo management software can streamline and simplify condo management, and reduce costs for condo corporations at the same time. Condo Control has designed condo management software that is dynamic, easy to use, and affordable. This useful technology can greatly improve communications between you and your owners, elevate work conditions for staff, and keep owners happy.