Question

You just landed a job working for a real estate manager. Until now he has been doing all his record keeping using paper and pencil. Your boss has finally decided the time has come to purchase a new software system. Your job is to find and compare software options. Find at least five different software options for real estate managment. At least one should be a "Software as a service", one should be "off the shelf", and one should be "proprietary". 1) list each option together with its advantages, disadvantages, and probable cost. 2) make a recommendation for which one you think your boss should go with and why (you can be creative on what the company looks like when deciding why)

Answer 1

In my Opinion Five different software options for real estate management are:

1. IBM Tririga

2. AppFolio

3. ResMan

4. Buildium

5. Arthur

Now the Most Suitable for " Software as Service"

IBM Tririga:

There are several software in the market that can fullfill the needs for real estate management but this provides things in very deployment way. there is some advantages which makes it totally different among others on the basis of "software as service"

Pros

1. It Manages project activities so you can manage external as well as internal project activities just  by creating a list of active projects and the related schedules as well as  budget forecasts .

2. when it comes to Space management then it is much better than others cause It gives you assistance in handling all workplace configuration and space term utilization.

3. The last and the best feature of this software that makes it totally different from other is that you have the option of deploying this platform on premise or even in the cloud by doing this you can handle it globally.

Cons

it is not very intuitive in UI "Complex to understand for any regular user"

Number on concurrent users on the application is limited.

Expensive to customise.

It does not support Residential Property Management

It does not support Tenant Portal

Probable Pricing 30 dollar per user for simple services,

Arthur:

if you want something which is "off the shelf" than you can go for this

Pros:

* Product works both on mobile devices and PCs

* Brings together property owners, contractor agents and tenants in one system.

* Property managers use Authur to communicate with stakeholders and perform daily tasks in an organized manner. If organisation wants to work in Multi-unit management then it  can easily manage mixed-use properties and HMO’S, blocks of flats, and multi-let properties.

* This system also enables you to handle single individual units or multiple units at the same time.

Tenancy management is also there if organisation work or deal with it than it is also help full.

Work order management. Use Arthur’s algorithm to easily raise work orders and follow them through to completion. Ensure work is finished within budget and on schedule.

Cons:

Expensive to customize .

Good for small and medium type organisation

Number on concurrent users on the application is limited.

Probable Pricing:

Standard – £15/month

• Includes 20 units
• Unlimited storage
• Suites of apps
• Multi-account dashboard
• Report and statements

Professional – minimum spend £40/month

• Include 40 units
• White label
• Tenant onboarding
• Reminders
• Support

Enterprise – minimum spend £75/month

• Include 60 units
• Permissions
• Applicant matching
• Bespoke tenant app
• Relationship manager

Yardi Voyager:

If you want something that will comes in term of "Proprietary" then choose Yardi Voyager.

Pros:

Centralize Data And Tasks In A Single Database

Efficient Lease Administration

Always Get Notifications For Critical Tasks, Dates, And Deadlines

Automate Workflows

Empower Accounting

Increase Business Intelligence

Cons:

It is not intuitive. Even for savvy computer users, until you get to know it, it is not an easy platform.

Yardi Voyager would not be good for those company whose front line employees are luddites with computers and don't easily pick things up. It is just too hard.

Pricing:

It usually cost around $10 to $35/month for simple services,

while more extensive it cost around $50 to $100+/month.

"I think ARTHUR is much appropriate REMs tool because of its cloud handling and user intuitive UI which is also available for mobile Devices and much cheaper than other option"