5 Reasons Why Your Property Management Company Needs a Managed Service Provider (MSP)
If you’re reading this, you’re probably sick and tired of managing all of your property management company’s technology alone. Because, let’s face it, you have a lot to manage (and it’s not just properties). We’re talking online portals, cybersecurity, troubleshooting tech problems, and making sure everything just works.
How do you handle all that without working two full-time jobs? You partner with an MSP.
A managed service provider (MSP) can take all that tech stress right off your shoulders so you can actually manage your properties and keep your tenants happy. Here are five reasons why hiring an MSP can make a major difference for your property management company.
1. Keep Tenant Data Secure
You aren’t a cybersecurity specialist. Maybe you have some basic antivirus software in place, but that alone isn’t enough to stop a dedicated hacker. Payment details, address, full names, and Social Security numbers are all high-value targets for cybercriminals. With 49% of cyberattacks targeting small businesses, you need to have proper security measures in place.
An MSP can breathe some much-needed life into your security with:
- Cutting-edge antivirus and endpoint security: More than just Windows Defender, many MSPs will implement powerful security tools across your company.
- Network encryption: Encryption is a must-have when transmitting sensitive information across the internet, and an MSP will know how to set it up properly.
- Reliable backups and business continuity: Thorough backup systems and a disaster recovery plan mean that if something goes wrong, you’re ready to not just get back online, but you’ll be able to recover anything you’ve lost.
- Regularly conducting security audits: Cybersecurity is not a one-and-done, and a good MSP will regularly check your security systems to make sure that your company and your tenants’ data remain secure.
2. Improve Tenant Management
There’s a good chance you’re part of the 73% of property management companies that use online portals. Maybe you use AppFolio, Buildium, TenantCloud, or one of the many other property management software systems out there. Whatever you use, an MSP can step in to manage these systems for you. And if you don’t have a portal yet, an MSP can help you pick the one that fits your needs.
Even better, an MSP can help remove any unnecessary overlap between portals. With over half of small to medium-sized businesses using five or more apps to get through the workday, removing redundancy (or SaaS sprawl) can help drastically cut down your costs. Combine this with the fact that an MSP will keep your property management software up to date and secure, and that’s a whole lot less for you to worry about.
3. Documentation and Analysis
Between leases, renewals, maintenance records, tenant communication, owner reports, and more, your property management company handles a massive amount of data. With SaaS sprawl being such a problem, there’s a good chance a lot of this data is scattered across multiple portals, drives, folders, and storage systems.
Partnering with an MSP means establishing a central data storage system, such as Microsoft 365. That way, both you and your clients can access documentation quickly and easily.
But that’s just the start. An MSP can help analyze all that data, using AI-driven metrics, uncover trends, identify opportunities, and support strategic business decisions.
4. Compliance Made Easy
All this data organization also helps with compliance – a constant challenge for any small to medium-sized business. A well-documented paper trail can make a massive difference in meeting regulatory compliance and passing audits.
A good MSP will be well-versed in industry-specific compliance regulations, including:
- Fair housing rules
- Data privacy regulations (like CCPA)
- PCI DSS for payment processing
- Lease and contract regulations
5. Tech Mastery, 24/7/365
We’ve talked big-picture stuff, and while an MSP is more than just an IT partner, they are also your IT partner, and they’re experts in keeping your tech running and putting in place tools that actually help your business.
Imagine this: it’s 9 pm and a tenant reports a leak. You already know about it because your MSP helped install leak-detection sensors in the building. When you call, they’re ready because a solid MSP offers true 24/7/365 support. They get that in property management, problems don’t wait for business hours.
Here are a few examples of what an MSP can take off your plate:
- Security camera systems to keep your tenants and your properties safe.
- Access control and key systems for better control over building access while providing simple entry for tenants and staff.
- IoT devices like smart thermostats, automated lighting, or smart locks can give your tenants modern conveniences.
- Wi-Fi optimization, including boosters and network management to provide strong internet signals across all your properties.
- Smart building sensors to improve energy efficiency, detect leaks, and monitor HVAC systems.
By adding technology that benefits both your company and your tenants, an MSP can help you attract more business without you having to manage any of it on your own.
The Key to an MSP
Working with an MSP means gaining an extension of your property management business. One that understands the unique challenges of property management and helps you find ways to improve and grow. Just as managing properties is about more than handling units, IT should be about more than just fixing computers.
If you’re interested in learning more about what we offer, check out our Property Management page. The 20 MSP has been supporting businesses like yours for decades, with experience across platforms such as Buildium, Yardi, AppFolio, Rent Manager, and TenantCloud. Simply put, we know our stuff, and we’re here to put that knowledge to work for you.
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About The 20 MSP
As a leading provider of managed IT services, The 20 MSP serves thousands of businesses nationwide, including single and multi-location organizations, delivering white-glove service, secure and streamlined IT infrastructure, and 24/7/365 support. We believe in building lasting relationships with clients founded on trust, communication, and the delivery of high-value services for a fair and predictable price. Our clients’ success is our success, and we are committed to helping each and every organization we serve leverage technology to secure a competitive advantage and achieve new growth.
