The Entrata Platform, from the company of the same name headquartered in Lehi, is a property management platform designed for leasing management of multifamily properties and tenants. The Entrata platform features a general ledger and accounting management, invoice management, as well as lead management with in-built marketing suite.
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Property Matrix
Score 9.1 out of 10
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Property Matrix is the software that gives property managers and landlords the tools they need to run their business in the cloud. It includes mobile apps, portals, banking integration, online payments, and marketing services. Tenants can sign their leases online and pay their rent online. Maintenance staff and vendors can use an app to review maintenance work orders and update them.
Entrata isn't perfect, but it is heads and shoulders above its competitors. They consistently respond to customer needs and continually add to their suite of services. The platform is attractive and was built for Google Chrome from the get-go, unlike some competitors that were stuck on Internet Explorer for years and years. That might not mean much to some, but I think it exemplifies that Entrata puts user experience first. It has a robust array of functions and I'm happy to use it. For email marketing, Entrata is great. If you market by text message, Entrata is probably not your best bet. Customers are opted out of texts by default, so we've had to explore other avenues for mass text communications.
Property Matrix has developed property management software that incorporates all the power of a highly technical accounting software with the conveniences of state-of-the-art check scanning capabilities. For years, I've struggled with the physical demands of check processing - receipt, delivery, recording and processing. Now I'm able to simplify all of these steps into just one encrypted scan. I'm also able to review every account from one convenient location - tenants, vendors, owners, accounts and check scanning are all accessible from the main screen. I'm able to review outstanding invoices, rent payments, management fees and so much more. It's very well suited for my business.
I especially like the all-inclusive dashboard for accounting. Multiple tabs keep everything organized and accessible.
Customized reports are extremely important. This software allows me to set my own parameters instead of forcing me to used canned reporting data.
Real-time information allows me to always know what task is required next. It also helps me stay focused and never worry that I've forgotten something.
The cloud-based software provides access from any location and device. Now I can spend less time behind my desk and more time in the field where I'm needed.
Sometimes, some of our customers won't require a follow-up but there isn't an option to opt them out of follow-ups but the leads will still appear.
Access. Some of the things that should be accessible to all team members aren't (creating templates, saving signatures, or seeing credit screening details) and putting in a ticket or asking for permission can be time-consuming.
I've found all aspects of this product to be exceptional for functionality, customization and flexibility. The only thing I've noticed is a limited range of easy-to-read background settings. There are 10 different themes, but all are blue and are a little difficult to read.
I've used Entrata with three companies, all of whom have had an in-house liaison to the company. Consequently, I haven't had to work directly with Entrata support on very many occasions. However, I have personally seen feature requests added to the platform in a timely manner. That kind of service is rare in this industry.
Entrata is completely cloud-based and provides much more integrated functionality, but fewer custom features. Also, Entrata's UI could be greatly improved. Overall, Entrata's API is more open and allows for more third-party integrations and ILS connectivity over time than its competitors. Combining the marketing portal (website, email marketing, SMS) with leasing management (renter invoices, rent collection, late fees, move in/move out checklists) provides for a unique, bundled service platform.
The Property Matrix property management software has had a positive impact for on-time tenant payments. Before implementing this program, I often had to visit each tenant to collect rent payments. With digital check scanning and EBT payments available, my tenants rarely miss a payment.
Maintaining my accounting records through this software has improved my own efficiency and allows me to spend more time visiting tenants. I used to spend several hours a day doing data entry. I've now cut that time in half and can even record pertinent information from the road.
I'm a better manager with this software and am gaining more respect from my tenants, vendors and owners. With important data at my fingertips, I'm equipped with critical information precisely when I need it. Now when an owner asks for details about a building, I can confidently relay the information without delay.
