MRI Residential Management vs. OneSite Leasing and Rents

Well suited scenario - MRI Residential is obviously good for residential real estate. It doesn't make sense to just plug in industrial, hotel or commercial real estate management as those are different types of products. Those who have access to the cloud can easily download information off site to do an analysis. Less appropriate - Information may need to be scrubbed. For instance, there could be operating statements that are inputted incorrectly because items are miscoded.

OneSite Leasing and Rents is great for a decent-sized portfolio for all property management industries. While I currently use it for the Student Housing sector, I could see it doing the same functions in a Conventional and/or Senior space. I would not say OneSite is suitable for small property management businesses.

Incentivized

• Reporting
• Tracking Data

Incentivized

• Keeps accurate records.

Incentivized

• Sometimes the data that is outputted is not consistent (back end of the database is constantly being updated), have to follow up with our client relationship manager
• Sometimes very rigid
• Incremental cost to add on information (if we want MRI to host certain documents in the cloud)

• Limited accessibility - Various functions are only available through Internet Explorer.
• Reporting errors - Lately OneSite has experienced several errors within their reporting that have taken a decent amount of time to where it is affected business operations.
• Customer service - OneSite's general customer service line could use some overall improvement in the process it takes to resolve routine issues.

Incentivized

They have a terrible help center and the training tools and videos are useless and not helpful. They need to invest in better training tools and modules for people to refer to. Especially when there is no designated training person within a company to teach newcomers how to use it.

Incentivized

The support could use several improvements overall. Often times the agents you are speaking to go through a really slow and tedious troubleshooting process and when you attempt to explain what you've already tried, they still insist you begin at the beginning. The support you get doesn't always match the problem you are trying to solve and they have no online chat option available which is difficult when trying to resolve an issue and not having the time to spend on hold on the phone.

Incentivized

We had a proprietary access database, but wanted to utilize MRI because of support (annual fee is in the tens of thousands versus a hundred thousand plus build out). The user interface is pretty straight forward, and there is available training as well. Updates are done online via the SAAS website so we don't have to worry about any coding issues here in house.

I have only ever used a company made software and Yardi (for a short time). So I'm not too familiar with other software applications. However, in my experience, they all seem to operate very similarly. Most of the reporting and basic functions need to be universal for daily operations. Outside of that, I feel each has an equal amount of pros and cons to their software.

Incentivized

• Helps track income
• Helps with on-time billing
• Keeps us on budget with projects

Incentivized

• Increased efficiency
• Difficult to learn for some
• Increased costs: They charge per unit per month for absolutely everything.

Incentivized