Why Excel is bad for your business

Why Excel is bad for your business


Excel, with its hundreds of columns and fancy mathematical equations. It looks so professional when really, you’re making property manager's lives hell?

It’s because Excel was not made looking after properties. In fact, it’s probably costing you time and increasing your stress-related computer rage. You might justify using spreadsheets because you only have one or a few properties, or because it’s what you are used to, or because you think that using software would be costly and just not worth it. So why do you ask, is Excel so bad for my business?

Excel is not an intuitive system

While it’s great for manually typing data into tiny rectangles, spreadsheets are not made for automatically generating invoices that you can print or give access to your tenants. Due to the lack of a central database with multiple components, you enter your data into one spreadsheet, then in another for tenant records, then another for receipt records, etc. Talk about triple handling! So, while it’s easy to create a spreadsheet, trying to actually turn it into a fully operational property management tool is not (unless you’re some spreadsheet master).

The worse thing is if you save your work on your computer and it crashes, you’re more than likely to crash out of horror as well.

Using spreadsheets for tasks that they weren’t built for is a long and windy path to go down. We live in a time where there are simple online tools that can help with correctly managing your property which cost less than $1 a day (that’s less than one coffee a week made by your local hipster).

Tools that store all your data securely online, can advertise your property, Track the rent, manage rent arrears, communicate with your tenant, do tenant checks, and much more

So, it’s up to you. Will you continue to waste hours managing data with spreadsheets, or join the online property management software gang?

Jason Gwerder
Tuesday, 18 August 2020

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