The challenge: Outgrowing legacy systems
For over a decade, Performance Asset Management, a leading property management company based in Southeast Wisconsin, relied on Propertyware and other integrations to manage its 650+ units. While these systems served their purpose for a time, CEO Jim Miller recognized a growing set of pain points that hindered efficiency and future growth.
"Propertyware’s outdated tech architecture, a mix of 90s technology and Salesforce, made it incredibly difficult to train new staff," Jim explains. This led to a reliance on numerous internal workarounds, creating bureaucratic bottlenecks and operational inefficiencies. Furthermore, limited and costly API access ($1,500/month for partial functionality) restricted their ability to integrate with other essential tools and leverage modern solutions. Reconciliation issues and billing inaccuracies also plagued their financial processes, impacting client trust. The shift to a digital workforce during COVID-19 further exposed the limitations of their existing, less intuitive platforms.
The decision: A strategic leap forward
Jim understood that a software switch was a significant undertaking, having experienced a challenging transition in the past. However, the strategic imperative for an open, flexible, and intuitive platform became undeniable, especially with the rise of AI.
After researching various solutions, Rentvine stood out. Its modern, intuitive user interface promised easier staff training and greater operational transparency. Crucially, Rentvine offered full API access at no additional cost, a stark contrast to their previous provider. This open API was a game-changer for Jim, who foresaw the critical role of data access in future-proofing his business.
"You have to have an open API if you're going to be in business in ten years... that made it like, a no brainer, and we had to do it." – Jim Miller, CEO, Performance Asset Management
The transition: Smooth and supported
Despite the inherent complexities of migrating years of data and processes, Performance Asset Management’s transition to Rentvine was remarkably smooth. Led by Amber from the Rentvine team, the implementation was completed ahead of schedule.
"The person that led our onboarding, she just crushed it. It was her responsiveness. She told us what we had to do and when we had to do it. And then just continually guided us to checking the stuff off our list in a super efficient way." – Jim Miller, CEO, Performance Asset Management
This dedicated support, coupled with Rentvine’s comprehensive training resources and documentation, empowered their team to quickly adapt. The company successfully processed its first rent payments through Rentvine with minimal disruption.
Early results: Efficiency, savings, and future readiness
Even in the early stages post-migration, Performance Asset Management is already realizing significant benefits:
Cost savings: By leveraging Rentvine’s built-in construction module, the team was able to eliminate a third-party tool and consolidate their operations into a single platform. Combined with the removal of high-cost API fees from their previous system, these changes have already resulted in substantial monthly savings.
Operational efficiency: Consolidating maintenance and financial data within Rentvine has drastically reduced reconciliation efforts and bureaucracy. The intuitive dashboards provide immediate, comprehensive visibility into their business operations.
Improved accuracy: With all data in one system, financial reconciliation is more accurate, addressing a key pain point and enhancing trust with investors.
Enhanced training: Rentvine’s built-in training videos and guides have made onboarding new staff significantly easier, allowing for greater self-service and faster proficiency.
AI and automation readiness: The open API is enabling Performance Asset Management to integrate with other critical systems like HubSpot and Rent Engine, and explore custom AI agents for real-time data access and improved responsiveness to investor inquiries.
Performance Asset Management's move to Rentvine demonstrates that strategic software migration, while a significant change, is not only doable but can unlock immense value, positioning a company for sustained growth and innovation in an evolving digital landscape.
