SokoPro Property Bank is a service for managing the documents and projects related properties and housing companies. Ilona Huuhtanen, Account Executive at SokoPro, explains why Property Bank is the go-to software for housing companies.
Property management involves a great deal of bureaucracy. In Property Bank, all files from planning to maintenance are stored in one place: you can create your own project for each renovation project, building or apartment. This way, all documents and file versions are stored on one platform for the entire lifecycle of the housing company.
The more information, the more predictability
Paper archives pose data security risks, and missing documents complicate contracting and the sale of apartments. Digital solutions improve document management and transparency.
“If a company’s document management has been in a bad shape for a long time and the documentation is not up-to-date, this may weaken the buyer’s interest in the company . A company’s reputation is as good as the documented history of its repairs and the verifiability of its maintenance in terms of both the company’s financial and physical condition,” Huuhtanen says.
It is important that the latest information is always available, but old versions of documents must also be stored. All housing company information is important information, because it is very difficult to operate without it.
“For example, an estate agency can’t publish a listing for an apartment if all the documents required by law are not available. Contractors also can’t submit a tender if the documents or drawings of previous renovations that are necessary for making a tender can’t be found. The more information there is, the more predictability there is,” says Huuhtanen.
All documentation safe and secure
Using your own Property Bank enables you to manage and control your information. At the same time, it maintains transparency and trust between the housing company, the property manager and other stakeholders. All the necessary information is usually readily available if the property manager has managed the property for a long time, but situations may vary.
“For this reason, it’s important that the housing company is able to manage its own documents and all archives. The housing company also decides who it invites to use its Property Bank. You can create different profiles in Property Bank, for example, for the property manager, the board of the housing company and the shareholders,” says Huuhtanen.
Property Bank is a deliberate move towards digitalisation
Each housing company is an organisation with individual needs, so SokoPro customises the service for each company. The pricing of Property Bank is based on the number of apartments and the software add-ons purchased.
The speed of implementation of the program depends on the amount of material the company has to digitise. If the material is ready, program implementation will only take 1–3 days. Through Grano Oy, the digitisation of the material can also be done smoothly.
“The program is always carefully demoed before implementation.. In principle, an individual package is customised for each company.. I always say that Property Bank is not a financial risk for a housing company, but a deliberate act towards digitalisation,” encourages Huuhtanen.
At a webinar held in March 2024, SokoPro’s Ilona Huuhtanen gave tips for the use of Property Bank for the whole life cycle of properties and housing companies. Watch the full webinar recording here!