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How MDS helps its customers manage property in New York

Managing properties in New York presents a series of challenges not faced by operators in other parts of the country. Local laws and regulations are constantly in flux, and it is important to select a property management software provider that can adapt to these changes quickly...

Stay DHCR Compliant to Add Value

Staying DHCR Compliant Adds Value After attending CHIP's annual "Build, Buy, Hold, Sell: Strategies and Expectations for the NYC Real Estate Market" event, the big takeaway relevant to our business is clear. Staying DHCR compliant makes your portfolio more valuable. Savvy...

The New York City Apartment Management Checklist

Every now and then, we still run into a company managing apartments in New York City that doesn't subscribe to the New York City Apartment Management Checklist. While there is no silver bullet to keeping track of absolutely everything you will ever need to know in the world of...

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MDS Presents at CHIP’s “Technology & Multifamily Buildings” Seminar

On February 8, 2017, Adam Friedberg, Vice President at MDS Property Management Software, sat as an expert panelist at CHIP's "Technology and Multifamily Buildings: Amenities, Management, and Revenue Opportunities" seminar hosted at the New York City Bar Association to a capacity crowd. Presenting on the topic of "Internal Back-office Management Systems," Mr. Friedberg went on to participate in a...

“Wow, that’s fast.” RapidPay is Live!

MDS officially launched our highly anticipated RapidPay Invoice Imaging system this week with a party at Heartland Brewery's Empire State Building location and I'm more excited than ever about what this product is going to do for our clients.  One of our Beta testers proactively came up to me and told me that "it took me a day to process this many invoices (as she held her hands fairly wide...

Why Separate Modules for Commercial Real Estate Management?

It has never made much sense to our team that you should have to log into a separate system to handle commercial units.  After all, the core of what is required of a good residential or commercial property management system is the same.  Namely, bulletproof accounting, a well designed and easy to navigate user interface along with other core functionality like document imaging and work order...

The RFP Approach to Purchasing Property Management Software

As someone that has seen and completed quite a few Property Management Software RFPs I can really sympathize with anyone trying to put one of these together.  The point of this exercise is of course to end up with a side by side comparison of competing systems to eventually choose the best solution. The potential problem with this approach is that it is exceptionally difficult for anyone to...

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Setting a Higher Bar in New York

The more time I spend in the property management software industry, the more confident I get in the level of service and the quality of the product that we offer our clients.  Just recently, an intelligent, thoughtful prospect who’s experienced managing very large portfolios with some of the most popular (and expensive) programs on the market today, told me that “nobody is really happy with...

5 Things to Watch Out for When Shopping for Property Management Software

The flood of property management software systems coming onto the market today is making it more and more difficult for a consumer to make an educated decision as to which product will best suit their needs.  Here are five things to watch out for when shopping for property management software: 1.  Vendors That are New to the Market. It is a monumental task to design and test a comprehensive,...

Who Is Shopping for Property Management Software?

A quick look at the list of our pending contracts gives a pretty good sense of who is out there shopping for property management software.  Really, our prospective clients almost always break down into several broad categories. At any given time, our team is consulting with at least several companies that are in the market because their current system is text based and outdated.  Most of the...

How Are You Filing Your Annual Rent Registrations with the DHCR?

Well, like it or not it’s that time of year again- July 31st is fast approaching and it is time to file your Annual Apartment Registrations with the DHCR for rent stabilized apartments.  As many building owners in New York can attest, this process can be quite tedious and time consuming. To file correctly, owners should be looking back on what was charged on April 1 and taking into account any...

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