Rental Property Software
Look into rental property software if you answer 'Yes' to any of these questions....
• Are you a landlord who owns multiple rental homes in your area or in several states?
• Are you frustrated because you’re working from several excel spread sheets?
• Are you constantly losing information because your current system for tracking information is inconsistent?
As a landlord you are only as good as the information you have at you finger tips.
If you allow a tenant to get the better of you because your information is not up to date the tenant will eat your profits.
When it comes to property repairs, tracking deposits, unit turns, late fees, unpaid landlords become notorious authority figures always on top, laying down the law on their tenants.
Sometimes, for tenants the landlord is perceived in a negative light, the one that is careless about their needs yet hungry for their money.
The landlord/tenant relationships may not always be ideal but it really doesn't have to be that way if you have all the information in your hand when you need it most and be able to trust that it's accurate.
Tenants want to live in a reasonable place without being bothered or feel like they are ripped off by their landlords. On the other side is the landlords who want to invest in their property, so maintenance and continuous follow-ups are done.
With conflicting interests the tenant/landlord relationships often go through a rollercoaster ride of ups and downs as tenants become insistent on a reasonable place to live and the landlords become overly stressed on the day-to-day affairs of their property trying to maximize income and watching expenses.
Is there a way for this problem to be resolved?
The answer to these questions is yes…
...but at what cost?
With this tool a landlord is better organized and equipped to handle the affairs of their rental business.
Oftentimes a landlord hires a property management firm to control all the day to day operation between themselves and their tenants.
While the management company serves as an effective go between the landlord and tenant the landlords pay a certain percentage to this company - an amount that could easily be saved and put back into their own pockets with the proper software.
Rental Property software provides a cheap alternative that helps the landlord control multiple properties and provide close-up communication with tenants while removing the cost of the management company.
With rental property software, tenants no longer have to go through several layers of managers until they finally reach the decision maker - the landlord.
As a landlord you might have many properties to monitor and keep track of and that's not always easy.
Landlords of multiple properties also have the responsibility of corresponding with multiple tenants. Because a landlord may have 10 rental properties and may be the only one managing, it wouldn't be a surprise if one or two tenants are left unattended, dissatisfied and angry (and the landlord might now even realize it...).
Rental property software saves time and resources for landlords while restoring services to their tenants.
With online rental property software both the landlords and tenants will be served effectively. The right online tool will efficiently keep track of all your rental business information.
Rental property software will help a busy landlord in the following ways:
• Enables tenants an online personal account
• Maintenance requests and work orders processed and handled quickly
• Online paying methods made easier
• Advertising for rental vacancies
• Easy tracking of mortgage/loans and property finances
• A good visibility of debt ratio, cash flow and property returns
• Control over your income and expenses through your rental property
It doesn’t matter whether you are dealing with one tenant or fifty. You must be able to relate to each tenant individually. Therefore you need to have a tenant file so whenever you need information about a tenant you only have to go to one source and retrieve all the tenant related information.
Take full control of your property tasks and expenses by managing everything with the help of rental property software.
With online access, landlord and tenant communication will be immediate, effective and efficient to access all your rental business needs.
Once you decide you want to get rental property software do your research because your options are endless....
Spend time talking with your bookkeeper and have input from them on what will work best for you.
Rental Property Software Resources
Streamline Management Software
Streamline software will completely automate the business processes for property management companies. With a powerful easy-to-use administration panel and full website integration, Streamline software makes the perfect solution for property managers.
Propertyware is a multi-tenant web-based solution ideal for managers with 20 to 5,000 units. The system delivers comprehensive management, accounting and communication tools via user-friendly dashboards.
I like that Buildium offers 3 customized software formats based on user type: Landlord Edition, Property Management Edition, and Associate Edition. Buildium's used to manage more than 375,000 units in 31 countries.
Rentec Direct Property Management
Available for Windows or Mac OS Rentec Direct is a comprehensive web-based software system for landlords and property managers. Capabilities include general ledger, online portals, electronic payment processing, and more.
AppFolio Property Manager
Designed and built for residential property managers, AppFolio Property Manager is a user-friendly, web-based solution that's available for one monthly fee, which includes training, support, and numerous online features.
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