Whether you own or manage rental properties, using property management software can save landlords and property managers money and valuable time. Property management software provides cost-effective and efficient tools to streamline your rental management tasks and help you take control of your business goals.
Here are 5 ways that property management software will save you money.
1. Efficient Marketing
- Stop wasting hours of valuable time advertising your vacant rental property. Maximize your vacant property’s exposure online through a rental listing syndication feature in your property management software. Create one marketing profile for your property with details and pictures and publish it to the most popular and frequently used real-estate rental listing websites. Rentec Direct’s syndication network includes nearly 20 distribution partners including Zillow, Trulia, Yahoo, Trovit, Oodle and many more.
- This efficient marketing feature in your property management software will not only help you fill your vacancies, increasing your rental income, but you’ll reach a larger pool of applicants so you can select the most qualified tenant for your property.
2. Secure Reliable Tenants that Pay Rent on Time with Tenant Screening
- Property management software provides the tools to instantly order credit and background reports on your perspective tenants. Generating instant reports helps you streamline your application process so you can fill vacancies faster and alleviates the high cost of an empty property.
- Properly screening tenants is the only way to make sure you are taking the appropriate steps to ensure your properties are rented by reliable and responsible tenants. An applicant’s credit report reflects his or her tendency to pay bills on time and reveals any debts that might prevent them from paying their full rent amount on time, every time. Understanding the fiscal responsibility of your applicant can help you avoid dealing with late payments, or worse-no payment.
- Learn more about Instant Credit Reports and Tenant Screening on RentecDirect.com
3. Reduce Evictions and Vacancies with Quality Tenants
- Evictions and property vacancies are some of the most costly expenses for property managers and landlords. Tenant screening through your online software not only demonstrates an applicant’s creditworthiness but property managers and landlords can also assess an applicant’s eviction history and criminal background.
- Eviction reports reveal an applicant’s rental history and shows any prior evictions. Pulling a criminal report on an applicant shows an applicant’s willingness to follow rules and gives an idea of the likelihood of criminal activity taking place on your property. Avoid renting to an applicant with a history of evictions or disregard for following the rules, to save yourself from dealing with an eviction or with illegal activity. Evictions can become extremely costly, especially if a disgruntled tenant damages your property during the process. (Just make sure you are adhering to the Fair Housing Act).
4. Timely Maintenance with Work Order Tracking
- Maintenance issues on your property can become extremely expensive if they are not fixed in a timely fashion. Property management software gives your tenants a convenient way to submit maintenance requests through a Tenant Portal. Property managers are then able to track and manage the progress of the work order from the portal. This efficient maintenance management feature in your property management software saves you money.
5. Collect Rent on Time with Online Payments
- Forget the “lost in the mail” excuse. With property management software, your tenants are able to pay rent online directly from their checking account with ACH payments or a credit or debit card. Tenants can schedule monthly, routine rent payments, so you receive your rental income on time, every time.
Do you use property management software to manage your rental properties? What are some of your favorite features?