Owning or managing rental property can be a dream come true, or a job full of headache and heartbreak. Often times, the difference between a positive experience and a negative one is lack of knowledge about the resources that will make property management easier.
The problems experienced by many property managers and landlords can be solved with improved organization and online tools that help streamline business tasks associated with managing rentals.
Ask yourself the following questions to see if you could benefit from accessing easy tools designed specifically for property managers and landlords. If you answer yes to any of these questions, property management software is right for you.
- Are you still going to the bank each month to deposit rent checks?
- Do you find yourself forgetting which maintenance request is for which property?
- Are you tracking rent payments and property expenses in a notebook or with excel?
- Do you pull out your calculator every month to manually add up pet fees, landscaping fees, and late fees for each tenants’ total balance due?
- Is tax season a nightmare as you try to remember which vendor or owner gets a 1099-MISC and who does not?
- Are lease renewals slipping away because you can’t remember which leases are about to expire?
- Are you losing tenant leads because you do not have an easy way to track them?
- Are you constantly buying new ink cartridges for printing out long lease agreements?
- Have your marketing efforts dwindled because submitting the same rental vacancy ad online is tedious and time-consuming?
- Are you sending individual emails to tenants about routine inspections?
- Are you approving renter applications based on a gut feeling and a conversation?
Developments in technology and cloud-based computing have paved the way for property managers and rental owners who seek better processes to streamline their business and boost profits. By incorporating the latest software applications into your daily operations, property management has evolved to become easier and more efficient.
While software won’t eliminate bad renters or prevent property damage, you will be able to find more responsible renters, keep up property maintenance and organize lease agreements, rental income, and more.
Management software has become an affordable way for all types of managers and owners to access powerful tools for effectively managing rental properties. Cloud-based software is easily available to anyone with an internet connection. The best part is, software hosted the cloud is significantly more affordable than similar desktop applications of the past. Affordability means more owners and managers are able to fit software into their operating budgets, allowing everyone to be competitive with larger firms.
Not only have systems developed to make managing rental properties online even easier, but renter’s today appreciates the convenience of online services provided by their property manager or landlord. Technology within the industry has evolved to be cost-effective, convenient and efficient for landlords to organize their data, improve business processes and provide extra services to their tenants.
Learn more from an expert in property management software in the video below from Janell at Rentec Direct.