Are you a beginner landlord? Consider obtaining property management software. Property management software is extremely beneficial to any landlord, but even more so for new landlords, who can benefit from easy automation and access to numerous helpful tools.
New landlords have many exciting things to learn and tasks to discover. However, managing these tasks manually can be overwhelming for many people, especially those who also work full-time. Beginner landlords who also work full-time can end up with a long, time-consuming to-do list.
This is where property management software comes in handy. Property management software is a highly useful tool for any landlord or property investor. It can streamline and automate essential day-to-day rental tasks, leaving you more time to focus on what matters. This will free up time for family and friends, while also ensuring that your tenants have an ideal living situation and that you can be the best possible landlord.
Why Beginner Landlords Need Property Management Software
Property management software can make being a landlord easier regardless of how experienced you are, but beginner landlords stand to reap the greatest benefits of using such tools. Property management software can streamline landlords’ jobs at any stage of their career and can promote easy growth if a landlord decides to grow their business.
Benefits of property management software include automating repetitive tasks, simplifying management of maintenance, leads, and leases, and the tenant screening process. These can all make the job of a new landlord feel far less daunting than it would be to attempt to perform the work oneself.
Learn more: Do I Need Property Management Software?
How to Choose Property Management Software
Choose property management software that best meets your needs at a price point you can afford. When you choose a property management software solution, it is advisable to create a list of the most important features a software can have. Important features you may want include strong customer support or credit reporting, but you should prioritize features that not every software option has.
When you have this list, set a budget for your software. The pricing differences between certain options can be quite significant, and in many cases, you get what you pay for. Extremely low-cost options often come with fewer features or require an additional payment to access them.
Learn more: What Property Management Software Gets the Highest Reviews?
Rentec Starter for Beginner Landlords
Rentec Starter is a new beginner tier added to Rentec Direct for landlords just getting started with their rental business. Designed for beginner landlords, Rentec Starter offers essential property management features at a lower price. For landlords who have fewer than ten properties, this software tier is an excellent option to get started. Getting familiar with property management software while you’re getting started means you’ve streamlined your tasks from the start, allowing you to grow strategically without stress.
When you have more than ten properties, Rentec Pro can be an easy upgrade, offering more features that become extremely useful for larger portfolios and support growth. These features can become essential for streamlining your property management career and even make it easier for those who work full-time to also manage their properties without spending all of their time on management tasks.
Key Features of Rentec Starter:
- Free Training & US-based customer support: all clients get access to free one-on-one training regardless of portfolio size
- Full bank, property, and tenant accounting: track income/expenses, generate reports and ledgers
- Tenant screening: credit reports, criminal records, eviction history, income verification
- Vacancy marketing: listings syndicated to the top 10 rental listing sites, plus online applications and lead tracking
- Online rent payments: ACH ($2/ea), Credit/Debit (3.5%) (Free ACH when you upgrade to Pro)
- Tenant portal mobile app (Resident Connect): tenants pay rent, submit maintenance requests, and buy renters insurance
- Work order & maintenance tracking: enter your own or let tenants submit requests through the portal
Final Thoughts
As a beginner landlord, you have a lot on your plate. Property management software can assist significantly in removing these challenges and enabling you to work better and more efficiently.
Property management software can not only make your job easier, but can also save time. This can enable you to spend more time on more important tasks, such as expanding your business and spending more time on the important things in life, like friends and family. Consider property management software for beginner landlords to improve your business and ensure that you are the best landlord you can be.
