Come to find out being a landlord is a lot harder than people perceive it is.It seems people believe that all the stress falls on the tenants who have to work hard in order to pay their rent. They think that the landlords only task is to sit back and collect rent.
I can tell you first hand that things are a little more complicated for landlords than that. Most landlords have a job in addition to managing there rentals, many have families to take care of, plus occasionally there are tenants who cause trouble.
There are several ways a tenant can cause trouble for their landlord. For instance, failing to pay rent on time or never paying at all is big trouble for the landlord, it leads to lost rent revenue and potentially fees and lost time if an eviction is filed. Another hassle that landlords have to deal with is disputes among; tenants in common or neighbors. Last but not least if your tenant is committing illegal acts on your property it can have negative consequences in regards to the future rent-ability of your property not to mention there can be huge clean up costs associated depending upon what the activity is. The possibilities of negative activities a tenant might do are endless and hard to predict so it’s hard to be prepared for every scenario.
In addition to being prepared for the trouble a tenant may cause there are also files to keep. Files like the lease contract, receipts for expenses and on and on. Depending on the number of properties managed this can require a lot of organizing and maintenance on the landlord or property managers part.
It is imperative to find good property management software for many reasons;
1.Help weed out some of those prospective tenants that are going to cause trouble with reliable and quick tenant screening is very important.
2.Another key feature for me would be that it makes organizing important files easy and has the capability to store and backup my data safely online.
3.The software should be compatible with Windows, MAC, Android, iPad and iPhone.
4.The software should offer solutions that suit the needs of landlords with just a couple properties to large property management companies that manage thousands of properties.
What are some other key features that you look for in property management software?