{"id":7578,"date":"2021-05-03T10:00:26","date_gmt":"2021-05-03T17:00:26","guid":{"rendered":"https:\/\/www.rentecdirect.com\/blog\/?p=7578"},"modified":"2022-06-16T08:31:15","modified_gmt":"2022-06-16T15:31:15","slug":"management-software","status":"publish","type":"post","link":"https:\/\/www.rentecdirect.com\/blog\/management-software\/","title":{"rendered":"Property Management Software, Solutions, Strategies, and Reviews"},"content":{"rendered":"<p><a href=\"https:\/\/www.rentecdirect.com\/blog\/management-software\/property-management-software-solutions-strategies-resources\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-15149 size-full\" src=\"https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2020\/02\/Property-Management-Software-Solutions-Strategies-Resources.jpg\" alt=\"property management software solutions and strategies\" width=\"950\" height=\"558\" srcset=\"https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2020\/02\/Property-Management-Software-Solutions-Strategies-Resources.jpg 950w, https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2020\/02\/Property-Management-Software-Solutions-Strategies-Resources-300x176.jpg 300w, https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2020\/02\/Property-Management-Software-Solutions-Strategies-Resources-600x352.jpg 600w, https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2020\/02\/Property-Management-Software-Solutions-Strategies-Resources-768x451.jpg 768w\" sizes=\"(max-width: 950px) 100vw, 950px\" \/><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Property managers that thrive execute one thing very well:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Efficiency.<\/span><\/p>\n<p>Because there are so many moving parts that go into running a successful rental business, property managers need to have a system that keeps them efficient and effective. \u00a0Property management software gives landlords, property managers and investors a convenient solution to organize their rental business and streamline their workflow.<\/p>\n<h2>So, what is property management software?<\/h2>\n<p><span style=\"font-weight: 400;\"><em>Property management software is an application design for property managers and landlords to organize their rental properties, accounts, renters, owners, and financials<\/em>. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Software solutions created specifically for the real estate industry also provide useful features for streamlined rental management, like online rent payments, options to post rental vacancies online, screen prospective tenants, have renters sign lease agreements online, and, most importantly, full reporting functions for accounting.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Modern applications make software for property management easy to use on a smartphone, tablet, and mobile device for rental professionals on the go. From mobile lease execution and work order documentation to instant tenant screening and uploading new photos for online rental ads, it can all be done from your preferred device. <\/span><\/p>\n<h3>Property Management Software Solutions<\/h3>\n<p><span style=\"font-weight: 400;\">Here\u2019s a look at today&#8217;s most popular\u00a0property management software companies based on a suite of features designed to make your job in rental management easier and more efficient.<\/span><\/p>\n<table width=\"100%\" cellspacing=\"0\" cellpadding=\"4\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"50%\">\n<h4 align=\"left\"><a href=\"https:\/\/www.rentecdirect.com\/\">Rentec Direct<\/a><\/h4>\n<ul>\n<li><a href=\"https:\/\/www.rentecdirect.com\/landlord-software\">Rentec Pro for DIY Landlords<\/a><\/li>\n<li><a href=\"https:\/\/www.rentecdirect.com\/property-managers\">Rentec PM for Property Managers<\/a><\/li>\n<\/ul>\n<\/td>\n<td width=\"50%\">\n<h4 align=\"left\">Founded in 2007, works with landlords and property managers in the 1-2500 unit range.<\/h4>\n<p>Pricing starts at $35\/mth.\u00a0 No setup fees.\u00a0 Priority support is included.<\/p>\n<p>No unit minimum.<\/td>\n<\/tr>\n<tr valign=\"top\">\n<td width=\"50%\">\n<h4 align=\"left\"><a href=\"https:\/\/www.buildium.com\/\" rel=\"nofollow noreferrer\">Buildium<\/a><\/h4>\n<ul>\n<li>No published support for DIY landlords<\/li>\n<li><a href=\"https:\/\/www.buildium.com\/pricing\" rel=\"nofollow noreferrer\">Growth or Premium<\/a> plans available for property managers<\/li>\n<\/ul>\n<\/td>\n<td width=\"50%\">\n<h4 align=\"left\">Founded in 2004, works with property managers in the 200-2500 unit range.<\/h4>\n<p>Pricing starts at $160\/mth + setup fees for their basic inclusive pricing plan. Additional fees for premium features.\u00a0 Priority support costs extra.<\/p>\n<p>No unit minimum.<\/td>\n<\/tr>\n<tr valign=\"top\">\n<td width=\"50%\">\n<h4 align=\"left\"><a href=\"https:\/\/www.appfolio.com\/\" rel=\"nofollow noreferrer\">Appfolio<\/a><\/h4>\n<ul>\n<li>No published support for DIY landlords<\/li>\n<li><a href=\"https:\/\/www.appfolio.com\/pricing\" rel=\"nofollow noreferrer\">Core or Plus plans<\/a> available for property managers<\/li>\n<\/ul>\n<\/td>\n<td width=\"50%\">\n<h4 align=\"left\">Founded in 2006, works with property managers in the 200-2500 unit range.<\/h4>\n<p>Pricing starts at $280\/mth + setup fees.<\/p>\n<p>50 unit minimum.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">All three of these solutions offer comparable features for property managers, landlords, and investors. Continue reading to discover how to pick the right software for you.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The following list includes the complete list of property management software solutions for managers and owners for all types of portfolios and budget. \u00a0<\/span><\/p>\n<ul>\n<li><a href=\"http:\/\/www.123landlord.com\/\"><span style=\"font-weight: 400;\">123Landlord<\/span><\/a><\/li>\n<li><a href=\"https:\/\/acturent.com\/\"><span style=\"font-weight: 400;\">Acturent<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.entrata.com\/\"><span style=\"font-weight: 400;\">Entrata<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.hemlane.com\/\">Hemlane<\/a><\/li>\n<li><a href=\"http:\/\/www.landlordmax.com\/\"><span style=\"font-weight: 400;\">LandlordMax<\/span><\/a><\/li>\n<li><a href=\"http:\/\/www.onsitepropertymanager.com\/\"><span style=\"font-weight: 400;\">OnSite Property Manager<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.pilera.com\/\"><span style=\"font-weight: 400;\">Pilera<\/span><\/a><\/li>\n<li><span style=\"font-weight: 400;\"><a href=\"http:\/\/www.point2propertymanager.com\/\">Point<\/a>\u00a0<\/span><a href=\"http:\/\/www.point2propertymanager.com\/\"><span style=\"font-weight: 400;\">2 Property Manager<\/span><\/a><\/li>\n<li><a href=\"http:\/\/www.propertyboss.com\/\"><span style=\"font-weight: 400;\">PropertyBoss<\/span><\/a><\/li>\n<li><a href=\"http:\/\/www.propertyboulevard.com\/\"><span style=\"font-weight: 400;\">Property Boulevard<\/span><\/a><\/li>\n<li><a href=\"http:\/\/www.propertyware.com\/\"><span style=\"font-weight: 400;\">PropertyWare<\/span><\/a><\/li>\n<li><a href=\"http:\/\/re-leased.com\/\"><span style=\"font-weight: 400;\">Re-Leased<\/span><\/a><\/li>\n<li><a href=\"https:\/\/rentables.com\/\"><span style=\"font-weight: 400;\">Rentables<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.rentalincomeexpense.com\/\"><span style=\"font-weight: 400;\">Rental Income Expense<\/span><\/a><\/li>\n<li><a href=\"http:\/\/www.rentecdirect.com\/\"><span style=\"font-weight: 400;\">Rentec Direct<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.rentigo.com\/\"><span style=\"font-weight: 400;\">Rentigo<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.rentmanager.com\/\" rel=\"nofollow noreferrer\"><span style=\"font-weight: 400;\">Rent Manager<\/span><\/a><\/li>\n<li><a href=\"http:\/\/www.rentpost.com\/\"><span style=\"font-weight: 400;\">RentPost<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.rentalutions.com\/\"><span style=\"font-weight: 400;\">Rentulations<\/span><\/a><\/li>\n<li><a href=\"http:\/\/www.simplifyem.com\/\"><span style=\"font-weight: 400;\">SimplifyEm<\/span><\/a><\/li>\n<li><a href=\"https:\/\/sparkrental.com\/landlord-app\/?fbclid=IwAR2asG6lX1hv_mbbQ3deNsu_68RDdchma0Tuq3vJV1y0ukJu4Nvuj5F13FI\">SparkRental<\/a><\/li>\n<li><a href=\"http:\/\/www.tenantcloud.com\/\" rel=\"nofollow noreferrer\"><span style=\"font-weight: 400;\">TenantCloud<\/span><\/a><\/li>\n<li><a href=\"http:\/\/www.tenantfile.com\/\"><span style=\"font-weight: 400;\">TenantFile<\/span><\/a><\/li>\n<li><a href=\"http:\/\/www.totalmanagement.com\/\"><span style=\"font-weight: 400;\">Total Management<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.truerent.com\/\"><span style=\"font-weight: 400;\">TrueRent<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.turbotenant.com\/\"><span style=\"font-weight: 400;\">TurboTenant<\/span><\/a><\/li>\n<li><a href=\"http:\/\/www.unitconnect.com\/\"><span style=\"font-weight: 400;\">UnitConnect<\/span><\/a><\/li>\n<li><a href=\"https:\/\/unitdash.com\/\"><span style=\"font-weight: 400;\">Unitdash<\/span><\/a><\/li>\n<li><a href=\"http:\/\/www.yardi.com\" rel=\"nofollow noreferrer\">Yardi<\/a><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">There\u2019s a lot of companies on this list, so keep reading to find out how to pick the <a href=\"https:\/\/www.rentecdirect.com\/blog\/best-property-management-software\/\" target=\"_blank\" rel=\"noopener noreferrer\">best property management system<\/a> for your business.<\/span><\/p>\n<h2>Do I need property management software?<\/h2>\n<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <a href=\"https:\/\/www.rentecdirect.com\/blog\/do-i-need-property-management-software\/\">problems experienced by many property managers<\/a> and landlords can be solved with improved organization and online tools that help streamline business tasks associated with managing rentals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While software won&#8217;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.<\/span><\/p>\n<h2>Can I just use QuickBooks to manage my rental properties?<\/h2>\n<p><span style=\"font-weight: 400;\">Sure, QuickBooks is the leading accounting solution for all business options. But what if there was an accounting program that gave you the powerful reporting functions of QuickBooks but was <\/span><i><span style=\"font-weight: 400;\">already<\/span><\/i><span style=\"font-weight: 400;\"> set up with categories and ledgers for your rental business. That\u2019s exactly what a good rental management software is &#8211; \u00a0QuickBooks for landlords. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also with software designed specifically for your industry, you will get industry-specific tools like:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A tenant portal for your tenants to login to and make maintenance requests and pay their rent<\/span><\/span><\/li>\n<li><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">An owner portal for owners to review their property performance<\/span><\/span><\/li>\n<li><span style=\"font-weight: 400;\">Built-in tenant screening so you can screen your tenants right within the same application<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">QuickBooks is great for general accounting, but it is missing all the tools which will make you the best property manager on the block. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Think about this: If a tenant has the option between a property manager who cannot provide them online access vs one that can, who will they choose? \u00a0Likewise, would today&#8217;s owners be happier with instant online access to review their property performance, or do they like to wait a month for you to mail out statements? <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Plus, this \u201cQuickBooks for landlords\u201d solution comes with tons of other useful features that you will need to manage your rental properties, that QuickBooks won&#8217;t give you.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-7584\" src=\"https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2017\/05\/Dozen-of-additional-features-designed-for-property-management.png\" alt=\"Quickbooks vs landlord software\" width=\"600\" height=\"350\" srcset=\"https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2017\/05\/Dozen-of-additional-features-designed-for-property-management.png 600w, https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2017\/05\/Dozen-of-additional-features-designed-for-property-management-300x175.png 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/p>\n<h2>What features does a complete software solution provide?<\/h2>\n<p><span style=\"font-weight: 400;\">Property management needs can be broken down into 4 areas of operation and the right software will provide tools to complete all these tasks easily in one place: <em><strong>accounting, operations, leasing, and management.<\/strong><\/em><\/span><\/p>\n<blockquote>\n<h3>Accounting Features<\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Full general ledger accounting for properties, tenants, and owners<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Accept online payments via ACH or credit card from your tenants<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Property managers can pay owners electronically via ACH<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Trust account certified software that complies with your state&#8217;s real estate board<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">An extremely robust reporting system<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Built-in 1099-MISC e-filing system<\/span><\/li>\n<\/ul>\n<h3>Operations Features<\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A professional website to promote your company and listings online<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Give your owners access to valuable property data through your owner portal<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Create, share, and store custom forms, lease agreements, and accept electronic signatures<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Store and share important documents with owners and tenants in the file library<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Keep track of maintenance and repairs with the work order management system<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Setup unlimited user accounts for your team to access the software securely.<\/span><\/li>\n<\/ul>\n<h3>Leasing &amp; Management Features<\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Receive rent payments and take maintenance requests via the tenant portal<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The most accurate tenant screening reports are built right into the platform<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Your own website with an advanced lead tracking tool for prospective tenants<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Automatically syndicate your vacancies to the world&#8217;s top property listing services<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Provide online applications and accept application payments for your rental vacancies<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Built-in email and text-message (SMS) service for convenient communication with your tenants, owners, and vendors<\/span><\/span><\/span><\/li>\n<li style=\"font-weight: 400;\">Mobile rental property inspection tool for easy move-in and move-out inspections.<\/li>\n<\/ul>\n<h3>Additional Feature for Property Managers and Landlords<\/h3>\n<ul>\n<li>Mobile optimized software for easy use on a smartphone, tablet or mobile device<\/li>\n<li>Download and sync financial transactions between your software and your bank<\/li>\n<li>Synchronize all your financial data with QuickBooks<\/li>\n<li>Unlimited recurring expenses and fully automated management fees<\/li>\n<li>Ratio Utility Billing (RUBS) for managing common area maintenance expenses<\/li>\n<li>Your data is secured using bank-grade security &#8211; the toughest in the industry.<\/li>\n<\/ul>\n<p>&nbsp;<\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Equally important to the list of features, your software should provide you with an excellent client success team and highly-rated client support. <\/span><\/p>\n<p><strong>Consider This:<\/strong><\/p>\n<p>Do you really want to be talking to an overseas tech support company who doesn\u2019t understand that you need a renter payment to go through immediately so your owner can pay their mortgage payment?<\/p>\n<h2><strong>How much does software for property managers and landlords cost?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Rental management software typically costs about $1 per unit for an all-inclusive product. Additional expenses can include fees for payment processing, tenant screening, website hosting and registration, and tax filing services.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cloud-based software companies, like most PM software solutions,\u00a0typically charge users by the month or offer a discount for an annual payment made in advance. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Management software has become an affordable way for all types of managers and owners to access powerful tools for effectively managing rental properties. \u00a0Cloud-based software is easily available to anyone with an internet connection. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The best part is, software hosted in the cloud is significantly more affordable than similar desktop applications of the past. \u00a0Affordability means more owners and managers are able to fit software into their operating budgets, allowing everyone to be competitive with larger firms.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You will also be able to find <strong>free property management software<\/strong>. The free versions will have limited featured and are best designed for landlords or managers with less than 10 units.<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Question to ask while shopping: \u00a0<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">How long has your pricing been this rate? \u00a0How many times in the past 5 years have you increased pricing on existing customers?<\/span><\/em><\/p>\n<hr \/>\n<h2>Property Management Software Cost<\/h2>\n<p>When looking at software, you may be surprised that some solutions will be out of your price range due to the required monthly minimums or steep onboarding fees.<\/p>\n<p style=\"padding-left: 30px;\"><strong>Minimum Monthly Payment<\/strong><br \/>\n<span style=\"font-weight: 400;\">Find one that fits the size of your business and your budget. Additionally, the right software should grow with you. <\/span><\/p>\n<p style=\"padding-left: 30px;\"><span style=\"font-weight: 400;\">Some companies will require you to have a $200- $300 monthly minimum fee. So for an investor with less than 100 properties, these solutions are impractical.<\/span><\/p>\n<p style=\"padding-left: 30px;\"><strong>Onboarding\/Startup Fees<\/strong><br \/>\n<span style=\"font-weight: 400;\">One of the highest costs associated with introducing a property management solution to your business is the integration and onboarding fees. Some companies will charge anywhere from $500-$1,000+ depending on how many units you have.<\/span><\/p>\n<p style=\"padding-left: 30px;\"><span style=\"font-weight: 400;\">Look at what you get with the setup fee because some of the property management software companies offer free setup, and they also help migrate your data into the software and train you (all included in the base price). \u00a0A setup fee generally is used by the company you are choosing to pay the salesperson selling the account. \u00a0I personally tend to steer clear of companies requiring setup fees in this industry.<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\"><strong>Question to ask while shopping:<\/strong> \u00a0<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">If you require a setup fee, will you provide an agreement in writing that the fees will be refunded if I am displeased with the features I am sold or if I feel like the sales person sold something that did not exist or was incomplete?<\/span><\/em><\/p>\n<hr \/>\n<h3>Do I have to sign a contract?<\/h3>\n<p><span style=\"font-weight: 400;\">Depends on the company. A confident software solution will give their clients the option to commit as long as the client wants -that means no contract required! <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Alternatively, some software companies think it\u2019s necessary to lock their clients into a year-long contract. What happens if the software isn\u2019t all it\u2019s cracked up to be and you want to change software? What if you find out about a new feature another solution is offering and you want to switch over? If you are locked into a contract it will be harder to make a choice based on what\u2019s best for business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also consider many software companies consist mostly of poorly trained salespeople who will always say &#8220;yes&#8221;, even if the software doesn&#8217;t do something you want in order to get you to sign a contract. \u00a0Yet another reason contracts can be bad as it incents the sales staff at the company to push the envelope. \u00a0With a month-to-month agreement, you don&#8217;t have this issue.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>A good question to ask when shopping if they require a contract:<\/strong> \u00a0<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">If you require a contract, will you give me an agreement in writing stating that I can get a refund of my setup costs and be let out of the contract immediately if any of the features I am sold are not as advertised? <\/span><\/em><\/p>\n<h3>What if I want to change software? Can I download my account history and make the jump?<\/h3>\n<p><span style=\"font-weight: 400;\">This is a very important question to ask a company representative when you are looking at software. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A good software company should let you keep and download your data and records if you need to. This is very important for property managers and landlords who need to keep business records and tenant files for years.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some solutions do not make it easy to download your files and data, claiming that the information is proprietary. This can make it nearly impossible to change solutions if you find something better.<\/span><\/p>\n<hr \/>\n<p><strong><span style=\"font-weight: 400;\"><strong>Question to ask while shopping<\/strong>: \u00a0<\/span> <\/strong><\/p>\n<p><em><span style=\"font-weight: 400;\">Does your software let me download all of my ledgers into a universal format like CSV or Excel, and can I easily download all the files I have uploaded?<\/span><\/em><\/p>\n<hr \/>\n<h2>Does rental management software include tenant screening?<\/h2>\n<p><span style=\"font-weight: 400;\">Most property management applications have partnered with the leading credit bureaus and criminal record agencies to provide users with instant tenant screening reports. When linked with an online rental application, ordering applicant screening reports is extremely easy with property management software. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tenant screening reports are typically an added fee on top of the monthly subscription. These are one-time fees that can be passed along to your renters (if your state laws allow it). <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A software company should prioritize legal access to tenant screening reports. They should be upfront with how they are meeting the guidelines established by the Federal Fair Credit Act. This will include requiring an application for credit access. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, not all tenant screening is created equal. \u00a0Some &#8220;nationwide&#8221; reports can cover as few as 20 states and if your applicant had a felony or eviction in any of the other 30, you wouldn&#8217;t know.<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\"><strong>Question to ask while shopping:<\/strong> \u00a0<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">Does your software have built-in credit, criminal, and eviction reports available so I can screen my applicants? \u00a0Also, how comprehensive are your nationwide reports and what states do they get data from?<\/span><\/em><\/p>\n<hr \/>\n<h2>Cloud-based vs. Desktop Application Software &#8211; which is right for me?<\/h2>\n<p><span style=\"font-weight: 400;\">Cloud-based software allows users to access their business data from any internet connected device. \u00a0Cloud-based software require a monthly subscription fee and is typically a lower upfront cost compared to a desktop application<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Desktop application software is downloaded and installed to your computer (think Outlook and Microsoft Word). An installed software is only accessible from that one device. Desktop applications require a one time fee. If something happens to your computer, you lose your software and all the information stored in the installed software program.<\/span><\/p>\n<hr \/>\n<p><strong>Question to ask cloud based providers: \u00a0<\/strong><\/p>\n<p><em><span style=\"font-weight: 400;\">How do you backup my data and can I download a copy of my data at any time to back it up myself?<\/span><\/em><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Question to ask non cloud based providers:<\/strong> \u00a0<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">How often do you update your application, and will I pay fees for these updates? \u00a0<\/span><\/em><\/p>\n<hr \/>\n<h2>Updates and Latest Versions<\/h2>\n<p><span style=\"font-weight: 400;\">Cloud-based software will instantly update the software to the latest version and new features will be instantly available to next time you log into a program.\u00a0 An installed desktop software will require a manual update by the user or you might have to purchase the latest version. \u00a0<\/span><\/p>\n<hr \/>\n<p><strong>Question to ask while shopping: \u00a0<\/strong><\/p>\n<p><em><span style=\"font-weight: 400;\">How often do you update your system? \u00a0If I have a feature that I would like to see in the system, can I tell you about it and how long will it take to make it happen?<\/span><\/em><\/p>\n<hr \/>\n<h2>What about security? Won\u2019t my cloud-based software data get breached by hackers?<\/h2>\n<p><span style=\"font-weight: 400;\">Cloud-based software solutions are actually more secure than installed software or files saved to your computer. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A reliable cloud-based software will use extremely secure servers and networks to protect your data. Cloud-based software offers the following security measures:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Servers are routinely scanned by a 3rd party security vendor for viruses or hacking attempts.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Servers are backed up on and off-site with redundant copies at each location.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Enterprise grade hardware and software provide a high reliability. Technologies such as RAID (hard drive mirroring), replication, load balancing, and other modern methods.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Property managers have access to highly sensitive personal data from their renters, that they are professionally obligated to keep safe and secure. \u00a0So it is extra important for property managers and landlords to use <a href=\"https:\/\/www.rentecdirect.com\/blog\/property-managers-protected-cyber-attack\/\">the most secure system possible<\/a>, to keep their tenant information and business records safe, and keep their operations going smoothly.<\/span><\/p>\n<hr \/>\n<p><strong>Question to ask while shopping: \u00a0<\/strong><\/p>\n<p><em><span style=\"font-weight: 400;\">What security measures do you take to ensure my data is secure from hackers. \u00a0Also, in the event you have server problems, can I download my data at any time?<\/span><\/em><\/p>\n<hr \/>\n<h2>How do I find the right management software for my rental business?<\/h2>\n<p><span style=\"font-weight: 400;\">Property management software reviews will be a great resource when comparing software solutions a review site is a great resource. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The current front-runners in the software market for property management have an almost identical suite of core features. So beyond comparing features, check out reviews to see how the features actually work for people. Just because one solution has a mobile app, if users complain that it is constantly broken or has limited functionality, do you really want to sign up with that software? <\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">The most widely used and trusted property management software review sites include<a href=\"http:\/\/www.softwareadvice.com\/property\/?deployment_id=1&amp;market_products_sort_order=&amp;market_products_sortby=avg_rating&amp;more=true&amp;price_ranges=3,2&amp;stars=&amp;segment_id=&amp;platforms=&amp;int_site_code=&amp;size_id=477\"> Software Advice<\/a>\u00a0and\u00a0<a href=\"http:\/\/www.capterra.com\/real-estate-property-management-software\/\">Capterra<\/a>,\u00a0which collect reviews from verified software users.<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Review sites will also give you an idea about the support the software offers their clients. When you are learning a new software or trying out a new feature, you will probably need to contact support at least once.<\/span><\/p>\n<blockquote><p><strong>When evaluating a system\u2019s support team ask the following questions:<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Do they have a phone number for you call, email support, or live chat support? <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Is the support team located in the US or overseas? <\/span><\/p>\n<p><span style=\"font-weight: 400;\">How long does it take the support team to respond to requests? 24-hrs? 3 days?<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Another trick is to pick up the phone and call the company\u2019s support line. Do they actually answer the phone? Do they return your phone call quickly?<\/span><\/p>\n<hr \/>\n<p><strong>Question to ask while shopping: \u00a0<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Do you offer free phone support? \u00a0If so, who will I be talking to when I call? \u00a0Can I ask to speak to the same person who has helped me before?<\/span><\/p>\n<hr \/>\n<h2>Talk to experts and your network<\/h2>\n<p>Find out what <a href=\"https:\/\/www.rentecdirect.com\/blog\/pick-best-property-management-software-avoid\/\">industry professionals have to say about the best solutions<\/a> on the market. Ask around at your local real estate investor association meeting.<\/p>\n<h2>I am a landlord, can I use property management software?<\/h2>\n<p><span style=\"font-weight: 400;\">Of course. Most property management software companies scale their product to suit the needs of their users. Landlords need almost all the same features as a property manager.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Because landlords tend to have fewer properties under management than a property manager be careful of setup costs and minimums that can quickly make the software unaffordable.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Property management software gives landlords all the tools they need to manage rental properties.<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\"><strong>Question to ask while shopping:<\/strong> \u00a0<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">Do you have a version of your software specific for landlords?<\/span><\/em><\/p>\n<hr \/>\n<h2>I am an investor, is property management software for me?<\/h2>\n<p><span style=\"font-weight: 400;\">The best way for an investor to track the profitability and performance of their real estate portfolio is with property management software. You will have an at a glance view of income, expenses, vacancy rates and occupancy. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors typically have more than one project keeping them busy. PM software is designed to save an investor time and make real estate management even more efficient. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If an investor employs a property manager, you should ask your manager which software they use. The right software will provide detailed reports about your property and give you a portal to log into and view performance and profits. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you are an investor who loves graphs, numbers and reports, online property management software is exactly what you need.<\/span><\/p>\n<p style=\"text-align: center;\"><em>This article was originally published in February 2020 and has since been updated.<\/em><\/p>\n<hr \/>\n<p><em>[Editor&#8217;s Note: Property Management Software, Solutions, Strategies, and Resources is intended as a collaborative, growing body of work, as opposed to a static, single-author piece. If you have comments, suggestions, and of course any corrections, please contact us via email: marketing@rentecdirect.com]<\/em><\/p>\n<hr \/>\n<h2>Related Reading For:<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.rentecdirect.com\/blog\/need-a-tenant-portal\/\">Do I Really Need a Tenant Portal For My Renters?<\/a><\/li>\n<li><a href=\"https:\/\/www.rentecdirect.com\/blog\/free-domains-property-managers\/\">Free Domains and Website Hosting For Property Managers<\/a><\/li>\n<li><a href=\"https:\/\/www.rentecdirect.com\/blog\/grow-property-management-business\/\">How To Grow Your Property Management Business<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Property managers that thrive execute one thing very well: Efficiency. Because there are so many moving parts that go into running a successful rental business, property managers need to have a system that keeps them efficient and effective. \u00a0Property management software gives landlords, property managers and investors a convenient solution to organize their rental business [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":15149,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":true,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"iawp_total_views":8,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[275,725],"tags":[295,570,848,32],"class_list":["post-7578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education","category-property-management-software","tag-featured","tag-landlord-tips","tag-management-tips","tag-property-management-software","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin 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