If you're a landlord with multiple rental properties, then managing all of them can be a daunting task. From screening tenants to collecting rent, handling maintenance requests to scheduling inspections, there's a lot to keep track of.
Fortunately, with the right software, you can streamline many of these tasks and make your life as a landlord much easier. We'll explore the benefits of using property management software and what to look for when choosing the right one for your needs. Of course, we can also handle all of that for you!
Track Your Properties with Detailed Information
One of the biggest benefits of property management software is that it can help you keep track of all your properties in one place. You can use the software to create profiles for each property, including details such as the address, number of bedrooms and bathrooms, and any special features or amenities. This can be especially helpful if you have a large portfolio of rental properties, as it can be easy to forget important details or confuse one property with another.
Tenant Screening
Another key feature of property management software is tenant screening. Many software programs allow you to run background checks, credit checks, and other types of screenings on prospective tenants. (Also see our blog on tenant screening by clicking here.)
This can help you weed out tenants who may not be a good fit for your properties, saving you time and money in the long run. Additionally, some software programs allow you to create custom application forms that can be filled out online, making it easy for potential tenants to apply for your properties.
Accounting
Once you have tenants in your properties, the software can also help you keep track of all aspects of the financial end of your business with built in accounting components and reports for rent payments and other expenses. Many software programs allow tenants to pay their rent online, which can be more convenient for both you and your tenants.
Maintenance
You can also use the software to track expenses such as repairs, maintenance, and utilities, making it easier to stay on top of your finances.
It can also be helpful when it comes to handling maintenance requests. Many programs allow tenants to submit requests online, which can be automatically routed to the appropriate maintenance staff or contractors. It can track your vendors and subcontractors to help ensure that maintenance issues are addressed quickly and efficiently, reducing the likelihood of more serious.
Ease of Use
When it comes to choosing the right property management software, there are a few things to keep in mind. First, you'll want to look for software that is easy to use and navigate. After all, you don't want to spend hours trying to figure out how to input data or generate reports. Additionally, you'll want to make sure the software has all the features you need but isn't so bloated that it includes things that are scaled for something much bigger than what you need.
Price
Price is another important factor to consider. Some programs charge a flat fee, while others charge based on the number of properties you manage or the number of tenants you have. You'll want to consider your budget and how much you're willing to spend on software before making a decision. There are options ranging from under $50 to several hundred per month (and more for large commercial properties.)
Ultimately, property management software can be a valuable tool for landlords who want to streamline their operations and make them easier. By keeping track of all your properties in one place, handling tenant screening and rent collection, and tracking maintenance requests and expenses, you can free up time and energy to focus on other aspects of your life and business, and save time and energy. Just be sure to do your research and choose the right software for your needs and budget. Click here for a great breakdown of some popular property management software options.
Use Denman Realty & Property Management Services Instead
And if you really don't want to be bothered to learn new software or do all of the things to manage your properties, we offer a variety of property management services for all needs. Just get a quote here - we're happy to help you!