5 Tools That Make Residential Property Management Easier
Residental property management has its obvious perks, but it’s not always easy. Between repairs, tenant turnover, and keeping up with taxes for your property, there can be some pain points.
Your time and energy are precious commodities. It should be your goal to simplify responsibilities whenever possible for yourself and your family. This way, you can focus on things like choosing the right real estate agent.
Imagine having all the benefits of property management while eliminating many of the pain points. Fortunately, technology makes this possible.
Here are 5 amazing tools that make residential property management a breeze:
#1. Rentec Direct
The first tool on the list, Rentec Direct is for those managing between 25-5,000 units. Key features include general ledger accounting, financial reporting, and an online portal for tenants and owners.
And with additional features like Quickbooks synchronization, they place a premium on keeping your information organized.
Unlike other solutions, Rentec direct is not free. Their additional customizations and strong line of customer support may make it worth the investment, but it’s something to know.
TenantCloud offers property management, tenant management, marketing functionality, and accounting all in one web-based software.
It’s an all in one system built to free you up from organizing information in multiple places. The software is free up to 75 units.
Users say that 2 huge benefits of TenantCloud are the web-based functionality and regular updates. Your information can be accessed anywhere, and the creators are constantly adding to the software to meet the needs of people working in residential property management.
With Cozy, you can create comprehensive online listings for your properties. This solution is a one-stop shop for turning potential renters into regular tenants.
The software is also web-based and allows users to create a profile. Owners can also use it to do background checks and generate credit reports directly through the interface.
Some user feedback says that the soft heavily favors the applicant over the owner. This may be true, but you still can’t beat free, so it may be worth a try.
For small and mid-sized residential property management, you aren’t going to find an easier solution than Simplifyem.
Another web-based solution, Simplifyem includes many of the functionalities other tools have like accounting and tenant management. It stands apart by offering additional features like vendor management and bank reconciliation as well.
One user of the software boasts, “SimplifyEm helped me manage my tenants a lot. It has made my properties and transactions much more organized and comprehensive.”
Not as catchy as the others, don’t sleep on 123landlord.com. This software makes it easy to manage tenants, collect payments, and keep everything accessible.
Many of the people doing small to mid-size residential property management say that it’s a great tool that will cover your basic needs. Beyond 50 units, however, you may seek a more extensive solution.
Plans for 123landlord.com start at $7/month.
As someone in residential property management, your time is valuable. The perks are obviously great, but fortunately, these tools can help.
And then consider spending that extra time doing other important things, like finding the right real estate agent. We’re here to help.
Whether you are looking to collect payments, track (or attract) tenants, or market your property, these software solutions might be what you’re looking for.