As a Smith Mountain Lake property investor, you need exactly the right tools to sustain keep business working and moving in the right direction. If you are planning to manage your rental properties yourself, and if you possess or plan to maintain multiple single-family rental homes, you can hugely grow your organization and cash flow by using a property management software. The more properties you own, the more you would need a software solution to help you track rent payments, vacancies, insurance, repairs and maintenance expenses, and much more.
From social presence and customer reviews, one of the best property management software options for individual property investors is Appfolio Property Manager. As claimed by current and previous users of the software, Appfolio is affordable, easy to use, and cloud-based, which makes it ideal for property owners who like to keep a constant eye on their properties. Favorite features constitute an Owner Portal, the power to generate reports, and a professional website tool. Other benefits that users recalled included excellent quality customer service and a responsive company that welcomes user feedback.
A second highly-rated property management software platform is Rentec Direct. Prepared for professional property managers, this software integrates the power to set up automatic ACH payments, manage tenant screening, and publish vacancies online. You would be able to create separate logins for tenants, owners, and the property manager (if they are different). Other clear benefits users indicated were that the software is easy to set up and use, and likewise does an amazing job tracking rent payments, expenses, and maintenance calls. Rentec Pro software may be a bit highly-priced for individual property owners considering that they price their software based on the number of units (i.e., the more units you buy, the less it costs per unit).
Two other property management software programs that individual property investors may like to hear about include Buildium Property Management software and MRI’s Property Operations Work speed. First, Buildium’s platform is vastly used because of its all-inclusive capabilities. Using the platform, property owners can handle their business accounting, monitor expenses, make and accept online payments, and even file 1099 forms each tax season. Buildium also offers a tenant portal, an application system, and a website creation tool. The downside to Buildium includes the steep learning curve and the high-end cost of their software.
MRI’s Property Operations Work speed, on the contrary, is a relatively basic property management solution. Users enjoy the service contract and warranty management component of the software, which can help you to keep track of property maintenance and inspections. An additional superb feature is the service request tool, which makes it possible not only for the property manager but tenants and service providers to easily submit requests and work orders through a mobile app. Their pricing is not readily available, so what that means is that you’ll have to talk to the company for more info on how much you can expect to pay for a subscription.
Apart from the software programs listed here, there are more than 200 other property management software programs now easily accessible on the market. But regrettably, most of them are aimed at medium-to-large property management businesses or corporate property management and are not good options for individual rental property investors.
Naturally, one way to stay away from the struggle and expense involved in selecting a suitable property management software is to hire Real Property Management Cairn. We employ our proprietary software to give to property owners all of the convenience and functionality they want, while indeed taking great care of their properties and tenants as well. Contact us online or call us at 434-215-3028 to learn more.
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