As a North Haven property investor, getting a hold of the right tools is imperative if you want to keep your business afloat. If you plan to manage multiple single-family rental homes, make sure to prepare yourself to take on the necessary tasks to keep your rentals afloat. It can be very tricky, especially if you want to manage the rentals yourself. But, property management software can be a huge help in organizing all of the details, as well as keeping track of the cash flow. The more properties you own, the more you will need a software solution to help you track rent payments, vacancies, insurance, repairs and maintenance expenses, and much more.
Based on social presence and customer reviews, one of the best property management software options for individual property investors is Appfolio Property Manager. As evidenced by the response of the software’s users, 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. Common features include an Owner Portal, the ability to generate reports, and a professional website tool. Other benefits that users noted include excellent quality customer service and a responsive company that welcomes user feedback.
A second highly-rated property management software platform is Rentec Direct. Designed with the work of professional property managers in mind, this software features the choice to set up automatic ACH payments, manage tenant screening, and publish vacancies online. You can create separate logins for tenants, owners, and the property manager (if they are different). Other perks clients reported were that the software is easy to set up and use, as well as does a splendid job tracking rent payments, expenses, and maintenance calls. Rentec Pro software can be costly for individual property owners since 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 can go for are Buildium Property Management software and MRI’s Property Operations Work speed. First, Buildium’s platform is the popular choice 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, however, is a relatively basic property management solution. Subscribers especially favor the service contract and warranty management component of the software, which can help you stay on top of property maintenance and inspections. A significantly useful instrument is the service request tool, which allows not only the property manager but also tenants and service providers to submit requests and work orders through a mobile app. Though their pricing is not readily available, you can still opt to directly contact the company, so that you can ask how much you can expect to pay for a subscription.
Aside from the software programs indicated here, there are 200 other property management software programs available for you to check out. But, a lot of them are oriented toward medium-to-large property management businesses or corporate property management and are not good options for individual rental property investors.
If you want to spare yourself some of the stress that comes with choosing the right property management software, then hire Real Property Management Southern Connecticut to do it for you! Our proprietary software allows us to offer our property owners convenience, and assurance that their properties are well taken care of. Contact us online or call us at 203-821-7303 to learn more.
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