It takes a lot of time for landlords and property managers to take notes, resolve maintenance issues, conduct inspections, and maintain applications, and even longer to do all these things on paper. Currently, with the opportunities that technology provides to us, it is much easier and more efficient to succeed in the real estate business.
Now is the time for landlords and property managers to start using rental management software to manage their properties and day-to-day tasks.
What Is Rental Management Software?
With the help of online property management software, DIY landlords as well as property owners can automate and schedule all of their daily and unexpected tasks electronically and efficiently. Rental management software allows landlords to keep everything organized and track their properties in real-time, saving time and money.
We’ll review ten common features of online property management systems and highlight the advantages of using each of them.
Related: Free Rental Property Management Software:Top Benefits to Consider in 2022
1. Tenant Screening
Manual tenant screening can be a time-consuming process. It’s much more convenient to conduct background and credit checks using property management software.
Tenant screening reports can include: eviction notices, credit reports, housing histories, and criminal records. There can be additional costs but the application fee can cover the expenses associated with tenant screening.
A tenant screening process is a key to finding good tenants and filling a vacancy.
Related: The Benefits of Using Rental Property Management Software: Tenant Screening and More
2. Online Payments
Landlords can improve the rental process by adopting the correct tools and collecting rent online. This helps prevent misunderstandings with tenants while also saving time. With TenantCloud, all invoices, late fees, and receipts are generated automatically, eliminating the need for landlords to invoice tenants manually. Collect rent online and forget about in-person meetings, paper checks, and late payments.
3. Maintenance Request Management
Property management software makes it possible to create maintenance requests, deal with service providers and suppliers, and communicate with renters and property owners about scheduled maintenance activities.
4. Online Tools to Interact with Tenants
Online technologies make it possible to manage rental properties from the convenience of one's own home. Not only does rental management software assist landlords in lowering operating expenses, but it also gives them real-time control over their property and renters, which can help improve their time management skills.
5. Accounting Dashboard
Consider the dashboard to be a display of things you should pay particular attention to.
Dashboard reporting allows you to collect data and other key indicators used in the real estate sector in an easy-to-understand format, with the help of graphs, tables, charts, and diagrams.
The dashboard's information is straightforward, helpful, and actionable.
6. Rental Advertising Options
If landlords do not advertise their rentals online, they are missing out on a massive market of prospective tenants. Landlords may advertise their vacant property on many platforms with only one click. TenantCloud allows users to post available rental property on multiple online platforms such as Rentler, Apartments. com, Realtor. com, and Zillow Group. It’s much easier to find tenants for a vacant property if it’s advertised correctly.
7. Online Lease Signing & Lease Renewal
Due to rental management software, people have the option to complete the lease agreement online at their leisure, and they may even sign it from another state. Although online signing is still a novelty, it is becoming more and more common for tenants to provide a digital signature. It’s incredibly convenient and safe for both landlords and tenants.
8. Enhances Visibility
TenantCloud gives direct and rapid access to properties with exact, up-to-date, and real-time data, all through one powerful software. Landlords will gain access to the data they need to make better decisions about their operations, advertising, and finances across their whole portfolio.
9. Customer Support 24/7
Customer support that is available 24 hours a day, seven days a week - is a genuinely priceless resource that may make all the difference in the business. Whenever tenants or landlords are having trouble - customer support is always available to help.
10. Calendar Scheduling
Keeping a schedule on an online calendar simplifies daily tasks. Calendar can assist in scheduling tenant meetings, creating rent collection reminders, and much more.
Best Property Management Software
The rental business is always looking for methods to streamline and standardize business operations. With property management software, landlords can monitor, screen tenants, and improve back-office processes and money. Property management software helps tenants, owners, and managers communicate more effectively.
Related: How to Start Investing in Real Estate: Main Things You Should Know
Property management software enables businesses to provide the best services and expand on a larger scale. If you are a property owner or a landlord that understands all the features and benefits of using property management software and is looking for the best one, try TenantCloud! TenantCloud is on the list of the top 3 best online property management systems according to Capterra.
Take advantage of using property management software by starting TenantCloud’s free trial.
