As a Montrose property investor, you want the right tools to have your business always moving in your desired direction. If you are thinking and planning to manage your rental properties yourself, and if you have or plan to possess multiple single-family rental homes, you can considerably boost your organization and cash flow by adopting a property management software. The more properties you own, the more you will require a software solution to help you track rent payments, vacancies, insurance, repairs and maintenance expenses, and much more.
According to social presence and customer reviews, one of the best property management software options for individual property investors is Appfolio Property Manager. As specified by present and former 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. Its well-known features include an Owner Portal, the power to generate reports, and a professional website tool. Other benefits that users indicated are excellent quality customer service and a responsive company that welcomes user criticism.
The other highly-rated property management software platform is Rentec Direct. Aimed at professional property managers, this software encompasses the capacity to set up automatic ACH payments, manage tenant screening, and publish vacancies online. You can thus create separate logins for tenants, owners, and the property manager (if they are different). Further perks users recalled were that the software is easy to set up and use, and additionally does a good work tracking rent payments, expenses, and maintenance calls. Rentec Pro software might be a bit expensive 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 may want to be aware of include Buildium Property Management software and MRI’s Property Operations Work speed. First, Buildium’s platform is extensively used owing to 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, 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, conversely, is a relatively basic property management solution. Users specifically like the service contract and warranty management component of the software, which can help you be on top of property maintenance and inspections. Also another excellent component is the service request tool, which allows not only the property manager but tenants and service providers to submit requests and work orders through a mobile app. Their pricing is not readily available, which means you’ll have to call the company for more info on how much you can expect to pay for a subscription.
In addition to the software programs listed here, there are more than 200 other property management software programs readily accessible on the market. But it’s true that most of them are made for medium-to-large property management businesses or corporate property management and are not good options for individual rental property investors.
Certainly, one way to get away from the work and outlay involved in ascertaining the correct property management software is to hire Real Property Management Now. We use our proprietary software to present property owners all of the comfort, convenience, and features they like, while at the same time, taking great care of their properties and tenants as well. Contact us online or call us at 970-314-7123 to learn more.
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