Property management apps are getting popular due to the convenience they provide. Simply put, they make the lives of the landlords and tenants more comfortable. The software gives a platform to promote better communication and relationship between the owner and the occupant.
With the popularity of the software solution, it is understandable that developers will jump on the bandwagon. Try searching for “rental property management software” on Google, and you will get millions and millions of results.
The 2015 American Housing Survey revealed that there are almost 49 million residential units for rent in the country. Of the total, nearly 44 million were occupied. A significant number of these investors can be classified as mom-and-pop landlords who own single or duplex homes. They likely depend on the rent for their monthly subsistence.
Mom-and-pop landlords have survived for many years using their old ways. They are hesitant in trying new technologies that would help them manage their properties. To a certain extent, they can get away with the old method since they live in the property anyway. It means they can build a relationship with their tenants, or address repairs and maintenance issues right away.
However, just because the old method worked does not mean that it could not be improved.
What is a Property Management Software
Rental property management software allows you to manage your business using a single platform. You need to create an account as the property manager. But you also invite your tenants to create their own accounts.
Once those are finished, you can start using the app right away. Here are some of the features of the rental property management software:
- Online rent payments — It means you do not need to go door-to-door to collect the monthly dues from your tenants. They only have to transfer money to your account using the software. They can even enroll their debit or credit cards into the technology, set the rental amount, then forget about it. The software will automatically deduct the amount from their account at a specific date.
- Maintenance and repair complaints — Your tenants will avoid the awkward phone calls asking you to fix a leaking faucet or a damaged doorknob. They only input the problem on the software, upload the photo so that you are aware of the extent of the damage. You can then purchase the necessary replacement materials based on the picture sent to your account. It is quick and painless.
- Tenant screening — This is another crucial feature that would significantly make your life easier. The background check feature allows you to determine if the candidate has a previous criminal record, eviction record, or bad history credit. The screening feature also enables you to see if the candidate has a steady job to afford your monthly rent.
- List vacant rooms — Have you seen all those beautiful photos on property listing pages? You might think that they hired professional photographers. With the use of the rental property management software, you can now have a dedicated page with your own listing in it. Your home will also be featured on Zillow or apartments.com to reach out to more prospects.
Those are some of the features that even small landlords will enjoy. But do not think for a second that you will only enjoy the solutions outlined above. There are still multiple things that are not touched here for lack of space. But hopefully, the article showed enough to convince you to consider buying a property management software for your business.