As a Greensboro property investor, you need to have the right tools to keep your business on the correct course. If you are arranging to manage your rental properties yourself, and if you’ve obtained or are preparing to get multiple single-family rental homes, you can enormously improve your organization and cash flow by making use of a property management software. The more properties you own, the more you may 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 stated by new 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. Well-known features include an Owner Portal, the capability to generate reports, and a professional website tool. Other benefits that users stated involved excellent quality customer service and a responsive company that welcomes user comments and feedback.
The next highly-rated property management software platform is Rentec Direct. Focused towards professional property managers, this software comprises the adeptness to set up automatic ACH payments, manage tenant screening, and publish vacancies online. You could create separate logins for tenants, owners, and the property manager (if they are different). Some other merits users stressed were that the software is easy to set up and use, similarly, it does a nice work tracking rent payments, expenses, and maintenance calls. Rentec Pro software could be a little more pricy for individual property owners by reason 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 wish to hear about include Buildium Property Management software and MRI’s Property Operations Work speed. First, Buildium’s platform is broadly utilized because of its all-inclusive capabilities. Employing 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, on the contrary, is a relatively basic property management solution. Users particularly like the service contract and warranty management component of the software, which can help you get on top of property maintenance and inspections. One other fine feature is the service request tool, which enables 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, so you’ll have to reach out to the company for more info on how much you can expect to pay for a subscription.
Besides the software programs listed here, there are more than 200 other property management software programs now available on the market. But admittedly, most of them are customized to medium-to-large property management businesses or corporate property management and are not good options for individual rental property investors.
While doing research on every potential income property is a lot of work, Real Property Management of the Triad can help lighten your load. We offer free rental property analyses for investors, which can help you more easily identify whether the income property you want to buy is a profitable option. Contact us online or call us at 336-355-6677 or 336-777-7444 to learn more!
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