As a Charleston property investor, your acquisition of the right tools means keeping the business running smoothly. Property management software might be something you’d want to look into, especially if you’re planning to manage your rental properties yourself. Multiple single-family rental homes can be especially challenging, but dedicated software will help ease the organization and 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. Well-known features include an Owner Portal, the preference to generate reports if you so choose, and a professional website tool. Other benefits that users noted included excellent quality customer service and a responsive company that welcomes user feedback.
A second highly-rated property management software platform is Rentec Direct. Marketed toward professional property managers, this software includes the option 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 benefits people pointed out were that the software is easy to set up and use, as well as does an excellent job tracking rent payments, expenses, and maintenance calls. Rentec Pro software could be a bit high-priced for 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 preferred due 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, 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, on the other hand, is a relatively basic property management solution. Customers especially enjoy 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.
There are over 200 other property management software programs currently available on the market aside from the ones already talked about on our list. 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.
An easy option to spare yourself the daunting task of choosing the right property management software is to hire Real Property Management Distinguished Care. Our proprietary software allows us to give our property owners the chance to step back and enjoy the convenience of letting us do the work for them. Contact us online or call us at 828-342-9683 to learn more.
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