As a Vestavia Hills property investor, your acquisition of the right tools means keeping the business running smoothly. Single-family rental homes can be such a challenge to manage, especially if you manage these properties yourself. However, you can always opt to avail of property management software to help keep you organized with your dealings 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. Several users’ feedback shows that 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. Notable features include an Owner Portal, the capability to generate reports, 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. Developed for professional property managers, this software includes the feature 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 can be pricey 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 opt 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, in contrast, is a relatively basic property management solution. Clients especially fancy the service contract and warranty management component of the software, which can help you stay on top of property maintenance and inspections. Additionally, a useful component 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. Since their pricing is not readily available, you might need to contact the company directly so that you can found out how much you need to pay for a subscription.
In addition to the software programs aforementioned, the market contains 200 other property management software programs. Take note, though, that many of these programs were designed for medium-to-large property management businesses or corporate property management and are not good options for individual rental property investors.
If choosing the right property management software is a bit too intimidating for you, the best choice is to hire Real Property Management Victory. Let us do the work for you. Because of our proprietary software, we have the opportunity to give our property owners the platform to be able to manage their business without having to sacrifice convenience. Contact us online or call us at 205-793-0700 to learn more.
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