As a Kendall property investor, you have to obtain the right tools to propel your business forward. Owning multiple single-family rental properties can be quite stressful, especially if you plan to manage these rentals yourself. Property management software, however, can significantly help you organize things and keep track of your 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 so 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. Many users of the software share the same opinion 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. 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 include excellent quality customer service and a responsive company that welcomes user feedback.
A second highly-rated property management software platform is Rentec Direct. Designed with the work of professional property managers in mind, this software features the choice 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 perks clients reported were that the software is easy to set up and use, as well as does a splendid job tracking rent payments, expenses, and maintenance calls. Rentec Pro software might be a bit costly 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 pick from 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, however, is a relatively basic property management solution. Subscribers especially favor the service contract and warranty management component of the software, which can help you stay on top of property maintenance and inspections. One more useful detail 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. 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. 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.
An easy option to spare yourself the daunting task of choosing the right property management software is to hire Real Property Management Dade. Our proprietary software allows us to offer our property owners convenience, and assurance that their properties are well taken care of. Contact us online or call us at 305-501-1511 to learn more.
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