As a Wilmington property investor, you must work with the right tools to get your business operating in a surefire way and direction you want to go. If you are thinking of managing your rental properties yourself, and if you have or plan to keep multiple single-family rental homes, you can tremendously increase your organization and cash flow with the use of property management software. The more properties you own, the more you will necessitate 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 reported by present and earlier 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. Popular features include an Owner Portal, the efficiency to generate reports, and a professional website tool. Other benefits that users reported comprised excellent quality customer service and a responsive company that welcomes user feedback and opinion.
A second highly-rated property management software platform is Rentec Direct. Designed for professional property managers, this software integrates the potential 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). Several other advantages users mentioned were that the software is easy to set up and use, also does a fantastic job tracking rent payments, expenses, and maintenance calls. Rentec Pro software can, however, be quite a bit more expensive for individual property owners taking into account 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 appreciate to be familiar with include Buildium Property Management software and MRI’s Property Operations Work speed. First, Buildium’s platform is widely used because of its all-inclusive capabilities. Utilizing 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 like best the service contract and warranty management component of the software, which can assist you to keep abreast of property maintenance and inspections. The other terrific feature is the service request tool, which enables not only the property manager but tenants and service providers to easily submit requests and work orders through a mobile app. Their pricing is not readily available, therefore you’ll need to contact the company for more info on how much you can expect to pay for a subscription.
Aside from the software programs listed here, there are more than 200 other property management software programs now conveniently available on the market. But, most of them are focused on medium-to-large property management businesses or corporate property management and are not good options for individual rental property investors.
Certainly, one way to keep away from the headache and cost involved in choosing excellent property management software is to hire Real Property Management Champion. We engage our proprietary software to provide property owners all of the benefits and functions they desire, while at the same time taking great care of their properties and tenants as well. Contact us online or call us at 910-782-4488 to learn more.
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