Tenants are a landlord’s lifeblood. They provide the revenue necessary to pay your mortgage, property taxes, and other necessary costs associated with owning rental properties. But tenants aren’t something you can just get up in the morning, pluck out of thin air, and drop back down later in the evening. It takes a lot of work to find them (or for them to find you), vet them, and ultimately sign them onto your rental property leases.
Do you own rental properties and frequently pay bills from different accounts? Do you want to keep track of income and expenses for each unit but don’t want to spend money on a piece of software to do this for you? Your search for the ultimate real estate management software is over. Did you know that you can keep track of your rental properties and tenants using a software application? It’s true! And there are several different applications that have features which allow you to add your property and tenants, check on the status of payments received, create customized rent charts, print off detailed reports on a regular schedule, send invoices, and even track expenses. I’ve been using one application for our rentals for years now with great success. There are also options to build your own invoices as well as print off reports, which is a helpful feature because our entire business runs using paperless technologies. Many landlords and real estate investors had a hard time keeping track of their rental properties because they were using sticky notes and pen and paper. This makes it difficult to come up with detailed financial reports for taxes, or if you want to increase your rental income. If you fall under this category, I highly recommend that you read on.
Let’s face it, managing rental properties can be a chore. If you’ve got a lot of them, it can be full-time job keeping track of everything and making sure you’re getting paid what you’re owed. Not only that but if there’s even one mistake in your calculations, you could end up paying more taxes than you need to or not collecting enough for those months where your tenants are late on the rent. Saving receipts, writing notes on pieces of paper that get lost and forgetting about your tenants’ payments — there are many ways you could lose track of all the data you need for managing a rental property. Fortunately, there are also many solutions out there that can help. One such solution is Tenants Manager, a real estate software solution created specifically for landlords.
Whether you’re a landlord or a tenant, it’s important to know what rent is coming in and when. As a landlord, you have to make sure your tenants are paying on time, collecting rent from them as necessary, and making sure there isn’t any damage in your property. As a tenant, you want to make sure that your rent is paid on time and avoid any late fees or evictions. Luckily, there are software programs available that can help keep track of rental properties for landlords and tenants alike. These programs will allow you to track payments made by tenants (or other sources), generate reports about income vs expenses for each property over time periods like days/weeks/months/years/etc., manage multiple properties at once (and even collaborate with other users!), set up alerts that notify users when specific events occur (like late payments), etc..
What Does Property Management Software Do?
The best property management software provides an integrated solution for rental property investors and property managers to organize rental properties, manage tenants, generate financial reports, and sync and reconcile bank accounts.
Many property management software solutions also offer features such as tenant screening, lease preparation, online rent collection, maintenance request management, and secure document storage.
Quicken Rental Property Manager
Quicken Rental Property Manager is designed to make it easy for you to keep track of your rental property. It can help you manage expenses, income and tenant payments (including rent and deposit). The software also offers a variety of tools that allow you to keep track of tenant applications, history and leases. You can even use the software to track evictions.
Appfolio property management software
Appfolio is a cloud-based property management software that helps you manage your rental properties. This software has a free trial, and an online community where you can learn from other users. Appfolio also offers a free mobile app and online training to help make managing your rental properties easier.
In my experience, I found the user interface of Appfolio quite intuitive—it was easy to navigate around the different tabs and menus in order to add new clients/tenants/properties or enter expenses as they came up. The interface also made it easy for me to search through all of my tenants’ information by name or location (which was especially helpful when I needed contact information).
As far as functionality goes, there are many features available in this program: I loved being able to add multiple photos into one listing; this feature really helps potential renters visualize what it would be like living in the property! You can also track payments made by your tenants using this tool–this way you’re always aware if someone hasn’t paid rent yet or if any late fees will need collecting soon (and how much).
Genius property manager
To keep track of rental properties, you’re going to need property management software. There are many options to choose from, but if you want one that’s easy to use and free of charge, Genius Property Manager is the way to go. This cloud-based property management software can be used by landlords of all sizes and offers tools for managing properties remotely or on-site. It also integrates with other popular landlord services such as Zillow Rental Manager, so it’s good for people who don’t want to spend any time figuring out what they need (or don’t). With its simple interface and excellent customer service, this program makes it easy for landlords who want an efficient system without investing in complicated software.
Buildium property management software
Buildium is a cloud-based property management system that allows you to easily keep track of all your rental properties. With Buildium, you can set up new tenants in just minutes and send them monthly automated rent payment reminders. The software also allows you to run reports on how much each property is earning, which will help with budgeting for repairs and upgrades.
Buildium has an extensive library of helpful training tools and resources available for free including multiple webinars on specific topics like rent collection or managing tenant credit scores. If you have any questions about the software, there are hundreds of other users in the community who are ready to answer them!
TenantCloud property management software
If you are looking for property management software to help you manage your rental properties, TenantCloud is the best option. It’s a cloud-based property management software that is specifically designed for small landlords who are not tech-savvy. The interface is user-friendly and easy to use. There’s no need to spend hours learning how to use it—you can start using it right away!
TenantCloud offers many useful features that make managing your rental properties easier:
- Rental payment processing
- Lease tracking and maintenance reminders (including rent collection notices)
- Expense tracking by tenant or property
- Automated bank account reconciliation
Propertyware property management software
Propertyware is a cloud-based software that allows you to manage your rental property from anywhere. It is a single platform for managing your rental property, which means you can use it for all of the following:
- Managing vacancies and tenant applications
- Rent collection and payment history
- Tenant communications (email, text messages)
- Comprehensive reporting on income and expenses
RealPage property management software
RealPage property management software is a cloud-based service that allows you to manage your rental properties from anywhere. This makes RealPage the ideal solution for small landlords who want to manage their properties from afar, as well as for landlords who want to keep their property management costs down.
Landlord Studio property management software
Landlord Studio is property management software, which helps you manage your rental properties. It’s easy to use and affordable. Landlord Studio also offers many useful features that will help you grow your business and get more bookings with less effort. Landlord Studio also has a great customer service team and they’re always available 24/7 through live chat, phone calls or emails in case you need assistance with anything related to their system. If you are looking for an easy-to-use property management software that won’t break the bank then I highly recommend this one because it’s one of my favorites!
TenantCloud
Do-it-yourself landlords searching for a basic free property management software solution may find that TenantCloud is exactly what they’re looking for. The Free Trial Forever is good for up to 75 units. Additional services include tenant screening from TransUnion, a rental report with detailed rental estimates and market trend data, tenant insurance, and synchronization with QuickBooks online.
With TenantCloud’s free account, owners can manage properties and tenants through their online dashboard. Landlords can also keep track of rental information including leases and expiration dates, accept and send payments, manage maintenance requests to increase tenant satisfaction, and easily communicate at no cost.
Security is also a priority at TenantCloud. Servers are encrypted with 256-bit encryption. Data is backed up daily and only available to authorized users, and stored in highly secure AWS data centers. Landlords and tenants can access TenantCloud on the go with apps available for both Apple and Android devices.
The software can help you manage a rental property.
You can use software to help you manage your rental property. You’ll have a better idea of what’s going on if the property is in good hands, and you won’t be left wondering about things like whether or not there are any problems with it.
For example, if you’re renting out an apartment and one of the tenants complains about something not working properly in their unit, then it’s important for them to tell someone as soon as possible so that they can get it fixed before anything gets worse; however, if there isn’t anyone monitoring their progress or checking up on them then they might start thinking they’re being ignored which could lead them into doing just enough work themselves instead of contacting someone else who actually knows how things work around here!
What to Look For in Free Property Management Software
Even though a property management software solution might be free, it’s still important to shop around. While it’s possible to change software if your first choice doesn’t perform as expected, the longer you use the system the more data you’ll need to transfer to a different application.
Here are some important items to consider when you begin looking for free property management software:
Hidden charges: Some property management software vendors advertise a free trial, then by the time your property information is uploaded and accounts connected, monthly billing will begin. Be sure to fully research any extra fees or hidden charges, and contact customer support if you have any questions at all.
Maximum properties: Most rental property investors find that once they own and manage one property, pretty soon they’re ready to buy another. Many property management software companies limit the number of units you can manage for free before paying a monthly fee.
Read reviews: Smart real estate investors learn from their peers so that they don’t make the same mistakes. Numerous real estate platforms such as Stessa, Roofstock, and BiggerPockets all have blog pages with lots of valuable information.
Conclusion
Whether you’ve got rental properties or not, this is an important article for you to read. It doesn’t matter whether you’re a landlord wanting to manage your property or a tenant looking for the best software for keeping track of your rent and expenses. The bottom line is, it’s very hard to keep track of finances without some sort of software.
If you’re a landlord and you’re looking for software to help manage your rental property, then these are some of the best options. They are easy to use and will save you time as well as money in the long run by helping you keep track of important information such as leases, tenants, payments and more.