As a self-managing landlord, managing your properties can be a complex and demanding task that requires a significant amount of time and effort. From rent collection to maintenance requests, tenant screening, and more, it is imperative to have a system in place that can help simplify these processes and make your life easier. This is where property management software comes into play.
With so many options available in the market, it can be overwhelming to determine which software is the best fit for your needs. To make the right choice, there are several factors that you need to keep in mind.
User-Friendliness: One of the most important aspects of property management software is its user-friendliness. You want a software that is easy to use and navigate, especially if you are not tech-savvy. Choose a software that has a user-friendly interface, intuitive design, and clear instructions to make it simple to manage your properties and communicate with tenants.
Rent Collection: Collecting rent is a critical component of property management, and you want to make sure that it's done efficiently and securely. Look for software that offers automated rent collection methods, such as online payment options and recurring payments. This will save you time and ensure that you receive your rent on time, every time.
Maintenance Tracking: Keeping track of maintenance requests and the status of each repair is crucial. Choose software that enables you to manage maintenance tasks, set reminders for follow-up, and keep track of expenses. This will help you stay organised and ensure that all maintenance issues are addressed promptly. You can use software such as Help me Fix to make it easier to manage your portfolio and cut costs associated with maintenance.
Tenant Screening: Screening potential tenants is a vital aspect of letting property. Choose software that provides tools to help you assess applicants, including background checks, credit reports, and eviction history. This will help you make informed decisions about who to rent to and avoid potential issues down the road.
Reporting: Access to accurate and up-to-date reports on your properties is essential. Choose software that provides clear and comprehensive reports, such as rental income reports, property performance reports, and tax reports. These reports will give you valuable insights into your properties and help you make informed decisions.
Customer Support: You may encounter issues or have questions, consider software that provides reliable and responsive customer support, whether it’s through email, phone, or chat. This will ensure that you have the support you need when you need it.
There may also be a way to “plug in” different tools to a single piece of management software which doesn’t tick all of the boxes. Look for integrations, or talk to a representative about what options they may have available.
Choosing the right property management software can help you save time, increase efficiency, and reduce stress. Consider your specific needs and choose a software that complements the way you want to manage your properties. If you evaluate your options thoroughly, you can be confident that you're making the right choice for your properties and your business.