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Property Management Software: What Should You Be Using?

Vestavia Hills Property Manager Reviewing Their Software OptionsAs a Buda 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 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 claimed by many, 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 included excellent quality customer service and a responsive company that welcomes user feedback.

A second highly-rated property management software platform is Rentec Direct. Aimed at marketing toward professional property managers, this software includes the possibility 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 advantages consumers stated were that the software is easy to set up and use, as well as does a fine job tracking rent payments, expenses, and maintenance calls. Rentec Pro software might be a bit too high-cost 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 could choose from are Buildium Property Management software and MRI’s Property Operations Work speed. First, Buildium’s platform is a wise alternative because of 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, moreover, is a relatively basic property management solution. Customers especially enjoy the service contract and warranty management component of the software, which can help you stay on top of property maintenance and inspections. More so, one good part about the software 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. If you want to know how much you will need to pay for a subscription, you’ll have to call the company directly since their pricing is not readily available.

There are over 200 other property management software programs currently available on the market aside from the ones already talked about on our list.  Be that as it may, a good number of these programs are directed toward medium-to-large property management businesses or corporate property management and are not good options for individual rental property investors.

If you’re still unsure of which property management software to go with, your best choice is to hire Real Property Management Longhorn to walk with you throughout the process. Using our very own proprietary software, we can offer our property owners the convenience of knowing that we are with them in maintaining and growing their properties and tenants.  Contact us online or call us at 512-580-3099 to learn more.

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