As a Mundelein property investor, you’d like to have the right tools to keep your business going forward in a positive direction. If you are intending to manage your rental properties yourself, and if you have or plan to acquire multiple single-family rental homes, you can greatly enhance your organization and cash flow by utilizing a property management software. The more properties you own, the more you would need a software solution to help you track rent payments, vacancies, insurance, repairs and maintenance expenses, and much more.
Considering social presence and customer reviews, one of the best property management software options for individual property investors is Appfolio Property Manager. As pointed out by ongoing and prior 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. Favorite features encompass an Owner Portal, the capability to generate reports, and a professional website tool. Other benefits that users pointed out include excellent quality customer service and a responsive company that welcomes user opinions and feedback.
A second highly-rated property management software platform is Rentec Direct. Created for professional property managers, this software constitutes the capacity to set up automatic ACH payments, manage tenant screening, and publish vacancies online. You could create separate logins for tenants, owners, and the property manager (if they are different). Other advantages users said were that the software is easy to set up and use, also does an excellent job tracking rent payments, expenses, and maintenance calls. Rentec Pro software could be rather exorbitant for individual property owners owing to the fact 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 would appreciate to hear about include Buildium Property Management software and MRI’s Property Operations Work speed. First, Buildium’s platform is extensively used on the grounds of its all-inclusive capabilities. Choosing to use 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 other side, is a relatively basic property management solution. Users primarily enjoy using the service contract and warranty management component of the software, which can help you keep up with property maintenance and inspections. One feature is the service request tool, which empowers not only the property manager but tenants and service providers to submit requests and work orders through a mobile app. Their pricing is not readily available, consequently, you’ll have to communicate with the company for more info on how much you can expect to pay for a subscription.
Over and above the software programs listed here, there are more than 200 other property management software programs presently available on the market. Though, most of them are directed to medium-to-large property management businesses or corporate property management and are not good options for individual rental property investors.
One way to refrain from the trouble and cost involved in selecting the appropriate property management software is to hire Real Property Management Northwest Chicago Suburbs. We use our proprietary software to give property owners all of the ease and function they require, while equally taking great care of their properties and tenants at the same time. Contact us online or call us at 847-892-4040 to learn more.
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