As a property owner, it can be hard to keep on top of your tenants. From notices to fees, maintenance requests, rent collection, and more; the job is never really done. That’s why owners need software to keep organized and ensure the building’s operations run smoothly.
Given how much we believe in software, we’ve outlined the four software solutions every rental property owner should use.
1. Tenant Portal
Tenants shouldn’t be coming to you with questions about their accounts. Instead, they should have access to it through a 24/7 online tenant portal. Through a portal, things like how much they owe, emergency contact details, and insurance papers can all be uploaded and monitored by the tenant. That way, you won’t be inundated with simple questions they can answer themselves.
A tenant portal is also an easy way for landlords to keep track of all their renters since every tenant name and account will be there; making it easy to search, organize, and store data.
2. Maintenance Requests
Manually inputting maintenance requests can be a pain. Not only will these requests need to be monitored and fulfilled but notices will need to be issued. All this paperwork can be time-consuming and result in mismanaged requests.
That’s why it’s important for landlords to implement a digital request system. From this system, tenants should be able to log on at any time to submit a request for their unit or a common area. On it, they should also be able to describe the issue, attach images, and even select a preferred time for the maintenance work to be completed.
Plus, an online system easily allows landlords to see the requests coming in, and prioritize them based on how urgent the work is. That way, nothing is missed and the building can continue to operate smoothly.
3. Rent Collection
There’s no need to manually collect rent each month. Manual collections are dated, and a huge waste of time and energy that could be spent on more important tasks. That’s why owners need to implement an online payment system.
Online payments make it easy for owners to collect rent each month because every tenant will have access to the system 24/7, and will be able to log in from anywhere to pay their monthly dues. Tenants will also be able to pay using credit, debit, and even PayPal, with an option to have an automatic monthly withdrawal each month. In turn, taking the hassle out of rent collection.
Plus, tenants can monitor their account to see if there is any money owed, and if so, receive reminder notifications directly to it to ensure landlords get their money on time.
4. Screening
There can even be screening software implemented for landlords to keep track of new tenants coming in. On this system, applicants will be able to fill out all their information and send it off to the landlord. Making it easy to process, screen, and verify the details uploaded. The screening process should include things like verifying identification, a credit check, employment proof, and more. All of which are made easier when uploaded into a site where landlords can easily access and track at any time. In turn, making the application process run much smoother.
Ultimately, there’s no arguing that managing a rental is a challenge. But this work can be made easier with things like an online tracking system, digital payments, and a virtual screening process.
To see what could work for you, call 317-546-3482 or email info@midwestpmi.com.
3/26/2022
