To successfully run a business these days, you have to leverage the right technology. Landlords and rental property managers can’t afford to ignore property management apps, as they’ve become a crucial part of their toolbelt. Whether it’s for a specific task like rent collection, screening tenants, controlling keys to units, or time management, rental property management applications can save you a significant amount of time and money. They also offer efficiency and convenience in property management.
Tools that property managers should consider adding to their toolbox include financial dashboards, tenant management, listing, and screening apps. This article outlines top rental management software solutions all landlords and property managers should consider using.
One of the biggest mistakes landlords and property managers can make is to take shortcuts when screening tenants, but Rentspree can help you avoid this. It is an excellent online rental application and tenant screening platform. Rentspree allows you to receive rental applications, which makes the vetting process easy and convenient. It provides a credit report and score for every potential tenant in an easily digestible format to make it easy for you. Rentspree also performs criminal background checks and provides information on the eviction history of applicants.
Stessa is a great platform that property managers can utilize to manage and track the performance and finances of their property. It tracks the expenses and income and provides ready-to-use tax documents and crucial investing metrics.
Buildium is a property management app that allows property managers to manage all aspects of their work, including maintenance cycle, rent, and vacancy. Its key features include lease and tenant tracking, full ledger accounting, late fee reminders, automated rent, and on-demand reports.
4. Landlord Studio
LandlordStudio is an excellent rental property management app built for landlords. It allows them to monitor rent payments, invoice tenants, automate reminders and generate accounting reports. Through the platform’s dashboard, you can get crucial investing metrics, including cash flow and expenses. You can also store important documents with their cloud storage service.
5. Appfolio Property Manager
The Appfolio Property Manager platform allows landlords and property managers to automate and manage tasks related to their commercial property, residential property, students’ housing, and apartments. Its key features include:
- Vacancy and rent tracking
- Cash flow management
- Property listing management
- Insurance tracking
- Automatic bill posting
- Tenant screening
- Report customization
Cozy is a property management app that is designed to assist property managers, and landlords receive rental payments, screen tenants, and list properties on a unified dashboard. It is a must-have app, especially for landlords or property managers managing multiple properties. It allows you to track expenses for every building and attach each of them into a tax category.
The platform allows landlords to generate and custom listings with lease terms, pet policies, amenities, and property images on real estate websites like Realtor.com. You can also use its rent estimate feature to set rent rates in line with area benchmarks, nearby properties, and price benchmarks.
While you don’t need every platform on this list, you can test them to see what works for your business. Whether you are a landlord with one rental property or a property manager who runs a company that manages multiple properties, there is a property management app on this list that can accommodate your needs.