5 Benefits Of Using Landlord Software For Investment Properties

 

 

The basic obligations of a landlord include keeping the property safe, clean, and habitable. They must also be able to implement comprehensive screening tests on prospective tenants that involve criminal background, tenant credit, and eviction checks.

With the help of landlord software, landlords can effectively manage rental properties. Additionally, modern software solutions are easily accessible, which enables managers to use such tools on the go. In turn, investment properties become more secure from intruders, which allows their tenants to live in peace.

In this article, you'll learn how investment properties can take advantage of landlord software. Read on!

 

1 Tracking Maintenance Requests From Tenants

As a landlord, you want your tenants to immediately notify you whenever a problem arises. Once they do so, you can help them prevent the issue from turning into a more costly and problematic one. Thus, one of the most important factors of property maintenance is ensuring that tenants can easily report maintenance issues.

If you’re busy managing a handful of investment properties, you may accidentally let things slip, especially non-urgent maintenance issues. With the help of a landlord software, like Rentec Direct, you can streamline maintenance requests and manage work orders. Also, having a digital system that monitors all your maintenance requests allows you to receive notifications as they come up.

With the ability to receive status updates from various devices, you enable your tenants to communicate their issues all day long. More so, this software ensures all tenants feel empowered to submit a request any time, regardless of the building’s operation hours. With a mobile-compatible maintenance monitoring system, you can gain efficient response time, which allows you to prioritize issues from multiple tenants.

 

2. Efficient Rent Collection

If you’re not using any type of modern rent collection features from a landlord software, you’re missing out on cost and time savings. In addition, traditional payment systems may turn off customers who are seeking more modern and convenient payment methods. As a result, you may attract fewer tenants.

A landlord software enables you to have a fast, secure, and easy rent collection process. With this digital tool, you can quickly schedule recurring monthly payments and automate payment reminders. Also, you can automatically monitor real-time payment activities, which eliminates the number of late payments.

 

3. Effective Vacant Property Marketing

As a landlord, you may feel discouraged whenever you face difficulties in finding new tenants for your investment properties. If you can’t get your property rented, you may have to evaluate your existing marketing strategy. This activity enables you to assess the amount you require as a security deposit and the length of the lease agreement that must be signed.

With today’s leading property management software solutions, landlords can track vacant properties and quickly advertise their availability. With several clicks, you can promote your properties on various social media platforms simultaneously. More so, this software allows you to easily customize outreach efforts, which ensures effective vacant property marketing.

 

 

4. Easier Tenant Screening Process

For property owners and landlords, credit and background checks are necessary to ensure the safety of the vicinity. Landlord software can incorporate all background check information into a user-friendly report that comes with every application. As a result, landlords can seek out the best tenant to occupy each available property, which ensures the protection of their existing tenants.

The automated tenant screening process starts with a prospective client completing an online rental application form. Then, the landlord would select the type of screening report they wish to run on the individual and receive an instant report. With this instantaneous feedback, landlords can quickly make smart decisions and reduce the number of property vacancies.

 

5. Digital File Management

Regardless of the industry, business owners must efficiently organize their documents to revoke access from third parties. In the industry of investment properties, landlords can take advantage of lease and file management features available in a property management software. This software application allows you to edit, finalize, and store valuable documents so you can protect confidential tenant information.

With the help of landlord software, you can accurately monitor all your data and documents within its application. You may import and store files related to your lease agreements, marketing materials, financial reports, and other sensitive data. Furthermore, this app can offer templates so you can easily recognize each document, which reduces your time sifting through a traditional folder.

 

Key Takeaway

As a landlord, you must ensure the safety of your tenants by protecting them from suspicious prospects. That said, you should use landlord software so you can track maintenance requests from tenants and enable efficient rent collection. With this tool, you can have effective vacant property marketing and document management system.