As an Indianapolis property investor, you require the right tools to keep your business moving forward on a good path. If you are preparing to manage your rental properties yourself, and if you acquire or are preparing to have multiple single-family rental homes, you can add to your organization and cash flow by opting for a property management software. The more properties you own, the more you might require 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 reported by recent and past 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. Popular features include an Owner Portal, the capacity to generate reports, and a professional website tool. Other benefits that users liked include excellent quality customer service and a responsive company that welcomes user reaction.
A second highly-rated property management software platform is Rentec Direct. Directed towards professional property managers, this software provides the ability to set up automatic ACH payments, manage tenant screening, and publish vacancies online. You will create separate logins for tenants, owners, and the property manager (if they are different). The other advantages users pointed out were that the software is easy to set up and use, it does a great job tracking rent payments, expenses, and maintenance calls. Rentec Pro software may be a little bit more costly for individual property owners because 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 may appreciate knowing about include Buildium Property Management software and MRI’s Property Operations Work speed. First, Buildium’s platform is largely used because of its all-inclusive capabilities. By 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, alternatively, is a relatively basic property management solution. Users particularly favor the service contract and warranty management component of the software, which can aid you in keeping abreast of property maintenance and inspections. Another nice feature is the service request tool, which lets not only the property manager but tenants and service providers submit requests and work orders through a mobile app. Their pricing is not readily available, and so you’ll want to get in touch with the company for more info on how much you can expect to pay for a subscription.
Other than the software programs listed here, there are more than 200 other property management software programs recently accessible on the market. Though, most of them are created for medium-to-large property management businesses or corporate property management and are not good options for individual rental property investors.
As it happens, one way to eliminate the hard work and cost involved in determining the suitable property management software is to hire Real Property Management Indianapolis Edge. We put to use our proprietary software to give property owners all of the functions and convenience they ask for, while additionally taking great care of their properties and tenants simultaneously. Contact us online or call us at 317-420-8500 to learn more.
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