How to Scale Your Rental Business With Online Property Management Software

Property management can be daunting, overwhelming, and time-consuming. You have to receive and approve rental applications, screen tenants, sign leases, and find tenants among other routine tasks. Performing all these tasks manually can be exhausting and consume most of your time. Forward-looking property managers and owners are turning to online property management software to help them perform all these tasks automatically, save time, increase efficiency, and improve profitability.

Whether you manage one complex with ten units or an array of properties with hundreds of units, online property management software can make your job easier and benefit your business significantly. There are numerous software options in the market, and your main task is to choose one that meets your needs. Below are six benefits of using online property management software.

1. Advertise Vacancies Online

Many property managers spend much time and effort on traditional advertising. They have to post listing, send applications to prospective tenants, and answer unlimited phone calls. However, online property management lets you fill vacancies quickly and effectively.

Online property management software allows online rental application. Therefore, you won’t need to spend long hours responding to phone calls and emails to provide prospects with application forms. It also enables prospects to see the property, ask questions, and set up an appointment to view the property. Applicants can pay fees online and no need to wait for cash, check, and money order payment.

2. Effective Tenant Management

Tenant management is a complex task for a property manager relying on offline processes. They have

to perform loads of paperwork, meet with tenants to inquire about issues, and plan for maintenance. Online property management software includes a tenant portal that gives tenants a central place to pay rent, request maintenance, view their lease and raise any concerns.

By submitting maintenance requests online, you are spared midnight drama of a tenant calling you because their door won’t lock well. Online property management software creates open communication between you and your tenants that increases tenant satisfaction and reduces vacancy rates.

3. Time savings

Online property management saves you time by managing all things property management ranging from rent collections to financial records and advertising. You get more time to focus on important tasks that have a positive effect on your bottom line such as increasing your current properties and building rapport with tenants. You can increase your property range since managing all properties become easier, the software keeps track of things and notifies you when you need to attend to something.

4. Online tenant background check

Performing tenant background checks has never been easier. Online property management software allows you to conduct background checks easily and efficiently. You don’t require filling paper; you just provide a few details on the client, and you get a tenant screening report almost immediately.

Numerous online background checks platforms have different charges and offer different data. You have the freedom to choose the platform that meets your needs and budget. TurboTenant not only allows you to get a tenant background check, but also an extensive credit check, criminal history, and past evictions report.

5. Easy rent collection

Tenants nowadays want the freedom to pay rent in whatever form they desire. Property managers are conforming to this demand and offering a broad range of ways for tenants to pay their rent. Online property management software offers online rent collections for tenants to remit their rent in their mode of choice whether credit card, check, or money orders. You don’t have to ask for rent from tenants or remind them of the due date; the software does all that for you and notifies you when a payment is made.

6. Easy access to records and finances

Rather than having a pile of papers to keep a record of your rent payments, maintenance requests, rent applications, and other property management documents, online property management software offer easy access to all these records online. Online records are permanent, convenient, and accurate and not vulnerable to loss and errors like paper documents. You can generate comprehensive reports to gain insights on your business’ progress and performance. You can also make data-driven decisions on the business by identifying inefficiencies and spotting new opportunities.

Accounting is among the most time-consuming and labor-intensive tasks for a property manager. He has to monitor money coming in through rent payments and coming out through maintenance costs and vendor payments. Online property management software allows you to manage your finances— both income and expenses. Visibility into your finances helps you budget for your money and increases your revenue.

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What you should look for in a property management software

Online property management software has numerous benefits for property management enterprises. The ideal online property management software should include an online rent payment mechanism, accounting, and reporting features, maintenance request tools, and tenant management. Also, it should be easy to use and provide technical support when need be. The market is flooded with online property management software. However, they are not designed equal, and a solution that works for one business may not work for another.

TurboTenant is the best online property management software in the market currently. It is built by landlords for landlords. The best part about TurboTenant is that it is free for landlords. Below are various distinctive features of the free property management software.

  • Most affordable: it is a landlord software with free core features such as rental marketing and screening. The add-on features are competitively priced.
  • Easy and powerful marketing to assure the best tenants for your property. With one click you get free tenant screening and curated property listing.
  • Provides easy tenant communication and management: With TurboTenant, it is easy to communicate with tenants, prospects, and leads.
  • Fast and time-saving: Apart from the incredibly fast sign up, you get same day rent comparison analysis and tenants get renters insurance policy in less than 3 minutes.
  • Easy to use, mobile friendly, and has a pleasant design. With this free software, you won’t need technical skills to use it. In case of any issues, you have 24/7 customer support.
  • TurboTenant takes the hassle from the rental process, helps you manage the rental process like a pro and save time and money.

Property managers and owners are embracing the benefits of online property management software. They are moving from manual property management to online software to scale up their businesses, streamline their processes and hence attain greater efficiency and profitability. Online property management software automates most of your chores so that you focus on establishing a profitable business. It provides valuable insights to grow your business and improve business operations. If you would like to know more about our property management software, contact us. We’ll show you how it makes your work easy.

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