While other markets are struggling, real estate is flourishing. People are deciding to grow their property portfolios and enjoy the benefits of renting out a house. There are a growing number of estate agencies opening as well as private landlords renting out a second home to make more money.
The rental market value was at its highest last year, and it’s set to remain at a strong level. To be successful as a property manager, you’ll need software to assist you. Here’s a list of the best property management software.
Apps for managing tenants and applications
Appfolio
Appfolio allows you to review and accept online property applications and is easy to use. The owners’ portal offers access to statements and reports, and tenants can submit maintenance requests. Overall, the app is easy to use and property owners can keep in regular contact with their tenants.
Rent Manager
Rent manager is easy to set up and even comes with a website creator. It’s a property management platform that allows you to resolve service issues and keep track of your finances by using detailed reports. The best part of Rent Manager is that it’s mobile-friendly, so you can manage your properties wherever you are. The app is also great for tenants, as it allows them to sign documents and keep track of their transactions.
Apps for scheduling and finding new tenants
Re-Leased
Re-leased lets you rent a number of properties, and it’s compatible with Google calendar, Outlook and Microsoft 365. You can view your upcoming tasks and keep in regular contact with tenants. The app also has top-level security, which is a huge advantage. There are different packages available depending on your budget.
While property management apps are popular, they require a lot of time from landlords. There are many companies across the UK that provide property management. One of these is Property Management Cheltenham group https://www.completepropertygroup.co.uk/property-block-and-estate-management/, offering services in Cheltenham and the surrounding areas.
Buildium
This app is popular among specialists, as it allows you to manage a lot of properties at once. You can advertise your properties and find new tenants online too and communicate with stakeholders. You’ll be able to resolve maintenance issues quickly and effectively, and the app offers users a lot of convenience. It’s an easy-to-use platform, but you’ll need a lot of money to fund this app – it’s expensive!
Summary
This article rounds up property management software recommended for landlords and letting agents in 2018, covering Appfolio for handling online rental applications and tenant maintenance requests, Rent Manager for mobile-friendly finance tracking and document signing, Re-Leased for calendar integration and top-level security, and Buildium for managing multiple properties and finding new tenants, though it notes this last option is expensive.
Questions this article raises
- How do the subscription costs of these four property management apps compare?
- Which of these apps is best suited to a landlord with only one or two properties?
- How do these platforms handle data security for tenant information?
