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It can seem like a balancing act to own a rental property. Finding a responsible tenant, produce cash flow, collect tenant rent and determine potential late fees, handle maintenance requests, and a thousand other things.
The good news is that these things can be done by yourself, with the support of some software. Real estate investing software can make your life easier by automating all of these commonplace processes and take some work off of your plate.
The finest property management software offers an integrated solution for investors and property managers to help organize rental properties, manage tenants, provide financial reports, sync and reconcile bank accounts, and streamline as much of the work as possible.
As a note, management software proves to be more valuable for owners that have 5 or more properties in their portfolio. You can still use these companies if you have less than that amount, but the value in time and financial savings becomes very apparent with larger portfolios.
Marble is a virtual property management system that helps landlords with the most stressful parts of renting their property. For $50/month owners get listing services to 30+ different websites, background screening reports, and lease generation. Marble also offers a mobile app that helps with automatic rent collection and maintenance support. The tenant directly contacts the Marble team about any issues so owners can avoid the midnight calls. Marble manages properties in all 50 states, back with certified professional vendors for inspections and maintenance service. There are no annual contracts and also have a “À la carte” free tier for specific owner needs.
Avail is a rental property management software that gives landlords access to various online tools, including the ability to screen potential tenants with customizable questions, requests thorough background checks, create and sign state-specific leases, collect rent, and more. Avail is free to use with an option to upgrade to Unlimited Plus for $5/unit per month with additional features like building a property website or a custom lease.
Buildium is a rental management tool designed for landlords with a portfolio of at least 50 units. Although it has some of the same features as other tools discussed, the free trial is only available for 14 days. The monthly fee of a Buildium account can range from $50 to $460, depending on how many homes you own.
Rentredi property management is a service for real estate investors and landlords who need assistance managing their rental properties. You can use the platform to sign and store leases, collect rent payments online, and promote listings on Doorsteps and Realtor.com®. It should be noted that RentRedi requires a subscription plan. Users can select from three different methods: a pay-as-you-go option for $19.95/month, a $15/month semiannual plan, or an annual membership invoiced at $9/month.
Apartments.com provides a comprehensive range of online leasing and management options, including advertising rental property vacancies, interviewing applicants, electronically signing leases, and collecting rent payments. By centralizing tenant data, tracking maintenance requests, and managing expenses, landlords may better manage their tenants. On Apartments.com, listing a vacant home goes only to 5 different listing sites. It is a cost effective software but comes with limitations in features.
Create your account for free and a Marble representative will walk you through everything.