Nobody ever said that managing a rental property was easy. You need to find renters, screen applicants, collect rent payments, communicate with tenants and handle repair requests, all while trying to make sure you’re staying profitable. Sometimes, it can seem like an impossible task, but the right rental management resources can help.
We’ve put together a list of 14 of the best rental property management resources to help you stay organized. Choosing the right property management software is essential, so we’ve listed a few options, including free services and services that cost extra but come with some enticing bells and whistles. Other resources can help you with everything from monitoring your property to picking up some extra income by offering in-unit package delivery to your tenants.
1. Landlordy: Property Management Software
If you only have one rental property and you need a simple, inexpensive way to manage it, Landlordy might be what you’re looking for. The free version works for a single rental property with a limited number of expense and payment records. If you need more, you can pay a one-time fee to upgrade.
2. TurboTenant: Property Management Software
TurboTenant is free for landlords, and it can be used whether you own a single property or multiple properties. The free features for landlords include rental management, advertising tools and online rent collection. Tenants can make ACH payments for free, but there’s a 3.49% fee for credit or debit card payments. Tenants also have an option to purchase renters insurance. The program supports applications and screenings, and landlords can choose to have renters pay the background check fee, or they can pay for this themselves.
3. Innago: Property Management Software
Innago is another free option for landlords in need of a property management program with lots of features. Its features include online rent payment collection, maintenance requests, reports, tenant communication management, online lease signing, rental listings, insurance for renters, and tenant screenings. The mobile app lets you and your tenants access the program anywhere, and landlords can embed the application on their website.
4. Rentler: Property Management Plus Rentability Report
If you’re looking for free property management software, Rentler is another option. The free services include listings, applications, maintenance tracking and messaging. Screenings are included, but the tenant has to pay for a subscription. Likewise, payment collection is included, but renters have to pay a 2.9% fee for debit or credit card payments. In addition to the free services, Rentler also offers rentability reports to help you decide if your price is fair.
5. Rentec Direct: Property Management and Tenant Screening
This option isn’t free, but it could save you money in the long run. The tenant screening program requires a small monthly fee, but it covers credit, criminal and eviction reports, and if you do a high volume of tenant screenings, it could end up saving you a good chunk of change over time. The property management program includes online file management, an accounting system, online rent collection, vacancy listings and even a professional website.
6. Apartments.com: Online Property Listing
Finding tenants can be a hassle, but Apartments.com makes listing your property easy. The company says that more than 25 million visit the website each month. Despite the name, you can list other types of rental properties, like duplexes, townhomes and houses, on the website. The company does more than help you advertise your property, too. You can also receive applications, screen applicates, generate leases, collect payments, manage residents, organize expenses and track maintenance.
7. Stessa: Accounting Software for Rental Properties
Are your real estate investments paying off? Stessa is designed to simplify rental property finances by helping real estate investors keep track of property performance and finances. Through Stessa’s parent company, Roofstock, people can buy or sell real estate.
8. MaintainX: Facility Maintenance Software
Staying on top of maintenance is a key part of keeping your tenants happy and avoid more expensive problems down the road. MaintainX helps you stay on top of maintenance requests by automating work order assignment. The program also helps you keep up with routine and preventative maintenance by setting up repeating work orders. The reporting features let you keep track of everything, and can be a handy tool for documentation of maintenance which might come in handy later.
9. DocuSign: Electronic Lease Signing
These days, many important documents are signed electronically, and this option can be much more convenient because it means property managers and new tenants don’t have to meet in person just to sign paperwork. It’s also nice for both parties to have access to an electronic copy of the lease. DocuSign offers electronic signature options for leases. Once you have an account, you can use it to email lease agreements to tenants. They can sign the document without setting up an account.
10. MRI: Package Tracking
Does it seem like property managers have become post office workers? Many residents receive a large number of packages, and property managers often accept packages as a courtesy. The MRI package tracking software makes it easy to track and manage package deliveries. You can use the program to notify your tenants of a package, or you can earn extra income by offering in-unit deliveries for an additional fee.
11. MRI: Automated Communications
This is another option from MRI. The program helps you automate communications with both residents and prospects with interactive voice recognition, multi-channel communications, call recording and after-hours call handling.
12. MRI: Inspection Software
Here’s one more option from MRI. (The company has even more programs not included on this list, so check out the website.) MRI Inspections lets property operators remotely monitor their properties in real time. This way, you know exactly what’s happening, so if there’s a dispute, you can settle it fairly, and if there’s damage, and you can see who’s responsible and charge the appropriate fees.
13. Mention: Brand Monitoring
Tenant disputes can get ugly, and it’s not uncommon for unhappy tenants to post their grievances online. Mention provides services to help you monitor the internet for mentions of your company. There are multiple options and a free trial so you can see if it works for you.
14. Honeycomb: Inspector App
The Honeycomb Inspector App is a powerful tool we use to get you covered in a fraction of the time it takes elsewhere. Allowing our customers to complete their own property inspection provide us the information we need without delaying the process.
We hope these property management resources help you. Are you ready to get customized landlord insurance? Get a quote now.