Studies show that real estate businesses can grow by at least 36% if they use the right technologies. Hence, it’s not surprising if landlords and property managers deploy the advanced landlord software to manage their rental properties. It helps to minimize the risks of choosing the tenants having a bad criminal history or inability to pay rent on time.
Also, you can streamline the entire process of renting out from one tenant to another. Here is how this software can bring more expediency and efficiency in your operations.
Faster Property Listings
When you choose a comprehensive solution for managing your properties, it makes your life easier. You can create impressive listings that can be syndicated or uploaded automatically to the popular platforms. It gives you better exposure to the property market. Also, a dedicated software solution sends all notifications and inquiries directly to your inbox to enhance the efficiency of your renting processes.
Apart from active listing, you can also bring speed in online applications by the prospective tenants through this portal. The tenants interested in your property can provide their information and create a renter profile on the platform to help you in further processes. With this information, you can screen the prospects and choose the best applicants.
Effective Tenant Screening
Tenant background checks and screening are essential for a safe renting and leasing process. Hence, if you choose the right landlord software, it can bring expediency in this process as well. It allows you to run full credit checks and background screenings based on the tenant applications.
The system provides detailed reports that include credit scores, income details, evictions reports, and criminal reports for each prospective tenant.
Quick Execution of Leases
Lease management and execution are essential components of property management. If you use advanced and automated software, it allows you to execute the lease documents with e-signatures from the tenants.
The best platforms help you to select the format and templates of a lease for each specific state in the country. You can choose the right format and use it for each tenant. Also, the system sends automatic notifications about the expiry of the lease and enables auto-renewals as well.
Timely Rent Collection
Many landlords struggle with manual systems to manage the process of rent collection, especially if they have multiple properties. This is where the right software can ease your burden through electronic and automated rent collection.
You may provide details like the rent amount and the due date for each rental. The system will automatically track the payment status and send you notices for late or missed payments.
User-Friendly Maintenance Ticket Management
The traditional systems of managing maintenance tickets through multiple text messages, emails, or phone calls create more burdens on the property managers. An automated platform, on the other hand, reduces the inefficiencies by providing an up-to-date maintenance record management and tenant communication system.
It allows you to keep all tenant records in one place and track every maintenance request in real-time. With better monitoring, you can keep your property in the best conditions through preventive maintenance.
This is how an advanced landlord software system can help you manage your property for more occupancy and better profits.