{"id":8123,"date":"2023-07-01T22:20:38","date_gmt":"2023-07-01T22:20:38","guid":{"rendered":"https:\/\/imsfund.com\/?p=8123"},"modified":"2023-07-01T22:20:38","modified_gmt":"2023-07-01T22:20:38","slug":"9-ways-your-property-management-tool-can-improve-your-business","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2023\/07\/01\/9-ways-your-property-management-tool-can-improve-your-business\/","title":{"rendered":"9 Ways Your Property Management Tool Can Improve Your Business"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div :class=\"{ 'hidden': $store.proContent.showFullPrompt() }\">\n<section class=\"px-4 relative border border-slate-200 mobile-toc lg:hidden\" x-data=\"{open:false}\">\n<button class=\"flex items-center gap-4 my-2 border-none w-full\"><br \/>\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-6 w-6\" fill=\"none\" viewbox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M4 8h16M4 16h16\"\/><\/svg><\/p>\n<h2 class=\"font-semibold text-slate-800 text-base m-0 js-toc-ignore\">In this article<\/h2>\n<p><\/button><\/p>\n<\/section>\n<p><em>This article is presented by RentRedi. Read our\u00a0<a href=\"https:\/\/www.biggerpockets.com\/editorial-guidelines\" target=\"_blank\" rel=\"noreferrer noopener\">editorial guidelines<\/a>\u00a0for more information.<\/em><\/p>\n<p><span data-preserver-spaces=\"true\">When it comes to managing your tenants and properties, you want to ensure that you\u2019re doing so efficiently. Not only does it help your business stay organized, but it also helps foster a good working relationship with your renters.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Fortunately, you\u2019re not alone when it comes to managing your real estate business. Using property management software can be an advantage when it comes to cultivating a good landlord-tenant relationship and streamlining how you manage your properties.\u00a0<\/span><\/p>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">1. Screen Tenants<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Finding and screening tenants is a crucial step in managing rental properties. So, you want to make sure that you\u2019re doing it properly. Luckily, property management software can help you manage the process every step of the way\u2014from <a href=\"https:\/\/www.biggerpockets.com\/blog\/tenant-prescreening\" target=\"_blank\" rel=\"noreferrer noopener\">prescreening<\/a> to applications to full background reports.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">When you use in-app prequalifications, applications, and <a href=\"https:\/\/www.biggerpockets.com\/blog\/2013-01-27-tenant-screening\" target=\"_blank\" rel=\"noreferrer noopener\">tenant screenings<\/a>, the information is collected and stored in a central location. Background checks done with property management software will provide you with credit, criminal, and eviction reports. Then, you can dive into each application and decide which renters are fully qualified for your rental property based on your requirements for credit score, income, pets, etc.<\/span><\/p>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">2. Build a Tenant Database<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">If you have more than one tenant, it\u2019s difficult to keep track of who lives where, who\u2019s paid what, and who owes money. Using property management software is a great asset when it comes to building a tenant database that manages all this information for you so you\u2019re able to access it at a glance.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Another benefit is lease and document storage for tenants. You can use property management software to upload electronic documents and store them in the app so that they are easily on hand at all times, especially if you\u2019re using cloud-based software. Property management software also enables you to send these documents to the tenants electronically so they are able to store them in their tenant app as well.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This helps your business stay orderly, so you can keep focused on managing your rentals and not tracking down tenant information or searching for paper leases.<\/span><\/p>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">3. Onboard Tenants<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">When it comes to onboarding your tenants, go over the property and lease rules to make sure your tenants understand their responsibilities for your rental.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Of course, when the tenant signs the lease you might assume they\u2019ve read it over. However, it\u2019s still a good idea to sit down with the tenant and go over any specific duties they might have, like mowing the lawn or making sure the trash is taken out on garbage day. Talking over the property rules and agreements with your tenants ensures both parties understand who is responsible for the different aspects of maintaining the property.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Additionally, going over these responsibilities is a great way to show them you\u2019re communicative while also building a professional relationship with your renters.<\/span><\/p>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">4. Connect to Your Tenants<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Too often, landlord-tenant relationships become fraught with tension when miscommunications occur. Thankfully, property management software can be a great asset when it comes to making certain that communication occurs with your tenant after you\u2019ve gone over the initial onboarding process with them. Typically, property management technology comes with features you can use to notify your tenants\u2014like push (in-app) or email notifications.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">These notifications are helpful for conveying necessary information to your renters. For example, if a tenant submits a repair request for a water leak, you can use property management software to send an in-app and email notification to the tenant when maintenance will be by to fix the issue. You can also use the software to send notifications like automatic rent reminders so that you can reduce the likelihood of your tenants forgetting to pay rent on time.<\/span><\/p>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">5. Help Tenants Pay Rent Efficiently<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\"><a href=\"https:\/\/www.biggerpockets.com\/blog\/landlords-venmo-paypal-collect-rent\" target=\"_blank\" rel=\"noreferrer noopener\">Collecting rent can be chaotic and challenging<\/a>. You may have one tenant who wants to pay with cash, another with a check, and still another with an app. Fortunately, property management software can handle all rent-paying preferences. Yes, even cash-paying tenants!\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Property management software can have partnerships with businesses like Chime that enable them to create accounts and deposit cash at many in-person locations, then submit the payment via their tenant app. Additionally, you can also offer your tenants the ability to pay with ACH and card so that you\u2019re covered when it comes to all types of payments.\u00a0<\/span><\/p>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">6. Report On-Time Rent Payments<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Some property management software comes with features like credit reporting that enable renters to report their on-time rent payments to credit bureaus. This helps them build and improve their credit score, which is important for many renters in today\u2019s society.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This can be a great incentive for tenants to pay their rent on time and also shows that you are able to offer progressive features that tenants wouldn\u2019t otherwise have access to outside of using the property management system.<\/span><\/p>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">7. Purchase Renters Insurance<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Another important benefit that property management software can offer tenants is renters insurance. Many tenants don\u2019t feel the need to buy renters insurance because they mistakenly believe that your landlord insurance covers damages and theft of their personal belongings and liability issues.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, it\u2019s important to explain that renters insurance is what tenants need to protect their belongings and personal liability for their rental. Fortunately, property management software can enable renters to purchase renters insurance directly in the app, making it a snap to get coverage for their belongings.<\/span><\/p>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">8. Manage Maintenance and Repair Requests<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Another major hurdle that the landlord-tenant relationship face is maintenance. When tenants notice an issue, they\u2019ll want a way to easily communicate with you about how to resolve it. Property management software is effective in that it provides a way for tenants to submit their maintenance requests via an app straight to you. Then, you can determine the next steps for fixing the repair.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">From your end, you can easily assign the repair to maintenance personnel or handle the repair yourself and use the notification features mentioned above to let the tenant know when they can expect the issue to be resolved.<\/span><\/p>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">9. Better Tenant Management with Property Management Software<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">By utilizing technology to manage your rentals, you not only streamline and organize your business, but you also offer your tenants plenty of benefits for using the technology as well. Property management software can also be used to make your tenant\u2019s renting experience better. This can include different options for paying their rent, credit reporting, renters insurance, and maintenance requests.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Overall, property management software is an effective solution you can use to manage your tenants and real estate portfolio. Even better? RentRedi has property management software that is offered for free to BiggerPockets Pro members, who can sign up right from their Pro page. Manage an unlimited number of tenants and properties, collect rent, screen tenants, list properties, sign leases, and handle repairs\u2014all from one app. If you\u2019re not a BiggerPockets Pro member, sign up for all the additional content, advice, and products you can use to manage your entire real estate experience.<\/span><\/p>\n<p><a class=\"editor-rtfLink\" href=\"https:\/\/rentredi.com\/biggerpockets\/utm_source=BiggerPockets&amp;utm_medium=sponsoredarticle07.01.23&amp;utm_content=GetStarted\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Get started using RentRedi today!<\/span><\/a><\/p>\n<div class=\"wp-block-group border border-gray-200 p-6 rounded-md has-slate-50-background-color has-background is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-group__inner-container\">\n<h3 class=\"has-text-align-left mt-0 wp-block-heading\"><strong>This article is presented by RentRedi<\/strong><\/h3>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"450\" height=\"151\" src=\"https:\/\/bpimg.twic.pics\/https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/01\/rentredi_logo_300x100_black_e8flvm.png?twic=v1\/cover=450:151\/max=1000\" alt=\"rentredi logo\" class=\"wp-image-146440\" srcset=\"https:\/\/bpimg.twic.pics\/https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/01\/rentredi_logo_300x100_black_e8flvm.png?twic=v1\/cover=450:151\/resize=450\/max=1000 450w, https:\/\/bpimg.twic.pics\/https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/01\/rentredi_logo_300x100_black_e8flvm.png?twic=v1\/cover=450:151\/resize=300\/max=1000 300w, \" sizes=\"auto, (max-width: 450px) 100vw, 450px\" title=\"9 Ways Your Property Management Tool Can Improve Your Business 2\"\/><\/figure>\n<p>RentRedi is a modern, end-to-end property management software transforming the real estate and rental property industry.\u00a0<\/p>\n<p>RentRedi provides over 15,000+ landlords with simple and effortless web and mobile apps for online rent collection, tenant screening, listings to Zillow and Realtor.com, signing leases, maintenance &amp; accounting management, and unlimited properties, tenants, and teammates<\/p>\n<p>For tenants, RentRedi\u2019s easy-to-use mobile app allows them to pay rent, set up auto-pay, report rent payments to TransUnion, prequalify &amp; sign leases, and submit maintenance requests.<\/p>\n<\/div>\n<\/div>\n<p class=\"italic\"><b>Note By BiggerPockets:<\/b> These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.<\/p>\n<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.biggerpockets.com\/blog\/nine-ways-to-use-property-management-software\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this article This article is presented by RentRedi. Read our\u00a0editorial guidelines\u00a0for more information. When it comes to managing your tenants and properties, you want to ensure that you\u2019re doing so efficiently. Not only does it help your business stay organized, but it also helps foster a good working relationship with your renters.\u00a0 Fortunately, you\u2019re [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":8124,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/property-management-software-1024x517.jpg","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-8123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/8123","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=8123"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/8123\/revisions"}],"predecessor-version":[{"id":8125,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/8123\/revisions\/8125"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/8124"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=8123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=8123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=8123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}