What to Look For In A Rental Management System

rental management system

As a landlord or an agent, managing your property and its rental collection can be a chore, even more so when you’re managing multiple properties or tenants. As expected, in this age of the internet, there’s no shortage of websites and softwares to help in this regard. In fact, there may be too many. Thus, here we will list the things you may want to look for in a rental management system.

1. Interface

Since this screen is something you’ll see frequently, it’s important that you don’t hate the screen. Make sure that there are not any annoying elements that may grate your patience after many uses of the rental management system. The front page could also simplify things by displaying the necessary information for ease of access. This could include things like upcoming rent, overdue rent, rent paid, and any noticeable updates. On the other hand, it’s important to take note of the interface on laptop and also mobile. While most websites have a laptop version, a mobile version would be very helpful, as it could allow on-the-go checking of rent

2. Automated Workloads

rental management system

In the rental management system, a system to automatically carry out designated tasks can vastly improve its value. Automating these tasks can assist in saving plenty of time. The most obvious one is in automatically collecting rent from the tenant, also known as direct debit. This system can automatically collect rent from the tenants’ bank account and deposit it into the landlord’s or agent’s. Neither party will have to give much attention to rental payments after this. Furthermore, check if the rental management system has a system in place to automate sending notifications to tenants before the due date, and after the due date if they’re overdue.

3. Information Sorting

rental management system

When managing properties, there’s a lot of information that needs to be remembered. These includes things like the necessary documents, schedule of tenants’ payments, tenants’ details, payment receipts, and other miscellaneous information. Without using the internet, you’d have to keep files and cabinets full with this information, not mentioning the pain that comes with losing that one necessary document. However, most rental management system should have system in place to sort out this information. A good system will have these information displayed clearly, such as rental date and tenant details. They also have to have these necessary information be easily retrieved by the landlords or agents whenever needed.

4. Guides and Tutorials

A rental management systems should have a tutorial or guide system in place to assist the user. All systems have different methods to maneuver through it, and even though they tend to be similar, shouldn’t assume every user to know its nooks and crannies. Thus, a good rental management system should have an updated tutorial or guide to help the new landlord or agent.

5. Final Words

Finally, to know if a system is good, it may be worthwhile to ask around for other people’s opinion on it. If you have no one to ask around for, you could just test out the system yourself. A landlord or agent could trial run the system for a few years before switching to another to test it out.  As an agent, if you need a website to assist you, RentGuard may be a good one to try.

rental management system

Source: propertyme.com

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