As a real estate property investor, you want to put as much of your work time into improving your properties and meeting tenants' needs as possible. As a result, most people don't want to spend lots of hours re-organizing a disorderly administrative system—they want a system that works and saves them time and money.
Investing in a property management system allows you to combine many record-keeping and operational tasks into one easy-to-use portal. However, not all systems deliver what every property owner needs. So how can you pick the right software-based property management tools? The best property management Edmonds offers has some recommendations!
Determine What Your Property Management System Needs to Accomplish For You
There are many things that most property management systems can do for you, from offering a rent payment portfolio to keeping all of your critical leasing documents in one place and integrating tenant screening information into a secure platform. However, property owners must identify the main ways this system will improve their task management and operations before deciding on a system.
If your portfolio of rental properties is becoming difficult to manage, or you're losing money based on your current processes, you might be in the market for a system that has a great mobile app to help you get things done on the go. Or, maybe you need the most help with rent collection, but you have a bookkeeper to run the numbers for you.
Before choosing a system that does more than you need (or not enough), make a list of what you hope this system can do for you.
Ask Trusted Sources for Recommendations
A property manager is an excellent resource for recommendations on property management systems. The best property managers already utilize software and technology to manage multiple properties for owners. These experts need their systems to work well, so they will likely recommend a program that can meet your needs based on their professional experience.
Beyond your property manager, however, you can look for review websites online to check out reviews for the software you're considering, including products like Zillow Rental Manager. Pay attention to good reviews as well as comments that highlight the potential "cons" of a product to gain an informed picture of a system.
Rental property investors can also talk to other owners to see how they use technology to stay organized, collect rent, and improve the lease renewal process.
Research Features and Watch Tutorials
One of the great things about sites like YouTube is that many companies will post software walkthroughs or tutorials that allow you to see how a property management system works. Of course, it is all well and good if a given software works in general, but if you find the interface hard to use or can never find what you're looking for, you won't get the value you need from it.
Watching the tutorials will also help you make sure that the features named in the product's specifications match the functions you need from your original list. Will this software save you time and improve your bottom line? Video walkthroughs are a great resource to figure this out. It's a way to get a "free trial" even before signing up for some free trial or discounted trial period with a given software.
Watch out for "Free" Solutions or Unrecognized Brands
While you may initially balk at the prices of the top brand names in this business, be aware that if you're spending anything on a property management system, you want it to do the work you set out to accomplish. It's never wise to go with a low-cost solution to save money if it doesn't provide the functions you need or help improve your operations and profits.
With lower-cost, free, or unreviewed brands, you may get "some" software, but you might lose out on features, slow your website, or suffer from a lack of good customer support. This means your effort to cut costs means you actually paid for something that you don't use at all or that wastes your time.
Just because it's free doesn't mean you should use it! Instead, work with an Edmonds property management company to find a complete solution worth your investment while improving your returns.
The Best Property Management Edmonds Offers Is Ready To Help!
The Joseph Group works with the latest technology and software solutions to maximize returns for property owners! With our services, we manage the day-to-day needs of your rental properties and tenants. In so doing, we've found great value from putting our rent roll and other functions into a property management system to make our operations more efficient. When we operate efficiently, you save money and experience better profits for your residential property.
We'd be happy to help you create a system that enables you to focus on the elements of your property ownership that boost your revenue and long-term income. Reach out soon to learn how we can help!