Getting All You Need from Your Landlord Software?
If a golden age is coming soon for landlords in the UK, Australia, and the US, the challenges of managing properties likely won’t go away. In fact, new solutions are needed to keep up to a changing work landscape.
Income property management is becoming more competitive with all sorts of time consuming tasks, regulations and tenant demands, tax management challenges, and rising costs clouding the profit picture. Managing everything within budget is more difficult.
Traditional landlording was always hands on, manual, on paper or spreadsheets, and face to face. Too much work that needs the right digital management tools.
Consider what modern landlord software offers now:
- automates bookkeeping and accounting entries
- lets tenants pay and communicate in a convenient way for them
- reduces errors, omissions, and rework
- automates tenant acquisition and onboarding
If you could have a landlord software solution designed just for you, what would it look like? Would it make you feel better about your work? What will you do with the time your free up?
We’ve identified the 7 key landlord software features below which make a difference for you in through 2022 and for the next 5 years. That’s a time frame you can manage.
With ManageCasa for instance, all your key landlord tasks come under one dashboard. It provides immense power and it’s easy to use. Power and simplicity for all you need to manage your properties well.
Meeting Industry Challenges
With regulation increasing, taxes increasing, costs rising, profit margins squeezed, and more housing appearing in the rental market, it’s important for small to mid-sized landlords to manage efficiently and profitably.
For you, the question is whether your current solution has what’s needed to meet regulation compliance, keep accurate books, streamline your maintenance and administration tasks, and offer additional features to raise revenues.
Sound interesting? You’re reading now because your current solution really isn’t the business asset you expected. You’ve outgrown it or it’s simply not modern.
Modern requires constant improvement, and we’ve put in that time and expense here at ManageCasa to provide our customers the latest in landlord specialized software.
Some Solutions Not the Favorite Anymore
Many landlords have chosen a software solution, but surveys show many are dissatisfied with them. They’re just not working well enough. Many cling to their familiar choices and never investigate alternatives. But you’re not one of them — you’re doing the smart thing now and preparing for the decade ahead.
Landlord challenges and complaints cited are all over the chart. It’s never one or two issues or tasks. Sometimes it’s that the solution doesn’t do enough, or costs too much, is complicated, or the providers’ customer service couldn’t resolve the landlord’s problem.
This brings us to the matter of getting all you need from your chosen rental management software. We’ve mentioned the best landlord apps, best property management apps and best real estate management apps previously. They’re a good collection of helpful software, some even mobile friendly.
Your software is unheralded but consider all the value it generates.
What are your Pressing Matters?
The most pressing issues are unique to each landlord. Taxes, tenant communications, rent collection, accurate reporting and forecasting, cash flow, maintenance and cleaner management, utility costs, unit showings, rental advertising, lease writing and management, remote management, tenant screening, ROI, contractors and outsourcing cost management, and more deplete your time and energy.
If you narrow down your problems to their core, you might find that how you manage your properties is the problem. It’s the process. You may need to review your business model, see how your financial transactions reconcile themselves in your accounting software, and to screen tenants better, and source new tenants better.
Then using a mobile property management solution, you can manage more successfully.
Your landlord software can help recognize better how you’re spending vs investing and how you might reallocate expenses (renos, maintenance, new appliances, write offs) to raise investment in your units, shelter you from excessive taxes, so you can keep more of your earnings.
Which features of landlord software can you leverage that will cut costs and minimize trouble? Let’s review the most problematic tasks and how software can ease them.
7 Essential Landlord Software Features
- complete integrated platform – too much work leads to fatigue and distraction. One software dashboard brings it all together with the software ensuring all work is streamlined automated. That’s less mental fatigue using an integrated interface. Never before has the word automation been so attractive. Streamlining means more focus and more success.
- online rent payment – automating rent payment makes it easy for tenants, so you don’t have to chase rent, or field questions regarding payments. Tenants ask for the most convenient ways to pay which makes the rent payment feature of your landlord software is one of the most important benefits/services you’re offering.
- tenant communications – your landlord software has an app specifically for optimizing tenant communications. Speaking to them directly, keeping your messages consistent and professional, and providing information helps them solve issues instantaneously. As issues continue they begin collecting more issues, time waste and friction, so responsive tenant communications can ease that waste before it happens.
- late payment and rent arrears fees – When tenants see and know they will be charged for late payment or payment in arrears, they begin to manage themselves more professionally and in accordance to their leases. Your software can make this transparent so they will comply with their lease requirements. There’s no threat, just a visible sign that they are responsible.
- contractor management – with the automation you’ll enjoy with ManageCasa, you can manage contractor maintenance, inspections, or repairs remotely. The time you save overall however, means you can be physically present at properties when you need to be.
- tenant screening – the profitability of your business really comes back to attracting and leasing to good tenants. Good tenants meet their lease obligations and cause minimal property damage meaning you save money. Learn more about tenant screening which begins with rental advertising.
- property accounting – some say landlording is all about accounting and bookkeeping since a big part of the job is recording all daily transactions and balancing the books. It’s important to automate bookkeeping, integrated with lease management so you can automatically bill tenants and process payments without manual work. Say goodbye to manual errors from you or your staff.
Few landlord software solutions offer double entry professional level solutions. A good solution can help you allocate expenses where they should be, so you get the best tax benefits, stay on top of losses, and see which services/benefits are creating the best returns.
That’s 7 must-have features in your Next Landlord software solution you should focus on.
Take care of the main issues using a modern, professional level solution designed to resolve the small issues automatically. Your solution should be your personal property management assistant. Build your rental property business on a good foundation and the future will take care of itself.
Keep in mind that ManageCasa can help manage commercial, retail, and residential assets together. Homeowner associations too use ManageCasa to manage their homeowners neighborhoods.
ManageCasa is a very powerful and capable landlord software platform, professionally planned and designed in make micromanagement a thing of the past. Definitely take time to evaluate ManageCasa and see why it is the benchmark solution for landlords in the UK, USA, Canada, and Australia.
More on the ManageCasa blog: Property Management Software | Compare Software | Small Landlord Software | Top Landlord Mistakes | Landlord Software Features | Landlord Accounting Software | Landlord Challenges | Tenant Landlord Issues | Mobile Landlord Tools | Landlord Reputation Management | Enjoyable Landlord Software | Simple Landlord Software | Rent Negotiation for Landlords | Landlord Support | Landlord Tax Deductions | Landlord Bookkeeping | Landlord Risk & Liability | Landlord Software Features
