Introduction
The reason real estate is open of the most lucrative businesses to get into, at any time in the cycle, is because it typically will become more valuable due to there being no more land to build on. If we were already a multi-planetary civilization, then we wouldn't have to worry about land, but right now the world is so populated that people will always need a place to live. If you own real estate already and are looking for better ways to manage your properties, in this article we will be discussing 3 tools you need to manage real estate, with one of those tools being a pms software.
4 Tools you need to manage real estate in 2019
In order to manage real estate, one needs to be organized. A property management software contains everything you need in one place in order to remain organized. The three tools we will be discussing, make it easy for a property owner to collect your monthly rent via a portal, tend to maintenance requests, and to market for new potential tenants. Other aspects of these property management software tools include accounting, managing documents, and reporting. The customer service features are also nice because it allows your tenants to feel good about renting your property.
Our favorite four tools to use for this are: Tenant Cloud, AppFolio Property Manager, Buildium, Skytouch Technology
Tenant cloud allows you to start for free until you have 75 units being managed. If you're a large multi-family investor, this won't work for you. However, if you're barely starting out or own a few houses, this is a great option. If you do have more units, the price will be nine dollars a month until you get 150 units. Once you have 150 units or more, the price increases to $35 per month which in nothing compared to some of the others we've seen. You have rent collection, rental listings, vacancy listings, and requests for maintenance that are unparalleled. One feature that we have not seen on other software is the ability for individual roommates to pay their own rent.
AppFolio Property Manager can be used the same on a laptop as on a computer. You can add photos of your properties with your phone and even record notes via speech recognition so you don't forget to "call the plumber to fix the bathroom faucet leak at unit 36". AppFolio has all the features that a property management should have, like we mentioned with Tenant Cloud. You can collect rent online, your tenants can request maintenance through their app, and you can create reports and a variety of other documents. You'll be able to have folders with each of your tenant's paperwork so you don't miss anything or misplace an important document. There is no free trial for this software so you either go all in or none at all.
The third software we like is Buildum. If you're not computer savvy, this software will guide you through all of its features until you understand and can use the technology. Even after you've completed the guide, it will be available for you to access at any time so you can have some time to get used to the software. Most of the websites and tools we've used in the past don't do this. As soon as the guiding instructions are "completed" that's it, you have to figure it out on your own. Building has the same features as the others we listed, and starts at $45 per month with a cap of 20 units. From there, you will have to contact the company to see its pricing structure.
The final software we like is Skytouch Technology. Their pms software is awesome. Their interface is intuitively designed so you save time training and slash the number of resources needed to operate successfully and efficiently. Their tape chart provides a user-friendly space to service reservations. View room availability, optimize room usage, and make, modify or cancel reservations all from one convenient screen. With their guest experience program and many guest-centric integrations, your guests will receive an above and beyond experience that makes their stay memorable.
Conclusion
In conclusion we discussed the topic of real estate and real estate investing software that you need in 2019. Every year technology gets better and software becomes easier to use, more comprehensive, and with a more simple user interface. We hope you select one of the four we listed because they really are some of the best.
