A Burlington Owner's Guide to the Best Property Management Software

Many new investors don't realize how much work is involved when owning a rental property. With so many tasks required for success, it can be challenging to keep up with everything. Fortunately, there are tools out there that help simplify the process for you! The best property management company Burlington offers can help you understand your needs and how the right technology can help you work more efficiently while maximizing returns. 

Today, let's talk about what investors need from the best property management system or software and how rental property owners can benefit from expert insights!

What is Property Management Software?

Property management systems are among the best investments that a rental property owner can make when operating rental units! It's a system designed to organize and automate various tasks involved in successful rental property management. With the right software, investors have help keeping up with day-to-day tasks, documentation, maintenance requests, rent collection, and more. 

In addition, one of the essential facets of owning a rental property is knowing what's going on at all times, including who your tenants are, the rent roll report for your rentals, how much money you're spending on repairs and maintenance, and more. With a property management system, a property owner can measure and maintain the performance of their portfolio, including retention rates and resident satisfaction. 

What Are the Day-to-Day Tasks of Property Management?

Your rental property is a business. It must be maintained and managed like any other type of business. This includes managing big-picture responsibilities, like goals, setting up a business entity, analyzing ROI, and more. Running a real estate investment business also requires keeping up with daily tasks that can get missed without a good system in place. 

Property managers can tell you that the daily or routine tasks required for effective rental management include: 

• Finding tenants and keeping them happy
• Creating leases
• Ensuring that a property stays in good condition and meets all legal requirements to keep tenants safe 
• Managing tenant relationships, including dealing with maintenance requests right away
• Collecting rent
• Marketing vacant rentals effectively

Without a good property management software system in place, investors can miss critical tasks and damage ROIs. 

Why It's Important to Have a System

If you're using spreadsheets and post-it notes to track rent payments or as a reminder to schedule seasonal maintenance, you could be putting your properties and renter relationships at risk. 

Property management software is necessary for owners to keep up with the tasks we've mentioned (and more) so that nothing falls through the cracks or leaves you vulnerable to income loss or liabilities. Having a system to track when repairs need to be made, hold contact information for tenants, and lease agreements helps investors ensure successful tenancies and better returns!

Property management software can help automate processes for you so that you don't have to spend valuable time on routine tasks. For example, with software that sends automatic past-due rent reminders, allows tenants to pay rent online, and collects maintenance requests for you, you don't have to worry about losing a sticky note with critical information on it!

Tips for Choosing the Right System

So, which system is the best? When looking for property management software, here are some things to consider:

• What functionalities do you need? Some systems (like Zillow Rent Manager) offer solutions in only one or two areas, while others deliver help in more areas. 
• Who needs access to the system? Will you be the only person using it, or do it need to help coordinate a team of individuals?
• Do they offer apps that work on mobile devices? Accessing a system from anywhere helps investors operate more efficiently! 
• Do they offer live support and training when you need it? Or do they only provide pre-recorded tutorials?
• Does the software easily integrate with other systems? An excellent system makes it easy for your email or accounting systems to work together. 

If you're not sure how to find answers to these questions or analyze the best systems for your needs, work with a property management company for insights!

A Boston Property Management Company is the Best System!

To maximize returns, it's essential to have the right tools for your business. The best property management software helps reduce time spent on tedious tasks and provides insight into what needs more attention from you as an owner. However, if the time and expense of finding and implementing a system aren't where you want to invest your resources, the best property management companies offer these services to property owners.

CHARLESGATE Property Management Company already has the best systems, processes, and experience in place to serve rental property owners and residents well. However, we know that there is no one-size-fits-all solution for managing your rental properties because each investor has different requirements based on budgets and goals. If you're looking for the best system, reach out to learn more about our customized approach to property management services!