Choosing the Right Boston Property Management System [Rent Collection and More]

Updated August 8, 2022

Renting out a property isn't quite as easy as it might seem. Buy a home, find potential tenants, collect the rent, right? 

If you started with that idea in mind, you probably quickly realized there's more to operating a rental property than those three fundamental tasks. So what can property owners do? Finding the right Boston property management company and software for rent collection and other features can be difficult if you don't know where to start! We hope this blog post will give you some insight into choosing the right software systems and property management experts to maximize your revenue!

How to Choose Rental Property Management Software

A key to the right software is using something to help you stay organized. As your real estate investment portfolio grows, so does the time it takes to keep track of everything that goes into making (and keeping) money. Whether you are a do-it-yourself landlord or using a property management company, you'll need robust property management software to keep up. 

Look for the following crucial factors when reviewing property management technology solutions. 

Easy to Use

A property management system should save you time! With the right software solutions, a property owner can eliminate manual processes (like collecting a rent check). Look for a software system that automates time-consuming activities and is simple to use. It's a good idea to ask for a video tutorial on the software to help you learn and utilize a new piece of technology right away. Choose a cloud-based system to keep your information and documents stored and made available to you wherever and whenever. 

Allows (Almost) Instant Communication

Communicating with tenants, property managers, and service providers directly saves time (and can often avoid miscommunication). With a secure online portal for tenants, you become easier to reach without renters feeling frustrated by unanswered phone calls or emails. 

Is Affordable 

Whether the system has a per unit or a monthly fee, always check the fine print for hidden fees. Successful landlords do their homework before handing over hard-earned cash for new tools, technology, or professional property management services. A pricey software system isn't always the best solution for your needs. 

Accepts Online Rent Payments

Paying the rent with a paper check is no longer the best way to get the rent in on time! Today, most people pay their bills (including rent) online. Ensure that your chosen program includes an online payment option for convenience for you and your residents. Some online payment processors charge a fee, while others are free. Explore options by contacting professional property managers for insights. 

Handles Accounting and Work Orders

Ensure your property management system includes accounting capabilities, including rent roll, or integrates with other accounting programs. You'll also want to receive, process, and close work orders (like maintenance requests) through an integrated system. 

Offers Technical Support 

Ask about technical support. Is it free, or is there a charge? Is it available whenever you need it or only open between normal business hours? An excellent property management software solution delivers the technical support you need to operate it well. 

Research Multiple Options

Before you sign up for the first thing that shows up in an online search, it's essential to research multiple options and find out what fits your needs and goals. Here are a couple of things to keep in mind when doing due diligence on property management systems: 

• Make sure the system comes from a credible source or with the recommendation of experienced property managers. New landlords can waste a lot of time and money using systems that don't work for their needs. Instead, look for proven leaders in the industry with experience and know-how. 

• Look at online reviews. Online reviews are the new word of mouth! Analyze input from real users, and search online for "property management companies near me" to find a reliable industry expert to give feedback, as well. 

When you find a few good options to try, book demos and ask for a trial version to explore the software on your own. 

Real Estate Professionals Offer More Than Listing Help

While there are plenty of free software options to help with some aspects of managing rental properties, a property owner should consider a more comprehensive solution. For example, a service like Zillow Rent Manager can help you list your properties and start the tenant application process. However, it won't help you screen residents, collect a security deposit or monthly rent, determine gross rental income or respond to renter requests. 

Consider a full-service property management company that can help you do all of those things, plus deliver the best property management system to manage your properties to profitability!

A Boston Property Management Company Delivers the Best System 

It takes a little effort to find a system that fits your style and does everything you need to do at a price that makes sense. However, partnering with the right property management firm can help you save time and money choosing the best system for your needs! 

CHARLESTON Property Management has years of experience handling property management and putting expert systems in place to manage real estate investments. Give us a call to learn more about how we use technology to maximize ROI!