If you are an investor and/or landlord for single-family rentals, you are always hustling. From finding the best properties in the hottest areas to answering calls for emergency repairs–not to mention collecting rent–your tasks are wide and varied.
Today’s most successful landlords leverage technology to help. Many basic tasks can be streamlined using the latest apps. A few of our favorites allow you to set rent payments, track lease agreements, and even collect rent online.
Being a successful landlord requires keen insight into the rental market where you operate, so you can set rent prices to maximize profits and minimize vacancies. Many landlords scour Realtor.com for the latest listings and then complete their own market analysis to set rent prices.
Rentometer, a free online service with enhanced paid options, does the legwork for you. Simply enter the address of your rental property and your intended rent price, along with the number of bedrooms and the radius for which you’d compare prices. Rentometer immediately reveals whether your suggested rent is too high, too low, or just right. It also lists the median and average rents for the area. Pro features on the paid version include refined search parameters and a detailed property list so you can learn even more about your competition in the neighborhood.
Landlord Studio Does the Work of An Office Manager for You.
Landlord Studio, formerly Property Buddy, helps you replace at least some of the duties of a property manager with an app designed for Android and iOS devices. It’s designed to take the place of general accounting software by helping you track income and expenses on individual properties, see when leases expire, and track rent payments. Through the graphic-oriented dashboard, you can view property details on your SFRs, check occupancy at a glance, and even generate professional reports that can be exported to Excel.
While it cannot answer a midnight call from a tenant whose AC is not working, Landlord Studio can make many of the financial aspects of your life as a landlord easier. Whether you own one property or 100+ units, Landlord Studio is scalable and affordable at 50 cents per unit, per month.
Work more efficient with iManageRent Cloud-Based Solution
If you are looking for a more comprehensive property management solution, iManageRentcombines several handy features into a cloud-based solution you can access through your computer or any mobile device. Streamlining virtually every aspect of property management, it combines the features of many disparate apps into one.
Integrating with Zillow and Apartment.com, iManageRent lets you easily list new properties on multiple platforms. Set rent prices with rental property reports, track rent payments and lease agreements, and even screen prospective tenants through the platform.
The free version of the app provides many basic functions, including the capability to list units, track maintenance, and generate financial reports. The paid version, which costs $9.95 per month (for one unit) and up, adds the ability to automate invoicing, accept digital applications from tenants, and collect rent payments online.
Choose the Right Solution For Your SFR Investment Business.
There are nearly as many rental property management solutions for SFR landlords as there are tasks that can be automated. Whether you want a turnkey solution or would be happy with a low-cost (or free) app that takes over just a handful of tasks, the right solution can help you save time and increase revenue by allowing you to focus on the aspects of your investment business only you can accomplish, like buying the best SFRs to rehab and rent.
For more information about financing rental properties contact insource funding www.insourcefunding.net or 800-805-3391