Monday 26 February 2018

4 Steps to Becoming a Great Landlord



Being a landlord has ups and downs, but experienced property management landlords find a few simple steps make it easier to do it well. When first starting out, Joe managed his single apartment unit casually without landlord software. He wasn’t sure that a lease was needed for one apartment and figured he could manage things as they came up. Well, after a few issues and many unexpected expenses, Joe made the choice to always have a lease agreement in place. He discovered how useful it was for both the tenant and himself to understand expectations. 

The more experiences you have as a landlord, the more prepared you are for things to come and to improve your tenant’s experience as well. You may be thinking there’s too much work involved in being a landlord. As experienced landlords share, a few steps can remove some of the hassles.
Whether you are a seasoned property owner, or a just starting out, below are a few steps to take to get on the path to becoming a good landlord.

1)  A lease? Always.
Whether you are like Joe with one property, or own several units, having a lease agreement in place is a must for property management. Lease terms help ensure both parties have an understanding of rental expectations. 

Lease terms matter too. A lease should include the basics like the duration of the lease, rent amount, deposit requirements and late fees. Other basics include identifying who is responsible for paying utilities, pet and smoking rules, and specifics about how many people can reside in the apartment, to state a few.

Less obvious lease terms cover expectations surrounding communication of issues with the apartment, how long guests are allowed, new tenant requirements, and more.
When developing your lease agreement, there are several online options. Review the basic terms, and add those that make sense for your unique property – just ensure they fit within the laws of your particular state.

When working with your prospective tenants, review the lease terms in person, and allow time to answer any questions or concerns. Ensuring your tenants understand the lease terms and your specific expectations will help avoid issues down the road – making it easier for both the landlord and the tenant.

2)  Great service providers.
To truly be a great landlord, you will need great service providers to quickly resolve issues raised by your tenants. Many new property owners do not have a network of providers to call upon for various issues. Ask contacts with properties to recommend service providers, or work with a few to determine over time which providers work best with you. 

Another option is to repair and fix minor issues yourself.  This may sound daunting, but if you are handy, and can attend to minor repairs yourself. This will save you a considerable amount of money in the long run. Minor repairs, such as replacing a toilet stopper or a garbage disposal can be done without much effort and many sites offer teaching videos to help the novice.
Seasoned property management landlords establish relationships with plumbers, painters and a handyman, who may consider providing discounts if you agree to use them exclusively across a set of apartments.  

By providing excellent service to your tenants, the hope is that they will be happy, and will stay longer, reducing your turnover.

3)  Electronic payments.
Wow is this one a time saver for everyone. When our new landlord, Joe, first started renting his first property to tenants, he thought rent payments would be easy. But he quickly learned that he did not want to spend his time checking the mailbox and driving to the bank to deposit the check. And after a payment was lost in the mail, Joe began researching landlord software options. As he managed more rental properties, property management software saved Joe even more time and effort. His tenants also love the convenience of paying rent online. 

With landlord software, such as Schedule My Rent, landlords and tenants save time and effort by using electronic payments. Landlords love that rent payments are automatically deposited into their bank account with no need to worry about lost payments. Tenants love the automatic payment reminders, and the ease of having their rent payment sent each month.


Schedule My Rent enables roommates to split rent payments easily, and enables tenants to approve all payments before the amount is moved from their account. 

When you collect rent online with Schedule My Rent’s landlord software, you are well on your way to becoming a great landlord.

4)  Personalization.
Success as a landlord does mean making money on your investment. A big factor in the amount of return on your investment as a landlord is avoiding unwanted turnover. When tenants move out, there is expense in repairs, cleaning, painting and upgrading, not to mention lost income with the vacancy. 

Most experienced landlords want to avoid turnover when the tenants are good tenants. One way to reduce turnover is to personalize the tenant experience. What does this look like? Spend time at the property and check-in with your tenants. Get to know them and create a connection. By getting to know your tenants and their needs, landlords can be familiar with how to make improvements to the property. It is also important to have someone at the apartment complex who can let you know if something unusual is happening while you are not there.

The few steps shared above can give even new landlords options to becoming a great landlord. When you provide a good experience for your tenants, with property management landlord software payments, effective leases, and personalization, you can avoid unwanted tenant turnover.

Wednesday 21 February 2018

5 Ways Landlord Software can Help Property Managers

As your business grows, so does the level of stress and time you need to track rent payments and manage properties. If you’re outgrowing your current system, you should consider landlord software designed specifically for property managers.

Here are 5 ways landlord software can help property managers manage their day-to-day activities:
  
1.  Helps Automate your business 
Many property management tasks are time-consuming. Landlord software that automates repetitive tasks such as collecting rent, sending tenant applications, managing property renewals etc. helps give back time to property managers to focus on something else. 

2.   Makes data and reports accessible 

To keep track of payments and reporting history is difficult. The automated system helps property managers plan their business and keep track of operations. Having data accessible also saves time to look for or file printed documents. 

3.  Supports Communication with tenants 

Effective communication is the key to keeping both property managers and renters happy. For effective communication, property managers need to be able to share information easily and receive feedback. Landlord software helps you create property manager and tenant portals that support communication. 

4.  Attract Your Ideal Tenant 

Screening techniques provided by landlord software helps property managers find qualified tenants. In return, eviction rates decrease saving property managers the cost of eviction and vacant properties. 

5.  Maximizes Rent 

Nowadays individuals are looking for property managers that are keeping up with technology. Today, renters want to occupy spaces where they can pay rent online, anytime and anywhere. Offering landlord software helps attract a good tenant and in return you can maximize rent. 

Property managers have an edge as there will always be individuals or business owners who need to rent. As you develop your property management business, turn to Schedule My Rent. Our landlord software will help you save time and money over time. Contact Schedule My Rent today to learn more about how our software can change the way you do business.

Wednesday 14 February 2018

The Pros & Cons of Collecting Rent Online

If you normally collect rent with cash or checks then collecting rent online can be a quick way to help save you time and energy as a property manager. Property managers who have set up online rent software to collect rent online have already secured the benefits. If you are thinking about landlord software, here are some pros and cons to keep in mind if you decide to finally collect rent online.

Pros:
  • Automatic payments and processes
  • Real time payments
  • Save time and energy as software collects and follows-up
  •  Easy to use software
  • Payments made anywhere anytime
  • Reliable record keeping
Cons:
  • Relying on 3rd party
  • Reduced control of collecting rent in person
  • Less face to face communication
  • Withdrawal bank fees (transaction fees)
Splitting Rent Payments
Another major perk of collecting rent online is being able to split rent payments with 2 or more roommates. This is convenient for the landlord but also for tenants as each renter can pay their fair share. 

Enforcing Collect Rent Online
As the property manager it’s your responsibility to spell out the rules on collecting rent. Schedule My Rent advises its landlords and property managers to enforce the collection policy in the lease agreement. Doing this, sets the expectation up-front and minimizes any miss-communications. 

Get Paid On-time
Taking advantage of online landlord software also minimizes the amount of late payments and missed payments. Our reports show that property managers that collect rent online also have improved relationships with their tenants. 

Conclusion: It’s an Overall Benefit
Adopting landlord software makes collecting rent online easier for both landlords and tenants. The benefits outweigh the cons when referring to collecting rent online. Accepting cash and checks are options for business exchanges in the past. Schedule My Rent is happy to provide a free demo including support and training to help property managers collect rent online. If online rent collection is something you’re excited about call Schedule My Rent today!

Tuesday 13 February 2018

How to find the Best Rental Property Software?

Schedule My Rent provides landlord software to collect rent online. We believe in innovation and simplifying the role for landlords and property managers. 

We understand that you have a variety of choices on the market when it comes to rental property software. Follow these guideline to find the best one for you:
  • Figure out what solutions you need most: This may depend on how many properties you have and what your goals for the program are. Are you looking to only collect rent online or are you also looking to manage properties, send forms and letters and complete your reporting.
  • Determine what is important to you: better reports, better data, or ease of use. You will want to consider how computer savvy you or your tenants are before deciding on rental property management software.
  • Narrow down the industry you’re in: Some rental property software will differentiate depending on commercial real estate or landlords.
  •  Tailored to landlords or tailored to tenants? You can decide which features you would like to see more of, depending on your goals and what is important to your business.

Why Schedule My Rent is the Best
Schedule My Rent Landlord Software is both easy to manage and use for property managers and their tenants. You can collect rent online, track due dates and manage tenants and properties from any computer device, anywhere and anytime!
What Makes Schedule My Rent Stand Out
  •  Easy to use for both Tenants and Landlords
  • Fully customizable software: make it your own
  • 30 Day Free trial period
  •  No setup fee
  • No long term contract
  • Reliable and patient customer service
Customer Reviews
Another way to determine the best rental property software is to take a look at their reviews online. Schedule My Rent has thousands of customer reviews on google and on our website. We enjoy hearing about customer success stories and how we are making a difference in our client’s day-to-day business. We use these reviews to constantly improve our software.

If you are a landlord or property manager and have questions about rental property software, call Schedule My Rent today. We can’t wait to work with you! 

Schedule My Rent
4801 Lang NE, Suite 110
Albuquerque, New Mexico 87109
Phone (844) 465-3339

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