Managing properties remotely without PM

[Yogesh Bhadane]

Hello BP,

I am curious if anyone is using Property Management Software/Services to manage their properties remotely.

1. If yes, what software are you using?

2. How do you manage tenant turnover and how do you show properties to prospective clients without the property manager onsite?

Thank you for your input.

[Nathan Miller]

@Yogesh Bhadane If you are managing remotely, PM software is going to be critical.  You'll need a way for tenants to pay either online electronically or locally with cash.  Most PM software platforms are going to accomplish this for you.  You can also look at solutions like ShowMojo or Tenant Turner for remote showings; however, doing remote showings does not come without risks.

There are a lot of posts on BP about software you can look back on to get more opinions, but here's some consolidated information:

Some of the most useful items BiggerPockets members have identified are features that save time so they can spend time working on their next property. These are features like online renter payments, tenant portal (for payments and work orders), help keeping track of work orders, tax reporting features, and accounting functionality. One of the most important steps you can take as either a startup landlord or seasoned one is to use a platform specific to property management as it will elevate your operation and save you tons of time.

The good news is that nearly every software designed for landlords includes these features. The differences between most software is subtle and may be how they bill for their service, support their product, or the process to use those features.

Here's some software options that you commonly see recommended on BiggerPockets.

The more mature platforms that are designed for landlords/property managers include Rentec Direct, Buildium, Appfolio, and Rent Manager. These platforms typically have billing policies where you pay a per unit fee per month to the software and you get regular updates and support each month.

There are a number of low-cost platforms available that are able to offer you a lower price by passing along some of the costs to your tenants (payment processing fees, applications, tenant screening, etc). These platforms include RentRedi, Stessa, Avail, Innago, Apartments.com (formerly Cozy), and TenantCloud.

Pretty much every platform mentioned contains the features you are going to need. It boils down to which platform's processes and support works best for you. The best way for you to figure this out is visit the platforms and explore their free trial (if offered). Run through some of the features you will need like setting up a property, moving in a tenant, receiving rent payments, and publishing online applications.

Pay attention to which platform feels the best to you as you perform these functions. Each platform does it a bit different and you are going to like some more than others. While trying it out, call their customer service and see how they treat you and how knowledgeable they are on their product. Ask their customer service to walk you through the above options if needed.

It shouldn't take more than a couple hours of research to try out the top platforms and identify which feels the best for you. Those couple hours of research will save you hundreds of hours of time down the line, so it's well worth the effort.