Should I create a custom website if I'm using Prop Mgmt software

Question

Newbie here: My wife and I are closing on our first property (condo) that we'll be renting out. We will most likely be using QuickBooks online for accounting, and either Cozy, Avail, or RentRedi for property management. What are your thoughts about additionally creating our own company website as the "home page" for current and prospective tenants? Or do these property management tools do a good enough job on their own?

If you have your own websites, can you post their URLs in replies, so I can see some good examples?

I'm thinking that our site would want to have links to items such as:

- Available properties to rent
- Property 1 info
- Property 2 info
- Property 3 info

- Prospective Tenant Info and Tools
- List of Minimum Qualification Standards
- Prescreen Application Questionnaire
- Online Application (possibly hidden link; only provided if they pass the presscreen)

- Tenant portal (links to Prop Mgmt tenant portal site)

- About us
- About the company
- Contact info (phone, email, PO Box/address)

Drew Sygit · Answer

If you're only going to buy 1 a year, doubt it's worth a website. Create a Facebook page and that will be good enough.If you grow faster and really need one in 3-5 years - the tech landscape will have changed so much and probably for the better. So, low risk waiting.Some other ideas:1) Put all your docs and data in the cloud. Either Dropbox, Google Drive or Micrsoft One Drive. BONUS: Dropbox bought HelloSign, so now it's integrated into Dropbox and you can do 3 docs/month for free.2) If you do Quickbooks, use online version, which is also in the cloud.3) While Google Docs is nice to use (and free), prefer Word because you can use the Developer tool to make locked forms that you can easily tab through to fill out only the areas/fields that change. You can also use a Word tool that copies the text you enter throughout the document. Great for leases! If you go the Word route, sign up for $9.99/month online version and you always have the most up to date version.4) For tenant MoveIns: have the tenant fill out their MoveIn Checklist, then video them pointing everything out on their checklist. Some tenants like to play games about damages and what they wrote on the checklist. A video makes 99% of that go away.5) Create an editable PDF rental application you can email to prospects. Fewer and fewer have ready access to printers, so filling out online or from their phone makes the process go faster.Good luck!

Tracy Scanlon · Answer

A couple things to add to the great advice here:1. Factor the cost of Quicken or QuickBooks into your budget - the costs can add up. 2. A website gives your business gravitas: It lets people know you are a serious professional. I've had renters reassured after looking at my website, able to tell I had been in business a while and I wasn't going anywhere. 3. If you are going to do E-Leasing without a property management software, DocuSign will let you do up to 5 without a paid subscription.All the best!

Cam Harris · Answer

Hey Ron - congrats on closing on your first property!If you’re planning on acquiring more, I definitely think it’s worth it to have a website. Not only does this help organize all the marketing AND logistical information for prospective tenants, but it can also be used as an inbound growth source. Think about it...Sure, you can feature your properties and provide information to tenants, but you can also build a brand and grow your SEO presence with some highly relevant blog posts and content. Imagine building a list of prospective tenants you can turn to anytime you acquire a property!

Simon W. · Answer

If you need any help, accounting is my forte. You can always create a website even if it is setting simple. But remember to calculate the cost of running a website to your budget.

Craig Bellot · Answer

Congratulations on your first property deal, @Ron Skoletsky! As an agent you will need to begin building your identity as a trusted advisor in home sales and purchases. I would begin with a Facebook page. With social media, or any other type of marketing you need to understand VRIN scores: V stands for value. R stands for rarity or how rare it is. I stands for inimitable and N stands for non-substitutable. Value means you are giving your followers what they are interested in. Your posts need to be reaching your audience's values. I know my audience values growing their wealth safely, so I create content that shows how we do that. People value the payoff of real estate and investing, so I post my numbers, analysis and all the great tips that my businesses have profited from. Rarity is how many other accounts are out there posting similar content. The more content that you provide that not many people get to see, the more excited people will be when they see it. It’s common sense. Rarity is the amount of emotion that people get when they see your post. Inimitable means your post is hard to recreate. It means that not only is it rare, it’s unique and genuine. People can tell when what you’re posting is trying to be like someone else. You have to be unique, so others can’t reproduce what you’ve created. Non-substitutable is similar to rarity, but it also means that what your posting is relatively impossible to be replaced by something new. You need to create timeless content, so as time goes on, your post is still relevant. If you master these, your business will grow and you will create a loyal audience, because you understand why your audience follows you and engages with you. Let me know if you have any questions! -Craig

Ron Skoletsky · Answer

Thanks, Drew! (And everyone!) Great tips!

Ron Skoletsky · Answer

We're flip flopping between managing the property ourselves, versus having a property management company do it. We've spent about 6 hours walking through Brandon and Heather's "Managing Rental Properties" book - documenting in detail the steps we need to take. We'll probably do this first unit using their processes, plus Quicken or QuickBooks. I can get carried away and get excited about putting the whole package together - website, PM and accounting tools. :-) I probably need to tone things down first this first unit.

Cameron Tope · Answer

Hey Ron,We use Buildium but it can be expensive for someone with just one or two units. Are you planning on leasing the property yourself? If you aren't then I don't think a website is necessary.

Ron Skoletsky · Answer

Thanks, Simon. :-) I'm probably getting ahead of myself. :-) We'll see how this first one goes. We plan on purchasing another rental next year (condo, SFH, or multi-unit... TBD). Maybe then... :-)

Simon W. · Answer

I am not sure if we are allowed to post our urls, but you can visit my personal page and view them there. A website for your needs, doesn't really a fancy website since are just going to do the 1 condo, at least not yet.