All Forum Posts by: Jasmine Delves

Rent collection through property management software. You can automate rent collection, late fees, reminders, etc. That way, you can also take advantage of additional features like tenant screening, income and expense tracking and maintenance tracking.

Are you looking for any other features or is it just rent collection you want to automate? There are lots of great options out there that will also allow you to screen tenants, track your income and expenses, track maintenance, etc.

@Matthew Cervoni yes, there is a partner program for accountants!

Great tip! The other added benefit to using property management software (rather than general accounting software like Xero or QB) is that you can take advantage of additional features like online rent collection, tenant screening, maintenance, etc. This, along with the ability to scan receipts, track income and expenses by property and generate reports is a game-changer!

Instead of using (and paying for) different programs, you can streamline your processes by using one software. 

Another option is to use property management software that has built-in rental accounting features. 

You can track your income and expenses by property, generate reports, scan receipts, link your bank feeds, track mileage, etc. 

There are lots of great options out there. You can narrow it down a bit by determining which features you are looking for. For example, some software has built-in rental accounting but with others, you have to pay extra. Some have built-in tenant screening and others allow you to automate late fees.

Many have free trials so you can try them out before you commit. Then once you have decided, most of them should scale easily with your projected growth.

Some purpose-built property management software is integrated with general accounting programs like Xero or QB so it's worth looking in to. 

Then that way, as well as managing your accounting and taxes, you can take advantage of additional features like online rent collection, tenant screening, maintenance requests, etc.

As for where to find more reviews, you can search for Property Management Software in the forums to see other discussions!

What are your main priorities in terms of features? This can help narrow down the list too, as there are lots of options out there. Some are better for rental accounting than others, for example.

There are lots of great options out there. I'd start by thinking about which features you prioritize (this could be tenant management, online rent collection, rental accounting, etc.) and then narrow it down from there. There are quite a few good discussions on here if you do a search for property management software. 

Some software offers free plans or trials as well, so you can try them out before you commit.

It's a good idea to make a checklist that clearly outlines your renting criteria. It should highlight your minimum requirements for a tenant. This could include:

Their expected minimum earnings
What their minimum credit score should be
Your policies on smoking and pets
Your policies on eviction records

It's a good idea to meet tenants in person for viewings, as this will allow you to get a better understanding of who they are.

Then of course, as you have said, you should conduct a thorough tenant screening check that will tell you their credit score as well as criminal and eviction history.