As we set out to create our online property management software, Dina and I interviewed a lot of real estate investors. One point we heard consistently from other DIY Landlords is that they love being a landlord, but are uncomfortable having to hound tenants for rent. If you can relate to that statement, you should strongly consider automating the management of your rental properties.
How would automating my rental business benefit me?
You will realize the following benefits when you automate the billing and collection of rent:
- A software is billing for you (so you don’t have to make the calls).
- Invoices can be setup to include rent, monthly fees (pets, water, trash, etc.) providing transparency in billing
- Automatically bill for late fees
- Receive rent payments closer to the due date
- Bill for just the tenant responsibility when dealing with Section 8 / HUD
- Rent payments are automatically deposited in 2-3 days, saving you the trip to the bank
- Receipts emailed to your tenants upon payment
- One click by your tenant records and reports your transactions saving you time in the reconciliation process
Will introducing software hurt my relationship with my tenants?
If you are like us, we take pride in having strong relationships with our tenants. You might be thinking that having a software collecting rent will take the personal touch away from your business. We can attest that the opposite will happen. Having a property management software collecting rent for you, allows you to stop asking about money. As a result, your interactions with tenants become more relaxed.
Paying bills online is something that tenants are used to in every other aspect of their lives. Your tenants will appreciate the convenience of being able to do business from their smart phone or tablet.
Ready to start collecting rent online?
We would love to be your partner! Check out RentMindMe.com for more details. Our property management software provides an affordable, easy to use option whether you have 1 or 100 rental units.