With single-family homes you have twice as many customers – Tenants and Owners. Single-family property management software, like Rentables, can simplify your job in ways generic property management software just can’t.
Focus on Your Owners
As a manager of single-family rentals you have nearly as many owners as you do tenants. Multi-family, on the other hand, usually has 10s or 100s of tenant with a single owner.
For that reason, you need single-family property management software that helps you address the needs of your many owners: getting their monthly proceeds to them quickly and keeping them informed about any unexpected expenses.
Single-Family Rental Owners are Different
Multi-family housing (apartments) is generally owned by investors who are sophisticated with well-planned finances. Many single-family rental owners are accidental landlords. They kept their previous house as a rental because they couldn’t sell it or, maybe, because they were underwater on the mortgage.
Owners of rental houses often rely on that rent payment to pay their mortgage. Their finances can be month-to-month. If rent is late they are left scrambling trying to figure out how they are going make that month’s mortgage payment.
Owners need their money fast and they need to be informed. Your software should make these things easy!
The Right Technology Can Help
Rentables is designed to grease the wheels on the monthly rent cycle while giving you the robust accounting records you need. For instance, when a tenant pays online you get a notification and the accounting entries are made for you automatically.
Your owners can see from their portal when/if rent was received in real-time. When those funds settle you can immediately pay the owner by direct deposit. All the accounting and ACH transfers are handled seamlessly behind the scenes.
Take the Next Step
If you’re not using software designed for single-family property management then you should consider a switch. The right technology can save you time, money, and from having to deal with frustrated owners. 45-Day Free Trial.