The world of managing rental properties is changing. Technology is making the process more efficient and providing a better experience for rental property owners and their tenants. Services like RentalRiff can provide peace of mind for rental owners and unparalleled support for tenants.
If you are a landlord looking to create a well-oiled rental machine, you’ve come to the right place. The combination of hiring a RentalRiff property specialist and using a landlord software solution will not only save you a lot of money but will also create a fantastic experience for your tenants - we all know the value of retaining good tenants (more on that below).
Many landlord software solutions exist. Some of them are free for landlords and some charge a small monthly fee. These solutions will provide an easy way to post your rental on several rental listing websites (apartments.com, rent.com, Redfin, etc.). Landlords also use these software services for screening tenants, electronic tenant applications, and collecting rent. The actual maintenance and support required at the property level can’t be solved with software - this is where RentalRiff comes in.
Hiring a RentalRiff property specialist provides tenants (and rental property owners) a direct line to a licensed/insured contractor who is dedicated to the property. If the kitchen sink is leaking the tenants reach out to their property specialist who comes over and makes the fix. No coordination or intermediary is necessary. Tenants know and trust their property specialist, as does the property owner. It’s a win-win all around.
Here are some great landlord software services to check out:
As a rental owner focused on the bottom line, there are obvious savings here when compared to hiring a property manager. But perhaps the biggest value-add is providing tenants with a simple process and a great support system. And this directly translates to increased net operating income - here’s how:
If your tenants don’t feel supported or prioritized, they are significantly more likely to go find a new rental when their lease is up. According to a recent JTurner study of 39,000 residents, 35% of unsupported and unsatisfied residents moved out (specifically maintenance issues, poor communication, unkept properties, and no justification for increased fees or rent). If your tenant agrees to sign another lease you avoid the lost rent due to a vacant property, you avoid any potential cost associated with re-listing your rental, and you don’t lose the significant amount of time it takes to find and facilitate new tenants. All of this quickly adds up to thousands of dollars and many hours lost in a short time.
Of course, there are many reasons why tenants move out. But by controlling what you can control and creating a great experience and support system for your tenants, your profitability will increase over time.
As always, we’re happy to chat and provide our recommendations for landlord software solutions anytime. Happy landlording!