Property Management Software

  Most states have rules regarding handling security deposits. Some states prevent allowing the security deposit to be used as the last rent. You should not mix security deposits and rent monies. Commercial property management software will have the ability to keep deposits separate from all other monies. Best property management software will allow you to create separate bank accounts so that deposits can be kept separate from the main operating account. Property managers should never agree to apply the security deposit to the last month’s rent. For one reason, what happens if the tenant damages the property? Property managers that use a property management app will typically conduct a ‘move out’ inspection . If there is damage that costs money to fix, you may be out of luck if you did not collect the last month rent. Legally, there are laws/rules that dictate how you handle the disbursement of the tenant’s security deposit. It will also make it a bit more com...

Being a real estate landlord or professional property manager has it’s challenges. One of which is the leasing of a rental property. In this article, I will highlight the overall process then when it gets to the lease, I will go into some of the key elements you should have in any lease. First is the high level overview View Available Rental Properties –Most renters will want to walk the property before deciding to lease or not. In some cases, someone may not have that option (such as job move). Viewing the property is an important step to make sure that the property will meet their needs and tastes. Online Rental Application –next step is to complete an application. If the landlord is using a property management software, the application can usually be completed online by the applicant. An online application will save the landlord time and make this step a bit easier. Background Screening – Assuming the application is acceptable, the next step should be ru...