It is easy to list your single-family rental (SFR) or multi-dwelling apartment unit when you use a real estate app or website that sends your listing and manages your content. But how do you choose the right real estate investment software?
Your budget and the functionalities you need in a real estate investment software will influence your decision. Some real estate investment software act as customer relationship management apps, property management software, and even have accounting features, giving you the benefit of a turnkey solution. Others provide robust real estate listing services, but you will need other real estate software to manage your properties, track vacancies, and collect rent.
We found the following real estate software the best for real estate investors:
CREmodel
DealMachine
Rehab Valuator
RealData
Here are some aspects of real estate investment software you will want to evaluate before making your choice.
How Long Has the real estate investment software Been Around
Rental syndication software can save you time by sharing your apartment listing across a number of real estate sites where people search for available apartments. For this reason, the software’s network–the number of real estate sites where it places your listing–is the most important feature to consider. You’ll want a real estate app that syndicates your apartment listing to all the major sites. RentecDirect.com has one of the most comprehensive networks, as it sends your ads to places like Craigslist, in addition to all the top real estate websites.
Features for Real Estate Analysis Software
For instance, real estate investing software, Zealder.com, permits you to include YouTube or Vimeo videos of your rental property listings on their site. Some other rental syndication services only permit you to upload a single photo. If you are investing in multimedia technologies to promote your apartment vacancies, you will want a service that makes it easy to share the content you create.
Can prospective tenants apply directly through the software?
Some real estate services permit prospective tenants to apply for an apartment directly through the rental syndication platform and will even permit landlords to run credit reports and background checks for free and send a lease agreement that can be signed and returned digitally.
What additional features does the real estate software offer?
Some listing syndication services provide much more than just rental listings. Some services, like Cozy.co and RentecDirect.com, allow tenants to pay their rent or place repair or maintenance requests through the platform. Landlords can also screen tenants, track maintenance expenses and even connect the app to their bookkeeping software. Other solutions even focus on marketing, giving landlords a dedicated website for specific properties or the ability to send email blasts to promote new listings. If you are a growing investor seeking a robust property management solution, you may want to consider a solution that integrates accounting, property management, listing syndication, and marketing all in one.
Analyzing Investment Property for Real Estate Investors
Some rental listing syndication platforms allow you to share a limited number of real estate listings for free. Some offer monthly plans, while others allow you to pay-per-listing. Rentberry is one of the only real estate investor websites that uses blockchain cryptocurrency, called Berry Coin, to collect rent and pay for listings. If you prefer more conventional real estate payment methods, most sites charge a monthly fee based on the number of listings you want to promote and manage. When you’re pricing software, beware of hidden fees and upsells that could drive costs up beyond your marketing budget.
Just like spotting the best real estate investment properties, choosing listing syndication software requires market research and a keen eye on your business goals. Fortunately, today’s real estate technology solutions make it easier than ever to manage every aspect of SFR and MDU apartment rentals.