Technology

Income Producing Properties Require Management

Investing in income producing properties is not a passive thing, it requires active management. It is no secret that technology is changing how property managers conduct business. From a landlord of a single tenant home to property managers of nationwide investment property portfolios, there are many basic tasks that need to be done and now they can be streamlined Online.

  • Online Rental Applications and Credit Reports
  • Online Move-In/Move-Out Inspections
  • Online Property Management Software

We may be in the digital age where online listings help homebuyers find a great property at a great price through a listing database, but that isn’t the only way technology is changing the real estate game.

Enter real estate property management software.
From rent and vacancy tracking to contract and insurance management, real estate management software solutions help you maintain and organize payments, tenants, and even craft your own property website.

With real estate software, you can go from managing a few properties to more than 50 while remaining organized and aware of what’s happening at each.

There are plenty of real estate management tools out there; Capterra’s directory has more than 200 products. It can be overwhelming and time-consuming to sort through these options on your own. Sometimes the best way to get started is to check out what others are buying to determine what these solutions can offer you.

I’ve highlighted one of a dozen popular real estate property management software solutions. This is not and endorsement, just a snap shot of a software solution for property management. If you are an investment income investor you should consider this type of tool to help you manage your income property investments.
360Workplace for Commercial Real Estate by Accruent
360Workplace functions as a suite of systems (offering facility maintenance management, space management, construction project software, and lease administration) for those looking to manage real estate with more than just a single solution.

Pros
Users can monitor important assets and inventory, track vendor interactions, observe construction goals and schedules, estimate expenses and ensure tax compliance. There’s no cap on the number of users and the platform is cloud-based, meaning users can access 360Workplace anywhere with an internet connection.
Cons
360Workplace is built with corporate real estate in mind, so smaller businesses seeking a more customized solution should look elsewhere.