If you own a property management business, you know how time-consuming it can be. However, there are some essential tools that you can use to help you manage your property better. These include text blitz, AppFolio, and Text Blaze.
Tenant Screening
When a landlord hires a tenant, it is crucial that he or she screen the applicant to protect the property’s value. The process takes about 48 hours. It costs money, but it can help to weed out bad tenants.
Some of the most common screening criteria that a landlord might consider include credit history. Landlords should not deny a prospective tenant based on a criminal record, but they can flag someone with a past eviction or a drug or violent record.
Landlords also must know the fair housing laws. These laws protect people who have been victims of domestic violence or stalking. They can request a protection order from a court.
The federal Fair Housing Act makes it unlawful for a landlord to discriminate against a tenant on the basis of race, gender, disability, familial status, or national origin. In some states, landlords can only refuse a prospective tenant if he or she has a history of a criminal offense.
Tenant screening is an essential tool that can save you thousands of dollars in carrying and repairs. It can also provide a full financial picture of a potential tenant. A tenant screening report can include a credit check, a bankruptcy search, an employment history, a sex offender check, a criminal background check, and an eviction history.
Many of the services that offer tenant screening also include client portals. These online tools let you upload and store documents, print out rental lease agreement templates, and set up custom templates to suit your needs.
A landlord can rely on a screening service to weed out potential tenants with criminal records. Some companies also provide reports that can reveal foreclosures, lawsuits, liens, and more.
Occupancy Statistics
Occupancy statistics are an important topic for property managers. Not only does it show how successful you are but it can also help you make strategic decisions about how to best monetize your property. The more you understand, the better equipped you will be. Having a good occupancy strategy can be the key to achieving your goal of increasing profits by a third.
One of the first things you should do is find out what is the occupancy rate of your rental property. A low rate means that your property isn’t being rented and you’re losing money, or at least cash flow. Fortunately, there are several free tools that will provide you with accurate and timely data on a regular basis. For example, you may be interested in the number of available rooms at your property or the average daily rate of your tenants.
The biggest challenge is making sure you are not wasting your time on data that isn’t relevant to your business. Occupancy is a simple metric that can be determined with the help of a tool such as the occupancy calculator. You can find the latest occupancy rate numbers on your favorite vacation rental website or directly from your local municipality. This is a small step in the right direction, but it’s one that you should take. With that said, the most important thing to remember is that the best occupancy numbers don’t come cheap. Keeping a close eye on your property’s vacancy levels will save you a ton of grief in the long run.
General Ledger
The General Ledger, or G, is an important tool for any property manager. It can help you maintain financial transparency, as well as save time and money.
The general ledger is a consolidated record of all transactions in a business. Each entry is typically grouped into categories. Examples of these categories include payments, receipts, expenses, and assets. In the context of a property management firm, the most relevant category is property. This includes both real estate and any land or other physical assets. A general ledger can also be used to calculate depreciation on property assets.
While a general ledger is a good start, it’s not enough to run your operation. If you don’t have dedicated staff, it can be difficult to maintain the records on your own. That’s why it pays to invest in accounting software. These programs can streamline your process and allow you to focus on your real business.
A reputable financial technology company such as Stessa offers a variety of tools for financial management. One of these is the Chart of Accounts. The Chart of Accounts is a great organizational tool, as it can help you keep track of your various financial accounts.
In the same vein, it’s a good idea to open a dedicated bank account. With a bank account in place, you can easily monitor your cash flow and make informed decisions about your business’s finances. You can also integrate your account with your property accounting software to keep track of all your transactions and receipts.
While the Chart of Accounts and the general ledger are the standard bearers, there are a number of other useful tools you can use. For example, a rent ledger is a good idea for tracking the amount of rent you receive, as well as the date it is due. JHW Enterprises is a Multi-Family Property Management in Mount Pleasant SC that has an array of tools like this that help make property management easier.
Text Blaze
If you are looking for an easy to use tool that will save you time and money, you might want to check out Text Blaze. You can get started with the free version. The software works with a desktop device and requires a stable Wi-Fi connection. For the full package, you’ll need to pony up for a Pro plan. There’s also an enterprise version for companies that need more than just the basic features.
Text Blaze is not for everyone. It is best suited for those with an existing workflow and an internet connection. This makes it a good fit for property management firms and businesses in the building, construction, and real estate industries.
A cursory scan of the company’s website indicates that it’s a relative newcomer. TextBlaze was started by two former Googlers, Scott Fortmann-Roe and Ben Barak. Their background in machine learning and artificial intelligence has yielded an interesting product. In particular, they developed a product that can create automated content.
Although Text Blaze offers a number of functionalities, its main selling point is automation. While you can manually create a new snippet, the automated one will make your life a lot easier. From standard greetings to canned responses, you can easily automate them.
One of the more impressive aspects of the tool is its ability to streamline complex processes, like sending and scheduling messages to multiple recipients. The aforementioned gizmo is also capable of integrating with other apps to further improve your workflow. The toolset comes with an array of nifty tools that can improve your workflow, including a smart email editor and an automated calendar.
Another nifty thing about TextBlaze is that it works across all major email systems, SMS platforms, and CRMs, which means that your entire team is always on the same page.
AppFolio
AppFolio is a cloud-based property management software that offers a host of features to help rental property owners. It is perfect for both single and multifamily properties. These features include the ability to market vacant units, send mass emails, send electronic payments, conduct bank reconciliations and manage leads.
The app is designed to make collecting rent easier and quicker. In addition, it gives you an easy way to check your tenants’ background and criminal history. Also, you can use the app to set up maintenance schedules and submit maintenance requests.
You can also pay your landlords and vendors directly in AppFolio. Moreover, you can conduct text message conversations with your tenants. Finally, the app allows you to list vacant units on rental websites.
AppFolio is also equipped with a marketing website. When a potential tenant visits your property, he or she can fill out a rental application. Once the application is accepted, AppFolio will automatically upload the lead to your database. You can also use the platform to schedule showings.
AppFolio’s mobile app can be used to record photos and videos of your property. You can also add descriptions, tag tasks for follow up and record fixed assets.
AppFolio also has an AI leasing assistant. This helps you decide which applicants are the most qualified. Moreover, the AI can handle data input and scheduling. Aside from that, it can help you turn quality leads into residents.
AppFolio’s Smart Bill Entry uses artificial intelligence technology to speed up the billing process. This feature can save you time and money. Moreover, you can make recurring payments for your tenants in a secure environment.
AppFolio has a variety of price plans. For example, the basic version is available at $0.80 per unit per month, while the Plus plan costs $3.00 per unit per month. But, keep in mind that you may have to pay more if you own a large portfolio.
Bitcoin 
Ethereum 
XRP 
Dogecoin 
Litecoin