Landlords include property owners and those hired to manage properties. Some live onsite, and consequently, they can be called upon to deal with building or tenant issues day or night. Others may look after several properties in different locations, and they’re required to travel frequently.
In order to be efficient, they need effective strategies to balance their duties and time. Advances in technology have made it possible for landlords to perform tasks and access information quickly, helping them manage their schedule to save both time and money. Read on for more information.
What landlords need to know
Landlords must be aware of the laws that govern rental agreements. Those who look after residential properties, such as apartments, must follow both federal and state laws that apply to residential rental agreements. Those who oversee commercial properties have different rules that apply, and can even have different types of contracts with different stipulations in their agreements.
Rights & Responsibilities
Landlords need a clear understanding of their rights and responsibilities. Those who own the property they oversee are responsible for making some decisions themselves, but those who are hired to maintain a property may also have their duties and choices impacted by terms and conditions set out by the property owner.
For example, a business may have a contract in place with specific repair companies and be required to use their services for specific issues. Others may need to get authorization for some actions. In the event that a prospective tenant wants to negotiate specific contract details, the landlord may have the ability to agree to changes, or they may be required to get approval.
Landlords also need to have a lot of specific information available to them. They need to know when leases expire. They need to know when new tenants are scheduled to move in. They should be aware of existing warranties for items they provide to tenants, such as appliances, or systems within the structure that they must maintain, such as heating and air conditioning units.
They should be aware of the maintenance schedule for any equipment they are responsible for and for the building itself. Landlords should also know what assets they have on hand to prevent duplicate purchases. For example, a landlord should know if there is a lawnmower stored at a rental property or if a crew that brings their own must be hired to maintain the lawn.
How Landlord Software Helps
Since landlords are required to have a wide range of knowledge about different types of properties and laws (both state and federal) and to manage multiple schedules to ensure properties are maintained and rented, they can benefit greatly from free landlord software that helps them with their duties.
Features of Landlord Software
This software can be used to help them create listings when they have property available. Another advantage is that it can be used to create rental applications that help landlords process applicants as quickly as possible. This type of software can also be used to identify potential credit issues, criminal charges, or other details that may affect a landlord’s decision to rent to a prospective tenant.
The advantage of Landlord Software
Landlords can also take advantage of landlord software to track payment due dates from tenants, lease renewal dates, and manage maintenance and repair schedules. It’s possible to see lease details with the click of a button, so landlords managing different types of properties never need to worry about relying on their memory or pulling up a paper file.
The ability to find information quickly ensures that landlords can respond to issues promptly, work with the right information, and give advance notice when there are things they need to schedule. This helps ensure that building and equipment maintenance won’t slip through the cracks.