Applications and Leases
Hello,
Does anyone have suggestions on the best way to disseminate applications, leases and other paperwork (notices and such)? Do you guys use paper copies for everything, or docusign, etc. Are there apps that help simplify all of this. Thanks!
Matt
There are many online landlord friendly options out there but shop around, some charge more than others. I have had good experience with Lease Runner for tenant screenings and rent collection when I self managed. I use a PM now that I am farther away. Definitely keep it as digital as possible and use a cloud storage for documents. I use OneDrive and Dropbox, then I keep some items in specific folders in my mailboxes for each property.
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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- Austin, TX
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
Keep everything online
There are a number of great property management software suites that do everything from publishing listings to online applications to screenings and background checks to rent collections, accounting, and maintenance - all under one platform. Buildium, Appfolio, and Propertyware are the big three.
Some now even include e-signature options so you don't need a separate subscription to Docusign or one of its competitors.
Digital recordkeeping is definitely the way to go, whenever possible.
But note that state laws often requires the "posting" or "serving" of hard copy notices for certain things (like pay or quit notices, non-renewals, and terminations). You can often leverage the services of a process server for these.
#2 Managing Your Property Contributor
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- Royal Oak, MI
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#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
@Matt Frazier everything we can do paperless, we do paperless!
Pretty much hate having to physically mail anything these days.
100% paperless here also. I made the switch about a year ago and I am sooo much better off. We use Docusign, our PM software and DropBox to store everything electronically. Good luck & happy investing!
Most property management software includes online applications, screening, and lease signing. You shouldn't have to print anything out or maintain a file cabinet.
Thank you guys. My plan is to use Google drive for online docs. What property management software has everyone used? I'm looking at Rent Redi, anyone have experience with that?
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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Use a third party screening company, I use go4rent. The applicant pays them and they request all documentation
#2 Managing Your Property Contributor
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#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
@Matt Frazier can't keep up with all the new PM software options!
WIth the "free" ones, just keep in mind that NOTHING is for free. They'll either bombard you with ads and email promotions or try to charge you ancillary fees elsewhere.
There are hundreds, probably thousands, of previous posts about this question.
We use AppFolio as a property management company. It is a great option for leasing depending on how many properties you have. It's $1.40 per unit / per month with a $280 a month minimum. We do use DocuSign for a few things that AppFolio does not provide functionality to but most is done through AppFolio.
If you're looking for a cheaper version with less properties, I've heard good things about RentRedi which is $9 a month if you choose the year plan.
Quote from @Drew Sygit:
@Matt Frazier can't keep up with all the new PM software options!
WIth the "free" ones, just keep in mind that NOTHING is for free. They'll either bombard you with ads and email promotions or try to charge you ancillary fees elsewhere.
There are hundreds, probably thousands, of previous posts about this question.
Monthly fees are a drain on profits if you have few doors to manage. Le.as.eRun.ner (<—why is BP editing this?) has no monthly fees, only a per door fee and the convenience fee for payments can be applied to the Tenant. No ads and once I made an account and set up payment acceptance, no additional communication was required. I did have to inform the tenant one time that they had to pay some late payment fees and they adjusted their payment accordingly. The program did not automatically do it.
I just use apartments dot com. it's been nice and easy and free. they never plug anything, and I manage all my docs there. I also use authentisign for electronic signatures on everything.
