Managing properties remotely without PM

Rental Property Investor · Fairfield, CA · Member since 2019 · 54 posts · 8 votes

Hello BP,

I am curious if anyone is using Property Management Software/Services to manage their properties remotely.

1. If yes, what software are you using?

2. How do you manage tenant turnover and how do you show properties to prospective clients without the property manager onsite?

Thank you for your input.

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Nathan MillerPro Member

Property Manager · Grants Pass, OR · Member since 2009 · 429 posts · 201 votes

@Yogesh Bhadane If you are managing remotely, PM software is going to be critical. You'll need a way for tenants to pay either online electronically or locally with cash. Most PM software platforms are going to accomplish this for you. You can also look at solutions like ShowMojo or Tenant Turner for remote showings; however, doing remote showings does not come without risks.

There are a lot of posts on BP about software you can look back on to get more opinions, but here's some consolidated information:

Some of the most useful items BiggerPockets members have identified are features that save time so they can spend time working on their next property. These are features like online renter payments, tenant portal (for payments and work orders), help keeping track of work orders, tax reporting features, and accounting functionality. One of the most important steps you can take as either a startup landlord or seasoned one is to use a platform specific to property management as it will elevate your operation and save you tons of time.

The good news is that nearly every software designed for landlords includes these features. The differences between most software is subtle and may be how they bill for their service, support their product, or the process to use those features.

Here's some software options that you commonly see recommended on BiggerPockets.

The more mature platforms that are designed for landlords/property managers include Rentec Direct, Buildium, Appfolio, and Rent Manager. These platforms typically have billing policies where you pay a per unit fee per month to the software and you get regular updates and support each month.

There are a number of low-cost platforms available that are able to offer you a lower price by passing along some of the costs to your tenants (payment processing fees, applications, tenant screening, etc). These platforms include RentRedi, Stessa, Avail, Innago, Apartments.com (formerly Cozy), and TenantCloud.

Pretty much every platform mentioned contains the features you are going to need. It boils down to which platform's processes and support works best for you. The best way for you to figure this out is visit the platforms and explore their free trial (if offered). Run through some of the features you will need like setting up a property, moving in a tenant, receiving rent payments, and publishing online applications.

Pay attention to which platform feels the best to you as you perform these functions. Each platform does it a bit different and you are going to like some more than others. While trying it out, call their customer service and see how they treat you and how knowledgeable they are on their product. Ask their customer service to walk you through the above options if needed.

It shouldn't take more than a couple hours of research to try out the top platforms and identify which feels the best for you. Those couple hours of research will save you hundreds of hours of time down the line, so it's well worth the effort.

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Allan Smith
Contractor · Nashville, TN · Member since 2014 · 1k+ posts · 1k+ votes
3y
My virtual assistant manages our portfolio. The portfolio is close to me, but she will hire local vendors for doing inspections, putting signs in the yard, hanging lock boxes and so on. So we are running the portfolio virtually. We use buildium but there's many options.
0 Reply
Yogesh BhadanePro Member
OP
Rental Property Investor · Fairfield, CA · Member since 2019 · 54 posts · 8 votes
3y
Quote from @Allan Smith:

My virtual assistant manages our portfolio. The portfolio is close to me, but she will hire local vendors for doing inspections, putting signs in the yard, hanging lock boxes and so on. So we are running the portfolio virtually. We use buildium but there's many options.

Thank you for your response. How much do you pay?
0 Reply
Michael SmytheBusiness Member
Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
3y
Your success will actually depend on the Class of the Property/Tenants.
Class A can be done remotely fairly easily
Class B requires a decent amount of knowledge
Class C & below - you'll get eaten alive before you know it.
What do you want the software to do?
Probably rent collection, track tenant balances, hopefully track maintenance and repairs, etc.
How many units do you have? Most software packages require 50+ units to be cost effective.
For smaller portfolios you can try RentRedi - free with BP Pro membership.
Logical Property Management4.9453 Reviews
Website View Page
1 Reply
Nathan MillerPro Member
Property Manager · Grants Pass, OR · Member since 2009 · 429 posts · 201 votes
3y
@Yogesh Bhadane If you are managing remotely, PM software is going to be critical. You'll need a way for tenants to pay either online electronically or locally with cash. Most PM software platforms are going to accomplish this for you. You can also look at solutions like ShowMojo or Tenant Turner for remote showings; however, doing remote showings does not come without risks.
There are a lot of posts on BP about software you can look back on to get more opinions, but here's some consolidated information:

Some of the most useful items BiggerPockets members have identified are features that save time so they can spend time working on their next property. These are features like online renter payments, tenant portal (for payments and work orders), help keeping track of work orders, tax reporting features, and accounting functionality. One of the most important steps you can take as either a startup landlord or seasoned one is to use a platform specific to property management as it will elevate your operation and save you tons of time.

The good news is that nearly every software designed for landlords includes these features. The differences between most software is subtle and may be how they bill for their service, support their product, or the process to use those features.

Here's some software options that you commonly see recommended on BiggerPockets.

The more mature platforms that are designed for landlords/property managers include Rentec Direct, Buildium, Appfolio, and Rent Manager. These platforms typically have billing policies where you pay a per unit fee per month to the software and you get regular updates and support each month.

There are a number of low-cost platforms available that are able to offer you a lower price by passing along some of the costs to your tenants (payment processing fees, applications, tenant screening, etc). These platforms include RentRedi, Stessa, Avail, Innago, Apartments.com (formerly Cozy), and TenantCloud.

Pretty much every platform mentioned contains the features you are going to need. It boils down to which platform's processes and support works best for you. The best way for you to figure this out is visit the platforms and explore their free trial (if offered). Run through some of the features you will need like setting up a property, moving in a tenant, receiving rent payments, and publishing online applications.

Pay attention to which platform feels the best to you as you perform these functions. Each platform does it a bit different and you are going to like some more than others. While trying it out, call their customer service and see how they treat you and how knowledgeable they are on their product. Ask their customer service to walk you through the above options if needed.

It shouldn't take more than a couple hours of research to try out the top platforms and identify which feels the best for you. Those couple hours of research will save you hundreds of hours of time down the line, so it's well worth the effort.

2 Reply
Yogesh BhadanePro Member
OP
Rental Property Investor · Fairfield, CA · Member since 2019 · 54 posts · 8 votes
3y
@Michael Smythe Thank you for your response.
I have <5 units. My only concern is how do you use these services when time comes during tenant turnover like: who would inspect and who would do the showing for the potential tenants.
0 Reply
Yogesh BhadanePro Member
OP
Rental Property Investor · Fairfield, CA · Member since 2019 · 54 posts · 8 votes
3y
@Nathan Miller
Thank you for the detailed information!
Do you know if any of these services would send some one to physical inspect the units and send out reports, pics etc?
0 Reply
Yogesh BhadanePro Member
OP
Rental Property Investor · Fairfield, CA · Member since 2019 · 54 posts · 8 votes
3y
@Michael Smythe
Mine are all B+ properties. I hardly get any calls for any repairs. Most of them
are brand new.
0 Reply
Nathan MillerPro Member
Property Manager · Grants Pass, OR · Member since 2009 · 429 posts · 201 votes
3y
Quote from @Yogesh Bhadane:

@Nathan Miller
Thank you for the detailed information!
Do you know if any of these services would send some one to physical inspect the units and send out reports, pics etc?

Those services are more for automated showing (through lockboxes) than inspections. I think for inspections you probably really need to consider hiring a local property manager in the area, even if all they do is the inspections on your behalf.
1 Reply
Michael SmytheBusiness Member
Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
3y
@Yogesh Bhadane software doesn't connect you with boots on the ground!
That's a separate issue.
There are small landlord support companies like Hemlane you may want to check out.
Logical Property Management4.9453 Reviews
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Matthew MorrowBusiness Member
Investor · PA - NY - NJ · Member since 2019 · 458 posts · 168 votes
3y
We have several LLCs with varying partnership structures, but we manage it all remotely having ownership interest in each entity.
Combination of google voice & grasshopper virtual numbers to menus to sort communications, apartments.com for collections and document sharing. Local contractors connected to the MX end in case of emergencies. Its been working great for several years now.
[email protected]484-791-6200
CORE Team | Realty ONE Group Supreme547 Reviews
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Tricia O'Brien
Investor · Anchorage, AK · Member since 2015 · 267 posts · 76 votes
3y
@Matthew Morrow
What do you mean by "Local contractors connected to the MX"? Who do you use for local people to manage / supervise the local contractors if they are working on a vacant property? Thanks in advance!
0 Reply
Matthew MorrowBusiness Member
Investor · PA - NY - NJ · Member since 2019 · 458 posts · 168 votes
3y
We use our management team with virtual phone numbers. After hours they’re directed at the contractor themselves for emergencies. (With the permission of them of course)

Quote from @Tricia O'Brien:

@Matthew Morrow
What do you mean by "Local contractors connected to the MX"? Who do you use for local people to manage / supervise the local contractors if they are working on a vacant property? Thanks in advance!

[email protected]484-791-6200
CORE Team | Realty ONE Group Supreme547 Reviews
Website View Page
0 Reply
Tricia O'Brien
Investor · Anchorage, AK · Member since 2015 · 267 posts · 76 votes
3y
How do you know if the contractors are ripping you off? If the management team never goes to the properties in person, how do you know if the contractors are ripping you off or stealing materials or doing poor quality work when it is vacant?
0 Reply
Yogesh BhadanePro Member
OP
Rental Property Investor · Fairfield, CA · Member since 2019 · 54 posts · 8 votes
2y
Thank you all for the information. This is greatly appreciated!
I would be interested in connecting with some like minded Investors who are successfully able to manage their properties remotely without a PM.
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