How We Chose the Best Lease Management Software
Lease management software can often be tricky. Choosing the best software that fits the type of units being rented is crucial to ensuring ease of day-to-day operations. For example, a single-owner complex may not need support for REITs. Likewise, larger real estate investment companies may need more robust features than a business that only owns 20 units. When choosing the best lease management software, we focus our attention on three key areas that any good lease management software should have.
Lease Management Features
Something as simple as having tenants successfully complete a lease signing can be cumbersome without a powerful system in place. Many software systems contain digital lease signing or cloud document storage to allow for lease completion anywhere a potential tenant may be.
Types of Leases
Some of the best appointment scheduling software comes with built-in integrations for common programs that are often used alongside scheduling applications. That can include tools such as email, videoconferencing, and invoicing software.
Residential leases have a different set of requirements than commercial leases. Other important pieces of the lease management puzzle need to be addressed as well, such as HOA and CAM fees or background checks.
A powerful reporting system is critical to knowing when leases are expiring and which tenants have or haven't made rent payments and also allows for easy tracking of outstanding maintenance requests.