How Property Management Platforms Are Making Things Easier For Landlords & Tenants

Do you know that the global property management software market size may reach $2.70 billion by the end of 2030? Well, the residential segment is fuelling this growth, and landlords are fully aware of this development. Moreover, among these software programs, cloud-based platforms are enjoying dominance in the market (market share-61.13 %) as in such a case, there is no cost of installation and affordability.

So, if you are a landlord and looking for property management software to increase your ROI, it is high time that you know the numerous ways; these platforms are making things easier for landlords and tenants.

Benefits for Landlords

• Attractive listing of your rental properties on its online platform. Such platforms also facilitate listing on popular property listing websites like Zoopla, Rightmove, Primelocation, and Gumtree.
• Thorough background check for selecting the right renters via trusted screening programs. It is vital to remember that poor quality tenants can make your life hell by late rental payments, causing intentional or unintentional damage to your property, creating excessive noise, and in the worst case having a criminal record! It also gives information about whether your rental applicants are in debt or not to have a brief understanding of their current financial situation. A thorough tenant screening can also save you from any legal issues(if any).
• Easy access to powerful tools for creating rental agreements, bookkeeping, and automatic collection of rent. Some property management platforms also offer tools for easy chatting with your tenants and hassle-free maintenance of your property.

Benefits for Tenants

• Easy property search and quick application for rent with confidence
• Seamless tracking of rental payments and safe storage of rent agreement
• Availability of smart tools for quick screening of landlords to help in making an informed decision
• Facility to set up a wishlist to find a property as a tenant
• Tools for easy management of rental payments
• Setting up a direct debit system if the landlord’s preference is an online payment
• Monthly update of the rental invoice for keeping track of invoices
• Easy communication with the landlord without revealing phone number or email address
• Notifications about due rentals, repair requests, rent agreement renewal requests, etc.
• Facilitates communication with a handyman for quick repairs

Thus, property management platforms are advantageous for landlords like you and rental applicants. Built by a UK-based company, RentOnCloud is a similar property management platform that is user-friendly. The cloud-based platform uses blockchain–powered Zypass screening to ensure accurate background checks in a few seconds. It also helps you to go paperless with its built-in digital sign tool that empowers your tenant to sign the rent agreements digitally from any device.