Tenant turnover is a challenging period for landlords. Empty units don’t generate income, yet you still must make necessary repairs, clean units, advertise your property, and screen new tenants.
Acquiring new tenants is your number one priority during this time. Property management software can help you streamline this process so you can move in a new tenant as soon as possible.
With dozens of features, functions, and integrations, best property management software offers all the rental tools you need to quickly fill vacancies and start generating revenue. On-platform listing syndication, rental advertising, and tenant screening are all benefits of using a cloud-based digital management tool.
Here are a few steps for filling your vacancies using property management software.
Listing Syndication Software
Listing syndication is a popular feature of property management software. This feature allows you to upload a single listing to your software account, where you can then disseminate the listing to multiple listing sites at once.
Placing your ads on prominent listing sites such as Zillow and Apartments.com is crucial for accumulating applicants. Rental listing syndication helps you quickly and efficiently boost your online presence.
Property management software platforms integrate with a variety of listing sites. Some platforms will limit listing syndication to a few trusted partners. Others offer fifteen or more listing integrations. If your software platform doesn’t provide the integration you want, you can customize one through a third-party service or by writing it yourself.
Website and Social Media Integrations
After posting your listings, it’s time to generate some interest and attention in your properties. The best way to do this is to advertise your vacancies on your company website and corresponding social media accounts.
Some property management software platforms offer integrations for advertising purposes. For instance, on Buildium, you can use an integration called Goodjuju to link your company website to your software account. With this integration, it’s possible to coordinate your advertising efforts and transfer data between your website and software account.
Social sites like Facebook and Instagram are useful avenues to appeal to a wider audience. Through friend networks and connections, your rental business can gain momentum and build a credible reputation. With the organization of property management software, you can leverage your social media presence to fill your vacancies faster.
Tenant Screening
On-platform tenant screening is a major feature of property management software. Your software can generate instant and accurate credit and background checks. It also consolidates this information into a readable report you can quickly review and interpret.
Combined with your rental application (which you can upload and edit on your software), tenant screening reports help you make prompt but informed decisions about acceptances and denials.
Credit Checks
Some property management software platforms offer the option of automatic credit checks after tenants have submitted their rental applications. With this feature, half the work of tenant screening is already done by the time you open the report. You can effortlessly compare two of the most important criteria – income and credit history – the instant you receive an application.
Background Checks
Property management software platforms also integrate with services that offer background checks, such as the American Apartment Owner’s Association (AAOA). Depending on how the service obtains the records, they could be available almost instantly or may take a few days.
As a bonus, digital copies of criminal and eviction histories are easier to manage and dispose of once you’re done with them.
Online Lease Signing
Finally, when you’ve secured new tenants for your vacancies, property management software can help you write and sign the lease.
With online lease signing, new tenants are sent digital copies of the lease by email, which they can sign with an eSignature. Digital signatures are convenient and offer many security benefits.
For instance, eSignatures typically record the signer’s email address, physical location, and timestamp.
Online lease signing removes stress and frustration from traditional leases and maximizes convenience and productivity. You can sign leases faster and get your new renters moved in sooner.
Fill Your Vacancies with Property Management Software
With property management software, tenant turnover is not nearly as overwhelming as it would be otherwise. Tools for rental advertising, tenant screening, and lease signing make filling your vacancies only a few steps away.
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