Property management made easy! Learn about these online tools!
Manage your rental properties online with these great tools.
Are you a landlord or property manager?
Do you accept online rental/credit applications, conduct your background checks online, and take rent payments online?
If not, why not?
This is the age of E-Everything.
Your tenants are used to paying bills and conducting business online. As a landlord, it is your job to make it EASY for your tenants to PAY YOU!
Many online property management tools have popped up over the last few years, and new ones arrive daily. Several of them are free or very low cost for the property manager, with fees averaging about $2-$3 per transaction. The renter often pays any processing fees for rent payments, rental applications, and credit checks.
Online Property Management Tools
Side by Side Comparison Chart
|Rental App online?||Screening & credit checks?||Accept
|Is there an App for that?||Notable:|
|LeaseRunner.com||Yes||Yes||Yes||Optimized for mobile use||Offers lease templates, e-signing, autopay for tenants|
|Not Sure||Reports rent payments to credit bureau|
|Cozy.co||Yes||Yes||Yes||Coming soon||Offers free property listings|
|Rentshare.com||No||No||Yes||Yes||Allows roommates to divide cost of rent|
|Appfolio.com||Yes||Yes, $$||Yes||No||For managing many properties|
|Propertyware.com||Yes||Yes||Yes||Yes||For managing many properties|
|RentPayment.com||No||No||Yes||Yes||Specializes in making it easy to pay rent|
An overview of several online property management tools:
LeaseRunner offers a free digital rental application form that prospective tenants can complete on a computer or smart phone. They also offer four different tenant screen options, for an additional fee. These reports include: Credit report, criminal report, financial report, and eviction report. The prices vary and can be paid by either the landlord or the applicant. An e-signature service is also offered for a bit extra.
Renters can pay online or set up automatic payments for $3 per transaction. This cost can be paid by either landlord or tenant.
LeaseRunner offers lease templates that will automatically populate with your tenant’s data and lease terms. The site claims they have a comprehensive library of lease documents for all states in the U.S., and that they always comply with the Fair Housing Act.
Property managers are provided with free online rental listing ads, complete with an “Apply Now” link that takes prospective tenants right to an online application.
All of the above services are charged per transaction, with no monthly fees. It would appear that they do not require setup fees or contracts, either.
At eRentPayment.com, property managers can accept online applications for a rental property. They can also accept one-time and recurring online payments.
eRentPayment.com will help tenants build a credit history by reporting rent payments to Trans Union.
The renter submits online payments, and can even set up recurring payments to be processed automatically. The payment is then deposited into the landlord or property manager’s bank account.
If you have weekly recurring payments, the fee is $2 per transaction. For one-time payments, and monthly or biweekly recurring payments, the fee is $3 per transaction. The renter or the landlord can pay these fees. They can even split the fees, if they want.
There is no monthly, activation, or setup fees, so landlords can register with the service and avoid upfront costs. The site claims there are no hidden fees. No contract is required.
You can direct that late fees be charged when the rent payment comes in late. A monthly email can be set up to provide reminders to tenants on certain days of the month.
This service does not offer tenant screening or credit checks.
Cozy.co (not .com) has a wide variety of property management tools.
Property managers can create a listing and list their properties online. They can also accept online rental applications, and Cozy offers screening tools such as credit reports and background checks.
There is no limit to the number of tenants and roommates that can apply for one of your properties. Along with regular rent payments, Cozy also allows one-time payment requests for late fees, utilities, etc.
Cozy landlords and property managers also receive full access to Landlordology and all of the educational tools and resources provided there.
Cozy is 100% free for landlords and property managers. If tenants would like to pay by credit card, there is a 2.75% transaction fee that the tenants will have to cover. Tenants also pay the costs for any credit reports or background checks.
Tenants can choose to pay with a debit or credit card, or directly from their bank account. The landlord usually receives the money in about 2 to 4 days.
Cozy is planning on adding online document signing , online storage, and expense and income tracking, soon. Cozy also plans to offer apps for IOS and Android phones.
Rentshare.com is a simple way for tenants to pay online. Tenants can use a mobile app or the website. Tenants can also set up automatic payments and reminders with any credit card or bank account. This service also allows renters to divide the rent among roommates.
The cost to use Rentshare.com is a flat fee of $1.95 per transaction, if the tenant pays directly from their bank account. Landlords can choose to cover some or all of these fees, or the tenant can pay them for them.
The website claims it takes only a few minutes to set up an account, and there are no contracts or hidden fees.
Appfolio.com offers property management software for large property management companies or for property owners who own a significant number of rental properties.
They charge $1.25 cents per month per unit, plus an “on-boarding fee.” There is a $250 minimum monthly fee. The service offers online rent payments, check printing, creating 1099s, tracking prospective tenants, online applications, mobile inspections, customizable online leases, and maintenance service requests.
For additional fees, they offer professional websites, tenant liability insurance, resident screening with a credit score and criminal check, and a property management answering service.
Propertyware.com offers a complete property management solution for property owners.
Pricing for this service is based on how many units you have and what level of service you need. The basic service starts at one dollar per unit per month with a $250 dollars minimum. This includes marketing, property management, owner portals, tenant portals, maintenance, accounting, screening, payments, unlimited support, and online training.
RentPayment.com is a service to collect rent that was built specifically for multifamily units, such as apartments. The whole point of their service is to collect rent. You can charge rent online and tenants can pay rent online. They strive to make the process easy for everyone, and even have an app for Smart phones.
The website claims that renters can pay online, through the mobile app, by email, by phone, by text message, or they can sign-up for auto pay. Rent can be paid by credit card, debit card, ACH, or with the good old-fashioned cash.
RentPayment.com claims to be an affordable payment solution with a simple setup process and an even simpler fee structure, however, the actual fees are not easily found on their website.
Please note: The Hardin Law Firm does not earn an affiliation fee when readers click on or purchase any of these services. Furthermore, The Hardin Law Firm does not recommend one product over another. This information is simply provided as a service to our landlord/management clients. As always, any company or service can change its products, services, plans, and rates. So, read the fine print before signing!
What online management tools do you use? Please share your experiences in the comments section, below.
IF YOU NEED HELP: If you need assistance with your Landlord-tenant legal matter in Arkansas, please contact Deborah at The Hardin Law Firm, PLC. For our out-of-state clients with Arkansas properties, we are available via phone, fax, and email, to assist you with your real estate needs.
ATTORNEY: Learn more about Our Attorneys and Staff.
SERVING: Cabot, Beebe, Ward, Searcy, Jacksonville, Lonoke County, White County, Faulkner County, and other central Arkansas areas. We also routinely serve out-of-state property owners, who require representation in Arkansas.
DISCLAIMER: The information contained in this web site is intended to convey general information. It should not be construed as legal advice or opinion. It is not an offer to represent you, nor is it intended to create an attorney-client relationship.
Published on: July 25, 2016
Last updated: September 6, 2016 at 12:22 pm