Property management of rental property is easy-sounding until all the little things begin to build up. A vacancy begins as a listing. The listing builds into inquiries, viewings, applications, background checks, lease documents, rent tracking, maintenance request documentation, and record-keeping. Independent landlords (especially those with only one to a handful of properties) find that the largest obstacle is organizing each component rather than handling the property itself. TurboTenant fills that void.
TurboTenant is a rental property management software application for landlords who wish to manage their rental property more formally, yet remain in complete control. The TurboTenant rental property management software application allows landlords to advertise rental units, evaluate potential renters, prepare lease agreements, collect rent, track maintenance, maintain communications, and retain a history of rental activities in one location. Additionally, TurboTenant states that its free plan includes rental listings, applications from interested renters, tenant screening, electronic rent collections, and tracking of maintenance on rental property.
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Do-It-Yourself Rental Property Management With A Local Touch
The greatest strength of TurboTenant’s package is the blend of do-it-yourself control with optional direct assistance. Most landlord software packages provide only tools. TurboTenant takes an additional step forward by providing both a digital platform and local support services related to the management of rental property. These include placing a tenant in a rental unit, coordinating maintenance requirements of the property, and providing general administrative support. TurboTenant describes its Autopilot program as utilizing intelligent technology and expert resources to assist landlords with locating a suitable tenant and maintaining ongoing property management responsibilities.
This aspect of the package is significant since not every landlord wishes to become equally involved in the management of his/her rental property. Some landlords prefer to perform all aspects of the management of their rental property themselves; however, they would appreciate improved systems to accomplish these functions. Other landlords wish to continue performing many aspects of the management of their rental property (including collecting rent and communicating with tenants), but desire assistance in identifying a tenant. Still other landlords may be expanding their investment portfolio and/or may require more direct support with respect to managing multiple rental properties without having to hire a traditional full-service property manager.
What TurboTenant Offers
TurboTenant’s primary advantage is that it places the essential elements of the landlord workflow in one platform. Rather than using separate tools to list a rental unit, accept an application from a prospective tenant, send reminder notifications to tenants regarding rent due date, etc., and maintain all associated information in a spreadsheet (for example), landlords can manage most aspects of the rental process from a central location.
In addition to supporting advertising and promotion of rental units, TurboTenant has included support for online applications from prospective tenants; background checks and credit evaluations; creating and executing lease agreements; electronic rent collections with notification reminders and late fee assessments; tracking of maintenance issues; account management; document storage and retrieval; and various other features, including state-specific lease templates.
Additionally, TurboTenant has highlighted support for listing and advertising rental units through multiple platforms; electronic rent collections with automated notifications and assessment of late fees; integrated accounting and bookkeeping capabilities; communication with tenants via message board; maintenance request processes; and listing syndication.
For smaller landlords, the ability to have the majority of the necessary components required to manage a rental unit within one platform can be beneficial. Missing emails, poor tracking of maintenance requests, etc., can lead to unnecessary headaches down the road. By allowing applicants to submit their applications electronically, leasing agreements to be executed digitally, providing access to tenant portals for viewing lease terms, sending automated reminders regarding upcoming rent due dates, and tracking maintenance issues can greatly improve the overall efficiency and professionalism of the rental process.
Benefits & Drawbacks
Advantages
- TurboTenant Provides Excellent All-In-One Landlord Workflow Tools
TurboTenant provides a comprehensive set of tools designed specifically for use by landlords to manage all aspects of their rental business: marketing/advertising; evaluating applicant qualifications (applications); screening potential tenants; preparing lease agreements; collecting rent; tracking maintenance requests; documenting communications; and storing all historical data related to each rental unit in one location. This is particularly valuable to landlords who currently rely on disparate methods to manage each of these critical aspects of their rental businesses.
- TurboTenant Has Developed Software Specifically Designed for Use by Small Independent Landlords
As stated earlier, TurboTenant has created its platform around the needs of independent landlords who are responsible for managing relatively small numbers of rental units. It does not appear that the developers were primarily focused on developing software designed exclusively for use by large multi-unit property managers. As such, TurboTenant believes that its system will be highly effective regardless of whether you manage one or fifty rental units.
- TurboTenant Offers Practical Free Features for Landlords
One of the most attractive aspects of TurboTenant is that its free plan includes many practical features that can immediately assist in streamlining your rental business operations. Examples include online listings, applications from prospective tenants, tenant screening services (background checks, credit checks, evictions), electronic rent collection services with automated notification reminders and late fee charges, and maintenance tracking services.
- TurboTenant Includes Tenant Screening Services Built Directly Into Your Workflow
Screening applicants is arguably one of the most important aspects of property management. Therefore, it is logical that TurboTenant has developed screening services directly into its workflow. Using its services enables you to run background checks (credit reports, evictions), obtain credit scores on applicants, and ultimately determine if an applicant meets your minimum qualification standards prior to approving them as tenants.
Disadvantages
- TurboTenant May Require Upgrades to Access Advanced Functionality
While the free plan offered by TurboTenant is certainly advantageous for landlords seeking a method to streamline their workflows at no cost, it is likely that landlords desiring rapid payment processing capabilities (i.e., same-day deposits), greater numbers, forms, fields available for lease execution documents, enhanced accounting, bookkeeping functionality, or more extensive support options will be forced to consider purchasing upgraded versions of the software.
- TurboTenant May Provide More Than Necessary Functions for Casual Renters
Landlords who possess only one long-term tenant and are experiencing minimal administrative burdens may not necessarily take advantage of every function provided by TurboTenant. Thus, while TurboTenant could still prove beneficial as an organizational tool, it may initially seem overwhelming with too many features available.
- Availability of Support Options Varies Depending Upon Location
Since the support element relates primarily to services beyond mere digital platforms (i.e., actual physical presence), it is recommended that landlords review what types of services are available in their geographic region prior to assuming that all types of services will be applicable to their respective markets.
Conclusion
TurboTenant stands apart from competing products since it acknowledges today’s independent landlord’s needs. It is not merely providing an alternative dashboard; it is offering a practical means for managing rentals more confidently, efficiently, and optionally supported by people when software cannot adequately address the needs of the landlord.
Therefore, for independent landlords desirous of receiving both the benefits associated with “do-it-yourself” property management software, tenant screening tools, lease preparation tools, rent collection tools, maintenance tracking tools, and true support when needed, TurboTenant deserves consideration as number one.
