The real estate investment space has undergone many changes in the past few years. The COVID-19 pandemic drastically shifted the way everyone conducted business—tech companies like Zoom and Microsoft revolutionized the way we stay connected as we were forced to take our companies online.
The real estate industry is no different. Landlords and property managers who had been keeping records via paper and pen started wondering whether there was an easier solution.
While it’s true that online property management software was already on the rise, the inability to physically interact with tenants to collect rent checks or sign leases hastened the transition to this kind of software. However, many platforms targeted large landlords with a vast portfolio of units. These sites offered too much and were too expensive for small or mid-sized property managers.
Innago offers a free, online, and automated software that takes on the burden of bookkeeping, tenant screening, and other tedious tasks that property managers take on every day. Innago is for everyone, from the family-run properties to the real estate pros with many units. You are able to choose exactly what Innago does for you.
What is the Value of Innago in the Property Management Space?
While there are other online property management solutions out there, we realized that there was no platform that offered free services with the depth and passion that Innago does. There may be other companies that offer similar features to us, but we found that our customers value the beginner-friendly aspect to our site as well as the low barrier to entry. You don’t have to run a real estate empire to use Innago; landlords with only a few units can greatly benefit from our software, too. (And let’s not forget the most important part: it’s free!)
So, what exactly does Innago do to help landlords and property managers? Here are a few perks of switching to our platform.
How can Innago save time?
Many property managers are keeping their records via paper and pen. While that may work for some, many business owners do not have the time and patience required to keep meticulous physical records. Even if you use your own spreadsheet or another kind of software that requires manual entering, you’re putting your important records at risk for false information due to typos or incorrect entries.
Innago offers streamlined, automated software that manages rental payments, maintenance requests, lease signing and other offerings with minimal to no outside intervention from the property manager. Using Innago allows business owners to do other things like research ways to build their portfolio or go above and beyond with their tenants without having to worry about tedious record-keeping or other menial tasks.
How can Innago save money for property managers?
When landlords keep their records via pen and paper or another non-automated model, it’s easy to miss certain fees that tenants can accrue by paying rent late. Add-ons and things that require additional fees like pet rent or parking spaces can also be difficult to track.
Luckily, Innago takes care of these fees for you. If a tenant pays rent late, Innago will charge them the late fee you decide without any direct intervention on your part. If you allow for a grace period in which tenants can pay rent late without penalty, you can specify that with Innago too.
With manual entry, it’s also very easy to miss entire payments. By allowing tenants to pay rent via Innago, you no longer have to worry about the influx of physical checks that could be at risk of being lost or misplaced. Tenants can pay however they prefer, making it easier for them to pay rent on time, in their way.
Innago’s financial dashboard gives landlords an at-a-glance look at the amount of money outstanding and gives them the tools to settle that disparity. Without Innago’s automation, you could be spending hours combing through records trying to see who has yet to pay their rent.
What is the most important part of property management? How does Innago streamline that process?
The tenants should always be the focus of your property management business model. Automating property management tasks improves your relationship with your occupants since you won’t be cooped up in your office trying to track down missing paperwork. You can now spend more time in your community getting to know your tenants and how to make your properties and community best suited for them.
Innago also helps you avoid tenant disputes. You no longer have to wonder if Tenant Tim is lying, or if he actually did pay his April rent and you simply missed the payment or lost the check. Innago tracks each payment for you, cutting down on headache-causing tenant troubles.
With your new free time, you can focus on planning community events geared towards fostering your existing community or bringing new potential tenants in. When there is camaraderie between you and your current occupants, it’s easier to broach topics like rent nonpayment or other potential points of contention.
What’s the Cost of Not Using Innago
While it’s understandable to be fearful of fully online property management software, it’s important to remember what you could potentially be missing out on when you keep your record-keeping system on paper.
Recordkeeping is a large part of being a good property manager. Monitoring your income and expenses is the best way to ensure you’re maximizing profit and sending money to parts of the business that need it the most. With Innago, bookkeeping is completely automated. Your financial dashboard will show you any outstanding balances alongside your net profit and loss and can generate important and insightful financial reports.
Also, Innago’s helpful and dedicated support team is here for you every step of the way. We understand that handing over the most important parts of your business can be stressful, but we’re here to help. There will always be a learning curve when switching to any kind of software, but it’s easier with a support staff that is knowledgeable and ready to assist however they can.
Conclusion
Property management should be about the tenants. As your portfolio evolves, it’s easy for your properties to become overwhelming, taking the emphasis away from the people and pulling it towards the day-to-day tedious tasks. Innago helps property managers of all sizes and specialties bring their focus back to what matters by automating their most time consuming responsibilities.
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