6 Things Slowing Down Your Rental Business

rental business snail image: picture of a man's feet in black dress shoes standing at a "start" line with a snail crawling across it

What do snails and trying to manage a rental business have in common? It can feel like you’re doing a lot of crawling and not covering a lot of ground.

No doubt about it, being a landlord comes with its trials and tribulations. It can range from months to years before you can turn a rental business profitable and create a property management or landlord process that you’re confident will deliver results.

However, if you’re looking to weed out inefficiencies from your rental business, there are 6 common time consumers that, when streamlined, can speed up your rental business from a snail’s pace to a sprint.

  1. Creating accounts on multiple listing sites
  2. Wasting time showing unit to unqualified prospects
  3. Choosing tenants that lead to eviction or vacancy
  4. Picking up or waiting for physical checks
  5. Manually tracking payments and calculate late fees
  6. Juggling emails, texts, and calls from tenants

And, as every landlord knows, time lost is money lost—especially when it comes to tenant turnover, evictions, handling maintenance issues, and getting money to the bank.

So, if you feel like you’re at a snail’s crawl when it comes to managing your rental business, there are a few things you can do to fix common hurdles.

How to ‘Upscale’ the Snails of Your Rental Business

I know, I know. “Upscale the snail” sounds like something I made up, and that’s because I did. But, essentially, it means there are ways you can optimize your business to make it run smoother, faster, and more efficiently.

That’s where RentRedi comes in.

We’re an automated, all-in-one solution. Our mobile and web apps mean you can pretty much manage your entire business from your laptop or phone. Essentially, we streamline critical processes for our landlords and, on average, save them 8+ hours a week.

  1. Listings to Realtor.com, Zillow, and RentRedi. You can input and save all your property and unit information and details (along with photos!) in RentRedi and list it to multiple platforms.
  2. Tenant prequalification: Our in-app 10-question survey that you can invite tenants to fill out before you even show them the unit so you can determine if they meet your minimum requirements.
  3. Automatic Tenant Screening: Turn on RentRedi’s auto-tenant screening to get a comprehensive mobile-submitted application that exports to a PDF and tenant-paid screening reports from TransUnion (credit, criminal, and eviction history).
  4. Online & Mobile-Submitted Rent Payments: No more waiting for that snail mail or having to go collect checks. Now, tenants can pay you right from their RentRedi app with card, cash, ACH, or ACH-only and neither one of you have to leave the comfort of your couch!
  5. Track Payments and Auto-Late Fees: Payments are all tracked in RentRedi and auto-late fees are automatically applied after initial set up. You can pick grace periods, charging by % or $, and a max cap.
  6. Mobile Maintenance Requests and In-App Notifications: Your tenants can submit mobile maintenance requests right from their phone along with a 5-second video of the issue so you can see directly what the problem is. In addition, we also have in-app notifications so you can notify tenants by unit or property of important announcements and send reminders.

A Million Landlord Problems—One Solution

We’re about that “make property management easier” lifestyle for landlords. While the real estate industry has been slow to adopt technology, we’re running full steam ahead to solve the problems landlords face. Sometimes it seems like there are a million of them. But we strive to be an all-in-one platform that makes renting easy.