Forget tracking tenant payments and focus on other tasks
Published on: Thursday, December 10th, 2015
For property managers, collecting rent in a timely manner is a way of life. Whether you have the ideal tenant who submits the full amount on time or the tenant who needs monthly reminding to pay, a property manager is responsible for making sure payments are submitted. PocketRent is property management software that simplifies rent collection. Tenants submit their payments and PocketRent will track payments and notify property managers when rent is not paid. We spoke with Mark Huser, from PocketRent to learn more.
APM: Describe your product and describe its function?
Mark: PocketRent is all about spending less time managing your properties with our efficient tools to streamline your workflow and get the best return from your rental investments. The main features within this system are:
- Financial Sync
PocketRent integrates directly with Xero, automatically reconciling invoices, matching payments as well as adding payments and expenses. Our clients experience the easiest end of-the-year reporting.
- Track tenant payments automatically
Property managers can be assured that their tenants are making their payments in full and on time. If a rent payment is missed, PocketRent will automatically send you and your tenants an email.
- Create your own automated forms
PocketRent generates pre-populated tenancy contracts. All you need to do is sign it.
- Streamline communications
Emails are sent to tenants directly and stored in PocketRent for easy retrieval.
Maintenance issues, inspection times, contract details, and their payment records can be viewed by tenants who log on to our secure tenants’ area.
- Simplify inspections
Set up and store inspection paperwork and add photos or comments with our stunningly effective iOS App.
- Quick to set up
It takes mere minutes to set up each property – you’ll be up and running in no time!
- Metrics & reporting with depth
Quickly see at a glance the health of your property portfolio and click straight through to detailed performance reports.
- All you need in one place
You won’t lose another agreement again – store all your signed tenancy agreements, bond lodgement forms and compliance certificates or any other documents associated with buildings, units, properties and tenancies.
APM: What made you develop your product?
Mark: Six of us (founders/directors) thought that managing your own property shouldn’t be so complicated to do yourself, and not as expensive for a property manager to do so on your behalf. Furthermore, it should be tightly integrated with accounting software to make the end- of -year process more efficient and accurate. Between all of us, we have broad experience of the pain points across residential and commercial properties, tech experience and business management. Once we started we immediately created a list of a minimum feature-set, and got to work. We’ve since moved beyond the “I want to manage my own properties” market onto property managers, but we retain the basic premise of increasing efficiency in the tenancy, maintenance and cash-flow management processes.
APM: What makes your product stand out?
Mark: The amount of time you can save makes us stand out. Once PocketRent is set up, it’s everything you need to store and access documentation, automatically track rent payments and expenses and streamline the maintenance workflow with your preferred tradespeople and suppliers.
APM: For property managers who do not have a lot of time to differentiate between products, why does your product stand out from the competition?
Mark: PocketRent saves time and errors.
APM: Describe a memorable moment with a customer and what they said about your product?
Mark: When closing her account, one of our customers was deeply disappointed that due to selling her property portfolio she would no longer be able to use PocketRent. She literally said, “It is an awesome service, easy to use and simple to navigate. It takes the hassle out of managing properties, payments and paperwork – a superb idea that’s made our lives easier!” Of course, the purchaser of her properties created an account.
APM: Pick a specific feature of the product and tell me why this feature stands out to you and your own experience with it.
Mark: My favorite PocketRent feature is the automatic tenancy agreement generation. Two clicks gives a comprehensive legal agreement (which is fully customizable via our template engine) pre-filled with property details, payment requirements, responsibilities and tenant/manager/landlord details. It’s a massive time-saver and great peace of mind since PocketRent calculates rent amounts required based on time periods and won’t ever forget to pre-fill important elements such as chattels.
APM: If we talked to your top three customers, how would they describe your product?
Mark: Easy to use, saves them lots of time and money and reduces errors.
APM: Is there anything else you would like your customers to know?
Mark: It’s free for one month with any number of properties and free forever for a single property. We love our customers and want to get them started as quickly as possible – we’ll load all your properties in the system for free (initial setup) so that you can get up and running quickly. We’d also like to offer a special deal to your readers – 25% off our standard pricing forever if using the promo code “AllPropertyManagement” when signing up or directly follow this link.
To Sum It Up!
PocketRent is property management software with the capability to monitor tenant payments to ensure that payments are made in full and on time. Property managers can focus on other daily tasks and allow PocketRent to track their payments for them.
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