WiseGeek Article About PM Software and a Quick Rentegration Update.

While working on our SEO, I cam across this article on WiseGeek. While general and brief, the article does a pretty decent job explaining many of the basic uses of property management software. Thought I'd share, for those of you out there who might still be using a manual system.

Beginning with basic inventory functions, property management software provides the ability to maintain complete descriptions of each of the rental properties involved in the business. Property managers have the ability to segregate the rentals by type, such as commercial and residential. Property management classifications can also be created using location as well, grouping various properties into cluster groups that the landlord can set up in the software. Landlords and property managers also have the ability to group properties based on monthly rates as well.

Property management software allows the manager to create individual profiles on each unit within a given property as well. For example, most property management softwarepackages will allow the user to not only include a description of the dimensions of the space, but also such details as carpet type and color, wall color, any specifications about the doors and windows, decorative molding, and appliances included with the unit. Digital images can also be uploaded and stored in the property management software, making it very easy to have a solid record of the condition of the unit when the current tenant first leased it.

Along with the physical inventory, many property management software packages include space to save profiles on the tenants. This can include company or individual names,credit reports, copies of correspondence to and from the tenant, payment habits, and any other information the landlord deems necessary to properly manage the property.

Reports that access the information can easily be created and printed if needed for either review of a lease or in the processing of an eviction. Many property software packages allow landlords to scan documents received from the tenants and upload them for storage as well. This helps to ensure there is a complete and permanent record to refer to in the event there is a dispute of what has transpired during the course of the business relationship.

Among the other features of most property management software packages is the ability to create templates for various forms, rental agreements and lease agreements, and letters that are commonly used when managing properties. Customized documents can be created with the templates and then saved in the appropriate file. The templates can save a lot of time when it comes to generating late notices, final notices, eviction notices and even general notifications to tenants.

In other news, our Utah forms set will be live next week. California forms are next up. We're still anticipating a release by the end of the year.

For those of you out there waiting for Rentegration.com to release forms fora specific state, please let us know which state and how many units you own or manage there. We're working on prioritizing the order of our state form production and feedback from users and prospective customers will be very helpful. Within the next month or so, we will be rolling out a basic set of generic, non-state specific forms to act as a stop gap while we are in production for the rest of the states.

Lastly, word from our tech staff is that there will be a significant upgrade, including the roll out of a major new feature, just after the New Year. We think you're going to be quite pleased!

Things are picking up around here. Rentegration is building momentum for 2010.

Thanks for reading. If you're not using Rentegration, please give us a look.

- Luke Miller

Utah Forms Coming Soon!

Just wanted to give you all a heads up that the forms set for Utah should be live after the Thanksgiving Holiday.  

We'll make an official announcement when they're live, but for now, you can count on using that Utah specific lease agreement or rental agreement, etc when you use Rentegration Property Management Software.

Have a great Holiday!

- Luke

6 Reasons To Invest In Rental Property Now.

I found the following article on ArticleSnatch.  The author makes some good points for those thinking of getting into or increasing their investment in the real estate investment game.

-Luke

Own Some Rental Property Before The Upswing

By: Stirling Gardner

Currently, it's tricky to see precisely why a person would want to put their money in the rental property business. Yet having the serenity that arrives from one of your occupants having signed your lease agreement can deliver good dividends (both financially and emotionally). 

Paying attention to the news and our government informing us how challenging it is even to remain alive, let alone bloom can become a genuine downer! Recall before the decline when real estate was the finest investment you could obtain?! Naturally, all things move cyclically, they always have and always will, so know that things will be on the upswing once more. So, moving forward, let me give out you six situations why you ought to invest straight away and to be ready for the big rebound when it happens!

- Recurring Monthly Income * If you invest at this point and do it smartly by doing some simple arithmetic, you will ensure that you have more funds remaining at the end of the month than the amount you use. If the rental earnings from your lease agreement is greater than your costs, that is a great situation.

Positive cash flow is a present that continues to give regardless of whether you are doing anything for it or not. A couple hundred dollars each month may not seem like a lot of money, but when you have several payments that quantity rolling in that you have received just by being a property owner, what seems like a small amount of income, will over time, really accumulate nicely.

- Security * Similar to children that rely on a particular blanket or pillow for a sense of harmony and security - contemporary events have shown that adults are the same. Adults like to feel powerful and that there are other possibilities when fiscal times get tough. Owning a rental apartment and having a signed lease agreement will give you the same sense of security because you know no matter what the circumstances in the world, there will always be several financial options to give you some monetary security.

- Depreciation * Even though individuals from both the Democrats and Republicans complain about our political system, with real estate they grant a yearly tax break for the amount you lost on your property. Simultaneously, while you can take a loss on the value of your rental property, the actual value of your property is going up. Although real estate has depreciated recently, when the worth of your property decreases, you pick up that depreciation whether the value is increasing or decreasing.

- Capital Gains * when you procure a property and its value increases while you own it, the IRS requires you to pay a particular tax on that dwelling after you sell it.

The advantage is, this tax is not due until after the sale is made. Another advantage is that you can usually expand the duration of time that is required to pay that tax even after you sell it if you know how to work it.

- Appreciation * Over the long run, the amount of real estate will always go up more than it goes down. This is usually a factor of supply and demand. As the property goes up, so does your net worth.

And note, if you have done your math correctly, you are receiving a positive cash flow while your net worth is going up. It's a great win-win. And lastly, if you purchased your rental property at a nice price, it's going to increase at an even greater rate all things equal.

I choose to see the stream of monthly positive cash flow as a down payment on the cascade of income that will come my way by way of appreciation. You can use this increased value and obtain a Home Equity Line of Credit to procure another fantastic rental property or anything else you want.

- Pride in Ownership * Remember the moment you purchased your first car? It could have been the biggest pile of scrap on the block, but it was yours. Imagine how amazing it would be to own your 1st rental property? Your 2nd? Your 3rd? Imagine having those lease agreements signed and creating lots of positive cash flow. It's hard to top the sensation of accomplishment so many other people can only dream about. 


So, regardless of the economy, if you do your research, you can find a terrific property, have a tenant sign your lease agreement, create positive cash flow for yourself and ride out the tide. Security comes from the confidence that you realize it's all cyclical and you will be positioned appropriately when the tides turn.

And with a lease agreement in place, your tenant will feel peace of mind too!

Rentegration Launches Colorado Rental Forms, Utah Up Next.

Rentegration Launches Colorado Rental Forms, Utah Up Next.

November 2, 2009

Portland, Or. - Rentegration, a leading on-line property management software and rental forms supplier, made Colorado state-specific forms available today.

"We are delighted," says Luke Miller, Public Relations Manager. "The Colorado apartment and rental housing market is very stable in this rough economy, and very tech savvy. According to the recent Denver Apartment Research Report from Marcus & Millichap , the Denver apartment market is expected to outpace the nation in growth over the next year and Rentegration to grow with it."

Colorado joins Oregon, Arizona and Washington as the states where Rentegration supplies rental and lease forms.

"That's four down, forty-six to go," continues Miller. "Each state has different laws and nuances and it's important to make sure you know the lease agreement or rental agreement, etcetera that you're using complies with those laws. Generic forms can be okay, but they can also cost you as a landlord. We plan to offer assurance to owners and property managers, that they can have access to quality forms no matter where they are in America. At Rentegration, our goal is to eventually offer forms for all fifty states, whether you buy them one form at a time or use them as a part of our full blown software package."

What is next for Rentegration?

"State-wise, we'll be rolling out a forms set for Utah in the next few weeks and we have several other states in the works for early 2010," says Miller. "We also have some wonderful new features in the works. It's an exciting time for this company right now."

Rentegration is offering $20 off initial sign-up costs through November 30, 2009. Use code WANFL09 at sign-up.

Visit www.Rentegration.com

Luke Miller

Public Relations Manager

Rentegration.com

Rentegration is a cost-effective property management software application featuring state specific rental and lease forms. Our integrated rental form and lease management software solution allows the organization of properties and tenants in an easy to use on-line database. Unlimited generation and storage of rental forms and lease forms is included in our base price.