As your rental property portfolio grows, you will need tools to help you manage it. From collecting rent and managing property repairs to conducting market research for new acquisitions, today’s multifamily investors can essentially run theirbusinesses from a smartphone. The right apps make investors more productive, help them save time, and can even result in better tenants and more profitable investments.

Director of Investor Relations, Vee Khuu recommends these 7 apps to help manage your real estate portfolio:

1. AppFolio: Mobile Project Management for Multifamily Investors

Commercial real estate investors can ramp up productivity with a project management app. AppFolio offers an easy to use interface and robust capabilities. You can do everything within its platform, from tenant screening to sending Vendor eChecks.

With a user-friendly tenant portal, the app allows tenants to pay online, post maintenance requests, and even rate the speed and quality of service so you can learn and improve.

Podio and Yardi are also project management apps worth looking into, according to investors. Along with AppFolio, Yardi is one of the top-notch property management tools.

2. Cozy: Collect Rent Online

If you’re not quite large enough to benefit from the full-scale services of a platform like AppFolio, you might consider downloading Cozy to make it easy for your tenants to pay rent online. It is simple to set up and is inexpensive.

Cozy is much more than just an online payment system. You can track when tenants paid, automatically add on late fees when the rent doesn’t arrive on time, share documents such as proof of renter’s insurance, and also field maintenance requests. In addition, Cozy permits you to screen tenants before they even sign the lease.

Cozy also provides a simple bookkeeping platform, allowing you to track expenses and upload photos or scans of your receipts for your records.

3. Zelle: Mobile Payments Deposited Directly into Your Bank Account for Free

If you don’t want to pay for a subscription or download yet another app to your phone, Zelle allows tenants to pay you quickly and easily. The money goes directly from their bank account to yours. Zelle works with many common bank and credit union mobile apps, so you (and your tenants) don’t have to download any additional apps.

You can write it into your leases that all the tenants must use Zelle to pay rent, therefore you no longer have to worry about chasing down checks.

4. Takl: Find the Right Person for Any Job

It’s one thing to be able to track maintenance requests through an app, but finding someone to complete the work can be another challenge investors face. Check out Takl. You can find someone to do just about anything you need on Takl. It’s easy to find vendors to do handyman jobs, plumbing, electric, and even clerical work. This is a great app for new commercial investors who may not have the capital to hire a full-time management and maintenance company yet.

Takl is currently available in major metropolitan areas of about 35 states and Washington, D.C.

https://www.skype.com/en/

5. Skype: Video Chat with Anyone at Any Time

It’s not tailored to real estate professionals, but some investors say they can’t live without Skype. It’s versatile, and easy to use. You can use the mobile video conferencing platform to send pictures of properties as well as make video calls.

Others laud the similar app, Zoom, which boasts a robust video conferencing platform. It is simple, straightforward, and most of all affordable. There is a FREE version!

6. Google Drive: Move Your Files Into the Cloud

As the business world increasingly relies on cloud, or internet-based storage for spreadsheets, documents, photos and other files, smart commercial real estate investors are following the trend. With Google Drive you can easily share files, and maintain version control.

Google Keep is a notepad and reminder app that syncs to Google Drive that is quite handy. It can take notes typed or handwritten, set up reminders and saves photos.

7. CoStar: The Data You Need to Make Smart Investment Choices

CoStar, owner and publisher of LoopNet, provides sale and lease comps, detailed analysis of commercial investment properties in 12,000 markets and sub-markets across North America, and property listings, many with photo, video, and virtual tours available.

Just like any investments, you need to be able to research commercial real estate properties thoroughly before jumping in. CoStar provides tons of data and research about the markets as well as the buildings you are trying to purchase.

Productivity Boosters in Your Pocket

A successful real estate investment career is built on hard work and diligence. The right technology can make it easier to manage your growing empire, whether you own one building or entire blocks.