It is easy to list your single-family rental (SFR) or multi-dwelling apartment unit when you use a syndication app that sends your listing to RealEstate.com, Zillow.com, Rent.com, ApartmentList.com, and other apartment-listing sites at the same time. But how do you choose the right syndication solution?
Your budget and the functionalities you need in a rental syndication service will influence your decision. Some rental syndication solutions act as customer relationship management apps, property management software, and even have accounting features, giving you the benefit of a turnkey solution. Others provide robust listing services, but you will need other solutions to manage your properties, track vacancies, and collect rent.
Here are some aspects of rental syndication software you will want to evaluate before making your choice.
How large is the rental listing syndication network?
Rental syndication software can save you time by sharing your apartment listing across a number of sites where people search for available apartments. For this reason, the software’s network–the number of sites where it places your listing–is the most important feature to consider. You’ll want an app that syndicates your apartment listing to all the major sites. RentecDirect.com has one of the most comprehensive networks, as it sends your ads to places like Craigslist, in addition to all the top real estate websites.
Does the software allow landlords to add multimedia that will help spotlight your listings?
For instance, rental listing management software, Zealder.com, permits you to include YouTube or Vimeo videos of your rental property listings on their site. Some other rental syndication services only permit you to upload a single photo. If you are investing in multimedia technologies to promote your apartment vacancies, you will want a service that makes it easy to share the content you create.
Can prospective tenants apply directly through the app?
Some services permit prospective tenants to apply for an apartment directly through the rental syndication platform and will even permit landlords to run credit reports and background checks for free and send a lease agreement that can be signed and returned digitally.
What additional features does the rental syndication solution offer?
Some listing syndication services provide much more than just rental listings. Some services, like Cozy.co and RentecDirect.com, allow tenants to pay their rent or place repair or maintenance requests through the platform. Landlords can also screen tenants, track maintenance expenses and even connect the app to their bookkeeping software. Other solutions even focus on marketing, giving landlords a dedicated website for specific properties or the ability to send email blasts to promote new listings. If you are a growing investor seeking a robust property management solution, you may want to consider a solution that integrates accounting, property management, listing syndication, and marketing all in one.
How much does it cost, and what do you get for that price?
Some rental listing syndication platforms allow you to share a limited number of listings for free. Some offer monthly plans, while others allow you to pay-per-listing. Rentberry is one of the only sites that uses blockchain cryptocurrency, called Berry Coin, to collect rent and pay for listings. If you prefer more conventional payment methods, most sites charge a monthly fee based on the number of listings you want to promote and manage. When you’re pricing software, beware of hidden fees and upsells that could drive costs up beyond your marketing budget.
Just like spotting the best investment properties, choosing listing syndication software requires market research and a keen eye on your business goals. Fortunately, today’s technology solutions make it easier than ever to manage every aspect of SFR and MDU apartment rentals.
5 Arch Helps You Close on Profitable SFRs Faster… Borrow Better today!