Welcome to the Rental Income Podcast Resources Page, which contains a list of the best tools and services I recommend for building and optimizing your rental business.
I have tested or used EVERY resource on this page. Many of them are absolutely VITAL to the success of my rentals and will have HUGE impacts on yours as well.
NOTE*** Some of the content on this page does contain affiliate links, meaning I get a small commission if you purchase a product, at no additional cost to you. I do this to help finance the free content that I publish on my website, so I appreciate your support.
Please know that I ONLY recommend products that I can stand behind 100%.
If you are looking for a way to let your tenants to pay rent online, check out Cozy. Tenants can schedule rent to be collected automatically, or they can set-up one time payments. The money gets transferred to your bank via ACH to you for free.
You can also screen your applicants on Cozy. This service is also free for landlords. Your tenant pays an application fee to Cozy, and you get sent a link to review their background report.
Rentometer is a great free tool to get a rent estimate for a property. You just enter the property address and some basic info and rent-o-meter will give you an estimate for what a property will rent for.
They also have a premium service where you can see rental comps, and historical rent trends. This information can come in handy when you are evaluating a property to purchase, and to make sure that you are charging the maximum rental amount for your property.
AskRic is an app that makes it really easy to analyze potential rental properties. You can search for properties for sale on the app. If something looks interesting, with the touch of a button, you can see a report showing the estimated rental income and your expenses (including your estimated mortgage payment, property taxes, insurance and repairs).
If the property looks good, you can instantly send it to your Realtor to set up a tour, or even make an offer.
RentalHero was designed for landlords to easily track income and expenses online. It’s really simple to input your rental income and expenses. It makes tax time really simple. You can easily run a report to give to your CPA, and you are done. (They are currently offering a free 30-day trial, with no credit card required.)
It’s always a good idea to have a credit card handy for an emergency or to pay for an unexpected repair on a rental property. There are several cards that offer an intro 0% APR on purchases. This is the most complete list that I have found.
RentFax is a tool that estimates the amount a property will rent for using real-time rent and tenancy data. The report also gives a grade for the neighborhood by factoring demographics, neighborhood economics, schools, crime, and other location-based factors. If you are buying properties out of town, or you aren’t 100% sure about the neighborhood, you can easily run a free RentFax report to get the information you need. It’s also a great idea to run a new report at every turnover, to make sure you are getting the maximum rent.
REI Guard provides insurance for real estate investors. I have found most of the big, big brand name insurance companies don’t always understand the needs of investors. REI Guard only works with investors for rental properties, flips, and vacant properties. They have very reasonable rates, and really good customer service. I have been really happy with their service.
RocketLawyer is my goto source for any legal docs I need. They have every form that a landlord could need including leases for all 50 states, eviction notices, and rental applications. You can also speak to an attorney if you have a legal question. All of their forms are super easy to customize. I love them!
Ridge Lending specializes in making mortgages for rental properties. Owner Caeli Ridge is an investor herself and will spend time with you to make sure that you get the best rates and have the best financing in place for your situation.
Setting up and maintaining an LLC can be tricky. My Company Works makes it really simple. You just give them your information and they take care of all of the paperwork and send you all the documents that you need.
Over the last few years, it has gotten easier to invest in real estate with crowdfunding. The way EquityMultiple works, is they pool money from lots of investors and invest in bigger real estate deals. EquityMultiple has a team of people that vet deals, and they make only the best deals available to their investors. This is a great way to diversify yourself into different asset classes and markets.