Property Management Software

[Matt Holt]

Hello BP community,

At this point in time we have 4 units that we own and manage. We have been relying on Excel heavily for keeping track of everything, which has worked out alright so far but we are continuing to expand. I have heard of very successful investors using software such as Buildium and Appfolio but we are not at a scale yet to make those worth the cost. Does anyone have suggestions for a software that is scalable and cost effective for us at this stage in our investing career? 

Thanks,

Matt 

[Randall Alan]

I have your answer!  :)   We use Rentec Direct.  Seriously, it was perfect for us starting out.  It works out to about $4 a property per month.  We have 40 properties and pay under $150 now.  Their pricing scales with the number of properties.  I think they have an "under 10 unit" pricing.  The thing I love about it most is that they have a client facing web portal where tenants pay their rent, and Rentec Direct charges NOTHING (ie no fee) for ACH transactions that they direct deposit into your bank account for you... just a straight up $4ish dollars per month per unit base fee. A lot of others want to charge you a percentage of your rent that they collect.  No thank you!  It does so much more... markets our properties when they are vacant through Zillow affiliate marketing, does background checks, tracks all the expenses, generates billing, lots of reporting, and on and on and on.

 I know I probably sound like a cheerleader... but it is my most favorite business asset for my real estate!!  Simple, intuitive interface that does what I want, for a cheap price. Definitely worth checking out.

Randy