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Updated almost 4 years ago, 12/04/2020

User Stats

14
Posts
4
Votes
Ryan Wessel
  • Real Estate Agent
  • Cottage Grove, WI
4
Votes |
14
Posts

Rental management software 2021

Ryan Wessel
  • Real Estate Agent
  • Cottage Grove, WI
Posted

I was hoping to start a current discussion about rental management software options.  I currently have 75 units and I am under contract a 50 unit building closing soon.  
My current setup

Advertising: A crappy locally made website that uses show mojo plugin to show vacant properties, contact us page, and a generic Cozy link $500 one time fee https://couleeregionapartments...
Showings: Show Mojo (posts vacant units, auto schedules them based on my nanny\showing lady calendar) $69 per month https://web.showmojo.com/
Rent collection: Cozy (online rent collection) and drop box at office Free https://cozy.co/
Accounting: Quickbooks online Sync's with bank account and credit card (pain in the *** splitting deposits to correct address rental income sub accounts) $12-20 per month https://quickbooks.intuit.com/...

I am hoping to start a discussion w/ a owner that has made a switch to a system that they are happy with that does things automatically
- Allows prospects to schedule showings online, (syncs with showing persons calendar, text current tenants, makes prospect confirm text)
- Accounting system that syncs to Quickbooks to make my account happy
- provides a nice website
- pushes new listings of current property to Facebook market place and other relevant non Zillow places (not paying zillow anymore money than already do - I am realtor ;)
- Auto sends lease renewals letters/e-signature leases with renewal agreement 

User Stats

1,092
Posts
750
Votes
Mark H. Porter
  • Investor
  • SC NC, VA
750
Votes |
1,092
Posts
Mark H. Porter
  • Investor
  • SC NC, VA
Replied

I’ll be the wise guy - pay someone else.  

My property manager charges me 6%, she collects all the physical checks and cash and schedules maintenance.  

My bookkeeper does like you do - auto downloads bank and credit card transactions.  They also invoice each tenant individually on the 25th and I pay .50 for each electronic payment.

I pay the bills and use ReceiptBank to take photos of invoices and send them to the bookkeeper.

I really don’t know a Property management software that will do this without costing much, much more.

User Stats

14
Posts
4
Votes
Ryan Wessel
  • Real Estate Agent
  • Cottage Grove, WI
4
Votes |
14
Posts
Ryan Wessel
  • Real Estate Agent
  • Cottage Grove, WI
Replied

Thanks for your comments Mark, I would prefer to manage my own property with tools and staff I purchase and hire.  

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User Stats

1,092
Posts
750
Votes
Mark H. Porter
  • Investor
  • SC NC, VA
750
Votes |
1,092
Posts
Mark H. Porter
  • Investor
  • SC NC, VA
Replied

@Ryan Wessel yeah, you are that big.  I apologize for my rant as it wasn’t really applicable.  My disclaimer is that I’ve always done the MF as a part-time gig since I work for a defense contractor iN DC.

Beat of luck in the 50-unit purchase!

User Stats

868
Posts
800
Votes
Tracy Streich
Property Manager
Pro Member
  • Real Estate Broker
  • Tulsa- OKC Oklahoma
800
Votes |
868
Posts
Tracy Streich
Property Manager
Pro Member
  • Real Estate Broker
  • Tulsa- OKC Oklahoma
Replied

You need to get on a professional platform.   The way you have it set up now is for a small time manager.   You need to move to something that does all that or at least works together.   Appfolio or Propertyware are two good options.   You can do all the management and the accounting in these platforms.   Collect rents online and pay vendors.  Use the internal application which you can customize and the internal leasing.   Tenant fills out app and pays fee,   you screen in the software, deny or accept.   After acceptance it moves the info to the lease and you send for digital signature.   All info then populates for tenant.   Everything from maintenance to accounting is in one spot.  No need for separate QB.  Take you time on the initial set up and it will run great.    You will still have to use Show mojo or Tenant Turner for your showing and scheduling.   Either of these will push to other advertising platforms.   They also have built in options for Web page and development.   We personally us PMW for the website and love it. Good luck

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User Stats

14
Posts
4
Votes
Ryan Wessel
  • Real Estate Agent
  • Cottage Grove, WI
4
Votes |
14
Posts
Ryan Wessel
  • Real Estate Agent
  • Cottage Grove, WI
Replied

@Tracy Streich

Thanks! I have a demo scheduled with app folio Tuesday. I will schedule one with Propertyware. What is PMW? I wonder why they don't have there own showing setup like show mojo. I will have to check out tenant turner, show mojo is a little glitchy. I really appreciate your time.