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Updated 6 days ago on . Most recent reply

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Ryan Prichard
  • Real Estate Agent
  • Grand Rapids
2
Votes |
12
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What software should I use as a commercial property manager?

Ryan Prichard
  • Real Estate Agent
  • Grand Rapids
Posted

I'm choosing to self manage a building I also run my business out of and my tenants are requesting to make ACH payments to me. This has prompted me to look into a software to track income and expenses. What software like an AppFolio or Yardi breeze should I use? Should I use QuickBooks directly for something like this? Most all my service requests go to me directly anyways. Thanks fam. 

  • Ryan Prichard
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Blue Beacon Brokerage
5.0 stars
52 Reviews

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Michael K Gallagher
#2 Commercial Real Estate Investing Contributor
  • Real Estate Agent
  • Columbus OH
828
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Michael K Gallagher
#2 Commercial Real Estate Investing Contributor
  • Real Estate Agent
  • Columbus OH
Replied

@Ryan Prichard one of the better options out there that can handle commercial properties, for what I'd consider a "low cost" platform is Hemlane.  I believe some of their people are likely here on the forums and can jump in, they also had a booth and sponsorship at last years BP con so if you went you may have seen them.

I came across the service because I had a client who was going to self manage, and wanted me to lease the units for him, and the property was a mixed use building with his business operating out of the ground floor.  Most "traditional" or "free" type softwares out there couldn't handle the commercial address, and "commercial" specific softwares were exorbitantly expensive when I looked, now this was some 4 years ago now so perhaps there is a new player, but regardless that client jumped on hemlane, and I was able to get on as well as his leasing agent and he now has 8 units in total across a couple properties, both commercial and residentially zoned on the one dashboard.  Its a pretty flexible platform also especially if you are self managing.  

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