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Updated almost 3 years ago,
Best software for managing a multifamily building we own?
Hi, I'm an investor owner/occupying a 3 unit MF and trying to set up a system to track everything, but having a tough time figuring out the best option as the most obvious options aren't really working out. I know how to do the bookkeeping and the principles, but I've looked on here and the internet generally and I'm coming up short. I imagine many others are similarly situated - if you own and manage a building or small portfolio, how do you organize and keep relatively basic accounting for your property or portfolio?
I'd prefer not to just use Excel, as it is helpful to generate reports, tenant statements, etc. although it's only 2 other tenants and while I plan to scale up, for now just looking to address this building. Will spend some $ but only need light use, so prefer to keep that expense down. I know how to use Quickbooks but it has major cons (it's expensive, can't really easily build in features of a mortgage, recurring invoices are only for the $90/mo. plan), Quicken might be good but their property management is only on Windows, Stessa seems like it's pretty good but not comfortable with its terms (nothing in life is really free, folks! your data can be shared and your info sold to be marketed to...read the terms).
What has been your experience? What do you like to use? Thanks all!