What's the ONE app you need to run your real estate business? What's your must have?

[Michael Calvey]

What's the ONE app you need to run your real estate business?

- What makes this app so important for your work?
- How did you find this app, and how has it helped you with your business?
- Do you know any other cool apps that not many people use but are really good?

[Kyler Stolp]

Rent Redi would be the one for me. I heard it talked about on the podcast and had to try it. Now property management takes little to no time and rent is deposited into our account automatically. Also keeps everything organized being able to have leases in there linked with the tenant and the property. For self management I think this type of software is a must have! 

[Mike Reynolds]

I’m following this because I have outgrown RentRedi. It was great at first but not so much now. I’ve had renters pay rent and then take it right back out. It takes several days to catch this. Then they turn around and do it again. On my side it shows paid in full until it’s time to make the deposit. Then when it shows behind they turn around and do the same thing. It’s frustrating to say the least. 

I will be using Rent Manager soon after I take the classes. I can’t say if they are the ones to use yet or not though. 

[Michael Hill]

Quote from @Mike Reynolds:

I’m following this because I have outgrown RentRedi. It was great at first but not so much now. I’ve had renters pay rent and then take it right back out. It takes several days to catch this. Then they turn around and do it again. On my side it shows paid in full until it’s time to make the deposit. Then when it shows behind they turn around and do the same thing. It’s frustrating to say the least. 

I will be using Rent Manager soon after I take the classes. I can’t say if they are the ones to use yet or not though. 

 How are they taking it right back out?  Are they disputing the charges?

[Mike Reynolds]

Quote from @Michael Hill:

Quote from @Mike Reynolds:

I’m following this because I have outgrown RentRedi. It was great at first but not so much now. I’ve had renters pay rent and then take it right back out. It takes several days to catch this. Then they turn around and do it again. On my side it shows paid in full until it’s time to make the deposit. Then when it shows behind they turn around and do the same thing. It’s frustrating to say the least. 

I will be using Rent Manager soon after I take the classes. I can’t say if they are the ones to use yet or not though. 

 How are they taking it right back out?  Are they disputing the charges?

 That’s a question we asked them and never got a good response. After 2 hours on the phone talking to someone in India. I have been wondering that myself. 

[Chris B.]

This happened to me once with the online rent collection service I use.  The tenant scheduled a ACH payment in the system and the system marked it as paid or pending or something like that in my view. Then a few days later, it didn't go through.  I spoke with the tenant and they had spent the money between initiating the payment and it clearing.  Apparently ACH transfers may take a few days to clear.

[Bruce Woodruff]

No apps needed. I like when the tenant puts a check in the electrical panel box and landlord picks it up on the first. Gives you a chance to check the property.

Quickbooks or WAVE for accounting. Do your own repairs. Done.

[Nathan Fisher]

I've had decent success with showmojo. the ability to have tenants screen and schedule themselves is pretty helpful.

The self serve option is hit or miss, I wouldn't use it in a city with strong squatters rights.

[Michael Calvey]

Quote from @Mike Reynolds:

I’m following this because I have outgrown RentRedi. It was great at first but not so much now. I’ve had renters pay rent and then take it right back out. It takes several days to catch this. Then they turn around and do it again. On my side it shows paid in full until it’s time to make the deposit. Then when it shows behind they turn around and do the same thing. It’s frustrating to say the least. 

I will be using Rent Manager soon after I take the classes. I can’t say if they are the ones to use yet or not though. 

 Hey Mike - Can you tell us more about what you mean by 'outgrowing RentRedi'? Is it because it doesn’t work as well when you have more properties? Is there a certain number of properties that you feel someone hits that it wouldn't be the best software to use because of your scale?

[Michael Calvey]

Quote from @Nathan Fisher:

I've had decent success with showmojo. the ability to have tenants screen and schedule themselves is pretty helpful.

The self serve option is hit or miss, I wouldn't use it in a city with strong squatters rights.

 That sounds real scary to use in a state like California. lol. 

[Nathan Fisher]

Quote from @Michael Calvey:

Quote from @Nathan Fisher:

I've had decent success with showmojo. the ability to have tenants screen and schedule themselves is pretty helpful.

The self serve option is hit or miss, I wouldn't use it in a city with strong squatters rights.

 That sounds real scary to use in a state like California. lol. 

Absolutely not in california.

 I've had squatters ( Usually people who got scammed thinking they were talking to  the "owners"). Usually they'll leave, or police will arrest them. Cleveland Proper won't get rid of them.

[Mike Reynolds]

Quote from @Michael Calvey:

Quote from @Mike Reynolds:

I’m following this because I have outgrown RentRedi. It was great at first but not so much now. I’ve had renters pay rent and then take it right back out. It takes several days to catch this. Then they turn around and do it again. On my side it shows paid in full until it’s time to make the deposit. Then when it shows behind they turn around and do the same thing. It’s frustrating to say the least. 

I will be using Rent Manager soon after I take the classes. I can’t say if they are the ones to use yet or not though. 

 Hey Mike - Can you tell us more about what you mean by 'outgrowing RentRedi'? Is it because it doesn’t work as well when you have more properties? Is there a certain number of properties that you feel someone hits that it wouldn't be the best software to use because of your scale?

 Maybe I should have said it outgrew me. The issue is tech savvy customers have figured out how to scam it and I can’t get satisfaction from their customer support. I really don’t have time to sit on a phone for 2 hours trying to get them to figure out what’s wrong. To be fair, I’m not the one using it. My partner who does this side of the business does. It was great 4 years ago and has went downhill in the last 2 years. I was using it even before BP was really endorsing it. Never even asked for the discount. 
I don’t think it’s an issue of how many. When I add tenants, I add them 50 plus at a time. I even hate having to change software because that creates a whole ‘nother set of problems I have to go through to get this new system implemented. That’s why we have researched so many for the past 6 months as well as been on the phone for hours and hours with current tech support. 

I wish Rent Redi well and hope everyone that like them continues to do so. It’s just. It for me anymore. 

[Nicolas Morales]

Hostaway is a must for my biz. 

- What makes this app so important for your work?
It is the central brain for our whole Short Term Rental Biz.

- How did you find this app, and how has it helped you with your business?

Alot of product demos on other Property Management Systems.

- Do you know any other cool apps that not many people use but are really good?

Enzo awesome AI for responding back to guest, as well as upsells and lock intergrations.