Property Management Software Suggestions?

Question

I currently have two rental properties and will be adding five more units shortly. I am self-managing and am looking for some software to help. I have my two existing tenants set up on RentRedi, but the software is not really working for me. I would like my tenants to be able to be set up for autopayments, but RentRedi only allows for monthly autopayments of rent only. (I have a separate monthly water bill that also needs to be paid and I have one tenant that is on bi-weekly payments.) I like that RentRedi integrates with my accounting software (REI Hub), but managing tenant payments is very cumbersome. I can set up bi-weekly payments, but the tenant can't set up autopay for them.

Also, RentRedi does not have the abilty to communicate with my tenants or to get notifications on my phone - both are things I am looking for in my property management software. I can send messages out to my tenants, but they can't reply, so I end up having to contact them with my personal phone number or directly via email. Not too keen to give all of my tenants my personal information! I would really like to keep all communication about maintenance requests, rent collection, etc. inside the software. I would also like to get notifications on my phone when my tenants pay rent or log a maintenance request.

Can anyone recommend some software that does all of these things??

Thanks in advance!

Sarah Rosko · Answer

Hi Kristin! I agree with Jill—Buildium has been a great choice for us. Compared to other software, a standout feature is its texting option, which allows you to view and manage all tenant communications in one place. Anyone with access can read and reply to messages, which is incredibly useful. For general calls and messages with leads, rental owners, etc., we use OpenPhone. It allows multiple lines—such as a main office line, MTR/LTR inquiries, vendors, and rental owners—making communication easy and organized.

Drew Sygit · Answer

@Kristin Boekhoff how much are you realistically expecting to pay in a monthly subscription for software that does everything you want?

Please don't be naive and say $0!

Kristin Boekhoff · Answer

Thanks @Sarah Rosko and @Jill F. I have an appointment set up with Buildium tomorrow!

Melissa Labanowski · Answer

Escapia is user friendly however they are not 100% mobile friendly. These days guest book through their phone or tablet. Escapia has accounting built in as well as housekeeping and maintenance. It is price per unit per month. Not super expensive.

Kristin Boekhoff · Answer

I honestly don't have a clue. Hoping for less than $100/ mo while I am getting started though. I think I pay around $50 now for REI Hub + RentRedi-REI integration...

Nathan Gesner · Answer

Software is a common question on BiggerPockets. Here are some things to consider:

• Most investors don't need software until they have 5-10 rentals. You only need a place to track tenant information, payment history, maintenance, etc. You can easily do this on a spreadsheet, and it will take less time to track than finding and learning new software. If the software is not simplifying your life or making you more accurate, you shouldn't use it. Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.
• Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports. Do you need all this for a couple of rentals?
• There is no perfect software out there. Every system you try will have flaws, or you may salivate over a feature that appears in other software.

Some familiar names are mentioned frequently: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.

I recommend conducting thorough research on each app online to understand their offerings, pricing, etc. Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements. Try to narrow down your options to the top 3-4. Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function. Perform the same task in each app to ensure a fair comparison.

• Load a property with pictures and details.
• Market that property.
• See what your marketing looks like from the public's perspective.
• Submit a fake application to see how easy the process is.
• Run a credit/screening report on yourself.
• Enter a maintenance request, assign a vendor, and attach a fake invoice.
• Enter charges to the tenant's ledger.
• Enter recurring charges and automatic late fees.
• Sign documents electronically.
• Run owner reports.

After testing a few apps, one should clearly stand out. It's important to choose that one and commit to using it. Remember, no system is perfect, so avoid the temptation of constantly chasing after the next shiny object. You should only consider switching when your current software has a significant flaw or lacks features that force you to spend excessive time on workarounds. At that point, it's worth researching and finding a solution that better meets your needs.

Property Management Software Suggestions?

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