Software suggestion for managed Rental Property

[Pran Bhavsar]

I have 5 rental properties and 1 Airbnb. All properties are managed by a PM and I am looking for software that can do some specific things.

I am very open to any kind of solution. I currently am using spreadsheets and it is getting difficult to manage and while refinancing properties I noticed I take a lot of time to gather my mortgage statements. Wish there was a simpler solution.

I would like to address these features

• Take pictures of expenses
• Manage expenses
• Break down cash flow for each property
• My PMs statement are directly imported
• Can break out the expenses and revenue for each property from the PM Statement and keeping a running list.
• Import my bank account info
• Import my credit card info
• Import mortgage statements
• Import insurance stmt
• Import personal w2
• Import my completed taxes

[Joe Martella]

I currently manage 4 SFH rentals in addition to having a very demanding full time job. There are many free resources out there for smaller investors. I am going to list them:

• TurboTenant
  • It is completely free to advertise your rental, screen your tenants.
  • You upload your pictures, write a description and it posts to 20+ websites for free
  • Takes about 24-48 hours for leads to come in.
  • Once you select a tenant, they pay for the background check, upload documents (paystubs, ID, W2) and it is all set to you.
  • It even helps you build a lease after you select a tenant (there is a $30+ fee for the lease)
  • My referral code .disclosure. I do not get any money from TurboTenant, nor am I an owner or investor in the company.
  • They have a referral program where they will send me a $25 home depot gift card for a referral - you don't have to use the referral code

• Stessa
  • Stessa is a website that I use to track all my expenses.
  • It is another free site and you can pull reports
  • You even can upload receipts.
  • Roofstock recently purchased Stessa
  • Completely free

• Zillow Rental Manager
  • I use this to collect rent.
  • Free for the landlord
  • Tenant only pays a fee if they use a credit card to pay rent. ACH is free
  • Takes about 5-7 days for the funds to hit your bank account
• Excel
  • I use an excel spreadsheet to track my check register. You can download a free template online

Other free websites I haven't used.

• Avail.co
• • This is another free website that I learned about this week listening to a podcast (may have been a BP podcast). I haven't used it and cannot speak to it.

• Zibo.com
  • This is another free website where you can collect rent electronically and have an interest checking account.
  • I am still looking at this, because not all my tenants pay electronically. 2 like to mail checks. I haven't looked at how to deposit those - I don't like mobile deposits.

There are many free resources to use before you start paying for services. Out of my 4 rentals, I have placed 2 tenants with TurboTenant - one tenant is on year 3 and the other tenant is on year 2. I listed the properties, took some pictures (they weren't the greatest pictures) and had it rented in a week. I was able to recycle the leases upon renewal and didn't pay any commissions for the rental, which is a savings of over $4,000 if you consider the rental commission to be 1 month rent. I highly recommend it.

Here are some threads you may want to take a read of:

https://www.biggerpockets.com/...

https://www.biggerpockets.com/...