App/Services for Landlords

[Shawn Tuma]

Apologies if this was asked previously, didn't see anything lately on the forums. I'm planning on closing on my 1st MF property by the end of the year. Is it worth having tenants use a 3rd party service/app for collecting rent, doing maintenance requests, etc? Or is it easier & wiser to just have payments sent to my LLC's account & having the tenant text/email me in regards to property issues? If the former is easiest, what service/app do y'all suggest using?

[Tim Delaney]

That depends on how many units are in your MF, what your longer term goals are and what kind of lifestyle you want.

If there are a lot of units or you plan to have a lot of units in the future then invest in setting up good systems now. RentRedi is free to BP Pros and is a good place to start. There are other free services out there as well.

If you only have a couple units and that is all you want and you never plan to hand off property management then you can probably just collect checks and have tenants text you.

Personally I don’t like tenants texting me issues, they are too easily missed or forgotten about. When they enter them into RentRedi they stay there until they are resolved and my partner can see them immediately as well.