Management software??

[Caleb Charles]

Greetings All, I am a new member to BP. I am a multifamily real estate investor from Randolph, MA. My company also invest in commercial multifamily properties while providing conservative returns for investors. I have a question in regards to management software for personal rental property. I have now terminated my managers, and my investment company will become the manger for my small properties. What software can I use that is efficient and allows me to keep track of revenues and expenses? (I know that broad question) I know of rent manager and quick books, but is there any other software or apps that I can use? I was just at Bank of America in the process of opening another expense account but they informed me rather than opening another expense account they have a platform that allows me to mange everything. This platform is called account management and basically eliminates my bookkeeper. Has anyone used this software? If so, how well does it perform. It seems like you have to go in and separate everything constantly. Also, how are you guys making your tenants pay? I found an app the tracks payments from the time they mail the check until the time it arrives to you. I can't recall which app that is. Does any know? Your help as savvy real state investors is bet appreciated. Regards, Caleb

[Nathan Gesner]

@Caleb Charles software is discussed heavily in the forums. Go to the search bar up top and search for "property management software" and your eyes will bleed.

Cozy.co and TenantCloud are two of the more popular options. They are both free for Landlords with small charges if you want some additional features. I think TenantCloud lets you manage 150 units and accept online payments for $10 a month. Both options include a ton of features like property marketing, online applications and screening, online payments, maintenance tracking, owner reports, and more.

If you have fewer than 50 units, I recommend trying one of these. If you have more than 50 units, I recommend Buildium as a more professional option.