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Updated over 7 years ago on . Most recent reply
APP OR SOFTWARE TO MANAGE RENTED PROPERTY
I have a full time Job while I invest on Rental properties, and although I get support from by broker and Accountant, I like to track what's going on on my properties. In general, chek if utilities are paid for, land taxes, contract ending dates or renovation, maintenance dates, etc
I would like to know if someone is using an App or Software to do such (instead of only excel sheet) and if you can share your experiences you had with it.
Most Popular Reply
Truerent at $10 a month for up to 40 house. Direct and to the point software program. Does not have the thrills of some of the others. But it does allow for tenant portal and tenant payment (extra$) but well worth it if you need it. I've been using it for the past year with 4 rentals and haven't found anything as good for the price.
Goodluck and don't forget to vote
Truerent at $10 a month for up to 40 house. Direct and to the point software program. Does not have the thrills of some of the others. But it does allow for tenant portal and tenant payment (extra$) but well worth it if you need it. I've been using it for the past year with 4 rentals and haven't found anything as good for the price.
Goodluck and don't forget to vote
There's a lot of threads on this very same topic here, so you'll get tons of opinions as you look around these forums. My vote goes to Rentec Direct's property management platform and I've tried most of them out there. It'll handle all your property/tenant accounting and make things a lot easier than excel (also how I started). Also, it gives you a simple schedule-e based report when it comes time to file your taxes so tax time becomes a no brainer. You can also just give your broker and accountant their own logins if they are that involved, so you don't even have to trade paperwork around. They have a free option for anyone less than 10 properties, but their paid products are well worth it and pay for themselves. They also include tenant screening and allow tenants to do ach and credit card payments. I think you would love it.
http://www.rentecdirect.com if you wanna check it out.
I use RentPost it is $9 per month for up to 10 rentals. Has a 30 day free trial. Has ACH/credit card payment for extra fees.
I was using Buildium, but I just couldn't figure it out and it had many features that I know I would not use.
Most property managers use Appfolio or Buildium but I don't like that they can put hidden fees in there. If you are self-managing or getting less than full service, try Hemlane.com.
Many Thanks to all. So far grate recommendations and I will be trialing the free 30 days for some of them and get back to you and let you know my opinion.
@Federico Cantero - I'm not sure how many properties you manage but in my opinion some of the bigger ones are just too big for me. I manage SF and MF homes (under 20 units) and found that rentigo (www.rentigo.com) does the job just fine with a lot less hassle. I had an issue in the past trying to convince tenants to pay me online and I find the sell is a lot easier with Rentigo (i tell them they can open maintenance tickets on their app and send me pics of issues and voila - everyone is using the app and paying rent online and on time!)
Thanks Ashley. I will chek out this option. So far we have 4 individual rentals.
tenantcloud.com and cozy.co look really good as well. There are a lot of options out there.
@Federico Cantero I see that you are using rentigo and I am thinking of using them too. My question is do I have to have an business entity to do it. When I tried to sign up it asked for EIN/Tax ID number. I have been using a property manager on my other properties but have 2 now that I would like to self manage. Not sure if I should create an llc property management company???
Wendy. Thanks for your question. I have been trialing all of the Apps and software mentioned on this Post, one by one. I must say that I have not yet started my account on Rentigo, so I dont have an opinion yet over this software . Ashley (one post befo my last) is the person that is recommending me the software. Ashley can you gave Wendy your opino over her question?
@Wendy Carbone &
@Ashley Ben
@Federico Cantero let me know how you like them. I'm using them for less than 20 units too. I'd be interested in seeing the experience of a big time user (you know.. homeowner goals!)
@Wendy Carbone - I think it's always best to be protected. I think you can chat with their support and they can probably help you set up a sole proprietorship account. I know I had to give them my TaxID but it's because of the payment processing...
@Nate Nook, I must say that so far I have 4 doors and still using Excel sheets. Y tried (the free version) some of the options mentioned and I found more interesting https://www.appfolio.com/ So once I hit some 7 doors I think I will suitch to this option.
Federico, thanks so much for the insight!
I know what you mean about excel, it is ok. I appreciate you telling me which app you liked the best (appfolio.com)
So far I have been using Tenant Cloud now for 7 properties and So far so good. My tenants are OK using the App on their phones, the people working as Maintenance, Landscapers and else are already used to it so my thumbs up for this App. I would definitely recommend it.
