Can any property management software do this:

Can any property management software do this:

Investor · Fremont, CA · Member since 2015 · 19 posts · 3 votes

Hi experts.  We have around 70 doors in management, and still running full steam using Excel.  Its become increasingly cumbersome however to generate reports, so thought we'd ask this esteemed forum some advice.  Can any software such as Buildium, Propertyware, Appfolio, etc. do this:

1) Allocate overhead across properties for property P&L?  Also optionally allocate across only subset of properties, e.g. mowing lawn for a duplex, that charge only gets allocated to those 2 doors.

2) Download from bank and credit cards, and then what's the interface for quick bulk tagging - we currently tag each transaction by expensetype and property so thats 2 attributes per transaction, so how long would it take to tag say 100 downloaded rows all at once.

3) Generate monthly journal showing rent payment status by property so we know who hasn't paid and needs followup text and/or a 3 day notice.

4) Separate out management reports from tax reports.  Tax => I can deduct home office internet, but for management reporting I would not include that expense - to give an example.

5) Sepearate historical perspective from current perspective since rents, late fees etc. change over time.

Thanks for any tidbits from your experiences!  Live long and prosper!

P

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  • Investor · Fremont, CA · Member since 2015 · 19 posts · 3 votes
    9y

    PS Bonus points for ability to generate 3-day notices from the software, and ability to dispatch physical letters without manually print/fold/stuff/stamp/mail  (ala mailaletter, click2mail)

  • Tracy StreichPro Member
    Real Estate Broker · Tulsa- OKC Oklahoma · Member since 2017 · 868 posts · 801 votes
    9y

    I was using excel unit I hit about 100 properties.   It will change your life to transition to a PM software.  Appfolio, Buildium and Rent Manager are three of the best out there.   They all have the basics down but each has a little different twist on the features.   They will do free demos.  You can track all payments and expenses as well as generate notices, auto bill late fees and many other things.   Good luck.......full disclosure I use Appfolio

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