Property management software

[Italia Coleman]

I've come to the point where I need a really good, yet simple, property management software. Currently I have 7 investment properties in the Dallas / Ft. Worth area. I'd love to hear some reviews and/or advice from what you all have experienced with these different properties management software options. Also, are there any good apps that can keep track of the time spent on real estate for tax purposes (i.e.: taking calls, showing the property, negotiations). Thanks in advance!

[Account Closed]

I use TenantCloud. It has great features, but also lacks a lot. I will give you a quick rundown.

PROS

-Posts listings to 20+ websites

-Great free marketing website for your listings

-Mobile App

CONS

-Accounting is lacking. I still use Excel sheets instead of software.

-Setting up accounts and payments is a difficult and confusing process according to my tenants

Overall, it has a neat presentation and I can't give it enough praise for its marketing websites and how it pushes listings out to a ton of websites (except craigslist). The mobile app is still a bit buggy, but allows me to work on the go. The application process is pretty simple and allows Tenants to pay for their own credit/BG checks, which seem pretty accurate (I mention this because its competitor, cozy, has been known to sometimes be less accurate). Their developers and team are also very open to feedback and what not. I sometimes send in ideas and get responses back from the developers themselves which is awesome. It is an improving product.

However, it lacks in a couple areas. First off, I believe Cozy to be more user friendly. For TenantCloud, you first have to add the Tenant to the system, then send an email for them to set up the account, then once they set up the account they have to set up a payment account (which is a very complicated process). I almost always have tenants ask me for help with it (luckily their help section on the website is very informative). They advertise TCPayments by Dwolla as their big selling point for their $9/mo subscription plan. No transaction fees and unlimited transactions for landlords and tenants, sounds pretty nice. However, it is a pain in the butt to set up (just based on my experience and according to my tenants). I always have to tell tenants to set up the account well in advance before their rent is due, otherwise it won't be ready in time to pay it, as it takes a few days to set up. Yes... I said days. Also, the accounting is very basic, however that seems to be the trend with all property management software.

With that being said, I still consider TenantCloud to be one of the better property management software products on the market today. There is a free tier which can get you a majority of the features, but I pay a small $9/mo fee for TCPayments and E-sign leases. I would recommend you give it a try and see how you like it, also don't be afraid to try out Cozy too. Each has their pros and cons.