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Updated over 5 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Youngstown, OH
2
Votes |
11
Posts

Best Property Management Software -get me off these excel sheets

Account Closed
  • Rental Property Investor
  • Youngstown, OH
Posted

I'm at the point in investment portfolio where excel spreadsheets just don't cut it.   I currently have 26 units and will be acquiring 22 more within the next few months.   I"m sure this topic has been discussed before but i haven't found many helpful posts in my search.

Excel spreadsheets have been good to me for managing my few properties, but as i grow i feel i need to have something a bit more streamlined and efficient with data all in one place.

I've looked into appfolio but it seems like its geared more towards larger property owners and management companies (and  a $250/month cost)   I'm currently trying out buildium and feeling my way around.   

I was looking for any input from other owners about what all-in-one system they use for an investor of my size (25-50 units).

I'm looking for something that 

has a Mobile App where i can input repair orders or notes easily, 

track upgrades repairs and updates for each unit

Easily input rent payments and also process ETF payments (I still have some elderly that prefer cash or paper check)

general accounting of expenses and income

generate or export data and reports since i love data and numbers

general ease of use 

tenant portal for those that want access to digital copies of their leases, view payments, or send repair requests

I'm sure most of the management software out there has most of those things, but i'd like to get some user opinion.

Most Popular Reply

User Stats

2
Posts
1
Votes
Jonathan Rash
  • Accountant
  • Tulsa, OK
1
Votes |
2
Posts
Jonathan Rash
  • Accountant
  • Tulsa, OK
Replied

I personally like Quickbooks Online, as a caveat I am a bookkeeper. 

QBO is able to set up recurring payments with card or ACH transfer. They have a mobile app. They have powerful tools for tracking all of your expenses based on location and type and you can customize this to whatever fits your needs. You can set up your expense accounts to fit whatever needs you have. You can export all different types of numbers as well and this is a short list. When all these are combined you can see how profitable each property is, how much you have in down payments, how much you have in unpaid rents, and so much more. 

They do not have a tenant portal that I'm aware of, though. There might be third party apps that provide something like this, but I haven't looked in a while. 

The downside is that if you're not familiar with it, it can take a little while to learn all the nuances. Isn't necessarily difficult, just takes time to learn how it's all structured. 

Jonathan Rash

Rashional Bookkeeping, LLC

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