Best management options for a portfolio of 30 properties?

[Clayton Coombs]

Hey guys, my mom has a portfolio of 30 properties (mostly Florida) that's she's been managing for many years. She's getting older & wants to enjoy her time & not have to worry about managing anything anymore. I'm going to help her get some systems in place & find someone to manage the properties for her. Most of these properties are single wide trailers but some are houses. Most of the properties are located within a 10 mile radius. 

I wanted to see what programs you recommend for rent collection & accounting? (She currently has a mess of cash, zelle, checks, etc. & not a good way to track expenses/ rent roll)

What are your suggestions on finding a good property manager? She's afraid of hiring someone she can't trust. 

Thanks for your assistance!

[Nathan Miller]

@Clayton Coombs I would try to get away from any p2p apps right away if she's using them for colleting rent as those can be trouble.  Most property management software solutions are going to include ACH payments and some even have cash payment options where the tenant pays at 711, Walmart, CVS, etc and it electronically deposits into your account.

Here's some software options that I commonly see recommended on BiggerPockets.

The more mature platforms that are designed for landlords include Rentec Direct, Buildium, Appfolio, Propertyware, and Rent Manager. These platforms typically have billing policies where you pay a per unit fee per month to the software and you get regular updates and support each month.  For 30 units, which is a substantial portfolio of properties, you will probably be looking at this group first.

There are a number of low-cost platforms available that are able to offer you a lower price by passing along some of the costs to your tenants (payment processing fees, applications, tenant screening, etc). These platforms include RentRedi, Stessa, Avail, Innago, Apartments.com (formerly Cozy), and TenantCloud.  

Pretty much every platform mentioned contains the features you are going to need. It boils down to which platform's processes, pricing, and support works best for you. The best way for you to figure this out is visit the platforms and explore their free trial (if offered). Run through some of the features you will need like setting up a property, moving in a tenant, receiving rent payments, and publishing online applications.

Pay attention to which platform feels the best to you as you perform these functions. Each platform does it a bit different and you are going to like some more than others. While trying it out, call their customer service and see how they treat you and how knowledgeable they are on their product. Ask their customer service to walk you through the above options if needed.

It shouldn't take more than a couple hours of research to try out the top platforms and identify which feels the best for you. Those couple hours of research will save you hundreds of hours of time down the line, so it's well worth the effort.