Self managing landlords 5+ units - Avail alternatives

[Jay Chung]

Hello,

I'm currently self managing close to 10 units and have been using Avail to automate things as much as possible. I'm looking for alternatives as they've been increasing the price and I'm paying close to 70 bucks a month on the software.  I am leaning towards Hemlane or RentRedi for their property maintenance coordination feature. Is there a dominant player out there that does things generally better than others?

[Nathan Gesner]

Quote from @Jay Chung:

Software is a common question on BiggerPockets. Here are some things to consider:

1. Most investors don't need software until they have 5-10 rentals. You only need a place to track tenant information, payment history, maintenance, etc. You can easily do this on a spreadsheet, and it will take less time to track than finding and learning new software. If the software is not simplifying your life or making you more accurate, you shouldn't use it. Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.
2. Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports. Do you need all this for a couple of rentals?
3. There is no perfect software out there. Every system you try will have flaws, or you may salivate over a feature that appears in other software.

Some familiar names are mentioned frequently: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.

I recommend conducting thorough research on each app online to understand their offerings, pricing, etc. Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements. Try to narrow down your options to the top 3-4. Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function. Perform the same task in each app to ensure a fair comparison.

• Load a property with pictures and details.
• Market that property.
• See what your marketing looks like from the public's perspective.
• Submit a fake application to see how easy the process is.
• Run a credit/screening report on yourself.
• Enter a maintenance request, assign a vendor, and attach a fake invoice.
• Enter charges to the tenant's ledger.
• Enter recurring charges and automatic late fees.
• Sign documents electronically.
• Run owner reports.

After testing a few apps, one should clearly stand out. It's important to choose that one and commit to using it. Remember, no system is perfect, so avoid the temptation of constantly chasing after the next shiny object. You should only consider switching when your current software has a significant flaw or lacks features that force you to spend excessive time on workarounds. At that point, it's worth researching and finding a solution that better meets your needs. 

[Mary Smith]

@Jay Chung I agree with everything Nathan mentioned. It's important for you to test out a few softwares to see what meets your business needs best.
We've been using Innago for years and we love their platform. It makes rent collection a really easy process for us and we love that it's free and still offers so many landlord friendly options.

[Larry Tracy]

Mr. Chung

I would like to speak with you concerning your current setup and what the advantages of self managing compared to using a property manager. I am very owner friendly and provide custom property management setup for your portfolio and investment goals. I am available at your convenience.

I sincerely enjoy providing property management and real estate information.

[Calvin Thomas]

Quote from @Jay Chung:

Hello,

I'm currently self managing close to 10 units and have been using Avail to automate things as much as possible. I'm looking for alternatives as they've been increasing the price and I'm paying close to 70 bucks a month on the software.  I am leaning towards Hemlane or RentRedi for their property maintenance coordination feature. Is there a dominant player out there that does things generally better than others?

 Switch to Apartments.com.  It's free.  You'll thank me later.