Thoughts on PM Software Rent Manager to Buildium and Switching Platforms

[J Newman]

Does anyone have thoughts on these two? Has anyone switched? Our family has used Rent Manager for PM for 20+ years. We have an internal PM. Reviewing the files, I can see that it's not set up correctly and they are using old desktop version, so it's clunky. It's difficult to navigate and not intuitive. I'd like to transition to another software. I've done demos on a few and liked Buildium the best. The leasing manager isn't going to like this change, and then I've got to figure out what to do with 20 years of data that is probably not recorded correctly, but in the end, what's easiest and most accurate is what needs to rule. I'm going to talk to customer support with both companies again, but thought I'd check on any thoughts from those who might have had personal experience with either company or changing programs in general. Thanks in advance!

[Nathan Gesner]

Quote from @J Newman:

Every change comes with a lot of education and frustration. Be sure you've tested the new software thoroughly before making the decision. Make a list of your current frustrations and see if the new software addresses those issues specifically. Are the steps easier? Faster? More accurate? You may find the new software fixes some of your problems, but introduces new ones. 

Here's my basic software testing guide. It sounds like you are already on the right track, but maybe you'll find something useful. By the way, I have used Buildium and it is pretty good software.

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.