All Forum Posts by: Blaine Alger

Ali,

Thanks for the advice, I will definitely try to get in contact with a Property Manager.

Your situation exactly what I am afraid of. With no other rentals nearby it makes me think that people would prefer to buy in this neighborhood rather than rent. However, there is also the other side of the argument that suggest that since there are no other rentals the demand for your property would be even higher, like @John Underwood suggested.

Do you mind sharing some of the other underlying reasons you believe this property had that contributed to its low rentability?

@Mark F.

Wow that is crazy that he came out and said that. I figured that they were just behind the curve on and they would be coming out with one eventually. It would seem to me that if they were able to translate their easy-to-use platform to an app, there would be nothing but upside.

In regards to the rent collection, are you able to tell if your tenant has paid by the 1st through your side of the portal or do you have to wait until it shows up in your bank account to know that your tenant has paid?

Thanks for the Input John.

Would you be concerned that there are no other rentals in the direct area?

That kinda makes me think that there is no rental demand for the neighborhood.

@Mike McCarthy

Well so far it seems that Cozy is the resounding winner. Even though that Tenant Cloud has additional features, the simplicity of Cozy is what gives it an edge. 

Thanks for the response.

Julie, 

I have not read into that much, but I saw something on the Cozy site that mentioned there is a couple day lag between when you receive rent and actually see it in your bank account. Is this a problem for you at all?

Thanks for the input Scott. 

From what I have seen from this thread, it seems like Cozy is definitely the favorite in the eyes of the tenants.

Is there anything that you noticed from the landlord perspective when switching  over? Is it difficult not being able to manage tenants through your phone like you could do with the Tenant Cloud app?

@Satyam Mistry Thank you for your response. From what I have seen, the ease of use of the platform seems a big positive for both tenants and landlords and I have also heard that their customer support is very responsive. It's good to know that they are continuing to improve by rolling out new features.

I have been doing some research recently on property management software and I was curious to see what the BP community thought on the subject. From my initial finding's it seems that Tenant Cloud and Cozy are the main ones that landlords prefer to use.

I would like to hear your opinions on the pros/cons of both and which you prefer to use in your business.  

(So far, I have come to the conclusion that both products have great user interface, however I believe Tenant Cloud has a leg up due to the ability to manage on the go from your smart phone.)

Can't wait to hear your thoughts!

When I was home for spring break, I started to do some research on a house down the street from me that has been vacant for a couple years. There is some work to be done, but it looks like it would be a perfect little rental house with a few cosmetic repairs.

The only thing I am skeptical of is the neighborhood. It is not in a crime zone or anything like that, but it is just an older neighborhood with mostly owner occupied homes. I just don't know what the demand would be for a rent house in this particular area. 

What are some tools you use/things you look for in a neighborhood to determine if it would be a good area to invest in?

What is your favorite platform/ website you use to run reports on potential tenants and why is it your favorite?

The only one I can think of off the top of my head is Experian, but I have little experience using it.