All Forum Posts by: Charlie Chelnik

Hello Community,

I have a tenant who wishes to set up automatic reoccurring ACH payments on the rent for their unit. From their bank account into our bank account. Their bank does not offer this service in reoccurring manner. Their bank will mail a check monthly but the preference is to be fully automated and timely (not waiting for the mail and to make the deposit). This would be a great feature for all of our tenants. 

Is anyone able to recommend services that they have used that are trustworthy and remit the money in a timely manner. And do not charge or have minimal charges to provide this feature? I suppose we would and should pay as appropriate. I'm not sure what is appropriate for this service.

I understand there is also property management software that combines ACH payment capabilities with feature with basic book keeping features, perhaps work orders/repair requests, document(lease) archives, leasing/listing features? 

It is time for us to modernize our practices.

We are a fairly basic operator/developer with a few 3-4 unit buildings. Too complicated and feature rich can be a drawback as well.

I was hoping to gather recommendations from the community both for a service that allows automated ACH billing without the additional property management software suite and also services that include these additional features that you might recommend we consider. Please try to suggest products/services that you have used and like. 

Hi Scott,

Thanks for getting back to me. I tested out the rental property calculator. It is very good, not too far off what i'm looking for, and i'm likely to use it until I demo some of the other programs more. I was hoping for some additional features such as sensitivity analysis on variables (such as rent, vacancy, interest rates & comparing amortization terms, expenses such as taxes, maintenance/capex, & rehab expenses),  debt service coverage ratios (you do not split out the interest/principal lines), and a cherry on top would be the ability to present GP/LP or investor splits that I can show potential investors. 

Hello,

I am hoping for suggestions on Real Estate Modeling software that is effective and reasonably priced. 

I would like to model multi family acquisitions 2+ units without too much complexity. The objective is clean presentable outputs. Ideally it will include the ability to look up addresses and import information such as taxes, sq footage, units. I would like also to be able to have sensitivity analysis on key variables such as rent, vacancy, interest rates, expenses, taxes, rehab expenses.. etc. (an upgraded version of what is available on this website) 

 I would also like to be able to evaluate rehab estimates and consider new construction development. I might need a different software program for this? 

If the software has the capacity to evaluate commercial or short term rental/hotel opportunities that would be a plus as well. 

I have been spending too much time working in excel versus searching for new opportunities and would like to be able to consider and present high quality professional reports on projects that are worthwhile. 

Thank you.