All Forum Posts by: Jasmine Delves

I'd recommend using purpose-built property management software that has rental accounting features built in! That way, you can set up each property/tenant/unit, income and expenses, link your bank feeds, generate reports but also use additional features like online rent collection and tenant screening. 

Another vote for TransUnion's SmartMove!

Another vote for self-management! PM software will allow you to automate online rent collection and late fees and set up income and expense tracking, tenant screening, and more. 

Of course you can still hire contractors for big maintenance jobs and things that you aren't able to do. But for the most part, you'll probably be surprised at how easy it is to manage things yourself (assuming you have the capacity and willingness to do it!). 

The right software will also scale with your portfolio, if that is something you're hoping to aim for in the future. It will require a little more effort than hiring a property manager but will be significantly less work than relying on spreadsheets.

I'd use property management software rather than the likes of Zelle or Venmo. That way, you don't have to accept partial payments and can set up automatic reminder emails (before or after the rent due date) and also automate late fees.

The other benefit is that you can then take advantage of additional features like tenant screening, receipt scanning and financial report generation. 

Another option (similar to RentSpree) is TransUnion's SmartMove. You can invite your prospective tenants by email, then they have to fill out a short application. From there, you will be sent a tenant screening report that outlines the credit score, criminal history and eviction history. 

It's a very straightforward process that will give you peace of mind/help you decide on the best tenant.

Another vote for property management software! I'd recommend looking for one that has accounting capabilities if you also want to manage that yourself (as in, features like income and expense tracking, reporting, and linked bank accounts).

There are so many options out there so like someone above said, you should find and choose the one that suits your portfolio but will also allow you to scale in the future (using the features that matter most to you).

TransUnion's SmartMove

There are lots of good property management software out there that have built-in accounting features. You can link your bank feed, automate income and expense tracking and generate reports, etc. 

Plus, you can take advantage of additional features like online rent collection and tenant screening. It's worth looking into!

Another option to look into is purpose-built property management software that is integrated with accounting software like Quickbooks or Xero. That way, you are able to take advantage of all of the industry-specific features (like online rent collection, tenant screening, etc.) while automatically mapping all of your categories, properties, bank accounts, etc. to the accounting software. 

I don't have any personal experience with using Apartments.com but have used other similar property management apps and can vouch for their legitimacy! It's great to be able to automate online rent collection, plus take advantage of additional features like tenant screening and accounting.