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Re-Leased Property Management Software: BiggerPockets Review
May 29, 2020
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Re-Leased is designed for commercial and mixed-used landlords and property managers with large portfolios and a lot of information and communications to track.
Quick facts
AUTOMATED AND COHESIVE WORKFLOWS
According to their website, Re-Leased “brings your accounts, lease management, inspections and maintenance, accounting, compliance management, tenant communication, document storage, and reporting into one unified system,” storing tenant, property, and portfolio info all in one place. One of its main draws is its automated workflows, including invoicing, sending emails, and notifying tenants of arrears.
According to their website, Re-Leased “brings your accounts, lease management, inspections and maintenance, accounting, compliance management, tenant communication, document storage, and reporting into one unified system,” storing tenant, property, and portfolio info all in one place. One of its main draws is its automated workflows, including invoicing, sending emails, and notifying tenants of arrears.
ALERTS
It also offers alerts for critical events, task notifications, and a hub for maintenance and inspection. The smart dashboard calendar automatically populates with action items, including rent reviews, lease expiries, health and safety compliance, and property inspections, all viewable in one place. Reminders and alerts systems also include calendar integration for Outlook 365 and Google Calendar.
INVOICING
It will automatically create rent and expense invoices, sending them to both you and the tenants—although you cannot collect rent through the platform. Arrears and budgets are also accessible with a click. The system enables collaboration across teams as well as with tenants and tradespeople. It automatically requests and accepts trade quotes, provides document storage and security, and offers both email and SMS communication functions.
ACCOUNTING
Its accounting software enables fee automation and creditor prioritization, as well as automatic transaction matching and reconciliation. Data exports to Excel (.csv) or PDF. It also includes month-on-month performance reporting, live profit and loss statements, live actual vs budget reporting, and task tracking for compliance and lease events. Users can:
- Create repeating invoices, credit notes, and both single and bulk disbursements
- Manage unlimited trust accounts
- Automate fees and payments to owners and creditors
- Generate more than 60 types of financial reports, including performance, status, tenancy, property, portfolio, and team performance reports.
MIGRATION
Ready to switch to Re-Leased? In order to make adapting the software as easy as possible, Re-Leased will migrate your data from your old platforms and provide onboarding training for your team, as well as ongoing 24-hour support.
Pricing
Re-Leased does not list their pricing on their website, but you can fill out a form to request a quote or callback on their website. Pricing varies for every client, based on size of portfolio, number of tenancies, amount of rent roll, accounting system, and chosen level of access.
Pros and cons
PROS
- Integrates with the cloud-based accounting software Xero to simplify and even automate bookkeeping.
- Offers lots of other integration partners.
- Cloud-based nature of product means that data is accessible by all team members.
- Reviewers on Capterra praise the helpful customer service team and ease of use.
- Capterra reviewers also like the wide variety of functions available, storage capabilities within features like Notes and Documents, and various process automations.
- If you love them, you can become a referral partner and earn a commission from any successful referrals.
CONS
- Capterra reviewers mentioned that they would prefer more vacancy info in reports as well as more report customization options.
- One user also expressed frustration about the inability to merge multiple properties into a single tenancy.
- Some had complaints about the maintenance function.
- Other reviewers were displeased by the fact that documents must be downloaded in order to view them, rather than having a preview function available.
- Setup can be time-consuming.
- Re-Leased is on the higher end of the pricing market, so it may not be worth it for smaller portfolios or users who don’t take advantage of its many functions.
Re-Leased and real estate investors
Re-Leased describes itself as a cloud-based property management software for property managers, owners, and investors. It covers commercial property, co-working spaces, mixed commercial/residential, HMO/multifamily, student accommodation, and retail/office/industrial properties.
The main dashboard is accessed through your browser—it's most compatible with Internet Explorer, Firefox, Chrome, and Safari—and you can also access it via a mobile app. Re-Leased boasts the ability to “access your data anywhere, anytime and on any device.” It also offers integration with a variety of other popular services, including Xero accounting software and Google Calendar.
Re-Leased is designed primarily for landlords and property managers of commercial and mixed properties. It’s a fairly hefty software that will likely be most useful for people managing multiple properties, with multiple moving parts. According to their website, their current client list includes Century 21, Harcourts, Magnetic Capital, Imwalle Properties, and Auger Properties.
The main dashboard is accessed through your browser—it's most compatible with Internet Explorer, Firefox, Chrome, and Safari—and you can also access it via a mobile app. Re-Leased boasts the ability to “access your data anywhere, anytime and on any device.” It also offers integration with a variety of other popular services, including Xero accounting software and Google Calendar.
Re-Leased is designed primarily for landlords and property managers of commercial and mixed properties. It’s a fairly hefty software that will likely be most useful for people managing multiple properties, with multiple moving parts. According to their website, their current client list includes Century 21, Harcourts, Magnetic Capital, Imwalle Properties, and Auger Properties.
As for residential users, according to Re-Leased’s website, “While Re-Leased is primarily set up to handle commercial property, we’ve made sure residential users have all the features they need. The system is especially useful for residential property owners who manage a medium to large portfolio.”
While those who own only a few properties could potentially still find the software useful, they may also find it to be significantly more than they need.
Re-Leased not for you? Read more property management reviews.
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