BiggerPockets

I do not like the Quicken Rental Property...it's much too simple for my taste. I work a lot with QuickBooks (at my day job) and have been using a version of that at home for our rental property...but we only have 1 right now. Something else will be needed when we start adding to our portfolio.

Hope that helps.

Gita,

Thanks for all that info! Setting up QB is the hard part. I have done some of what you mentioned, but not all of it. Very useful information.

Tony,

That's my feelings as well. But I have been thinking about setting up an Access database for the aspects that QB wouldn't cover, such as greater detail on tenants and maintenance on properties, etc.

Originally posted by Kari M.

Tony,

That's my feelings as well. But I have been thinking about setting up an Access database for the aspects that QB wouldn't cover, such as greater detail on tenants and maintenance on properties, etc.

Using Access (as contact relationship management software i think) sounds like a good idea to me. I use QB Pro and am aware of the limitations it poses in terms of the management side of a rental property business. I have two main concerns:

I want to be able to access my records from anywhere via the internet. I have two offices (home and work) and I am on the road constantly. Lugging around paper records via a "mobile office" is inefficient. I want to be able to call a tenant or see if they have been late with rent recently from anywhere.

I want the software to integrate with QB Pro. I hate double work. This I am willing to compromise on.

Do you think you can code a database in Access that will work with QB pro?? Can you get at your database remotely via the web?

-Kirk

This is a great topic. I track pretty specific types of investments, so my programs are pretty focused on the type of property. For my mobile home parks, I use a program called Park Side Kick. It tracks the day to day happenings in the park, and also does the more complex billing that quick-books does not do. Like water bills, sewer bills, electric bills etc. Because these are ever changing due to consumption, they can be tricky to figure out. It also does all of my tenant billing, with mail or email. I still enter the big numbers into quick books, as quick books is great at tracking the income and expenses of your business.

I also use Notesmith to track payable notes to me. If your tracking interest, a program that really understands how interest is tracked is essential. I use this for notes that are payable to me, and when I purchase properties on owner financing, I track my payments to the seller as well. It produces 1098's, 1099's and will electronicly connect with the IRS to transmit your data.

I see posts on quick books set up... there are many 'guru' types that sell accounting courses and many of those will give you the category's pre loaded on a CD. you will need quick books to open the template, but all of the accounts are there. I use the program from John Hyre, The real estate investors kiss guide to bookkeeping. John is a CAP, an Attorney and practices real estate investing, as well as a accounting practice and practices law. I have met him a couple of times, actually had breakfast with him before a seminar he gave in Denver. He is very sharp and the real deal. His stuff is very easy to follow. His web site is www.realestatetaxlaw.com
I have no dog in the hunt to endorse any of the programs I have mentioned here, if there was a better program I would switch in a New York second.