Property Management Software

7 Replies

Hello BP community,

At this point in time we have 4 units that we own and manage. We have been relying on Excel heavily for keeping track of everything, which has worked out alright so far but we are continuing to expand. I have heard of very successful investors using software such as Buildium and Appfolio but we are not at a scale yet to make those worth the cost. Does anyone have suggestions for a software that is scalable and cost effective for us at this stage in our investing career? 

Thanks,

Matt 

Do you have a price point in mind?  Some software starts at less than $10 or $20 a month - it's worth starting now instead of having to transfer a large amount of data later.

So curious what you guys ending up doing for software. We are in the exact same position. We are very good with quickbooks. I am using Mike Butler's organizational methods, but still want a management software to help us. 

What did you guys decide?

rick morales

I have your answer!  :)   We use Rentec Direct.  Seriously, it was perfect for us starting out.  It works out to about $4 a property per month.  We have 40 properties and pay under $150 now.  Their pricing scales with the number of properties.  I think they have an "under 10 unit" pricing.  The thing I love about it most is that they have a client facing web portal where tenants pay their rent, and Rentec Direct charges NOTHING (ie no fee) for ACH transactions that they direct deposit into your bank account for you... just a straight up $4ish dollars per month per unit base fee. A lot of others want to charge you a percentage of your rent that they collect.  No thank you!  It does so much more... markets our properties when they are vacant through Zillow affiliate marketing, does background checks, tracks all the expenses, generates billing, lots of reporting, and on and on and on.

I know I probably sound like a cheerleader... but it is my most favorite business asset for my real estate!! Simple, intuitive interface that does what I want, for a cheap price. Definitely worth checking out.

Randy

After countless amounts of research we have landed on Rentec Direct. Glad to hear it's worked for you Randy! We loved all the features it offers. The interface is very basic which is fine with us because we don't need flash. The customer service seems to be outstanding as well. Can't wait to keep scaling the business and have a software that grows with us.

Matt Holt