I am looking to purchase a property management software to help with operating a 5 plex. I have heard of one called Buildium. Is there a software system that you recommend and that is reasonably priced and that is user friendly?
I have been looking at Tenant Cloud as well as Cozy. With Tenant Cloud it is $9 per month to receive online payments and with Cozy its free. Other than that I really do not know the benefits of each.
I just helped my parents get a house rented out and realized how unorganized I am.
I looked at appfolio, but they require a minimum of 50 units... I have 2 ( 5 if you count extended family ).
Is there any software that will take applications online? Long ago I would collect social security numbers to run background checks and I am not going back to that. Recently I used SmartMove (TransUnion) to complete background checks by sending emails through the site to the applicants.
Anyone using either locally installed or onlin software to manage a small number of units?
I use Cozy to manage my rentals. I absolutely love it. It is free. It is very easy to use (for both landlord and the renter). It is really easy for tenants to apply, and they pay the background check fees directly to Cozy. They can easily set up recurring payments. You can also go in and add expenses and other information to generate reports, although I do that separately so I can't give feedback as to how they work. It's also a bonus to tenants because it automatically reports to their credit report, so if they pay on time it will help their credit score. :)
The only downside to Cozy is that it takes 7-9 days for the money to get to your account. You can see the day that the tenant pays rent, so it would be easy to see if someone was late. I think you can pay to have payments processed more quickly though.
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