What tools are you using for your rentals?
Rene HosmanPro Member
Rental Property Investor Ā· Denver, CO Ā· Member since 2024 Ā· 583 posts Ā· 653 votes
What tools are you using for your rentals?
Most Popular Reply
Member since 2019 Ā· 5 posts Ā· 7 votes
10moHey Rene,
Just filled out the survey - great timing on this!
One tool I wish existed (and am actually building right now): contractor invoice auditing software.
I manage a small portfolio and kept getting burned on maintenance costs - contractors charging $950 for $549 water heaters, padding labor hours, duplicate fees everywhere. I was approving invoices because I didn't have time to Google every line item.
Built a system to audit bids line-by-line against real material costs + local labor rates. Tested it on my last 15 invoices and found I was overpaying by an average of 22%. On one $2,300 bid alone, found $667 in overcharges.
For the survey: I'd love to see BP partner with tools that help us catch contractor overcharges BEFORE we approve the invoice. Most deal analysis tools are great, but the real money leaks happen during the hold period on maintenance costs.
Curious - does anyone else here struggle with knowing if contractor bids are fair? Or do you just approve them and hope for the best?
I'm testing my tool on a few more invoices if anyone wants a free audit - just trying to validate if this is a real pain point or just me being paranoid about costs. š
Bradley
36 Replies
- Member since 2019 Ā· 5 posts Ā· 7 votes10mo
Hey Rene,
Just filled out the survey - great timing on this!
One tool I wish existed (and am actually building right now): contractor invoice auditing software.
I manage a small portfolio and kept getting burned on maintenance costs - contractors charging $950 for $549 water heaters, padding labor hours, duplicate fees everywhere. I was approving invoices because I didn't have time to Google every line item.
Built a system to audit bids line-by-line against real material costs + local labor rates. Tested it on my last 15 invoices and found I was overpaying by an average of 22%. On one $2,300 bid alone, found $667 in overcharges.
For the survey: I'd love to see BP partner with tools that help us catch contractor overcharges BEFORE we approve the invoice. Most deal analysis tools are great, but the real money leaks happen during the hold period on maintenance costs.
Curious - does anyone else here struggle with knowing if contractor bids are fair? Or do you just approve them and hope for the best?
I'm testing my tool on a few more invoices if anyone wants a free audit - just trying to validate if this is a real pain point or just me being paranoid about costs. š
Bradley
- Severna Park, MD Ā· Member since 2013 Ā· 7k+ posts Ā· 7k+ votes10mo
Quote from @Brad Phillips:
Hey Rene,
Just filled out the survey - great timing on this!
One tool I wish existed (and am actually building right now): contractor invoice auditing software.
I manage a small portfolio and kept getting burned on maintenance costs - contractors charging $950 for $549 water heaters, padding labor hours, duplicate fees everywhere. I was approving invoices because I didn't have time to Google every line item.
Built a system to audit bids line-by-line against real material costs + local labor rates. Tested it on my last 15 invoices and found I was overpaying by an average of 22%. On one $2,300 bid alone, found $667 in overcharges.
For the survey: I'd love to see BP partner with tools that help us catch contractor overcharges BEFORE we approve the invoice. Most deal analysis tools are great, but the real money leaks happen during the hold period on maintenance costs.
Curious - does anyone else here struggle with knowing if contractor bids are fair? Or do you just approve them and hope for the best?
I'm testing my tool on a few more invoices if anyone wants a free audit - just trying to validate if this is a real pain point or just me being paranoid about costs. š
Bradley
So you think a plumber charging $400 labor to replace a water heater is high ? Thats actually a cheap price . How does one determine that labor hours were padded ? Was someone there clocking in the contractors . And there is no local labor rate , professional contractors generally speaking dont quote time and materials , They provide a price for a finished job . Some repairs are time and materials , and yes , just like any other business contractors mark up materials , and the time spent to get those materials is billed . Thats normal business practice .
I just recently gave a customer a quote for a bathroom , he said my price was high and showed me where AI said it should cost between X and Y . I kinda laughed and told him you should hire this AI guy since they are so cheap . Google cant tell you what a contractor costs because contractors dont give google their prices .
Contracting is a business , set to make a profit , not just to pay wages .
- Definitely have to agree with Matthew on this one. If I am a contractor and a client referenced an app/ google/ AI to second-guess my pricing or got into the weeds with me about every single line item on a job asking me for discounts, that would be a major red flag and I would not want to work with that person, or I would just charge them more for being annoying. I try to build good relationships with quality contractors personally, by treating them well and helping to make the job go as smoothly as possible for them, not squeezing them so that they donāt make any money or nickel and diming them over stupid little stuff. That seems penny wise and pound foolish. You will end up working with lower-quality contractors who arenāt in high demand this way, and paying for jobs twice because they donāt get done right the first time. Being cheap can end up costing you more in the trades this way.
Quote from @Matthew Paul:
Quote from @Brad Phillips:
Hey Rene,
Just filled out the survey - great timing on this!
One tool I wish existed (and am actually building right now): contractor invoice auditing software.
I manage a small portfolio and kept getting burned on maintenance costs - contractors charging $950 for $549 water heaters, padding labor hours, duplicate fees everywhere. I was approving invoices because I didn't have time to Google every line item.
Built a system to audit bids line-by-line against real material costs + local labor rates. Tested it on my last 15 invoices and found I was overpaying by an average of 22%. On one $2,300 bid alone, found $667 in overcharges.
For the survey: I'd love to see BP partner with tools that help us catch contractor overcharges BEFORE we approve the invoice. Most deal analysis tools are great, but the real money leaks happen during the hold period on maintenance costs.
Curious - does anyone else here struggle with knowing if contractor bids are fair? Or do you just approve them and hope for the best?
I'm testing my tool on a few more invoices if anyone wants a free audit - just trying to validate if this is a real pain point or just me being paranoid about costs. š
Bradley
So you think a plumber charging $400 labor to replace a water heater is high ? Thats actually a cheap price . How does one determine that labor hours were padded ? Was someone there clocking in the contractors . And there is no local labor rate , professional contractors generally speaking dont quote time and materials , They provide a price for a finished job . Some repairs are time and materials , and yes , just like any other business contractors mark up materials , and the time spent to get those materials is billed . Thats normal business practice .
I just recently gave a customer a quote for a bathroom , he said my price was high and showed me where AI said it should cost between X and Y . I kinda laughed and told him you should hire this AI guy since they are so cheap . Google cant tell you what a contractor costs because contractors dont give google their prices .
Contracting is a business , set to make a profit , not just to pay wages .
People need to realize the limitations of technology. How would a computer program/ app/ AI/ google possibly know the correct price for specific work completed or even materials? You will maybe get a ballpark range but I wouldnāt trust anything computed this way as anything more than a wild guess, and you will annoy people and ruin relationships if you try to pretend itās anything more than that. - Member since 2019 Ā· 5 posts Ā· 7 votes9mo
Quote from @Matthew Paul:
@Steve K.
I actually agree with about 90% of what you both said.
Iām speaking as a contractor and business owner myself. I know firsthand that overhead, insurance, truck maintenance, and warranty reserves are real costs. A contractor who doesn't make a healthy profit goes out of business, and then my warranty is worthless.
That is exactly why HawkAudit isn't a 'race to the bottom' tool.
Our algorithm actually builds in a 20-30% profit/overhead buffer on top of material and labor costs. We aren't flagging someone for charging fair market rates. We are looking for the egregious outliers that give our industry a bad name.
I want to clarify what HawkAudit actually does, because I think there's a misunderstanding:
We're NOT:
- Questioning every line item
- Using "AI estimates" to lowball contractors
- Encouraging clients to nickel-and-dime on legitimate costs
- Telling contractors what they should charge
We ARE:
- Identifying duplicate charges (like being billed twice for the same attic debris removal)
- Flagging vague line items that could lead to scope disputes later ("touch-up entire unit" - what does that mean?)
- Catching math errors and inconsistencies
- Helping clients understand what they're paying for
Example from the audit I just did:
- Contractor charged for debris removal 6 separate times AND a $375 dumpster rental
- That's not about profit margin - that's about clarity - Member since 2019 Ā· 5 posts Ā· 7 votes9mo
Quote from @Matthew Paul:
Matthew, you said "contractors don't quote time and materials, they provide a price for a finished job" - I completely agree. But when that finished job includes redundant charges or unclear scope, both parties lose. The contractor looks bad, and the client feels cheated.
The goal isn't to squeeze contractors. It's to catch honest mistakes before they become disputes.
Good contractors with clear, honest bids have nothing to worry about. If anything, this weeds out the bad actors who make the whole industry look sketchy.
Would love to hear your thoughts - if a client came to you with questions about duplicate line items, would you rather they ask upfront, or dispute the invoice after the work is done? - Severna Park, MD Ā· Member since 2013 Ā· 7k+ posts Ā· 7k+ votes9mo
Quote from @Brad Phillips:
Quote from @Matthew Paul:
Matthew, you said "contractors don't quote time and materials, they provide a price for a finished job" - I completely agree. But when that finished job includes redundant charges or unclear scope, both parties lose. The contractor looks bad, and the client feels cheated.
The goal isn't to squeeze contractors. It's to catch honest mistakes before they become disputes.
Good contractors with clear, honest bids have nothing to worry about. If anything, this weeds out the bad actors who make the whole industry look sketchy.
Would love to hear your thoughts - if a client came to you with questions about duplicate line items, would you rather they ask upfront, or dispute the invoice after the work is done?Then thats up to the client to read thru the contracts scope of work and terms and conditions BEFORE they hire the contractor .
For property managment I've been using UnitHub lately - its got some AI features that help with lease extraction and categorizing maintenance requests which saves a bunch of time. The expense tracking is solid too, makes tax time way less painful. They have a free tier so was easy to test it out before committing. Always on the lookout for tools that cut down on the admin work
- Real Estate Agent Ā· Nashville, TN Ā· Member since 2015 Ā· 2k+ posts Ā· 2k+ votes10mo
WOuld love to see the survey results once done so we can get ideas.
- Just completed the survey! Excited to see what tools and partnerships you bring for real estate investors. Thanks for including us in the process!
Quote from @Rene Hosman:
Hi everyone!
The team is conducting a quick survey to learn more about the tools and platforms you use in your real estate investing, from finding and analyzing deals to acquiring and managing properties. What tools are you using? What tools do you love? What kinds of tools would you like to see?
If you have a minute, please let us know by taking the survey here! Your response will help determine who we partner with in the future!
It would be a huge help to us, so we can work to figure out what is best for y'all and bring you the best partnerships possible to help your investing journey!
- Investor Ā· Costa Mesa, CA Ā· Member since 2016 Ā· 1k+ posts Ā· 1k+ votes10mo
Mostly a hammer and screwdriver.
- Rental Property Investor Ā· Somewhere over the Rainbow Ā· Member since 2021 Ā· 1k+ posts Ā· 1k+ votes10mo
Quote from @Eric Gerakos:
Mostly a hammer and screwdriver.
Exactly what I said and my post was removed
- Contractor Ā· Granbury, TX Ā· Member since 2015 Ā· 14 posts Ā· 11 votes10mo
@Brad Phillips I have been a contractor for most of my adult life! I own a commercial masonry business in one part of Texas & I own a mix of real estate in 4 cities in Texas. I also do Design/Build General Contracting BUT I am 100% with you! I deal with this with subs right all the time. I will say getting 3 OR MORE bids is always ideal but not always doable especially in smaller towns thatās why I agree that there is a need for something like you are talking about. I have been working with several Agentic AI apps that have allowed to expand on some good core ideas sort of around something like this as well but Iāve had to sit that aside over the last several weeks for a host of various reasons! But Iām interested to know how yours turns out! Be sure to let us know.
- Member since 2019 Ā· 5 posts Ā· 7 votes10mo
@Jason Moore - Really appreciate this! The contractor perspective is invaluable. I'd love to hear more about the AI apps you've been testing and what's worked vs. what hasn't. That would help me avoid building the wrong thing.
Sending you a DM now with details on how to submit an invoice for the free audit. Would also love to chat more about your use case - sounds like you might need something more robust than a one-off audit tool.
- Member since 2024 Ā· 7 posts Ā· 2 votes10mo
I started with TurboTenant to manage from out of state.
- 10moJames JonesPro MemberInvestor Ā· Collierville, TN 38017 Ā· Member since 2017 Ā· 734 posts Ā· 542 votes
Rene, appreciate you putting this together. Tools make or break your workflow once youāre past a handful of doors.
For our portfolio, hereās whatās been most effective:
ā¢ Deal analysis: BP calculators early on, now supplemented with our internal underwriting model
ā¢ Property management: Buildium for rent collection, maintenance tracking, and tenant communications
ā¢ Rehab and project tracking: Monday.com for scopes, timelines, and vendor coordination
ā¢ Bookkeeping: QuickBooks Online for inter-LLC accounting, loans, and property-level reporting
ā¢ Lead management: Podio for applications, second-chance applicants, and internal screening workflows
The biggest unlock wasnāt a single tool, but having each part talk to the others cleanly so nothing slips through the cracks.
- 10moTyler FoshePro MemberRental Property Investor Ā· Los Angeles Area Ā· Member since 2021 Ā· 60 posts Ā· 23 votes
This survey is a great idea. Thanks Rene to you and the team for polling the community on the tools they use. One tool that I recently discovered is the Walker Dunlop WDSuite product (https://suite.walkerdunlop.com/). With a free account you can check many different metrics on a property or area including the neighborhood class, demographics, crime, home values, rents and more.
- Member since 2025 Ā· 29 posts Ā· 7 votes10mo
Quote from @Rene Hosman:
Hi everyone!
The team is conducting a quick survey to learn more about the tools and platforms you use in your real estate investing, from finding and analyzing deals to acquiring and managing properties. What tools are you using? What tools do you love? What kinds of tools would you like to see?
If you have a minute, please let us know by taking the survey here! Your response will help determine who we partner with in the future!
It would be a huge help to us, so we can work to figure out what is best for y'all and bring you the best partnerships possible to help your investing journey!
The tool Iāve been using is REPSShield. Itās been helpful for tracking my hours and keeping my documentation tight without me having to overthink anything. Overall, I prefer tools that stay out of the way and make day-to-day work smoother, so Iām always open to anything that automates more of the busywork
The best ROI that I have gotten on a single tool is probably my drain snake. It has saved me thousands over the years. Not bad for a $300 investment.
I definitely go for quality tools, adhering to the "buy once, cry once" dictum. Buying crappy tools just means you will have to buy them again. Nice tools can make the finished product better too.
I have a favorite brand for each type of tool. In my opinion, Fein makes the best multi-tool, Milwaukee makes the best reciprocating saw, Skilsaw makes the best circular saw, Bosch makes the best jigsaw, Makita makes the best drills/ impact drivers.
It's a bit of a luxury item, so probably not appropriate to buy until you have "made it", but my Stiletto titanium framing hammer is super dreamy.
Two other tools that have been game-changers for me are my chord-less nail guns (Metabo) and my track saw (Makita).
One last parting thought: never buy a property that is more than a 5 minute drive from a hardware store.
- Member since 2025 Ā· 1 post Ā· 3 votes10mo
For context; I'm not an investor, but rather a student interested in real estate. Anyways, I've been working with my own landlord to create an "investor-first" pm app. He said he was paying way too much just for a small part of Buildium, and that it was too complex for most folks. So we made what I like to call the "command centreā that tracks his debt, mortgages, renewal windows etc. and then of course has all the property management features like tenant portal, e-transfer tracking (we're Canadian), messaging etc. I actually just added an AI agent so now he can ask "When's the best time for me to refinance this property?" and get a full report based on his portfolio. He says he wants it to be the iphone of property management apps, so I'm deep in the trenches making it as intuitive as possible ;-0. I don't have the go-ahead to share it yet, but hopefully I can come back to this soon :)
- 10moCharles ClarkBusiness MemberReal Estate Broker Ā· Milwaukee, WI Ā· Member since 2020 Ā· 306 posts Ā· 209 votes
@Rene Hosman
Thanks for sharing! Just filled out the survey. Excited to see what partnerships and tools you bring to help us level up our investing!
Raise the Standard RE LLC55 Reviews - Investor Ā· Milwaukee - Mequon, WI Ā· Member since 2010 Ā· 5k+ posts Ā· 7k+ votes10mo
I use tech as much as possible, but have not found much usefull beyond what a spreadsheet can do. For rent we use ACH and my bookkeeper used QB.
I think the best tool I have bought recently is my thermal camera. Game-changer in finding problems, including wet spots, electrical issues
- Member since 2025 Ā· 2 posts Ā· 0 votes10mo
I built an AI agent that qualifies leads, sends follow-ups 24/7, and notifies agents via SMS when a lead becomes warm. The agent can chat with leads and handle the qualification process automatically. However, Iām unsure whether to publish it, as Iām not convinced agents would be willing to pay $200 per month for it.
- 9moTyler FoshePro MemberRental Property Investor Ā· Los Angeles Area Ā· Member since 2021 Ā· 60 posts Ā· 23 votes
Quote from @Achraf Badi:
I built an AI agent that qualifies leads, sends follow-ups 24/7, and notifies agents via SMS when a lead becomes warm. The agent can chat with leads and handle the qualification process automatically. However, Iām unsure whether to publish it, as Iām not convinced agents would be willing to pay $200 per month for it.
As a former enterprise software professional I have a few suggestions. You could survey real estate agents on this forum to gauge their interest and see if anyone would like to beta test your product. After the test you can get their feedback on features, issues, and overall satisfaction with the AI agent and how much they might be willing to pay for it. This can help you make improvements to the product. Once the application is ready you can market it yourself or you could approach real estate software vendors about a possible partnership. The ROI can be good but please know that developing, marketing, and supporting a commercial software product can be a significant investment of time and energy.
- Investor Ā· Austin, TX Ā· Member since 2021 Ā· 497 posts Ā· 127 votes9mo
Hey Rene ā
I used to go crazy trying to juggle all the different solutions out there. Most are great at one thingā¦ and then kind of mediocre at everything else.
Iāve been investing for 5+ years now, and with AI getting so good, I started building my own tools to fit exactly how I run deals and manage assets.
Eventually word got around that the tools were really effective, and now I split my time between real estate investing and developing tailored digital products for other investors who are in the trenches.
Would love to chat more about it. Who knows ā maybe weāll end up partnering with your team down the road.
- Property Manager Ā· SC Ā· Member since 2025 Ā· 2 posts Ā· 5 votes9mo
Hi. So I only manage two of my own properties right now and I use TurboTenant which is working good and its affordable, I have the Premium subscription. I met with them virtually to test out new features with move/in move/out process/features they are building and want to implement, I think its great. I have had Tenantcloud(Free Tier) in the past. I plan to get licensed as a Property Manager in Charge here in SC and start a PM business so I will need software with owner client portals. I am looking into starting out with Innago then expand to Buildium once I get some doors.
- 9moHeather LeaskBusiness MemberMember since 2025 Ā· 7 posts Ā· 1 vote
TurboTenant for anything I still self-manage ā automated maintenance reminders so nothing explodes unexpectedly, and a custom deal calculator so the numbers donāt lie to me.
Great points Tyler. The beta testing approach worked well for me - getting early feedback from actual landlords shaped the product way more than I expected. The "significant investment of time and energy" part is no joke though š
- 9moDiana KhanPro MemberAttorney Ā· 10451 Mill Run Cir #755 Owings Mills, MD 21117 Ā· Member since 2024 Ā· 519 posts Ā· 186 votes
- 2moAlyssa MarquezBusiness MemberReal Estate Agent Ā· San Antonio TX / Fort Lauderdale, FL Ā· Member since 2023 Ā· 120 posts Ā· 29 votes
I use a variety of tools at different phases: MLS/Zillow to identify deals, Google Sheets or Excel to underwrite the deal, and a CRM for leading management and follow-ups. I would like to see more tools that combine accurate deal underwriting, market data and property management on one platform without having to subscribe to several different programs.
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