Property Management Software

8 Replies

My wife and I are dipping our toes in the rental home game. I have been searching for the best bang for your buck software to manage one property and have seen conflicting reviews online. Any recommendations from current landlords?

Hi @James Murray, welcome to the Real Estate Investing game!  With one or two (or anything less than five) properties you'll be served well by the free utility of Apartments.com.  That will give you online rent collection ability, maintenance request facilities, and a few other bells and whistles you may find useful.

if you're looking for a bit more functionality or a HUD style of dashboard you'll likely find RentRedi to be a pleasing option.

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@James Murray Whatever you do keep it very simple and cost effective when you start out. There is no reason to be spending cash flow early on for something that will take you a couple hours (at most) to keep track of. 

Think about it, let's say your 1st property is a 3-unit. You have 3 deposits every month for rent, a mortgage to pay, contractor invoices for maintenance here and there, and utilities once a quarter. This will take you 30 minutes at most to do, no reason to pay for a software at that point.

We have 6 and we use TenantCloud.  It has the rent collection and maintenance requests.  It also could list units, take applications, digital signing of leases, and stores documents.  I like it because it automates notifications too.  I send a welcome letter with utility companies, mailbox numbers, gate codes, etc.  

Oh...  Another thing I've been doing.  I collect INITIAL deposits, rent, and other fees from Venmo.  That way the tenant just needs to their luggage and coffee maker on lease signing day.  Then after that, it all goes through TenantCloud.