Favorite Landlord/Property Management Software/App & WHY?

Question

i am confident i can manage the relatively small amount of requests, and have heard some good things about apps and software that are a "one stop shop" for landlords that allow payment, leases, and repair requests.

i have one out of state rental property with a plethora of options for handymen and contractors around. i have been paying a property management company 8% plus all of their inflated costs of repairs and fees and with insurance going up it has really opened my eyes to my margins not as healthy as i would like.

do you have a certain product you have used or use or would recommend?

John Underwood · Answer

Mine is customized to my properties and my needs.

I have a tab for each property. Here I have contact info, lease info, AC filter, trash day etc plus all the income and expenses.

Then I have a Master tab that has all properties, so I have the big picture of gross rents received. You can have a formula to pull the individual property tab income to this master tab.

I have my ROTH IRA owned properties with a different colored tab and they are in a separate section on my master tab. They are summed up separately and then at the bottom I can add everything up to see what all properties are combined bringing in.

I have this on each property tab for expenses and income. I also keep track of the date payments are made.

Income

Late fee

Gross rent

Expenses

Advertising

Cleaning

Gardening/lawn mowing

Insurance

Interest on loan(s)

property tax

Legal expenses

Pest control

Property agent   fees/commission

Repairs and maintenance

Water charges

Electric Bill

Total expenses

Net   rental income or (loss)

Account Closed · Answer

thanks john. would you mind sharing your excel template?

Account Closed · Answer

thanks again. i just wanted to make sure i could do leases and everything through there as well.

Account Closed · Answer

hey tim, i should have been more clear.

i will be doing all of the property management per se, just looking for an organizational tool via an app or software that will consolidate the communication for my duties.

i only have one out of state property and just dont think the amount paid is worth the relatively low stress of this specific quality property and tenant pool.

i will look into stessa and buildium- thank you for the recs!

Torben Luth · Answer

Check out https://magicdoor.com/

John Underwood · Answer

My partner has our properties on Rentredi. I like it fine.

My personal properties I use Excel.

It is very powerful and customizable. Tenants pay with Zelle, PayPal etc.

Only takes me a few minutes per month to put in Excel.

Favorite Landlord/Property Management Software/App & WHY?

Most Popular Reply