I'm buying a property management company in San Jose, CA that manages about 100 units, all SFR or Condos. I am looking at the automated software such as buildium, propertyware, appfolio, etc. I am wondering if anyone on here owns a property management company or has a large number of units and has a recommendation for one program or another? Cost is not as important as the program that is going to make my life easier. I'd rather pay $500/Mo for a great program than $200 for a mediocre program.
I manage about 70 units currently and I use Buildium.. I like it, and the support is very good.. I have heard appfolio is good for 200+ units, but I have only used Buildium..
I recommend Buildium for my clients with less than 200 units. If you are computer savvy it is fairly easy to setup and manage
we are currently at about 50 units but chose Appfolio as we hope to grow quickly and wanted to have a platform to allow us to grow. Very happy with Appfolio. Great software and service is second to none.
I use appfolio. We have 250 SFRs that we manage. Its great.
I've always used Quicken.
we have used buildium for several years now and I am very happy with it overall. I was on several other systems prior and this is the best to date. Make sure you choose a good one though as you grow it is harder to make a transition to another system.
Thanks for the input. We are also in talks with a second company that has 400 units, so if we bought both, we would quickly jump to 500 units. I have to say that the Propertyware demo seemed the most comprehensive, but that doesn't mean its the best.
On the other side of property management, does anyone have any books that they would recommend or any pointers when getting into property management? I've got 20 units in SFR and MF that I've managed for the past four years, so I've got some experience, but now I'm managing for others.
Also, do those programs handle bookkeeping automatically?
Any software you choose - make sure you keep time aside for training, consulting and learning curve.
Make a list of your requirements, create an excel sheet and go from there.
So what is bookkeeping?
- entering all or any transaction that is over .00
- owner, tenant, vendors, loans, investment, equity, partners...
So what is management?
- tracking tenant lease details
- tracing owners agreement
-recording work orders
Add more what is on your list.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.