Searching for Property Management Software for Landlord/Investors

[Will F.]

Hey I'm trying to figure out PM software to go with --Appfolio, Buildium or Rentec.

I've read a lot of posts from people saying why one is better than the other based on price, features.  What seems to be good for self-managing landlord/investor types.  Obviously a PM might prefer Appfolio over a self-managing landlord for instance.

(Background: I currently use a hodgepodge of google docs (excel), quick books, local credit checking, leases from apartment assoc etc for self-managing of 20 units and own/manage about 12 other units with hired PMs. I'm very hands on and am just as much a builder/ developer as I am an investor/landlord.  I don't enjoy bookkeeping/ taxes)

I kind of feel like the main reason I need PM cloud software is for basic online rent collecting and setting up that system. Perhaps I'll find other uses with a PM software-- like online leases, integrated background checks and everything all in one.

I want to save time and have an efficient system over saving nickles and dimes--

I'm hesitant on pulling the trigger with any one software because I feel like I will invest a lot of time into learning the system, setting up accounts with my banks and tenants, only to find that I'm not satisfied and then want to change.  

Also, I don't want to invest my time/ money into a software only to have the fees quickly uptick when I feel locked into that software.

I only self manage about 16-20 units for myself and family.  I may just stick with that for self-PM and may hire a PM as I expand but still not solid on that.  I have about 12 more units I can start self-managing and will be expanding more to possibly 40 units total. At that point I may hire more PM depending on scalability of my own system with the PM Software at that time . Rents are pretty high as they're mainly in LA so I guess a $65 (buildium) or $250 (appfolio) monthly fee will not kill cashflow.

I just want to be sure that if I spend time with a whole new system, I get my money's worth for my time in learning/ implementation.

Anyways anyone's experience would be great here, especially advice from 10-50 unit self-managing landlord/investors 

[Kaycee Miller]

As your portfolio expands, PM software is certainly the way to go - you are smart to check out your options now. All the solutions you mention have very comparable features. While the monthly fee might be minimal to your cash flow at first glance, make sure to find out what their onboarding fees and term contracts are.  Like you said, if someone makes you sign up for a year contract but you find out you don't like it, you could be stuck.  Additionally, read reviews to see what people think about the customer support - free, US-based support from people with a background in property management will be super helpful as you learn a new tool and as you need help down the line.