Property Management Software

23 Replies

Hello,

I currently own/manage 9 single family buy and hold rentals. They are all managed by me with the use of excel spreadsheets.  I would like to grow my management business and know that a good PM software would be vital in doing so. My questions is, what is a good software to use for the amount of rentals I currently have and could also be used to grow my management portfolio??  Thanks in advance!  

Jack Harris, Broker - Pelican State Realty 

We use Buildium.  It is scaleable and reliable.  Also, fairly simple to learn.  I have not comparison shopped by price recently but the impression I have from the forums is that it is still priced competitively.  I suggest Buildium if you wish to grow your management portfolio. 

Considering the amount of units you have, I would recommend Rentaway (rentawayapp.com or on App store or Play store). It's probably more suited towards your current situation, and the pricing is standardized at $3 per month for unlimited units. It also manages expenses, which I don't see a lot of other property management software do.

I second Buildium.  I did extensive research last fall with property management software.  Unfortunately, Buildium isn't sophisticated enough for our commercial portfolio so we went with another product.  I was disappointed that we couldn't make it work.

Depending on what's your preffered platform/required features I would suggest you to try out LandlordMAX for desktop, Landlordy or Housters as mobile apps and Pendo or TrueRent on the web. Buildium would be an overkill with your number of properties I guess.

This post has been removed.

I started with buildium and this is fine for the smaller owner.

I currently used Appfolio since we have a property mgmt company with many more units now.  Appfolio is not cost effective for the smaller investor since it has a flat fee

Buildium should do the trick.

There are free options out there that do most if not all of what the paid options do. With nine units, paying for an enterprise level software may not make sense for everyone. I manage a ton of properties and I still have no need for paid solutions. Just thought I'd add my 2 cents in. 

This post has been removed.

This post has been removed.

@Paul Ronto Your Accountant will sure love it too. Easy to download the reports and send it right over. My accountant advised two most audited items are meals/entertainment & mileage expense. This app solves that problem for sure.

Originally posted by @Jozy T. :

I second Buildium.  I did extensive research last fall with property management software.  Unfortunately, Buildium isn't sophisticated enough for our commercial portfolio so we went with another product.  I was disappointed that we couldn't make it work.

Jozy, I'm currently looking for a good commercial solution. Which software did you end up using for your commercial properties?  

Hi @Moe Awad , we are currently using MRI.  We have both residential and commercial properties.  I personally feel it is overpriced, but our historical data transferred easily.  I'll be looking for another solution once our contract is up.

Originally posted by @Jozy T. :

Hi @Moe Awad , we are currently using MRI.  We have both residential and commercial properties.  I personally feel it is overpriced, but our historical data transferred easily.  I'll be looking for another solution once our contract is up.

Thanks for that info. I've also looked into MRI and I agree it can be very expensive. I currently have my eyes on Yardi Genesis 2, I'll let you know how it goes. 

I just recently switched to SimplifyEm for my rentals and so far it has been very user friendly. The rare thing about it is that if you have any questions you can call and an actual person answers the phone and troubleshoots with you.  I have used Quicken in the past and had nothing but problems with the software.  I also use TaxBot on my phone for tracking mileage and expenses.  I love that I can snap a photo of the expense and toss the receipt!

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here