I've Been reviewing all of the rental management software bigger pockets has advertised and trying to choose one. I only have 10 units at this point so is it even worth my time?
I’ve been using Buildium for several months. Only $45/month for 20 units or less. It has made a huge difference keeping track of things. Plus now all my tenants pay online. No more waiting on mail.
I think you need a good book keeping system, and a tickler system for keeping track of leases expiring, etc. Quickbooks does this, you just have to be creative in the ways you set your system up. For example, the calendar can be set up as a tickler system, so your "to-dos" pop up when due. My tenants are set up as customers, and I use the notes features to record tenant interactions, late notices, served, etc. You don't even have to update QB every year. I am currently running fine on QB Pro 2013.
$45 bucks a month sounds expensive to me, but I am notoriously cheap.
@Bettina F. "$45 bucks a month sounds expensive to me"
@Shane Jeanfreau I use Buildium for 10 units and love it. Granted, I used to have a few more units, and Buildium was about half as expensive when I started using it 4 years ago.
The $45/month really isn't that much spread across 10 units, especially when you factor in the time savings and organizational benefits. What is your time really worth to you - I'd say that one hour of my time is easily worth $45!
All of my tenants pay rent on the Buildium portal, which means I don't spend time dealing with checks or going to the bank. Buildium syncs with my bank account and pulls in all of the debits/credits for easy accounting. When I have a vacancy, the prospects submit an online application with application fee collected automatically.
I use Buildium and love it. But I also recall paying much less when I started.
thanks guys! I'm torn between buildium and Helmane. Seems like Buildium has been around a lot longer than Hemlane. $45 seems steep but I'm building my portfolio slowly so I need organization.
I use Rentalutions.
Here is the link: Rentalutions
Personally, I love it because the rent deposits are 3 business days.
My tenants can make any amount of rent payments and they won't be charged a transaction fee.
They have digital Leases, late payment management, etc.
They communicate with me via Maintenance requests.
There is also listing syndication.
There are also a lot of other features.
I have 24 Apts, 65 tenants. My monthly is $68.
They are also great with communicating with me.
Hopefully this helps.