In regards to DIY multifamily property management, I've been taking a look at multiple software companies that offer solutions such as rent tracking, rental payment portals, fix-it request, etc. Usually, these are accessed for a monthly or yearly fee. I'm wondering if one or two programs are regarded as more popular here at BP, and if there are any bad deals (overcharging, weak software, bad capabilities) to look out for. I took a look at the programs that BP has as affiliates that offer discounts to Pro members, and started my education there. TIA!
@Bradley Kirschbaum if you own a few rentals then quickbooks will suffice. Even with Pen and paper. I managed 30 units on my own. If you have a significant portfolio then it may be worth the investment and the learning curve to learn how to use it. We manage 650 units and use Property Ware. I have also heard a lot of good things about App Folio
@Bradley Kirschbaum you could look into Cozy.co or Avail.co, if it's only for a few rentals or units. Both are relatively cheap to use. I believe they only charge a small fee for rent payments and reports.
Let me put it this way: PM software will not turn you into a successful manager. You need property first, then you can worry about how to better manage them.
Start with spreadsheets and QuickBooks. When you get ten or more properties, then you should have a good idea of what your limitations are and find software that meets those needs.
Thanks for the input gents! Happy to find some seasoned ideas here.