I currently have 4 single family properties and plan to add another very soon. I have reached the point that I really need to use a software program for management (I probably should have had one a year ago, or longer). I know QuickBooks Pro is highly rated. Does anyone have experience with Quicken Rental Property Manager, or even a good excel or access program. What do you recommend? Thanks! Steve
I use Quicken Rental Property Manager, I would recommend it for keeping the books on your rentals, but it isn't the best for other aspects of property management like work orders or tenant communication. I am looking at pairing it with Buildium, which I think will work well, but I don't yet have enough units for Buildium to be cost effective.
Thanks Kyle. Quicken Rental Property Manager is probably the most inexpensive option (other than just continuing to use excel)... just want to make sure I won't regret not going with QuickBooks from the start, and have to upgrade later on.
I use Buildium and I really like it. Very User friendly and you can customize it for all sorts of reports. You can even receive online rent payments from your tenants for $0.50 per transaction.
Sharad, you get your transactions for 50 cents? Thought they were more than that on the site.
I have used quicken rental property manager. It's solid for expenses, but I have found the tenant info & rent collected side to be so painful that I use an excel. I have been looking at alternatives and need to move into something a little better.
If you want to grow, I'd recommend skipping the rental property manager and move on to something else, because you will outgrow it and need to learn a new software. There's lots of cloud based programs out there, ranging from $1-3/ unit with minimum fees / month around $25.
I have set it up to start using it from Jan. The fee for each transaction is $0.50 after $99 initial set up fee. I think Buildium has pricing information on their website.
Thanks guys. I'll check out Buildium. Sounds like it will probably be a decision between that and QuickBooks.
I use QuickBooks it's pretty complex at least it was to me when I first started using it but it has everything I need the only thing I don't like is it is desktop based and I have to have my laptop near whenever I need to check anything , but there is no reoccurring fee.
i have quicken rental menager and there, i keep my personal and expenses for all 4 properties.
i like it, but all i do in there is keep track of the expenses/rent. nothing else.
it's pretty user friendly, so i am ok with that.
i do not want to learn quickbooks, even though i know it can do a lot more.
I have successfully used Property Management Software from Buildium and RealPage and I can highly recommend both of them because they are Web-based and real easy to use :)
Thanks everyone. I think QuickBooks will be in my stocking this year. It may take some work to learn, but it should be capable enough to meet my needs (especially since I'll be receiving 1099's as an IC and paying quarterly taxes soon).
We use BUILDIUM. Its web-based so we have access through our regional offices. It requires input but there are lots of reports available for tenants, owners and the PM company.
we use propertware. It's web based, powerful, and cost effective. I've used Quickbooks to it fullest extent, timberline, and others. Quickbooks is very easy to configure and get up and running.