Software for Owners of Managed Properties

5 Replies

Trying to evaluate software for my property business. I have 14 properties (54 Units) with a mixture Multi family and SFR, long term and short term and all in different locations. To make it more complicated I have 5 different management companies. I am tracking all their reports using spreadsheets right now. I would love to centralize it all into an app or online portal that has all my property info and connects to bank accounts to log income and expenses per property. Is there a solution that makes sense for me or are all the software tools primarily for the management companies? I feel like there must be other non-managing owners out there that also need to keep track. Any ideas or solutions are appreciated. :)

@Brendan Hayne I've been using Stessa with pretty good results. I have not heard of Tellus before, but Stessa has been pretty helpful to link cards, banks, property management accounts, etc. We currently have 16 doors over 3 different management companies and it has been helping us keep track. You can link it to Appfolio accounts too from PM's and their expenses will generate in your Stessa account. pretty cool! 

@Brendan Hayne I also use Tellus. I don't have as many units as you so I can't give you a perfect reccomendation but it works great for me and my family. It allows for property managers + owners so you can keep roles separate. I self manage so I don't use that feature. It's all centralized and you can have different bank accounts per property and it's fast to log income and expenses (plus I like using the phone to take a photo of the receipts). I mostly use the app not the web version, my tenants have liked the experience too and they pay more on time now that they can use Autopay. I don't use the late rent feature but I do use the block partial payments feature. You have so many units the rent roll and financial statements will probably save you a lot of time! 

Follow up:  After looking at both Tellus and Stessa I decided that Stessa was more in line with my needs.  Very strait forward free business app for property owners with ability to connect to banks and property manager software.  Haven't seen a single advertisement either.  :)

Thanks for the feedback and suggestions.