I'm just beginning to build a portfolio and will be managing the first few properties with my husband. We're looking for software that will allow us to
-tenant screening and applications
-communicate with tenants
-get notified of repairs/maintenance needs
-Built in accounting and/or P&L statements
-has the ability to grow with us
What are you using that has met or exceeded your expectations?
Are there any that have let you down, or that we should steer clear of?
@Kelly Conradso what is the size of the portfolio you will be managing?
There are a few PM software services for smaller investors. I don't know of any that will do the accounting for you but most will track your revenues and expenses. You will still need to upload the transactions into another software like quickbooks if you want robust accounting reports. You probably don't need that if you are just starting out.
I have more than a dozen properties. I uses excel to track all my properties. The tenants deposit directly into my bank account, use Zelle or ACH. No one collecting a few between the tenant and me.
I use Zillow applications or residentresearch.com for back ground checks.
I have have not felt I needed software or an app to run my business.
Communication is handled via text.
So I have systems in place that make it simple to manage many properties. I feel I could handle 50 properties this way with minimal effort.
Thanks for the feedback!
We are just getting started in rental properties and we just had our first accepted offer. But, we are hoping to scale quickly.
@Kelly Conradso Buildium is a good one for small portfolios. It was just bought by realpage, which is the best crm imo.
Cozy.co and TenantCloud are just two good examples. They are free for a certain number of units. I think TenantCloud lets you manage up to 75 rentals before you have to start paying a nominal fee. It's around $10 a month to use ACH. It has a lot of robust features.
Use the search bar up top and look for "management software" and you'll find a ton of threads or blogs.
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