I have been Practicing with cozy and Stessa, which work great but they are two different applications￼.
Just signed up for TenantCloud thinking all of my problems would be solved. If I’m not mistaken, you cannot connect a bank account and download expenses like you can with Stessa.
My question is, have any of you found an application that works for everything all in one?￼￼￼
I like www.onsitepropertymanager.com
@John H. I use stessa to track my portfolio worth/return on a basic level, nice as a quick overview but I don't connect my accounts etc I like that its free :)
@John H. we use Buildium and it's been great. It will cost ~$500/yr but it's worth every penny.
I use RentmindMe and Wave.
I just switched from Stessa & Cozy to Buildium. Having it all in one place is so much better and worth the money.
There are definitely a lot of helpful tools out there. It is a good idea to consider an option which allows you to collect rent much quicker than those others but still provides other rental management tools you might find valuable (again, not to knock Cozy or these other tools like Stessa because I know a lot of people love them), but since you have 24 units it may come down to the pricing (all depends upon what you want to accomplish). Others above have mentioned Buildium which can be good for that number of units but there's still some flexibility though because managing 24 units isn't the same as 50 or even 100+ (and some software solutions happen to be priced for those rental owners with more units). Still, there are other options out there though where you can easily collect rent and keep track of payments and even process payments faster. I will say, it could be worth considering a shot at an actual software solution built for DIY landlords (1 - 25 units) that helps you to automate your own rental process (ie. compared to other tools, one that helps you to actually build a single listing and syndicates it to 10+ major listing sites, allows you to schedule showings, provides you with super thorough tenant screening options, online digital leases which can be customized and help you by breaking out those fees, automated maintenance tracking, and fast rent collection which also offers your tenants the ability to report their positive on-time payments to the major credit bureaus; just another positive reinforcement/added incentive to get them to make those payments on time). I'm hoping all goes well with your decision! Exciting times @John H.
I use TenantCloud and you can connect a bank account, you have to pay at least $9 a month in order to do it though. The pricing plans are very reasonable. Honestly I really like TenantCloud! They are always adding features, they just added a leads tracking tool. It manages your leases digitally, tenants can even sign digitally. It also has finance tracking features and maintenance ticket system. You can download finances or even connect it to quick books. Lots of great features, give it another look.
@John H. , I don't think there is a perfect software out there.
Cozy is free and that also means limitation. I have seen people suggest other software like Buildium, which is more commercial grade but you must pay.
If I understand correctly, it's not simply connecting your bank because every management software allows that. It's the capability to import from your bank (i.e. Quickbooks style). Unfortunately I am not aware of any landlord software that has that capability. If anybody did, I would assume TenantCloud since they have the most accounting functionality. Your next best bet would be researching commercial grade software.
It is my understanding that you cannot download expense transactions from your bank and then categorize them within TenantCloud. Am I mistaken on this?
@John H. Unfortunately, reconciliation bank feature is not available within TenantCloud Service yet, but the team is persistently working on it, so coming soon.