Commercial Property Management Systems

[Michael Lesavoy]

I am buying my first office building (12 Units) and I wanted to see if I can get a little insight into management systems used by other investors. I would really like to have a good system or systems in place to do the fallowing few tasks to start. Also I would like to do them at a lower realistic possible annual cost but have the option to grow easily. I am considering using a residential system even know I don't plan to buy residential properties or just use a payment system and do all the other tasks on excel in-house. I do not want to just pay $200 a month to start with something like Yardi Breeze. 

1. Rent payments

2. Income and Expenses 

3. Manage vacant units 

4. Organize Contacts 

[Nathan Gesner]

Originally posted by @Michael Lesavoy:

I am buying my first office building (12 Units) and I wanted to see if I can get a little insight into management systems used by other investors. I would really like to have a good system or systems in place to do the fallowing few tasks to start. Also I would like to do them at a lower realistic possible annual cost but have the option to grow easily. I am considering using a residential system even know I don't plan to buy residential properties or just use a payment system and do all the other tasks on excel in-house. I do not want to just pay $200 a month to start with something like Yardi Breeze. 

1. Rent payments

2. Income and Expenses 

3. Manage vacant units 

4. Organize Contacts 

There is free management software that can handle everything you've listed. Check out TenantCloud.com for a great example. Online application, tenant screening, contact management, payment and maintenance tracking, owner reports, and more. You can have up to 75 rentals and for an additional $10 a month you can take online payments. It may not be as good as a $200 system, but it's plenty for someone with under 50 units.