Looking for User Reviews of Online Management Programs
Joshua D.Pro Member
BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votesWe're looking for reviews from landlords of the many online property management software programs out there.
If you have a few minutes and would like to try out one of the many sites included in our Directory of Online Property Management, please send a review to me by email or write one here. Your review will be included as part of BiggerPockets' directory.
The sites to review include:
* iRealtyManager
* Property Center
* PropertyWare
* Real Books
* RentingYourHome.com
* RentYield
Just use the link above to reach the sites. We look forward to your thoughts about these websites.
Let's See What You Think About These Programs
Thanks! :mrgreen:
No one is interested in helping out?? Would a financial incentive help?
Josh cash makes no enemies :lol:
Cash rarely hurts.
That said I was going to take a look in any event.
I was recently testing iiProperty.com. I like the look and feel. One issue with that package is it does not offer multiple users accessing the same portfolio. Best is when you have role based access control. The investor can input certain info. The property manager can input other info. If an LLC is in place LLC members could have access to some reports but not have permission to change the data.
I will check the others to see if they offer multi-user or role bases access controls.
John Corey
Has anyone actually used any of the programs or services on the list? If so can you share what you do know.
I have been reviewing the websites to see what makes sense to me. One criteria I have is that the service has to be multi-user and I want it to be roll based security.
By that I mean that I expect more than one person to be entering the data, looking at the reports and otherwise using the system. I do want the ability to segregate the access so co-investors can see only those properties where they have a slice of the deal. Property managers can access pretty much the full deal. Maybe having the tenant or a prospect see the property description is a good idea when marketing a vacancy.
One of the packages on the list does offer such role based access control. A somewhat similar package (not on the list) does not but will be adding it soon. They already support the ability to have multiple people entering data to the database.
New topic.
One issue I do have with any online system is the integrity of the data if something should happen to the company. I assume they know how to do backups and recover from a disaster. What I am not sure about is what happens if they shut down. Most of the companies on the list feel like new software companies. As we all know some do close their doors. Can the property investor who has been keeping all their data on the system gain access to the data after the closure? In the software industry this is akin to escrowing of the software. Customers can access the escrow if the company closes.
No answers so far but a question I will be asking for any that I am seriously considering. If they have no policy then the RE investor can create reports but that is not the same as getting to the real data. Some of the data for some of the providers appears to be downloadable in Excel format so that might be a good compromise.
John Corey
I have only been able to find older reviews for this software and they were very harsh. Is the 2.0 version any better ? The main gripe seemed to be with the inability to export accounting information to Quickbooks. The price of the product is so cheap I could pay a book keeper to input the summary numbers off of the resports.
I am purchasing 75 small 1-1 units made up of 14 diff 4-plexes all in the same neighborhood. This solution seems like a good value.
Any ideas ?
I am purchasing 75 small 1-1 units made up of 14 diff 4-plexes all in the same neighborhood. This solution seems like a good value.
Any ideas ?
Did you take a look at any of the online options listed above in on the other page? One or more have the export facility if you are using Quickbooks.
John Corey
A bit of an update.
I am in the middle of a deal for 29 individual properties, 30 total units.
As part of the due diligence I am using different tools to analyze the details. In particular I need a PM solution that will let us manage the portfolio if we want to use in-house staff (PM division) or if we want to work with an external firm that is open to suggestions for software platforms. In any event the seller's records are a bit disorganized so I am using the tools to help get a handle on things even if we do not use the PM tool long term.
1. I tried http://www.iiproperty.com/ first. They are not on the list of services to review but are largely similar to the ones on the list (hosted PM solution for small or larger RE investors).
I really liked the look and feel. I also liked the built in mapping function. They are a bit more focused on the communications and marketing side so have tight integration with Craigslist plus the ability to send letters direct. Neither were top of my list
They have a 30 day trial. They have responded to a number of emails. I asked for clarification on features, expressed a desire for more advanced features and reported 1 bug. In all cases they were pretty prompt with a reply.
What I found lacking was the strategy for true multi-user roll based support. I have a few people that will need to see the information and work with subsets. Multiple users who use unique IDs and can therefore be restricted to specific building, etc is important.
The vendor said that this is coming later this year.
PropertyWare
This was my number 2 choice based on what I read on their site. The look and feel was not as impressive. The feature list was stronger. In particular clearly articulate that they offer roll based multi-user access.
I sent them email asking asking about their pricing. For what ever reason they do not publish prices unless you sign up for a trial.
I found that a 15 day trial is pretty limited. I want to use the tool over a number of hours but I can not be certain that I will be able to focus the effort in a 15 day window. Others offer a 30 day trial.
When they replied to my email it was suggested that I try the trail but no price info was offered, nothing said about why it was only 15 days or that I could find the pricing info if I did sign up. I sensed the person was a junior sales person who had a narrow focus in their replies.
About 10 days later I did sign up. I have entered the portfolio I am working with. The solution does seem pretty robust. I was able to create multiple accounts so all of the team can have access. The pricing seems about the same as others so no idea why they hide it. They are evening offering some discounts on add-on features yet the public area almost implies that all this things will be expensive additions. They need to improve their message.
Conclusion?
Given the deal timeline I might not try the other solutions to the same level. It takes a few hours to input the data. There is no easy way to upload things and I did not expect one.
As none of the other services claim to offer true multi-user support I am less prone to be interested. Maybe I missed the feature when I read their sites or maybe they failed to point it out. At this stage I think I will stay with PropertyWare when the trial runs out.
A concern and warning.
All the sites are hosted. You really can not tell where the data is and if the company is solid. If they close you lose all your info. If you need to move on you lose all your info. Well, not exactly. One or more reports can be run. PropertyWare lets you extract data to a spreadsheet so you can save copies that way.
Being from the software industry small software start ups close all the time. Large companies insist on having the software escrowed so they will not be cut off if the vendor goes bankrupt. There is a risk with a hosted service as you really can not see how they are doing.
I have asked by email but I do not get much of an answer. I have not paid so far so maybe they do not take the question seriously.
John Corey
If you have a few minutes and would like to try out one of the many sites included in our Directory of Online Property Management, please send a review to me by email or write one here. Your review will be included as part of BiggerPockets' directory.
The sites to review include:
* iRealtyManager
* Property Center
* PropertyWare
* Real Books
* RentingYourHome.com
* RentYield
Just use the link above to reach the sites. We look forward to your thoughts about these websites.
Let's See What You Think About These Programs
Thanks! :mrgreen:
Earlier this month I also began looking for a property management software.
ResidentSource had the software and website designing skills I wanted.
I did the online demo, and it seemed more sophisticated than many of the others I stumbled upon.
Hope this helps,
Tanya B :D
I would certainly be interested in finding out a little more about the requirements that you would be required of such an application.
My company designs and builds Internet based applications for the property management industry, however, the area we have been focusing on up to this point is short term vacation rental management.
The product we are currently selling is an accounting and communication module for condo hotels and fractional properties. We have over 2000 individual owners that access our system for financial statements, documents and other.
I am always looking for new lucrative markets to design software for, and perhaps, this isn't 2 far from what we already have...and then again...maybe it is.
What should a good package offer?
I hope you don't mind me butting into this particular conversation, but I couldn't resist.
There are ways of putting the Quickbooks Pro & Premier series software to work doing the same job or better than most of the property management software packages I've looked into.
I've been a bookkeeper for over 30 years and started up Cross Country Bookkeeping Services in 1999 and have been using Quickbooks since around 1997. I thought I knew everything there was to know about it, but when I started taking on clients from the real estate investment sector, I had to learn how to make Quickbooks work for me instead of buying additional software. And it's really easy to do.
I bought RM from Quickbooks last year and ended up giving it to one of my clients to use on a small scale. But I do all of her property breakdowns and financials on QB Pro.
Tell me what you want to accomplish and I'll give you a few tips on how to do it, if you're interested.
Given the deal timeline I might not try the other solutions to the same level. It takes a few hours to input the data. There is no easy way to upload things and I did not expect one.
Here's a thought. Can you export your current files to a .csv format and upload into each of the trial versions so you don't have to enter transactions?
It does take time to upload and evaluate new software and there is a possibility that a .csv file won't work. But file extensions can be changed successfully most of the time. For example, you can change a Quickbooks .iif extension to .csv and vice versa, depending on where you want to use the data.
Anyway, it was just a thought in case you're interested in taking the time to evaluate all the available software and need transactions you know are valid so you can run identical reports for comparison purposes.
Linda,
Good suggestion. Thinking laterally :clap:
The way the services tend to work it would not make it much easier as they do not let you upload info. It does make the cut and paste process a lot easier.
John Corey
John ~
I'd forgotten about the trial versions not being able to accept imported file information. It's a shame.
Not being able to import your OWN information makes it tough to compare apples with apples and I guess most will choose the one that's easiest to use.
Ah, well. Maybe in the future software companies will realize this is a nice feature to have in the trial versions. All they'd have to do to avoid continued use of a free trial is add an expiration date, at which point you wouldn't be able to access even your imported information without making the decision to purchase it.
QB allows up to 25 logins before expiration or access termination but at least they allow importing of files.
It will be interesting to see what your other reviews reveal. I'll check back.
Linda
All the sites are hosted. You really can not tell where the data is and if the company is solid. If they close you lose all your info. If you need to move on you lose all your info. Well, not exactly. One or more reports can be run. PropertyWare lets you extract data to a spreadsheet so you can save copies that way.
Being from the software industry small software start ups close all the time. Large companies insist on having the software escrowed so they will not be cut off if the vendor goes bankrupt. There is a risk with a hosted service as you really can not see how they are doing.
John:
That's my biggest concern, and it's why I'm trying to find a good basic (read: "not too costly") program that I can have on my hard drive. Unfortunately they seem to be few and far between.
I can't resist, and yes I clearly have a bias, but I wanted to share a great quote I picked up from a property owner when we were assembling the right mix of features. He said,
There are other considerations that Intuit (Quickbooks and Quicken My Rental Property Manager) don't address, namely:
1. Advertising vacancies on the web
2. Running credit checks
3. Collecting rents with ACH and credit card
4. Providing landlord forms and resources
5. Helping suggest maintenance vendors
6. Providing a maintenance request system...
My very genuine question back to you all is:
[size=18]How important are these 6 features listed above versus having a detailed and robust accounting package?[/size]
There are ways of putting the Quickbooks Pro & Premier series software to work doing the same job or better than most of the property management software packages I've looked into.
I've been a bookkeeper for over 30 years and started up Cross Country Bookkeeping Services in 1999 and have been using Quickbooks since around 1997. I thought I knew everything there was to know about it, but when I started taking on clients from the real estate investment sector, I had to learn how to make Quickbooks work for me instead of buying additional software. And it's really easy to do.
I bought RM from Quickbooks last year and ended up giving it to one of my clients to use on a small scale. But I do all of her property breakdowns and financials on QB Pro.
Tell me what you want to accomplish and I'll give you a few tips on how to do it, if you're interested.
I completely agree. I have been using QB Pro for years. I have been able to use it to manage multi-tenant office complexes, retail and industrial sites with no problem. I did add-on the Customer Manager program to be able to store more contacts for each tenant, but other than that I can do it all in QB Pro.
There are other considerations that Intuit (Quickbooks and Quicken My Rental Property Manager) don't address, namely:
1. Advertising vacancies on the web
2. Running credit checks
3. Collecting rents with ACH and credit card
4. Providing landlord forms and resources
5. Helping suggest maintenance vendors
6. Providing a maintenance request system...
My very genuine question back to you all is:
[size=18]How important are these 6 features listed above versus having a detailed and robust accounting package?[/size]
Item 3 can be done in QB. Items 1, 2, 4, and 5 I do online, which I prefer. Item 6 I do with a combination of email and Customer Manager, which I also prefer, because I can access my email from anywhere.
I cannot access the Real Books program on their website
Since I cannot post URLs according to the forum's rules, but its located at: realbooksonline dot com
Anyone else having the same problem?:crazed:
I'm taking a look at PropertyCenter at the moment however... :beer: :type:
I tried iiproperty dot com also and I like it except for when it sends statements to my tenants it does not record the rent roll correctly. One of my tenants said something to me about it and I looked it over and I discovered it was doing the same thing for all my tenants so I turned the notification feature off. The rolls are recorded correctly though when I look at the rents section.
Also there is no way to re-arrange the order of your units. So if I entered the information for unit 4 before unit 1 (because i had to advertise 4 and not 1) now when I look through the property it shows unit 4 before unit 1.
But hey what can you expect for free...
I have been using Qbooks to manage multi-family properties for over 10 years. I began using it when I owned a single 14 unit property with no employees and am still using it today to manage almost 500 units across 29 properties and 7 ownership structures. I now manage properties for others and have multiple employees that need to access the Qbooks file. While Qbooks is a robust system that can be configured for property management, it is certainly NOT a property management solution. This has become painfully obvious to me as our company has scaled up. It cannot generate a decent rent roll, it can’t manage tenant information, etc. The list goes on.
I began looking for an alternate solution, but was loathe to move completely away from Qbooks due to the anticipated pain to our operations. I wanted an online solution because I have had good success using a couple other programs (Paycycle and ReaPage). For a small business, web based solutions are ideal because I don’t have to manage a network and IT structure. I believe that web-based applications/solutions are the way of the future, so if I am going to make a change it will be to one of these.
I initially found Buildium doing a search. Signed up for the trial and began to enter some data. It seems that they are a smaller company and their accounting package is integrated into their product. That would make me very dependent on them. I didn’t get very far into the process. More recently, I found Propertyware through the Qbooks community and it looks like a good solution – leveraging my experience with Qbooks with a front-end web application that gives me the property management solution. I am close to going with them and would love to see some feedback from others that have made the jump – customer support? Transition issues? Problems/ I see ffrom John’s posts back in July that he was using the service and planned to stick with them. How is that going? Thanks for any feedback.