Jumping in the RE Deep end ... need a software recommendation

[Cory J Thornton]

Hey BP community! 

Over the last 6-7 years my wife and I have had an on again, off again relationship with RE investing. It has only been in the last two years that we decided to get more serious about making RE a meaningful part of our future. 

Currently we own two single family rentals, have three single family houses under contract (should close this week), and we will be purchasing a small property management company before the end of the year. 

The property management company is small (Approximately 50 units under management), but is well positioned to scale. The current mix is about 65/35 commercial/residential. One of the first things I need to do is select and implement a property management and operations software. The company currently runs with Quick Books and a filing cabinet. The old way of doing things has done well for the current owners, but cannot support any further growth. 

-  Which software do you think is the most user friendly and creates the best customer/tenant experience? 

 - Which one has the best responsiveness when there is a user or software glitch? 

 - Which software seems to truly centralize your entire operation, into one place, eliminating the need for "bolt on" applications? 

- Are there products that I need to stay away from? 

- any and all insights are very much appreciated. 

The two solutions towards the top of my list (selected as an industry neophyte) are Buildium and AppFolio. 

Kind Regards - 

Cory 

[Drew Sygit]

Don't envy your predicament!

We switched software once, when we were under 100 doors and it SUCKED!

There are no mapping programs to transfer data. All you get is what you can export/import via CSV file:(

We use Propertyware, have experience with Buildium and have played with Appfolio and Rent Manager.

Buildium is for smaller companies.

The other three are tied, the differences being how much automation & customization you want to do.

If you don't see yourself growing beyond 150 units, go with Buildium.

If you're not very techy and plan to grow over 150 units, we'd recommend Appfolio.

If you're techy and plan to grow over 150 units, we'd recommend Propertyware or Rent Manager.

Of course, as @Scott M. mentioned above, schedule some deoms, take GREAT notes and them make your decision.

FYI - there are MANY new options on the market, the most will not survive, so you would then have to switch:(