Systems For Self Managing

[Ade Akingbade]

Hello everyone,

Self-managing landlord here , will have 2 properties by end of 1st quarter . I’m doing research on how we all track our rentals and I keep hearing people say they’re frustrated with their current setup - whether that’s spreadsheets, QuickBooks, Stessa, Buildium, or whatever else.
I’m curious: what specifically drives you crazy about what you’re currently using?

[Dan V.]

Great question — and honestly, most frustration doesn’t come from the software itself.

It usually comes from how it was set up (or not set up) in the beginning.

I’ve seen people struggle with:

• Spreadsheets that get too complex or inconsistent

• QuickBooks that wasn’t configured for real estate

• Stessa / Buildium not matching how they actually operate

• Reports that don’t show property-level performance clearly

The truth is, you can track rentals in:

• Excel

• QuickBooks Desktop

• QuickBooks Online

• Stessa

• Buildium

• Or almost any accounting platform

The tool matters less than:

1. Proper setup (chart of accounts structured correctly)

2. Clear procedures (how and when you record transactions)

3. A consistent system (monthly updates, document storage, property-level tracking)

Personally, I like QuickBooks Online because it’s flexible and scalable, especially as portfolios grow. But for 1–2 properties, even a well-structured spreadsheet can work if you’re disciplined.

What usually drives people crazy is:

• Mixing personal and rental transactions

• Not tracking by property

• Waiting until tax season to clean everything up

• Using software they don’t fully understand

• Not setting up everything (assets, loans, escrows, capital accounts)

So the real question isn’t “which software?” — it’s:

• How comfortable are you with accounting basics?

• How much time do you want to spend on this monthly?

• How much is your budget?

I’ve personally used different setups depending on the portfolio:

• For multi-member entities with ~50 units, I’ve used a combination of Buildium (property management side) and QuickBooks Online (accounting and financial reporting). That setup works well when you need property-level tracking plus clean financial statements for partners and lenders.

• For two single-family rentals I personally own, I’ve used Apartments.com for tenant management and rent collection, paired with spreadsheet / QuickBooks Desktop for accounting. Simple, but structured.

If the system is set up properly from day one, most tools work fine. If it’s not, even the best software will feel frustrating.

For two properties, you’re at a perfect stage to build the system correctly before it grows.