Has anyone heard of Tenant Cloud? Its a way of collecting rent from tenants for free. If you have please share your experience using it :)
I've been looking into Tenant Cloud but I haven't tried it yet. Looks pretty good but I'm looking for reviews on it before I make a commitment to it.
I have also been looking into TenantCloud but I have not seen any real reviews. I'd love to hear from any fellow BiggerPockets users who use the service. It's interesting, but sounds too good to be true - free for owners/landlords, free for tenants, free online rent payment, everything is free. So how do they make a profit to keep their doors open?
Anyone have experience with Tenant Cloud yet?
After much investigation in available software I ended up using EasyRent.com. I did not need management software so much as a portal for easy online payments from my tenants. I like the low fees for bank draft but the %3 for credit card is kinda steep for rent payments. I had one tenant use it to keep from being late, but complained about the fees. It's an OK site with decent support, but definitely not a one-stop-shop for all your landlord needs.
I've been using TenantCloud for a while and I haven't gotten charged any fees and my Tenants said they pay for free as well. I love the photo maintenance requests and manager tool. Customer support is quick, but not live. The free website did seem pointless at first, but now I use it for the digital applications, which is a big time saver. They need to add a way to download data in other ways then PDF, but they say it's coming. Screening is with Checkr ($20).
Any new thoughts on Tenant Cloud?
see the promo- - it's a start up
@Jeff B. Do you take that to be a good thing or a bad thing? Think they're just trying to get a lot of signups before adding a monthly fee and/or raising rates?
Startups? :: Worked for several in the '70-80s - - there's a high rate of failure in them.
Of course they're giving it away - - remember AOL mailing out those floppy disks for free email accounts?
IMO, let the dust settle and monitor the google search "Reviews of TenantCloud".
Good products and services will naturally bubble to the top.
Fully agree with the google searching "reviews of TenantCloud". I have tried most of the startups on this list and my review would be similar. I no longer pay $60/mnth for the clunky alternative. Charging handy man for bids is unique, but I haven't used that part yet.
TenantCloud used to be EvaProperty years ago. I, too, was looking around for various free payment and management software. Years ago I found EvaProperty. The site design was unique (I couldn't decide if that was good or bad) but it seemed to have the necessary requirements of a proper prop mgmt tool. I got an email back in Dec. 2014 saying EvaProperty was now TenantCloud. I still never used the site live but I kept an eye on the progression. I logged back in last night, first time in a while. I will say the site looks fantastic. I am still reviewing all of the features but it still seems to have everything a prop. mgmt site needs. There's even iOS/Android apps now. So it seems that the revamp is at least 2 years in the making with even more history/experience behind them (EvaProperty).
I snapped this pic from my account's Setting > Upgrade You Plan option:
What's bad for me is I just switched my tenants over from IPN to Cozy.co. I think I would have rather used TenantCloud because Cozy.co takes fooorrreevvveeerr putting the money into your account. I don't even know the money is taken out of the tenants account until the last possible second. I have had a payment fail on day 5 of processing then had to start all over again using Cozy.
I still have a tenant that pays through Google Wallet only. Maybe I could dangle a carrot to see if she would switch to TenantCloud so I could give it a test drive.
This sounds like an interesting tool. Believe it or not, I send my tenants deposit slips for my national bank account and just have them deposit rent each month. I don't have many young tenants, so not sure how they'd respond to an online system, but as I grow, an automated system with reporting sounds pretty good.
I use and love Cozy. You can add one time charges (I use this function for utilities). Sends reminders to tenants. It's free. The UI is intuitive.
I just signed up for TenantCloud and so far love it. I definitely love it better than Cozy.
It looks like Tenant Cloud has made some updates since the last posting on it and I was looking for more recent feedback...
Does anyone have any recent experience with it and their thoughts on how helpful it is?
Do they charge a payment processing fee to the landlord/tenant?
How is the app to use?
Is the application and background check tools easier to use and providing better results?
Any other feedback is greatly appreciated!
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@Rose Costinski Thanks for sharing!
@Rose Costinski thanks for sharing your feedback on TC. I have been looking from afar along with a few others. They have led the pack for me with my current needs.
@Rose Costinski . HI I am wondering if you have to pay any fee for using stripe or PayPal to collect rent in Tenant cloud. The reason I ask because I have to pay $9 to use their new tenantcloud payment system.
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To add my $.02,
I've been using Buildium for almost a year now, but I'm in the process of switching over to Tenant Cloud. Buildium has a ton of great financial features, but I honestly find the way it works to be a little "clunky" and difficult to navigate. This is understandable due to the complexity and number of features, however it seems to be much more than I need. Buildium seems to me to be very similar to QuickBooks in the way it operates. Tenant Cloud is a much easier to navigate interface and is better designed in my opinion. Tenant Cloud is sleek and intuitive like any new web page or app you'd expect to come across on your iPad.
Buildium is able to track all income and expenses as well as what's currently in the bank account, etc. I found that it does more than I need. Tenant Cloud tracks my income and expenses but does not have any "accounts" page (at least not to my knowledge) to track how much money I have in the bank. I'm find with that. I just want something to track my tenants and income/expenses and allow to me spit out a report at the end of the month/year to see how my property is doing. Tenant Cloud does this very well and I'm very pleased with it (obviously pleased enough to drop Buildium.)
Part of the decision also was that Buildium just raised prices again. I'm now paying $50.00/month. I currently only have 7 units. Tenant Cloud is free up to 75 units.
If anyone has any specific questions about Tenant Cloud, let me know.
Being a software nerd, here is a suggestion and what I actually did. Although I have no properties yet and am totally green in REI I decided to sign up for all of the free to use softwares and try them out with a fake property, or the address of my own home. You can get the feel for most of the functionality with the exception of taking rent payments (unless you want to charge yourself $1) and can make a hands-on decision without swapping your tenants around between systems.
Looks really good. I use PropertyWare.
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