Growing Rental Portfolio - Management Software Need

[Frankie Clark]

I've been a podcast listening for about a year now and have followed discussions in the forums, however this is my first post. I'm a commercial real estate broker in San Diego, CA, and over the past few years have started investing myself in residential rental properties, both with partners and solo. We are partners on 3 rental units in College Area, breaking ground on a 13-unit apartment development (North Park), and closing on a triplex (La Mesa). My wife and I manage all these, and in addition my wife manages a weekly vacation rental duplex at the beach. Thus far, we've cruised along with minimal systems and processes in place - collecting rent checks, running out for repairs, craigslist advertising, etc. With more units coming on  board here soon, and with a growth outlook, we need a good online management software that can streamline this process and allow us to scale.

Any recommendations for software platforms for our size of business? Integration with Quick books is important to us, as is cost. I've done research, and many have similar features, so curious if anyone has some experience using platforms they like? It doesn't need to be crazy robust, but of course our goal is to grow, so some scale-ability. 

Thanks!

[Melissa Cocks]

Hi Frankie,

There are several rental management tools that help with portfolio management. They all have their own spin. I think the best one for what you specifically described though and for the size of your business is NowRenting.

For $9 per month, it allows you to streamline those processes such as:

• Posting your listings to multiple websites at once
• Setting pre-screening questions & automatic scoring of tenant leads
• Free eviction, credit and background check report
• Monitor the status of leads and tenant requests
• Sending digital rental applications
• Creating, sending, signing digital leases (w/the ability save, re-use & edit the templates) 
• Collecting rent online (tenants can enroll in auto-pay, too) and delivered to your bank account via ACH
• Accepting & managing maintenance requests online
• Automating notifications to tenants (rent due, rent late, eviction in process, etc.)
• Centralizing all communication (get a NowRenting inbox & phone number to keep your business life organized)
• Manage your properties from a mobile app or via browser
• Creating an easy custom website for all your properties
• Integrating QuickBooks

Hope this helps, @Frankie Clark. Good luck!