In need of Tracking Software?

Question

Hello, quick question. I’m looking to qualify as a real estate professional for tax purposes. My wife and I own 3 rentals and I self manage them so I’m positive I’m hitting that magic 750 hour mark, also stepped away from my W2 late in 2021.  My concern is tracking the time in case we get audited. Is there a simple but effective software or app that folks are using to track expenses, and log hours spent managing your rentals? I’ve searched some of the forums but there were a lot of mixed reviews and most folks had other needs, like collecting rent, etc. I’m looking for something simple that isn’t spreadsheets.  We plan to add to our portfolio but it will most likely be 1-2 properties a year for now. Thanks

Joel McKinney · Answer

Thank you Angie, I’ll definitely check this one out!

Angie Anderson · Answer

I use the REPS Tracker (www.repstracker.com). Its a simple program that allows you to track your hours per property from acquisition to active management. You can upload photos, receipts, call logs and just about anything to support your entries for maintenance, networking, etc. Helped me see how much work I was actually putting into it all very easily. It also has an app as well, so its easy to use live and on the go as well. Costs $15/mo or you can do an annual subscription which I did cause you save 20% and I deduct the cost on my taxes. They have a 14 day free trial to check it out and play around a bit. Hope that helps, it's def better than the spreadsheet and shoe box for receipts. :) Good luck!