To use or not use property management software?

Question

Hi all,

I just purchased my first two units. I live about 2 units from the units and I am contemplating using a software to help collect rents and manage my properties. Which ones should I use? Here quickbooks is good but open to other thoughts.

Drew Sygit · Answer

@Edward J Pietschmann you don't want to use Buidlium or Appfolio unless you plan to ramp up to 50+ units fairly quickly.

Follow @Nathan G. advice and find a free option that you like.

Nathan Gesner · Answer

The best software is the one you use.

This is talked about every day, sometimes many times in one day. Just do a search for "property management software" and you'll find plenty of options. Most of them are free with a small monthly fee to add extra features like online rent payments. TenantCloud, RentRedi, RentTec, Stessa, Innago, Avail, Apartments.com, and more.

Read their websites. Sign up for a free account. Take them for a test drive by entering a property, entering a tenant/lease, processing a maintenance request, running reports, etc. You'll never find a perfect software, but you can find one that does the vast majority of what you want.

Chris Seveney · Answer

My recommendation is to start using software NOW. While you have two units once you continue to grow and scale you will be more accustomed to the software and its capabilities. As mentioned in prior posts tons of options out there. My recommendation would be to decide on one and start using it, better to know now what works and does not before you grow and realize you are behind the 8 ball.

Eddie Pietschmann · Answer

Thank you, this was very helpful. I have head from some mentors that Buildium is awesome, but I don't think I'll be at that point for a few more years.

Theresa Harris · Answer

Honestly for two units, I wouldn't bother.  You can keep track of expenses and income in a spreadsheet or in a notebook.  Try some, but also remember the tenants need to be able to figure it out.  So try some from an owner and tenant's perspective.

Billy Daniel · Answer

I agree with @Nathan G.  There isn't a "best" one.  They will all perform relative to how you use them.  The PMs in my network have used Buildium and Appfolio.

To use or not use property management software?

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