What are you all using to collect rent, manage properties?

Question

Hello all,

I'm about to close on my first house hack in a couple of days.  Woohoo!  As a first time landlord, what software do you recommend?  So far I've looked at PayRent and Apartments.com.    What are you all using?

Nicholas Coulter · Answer

@Devon Yates Rentredi is what I use. Great for background checks, credit checks and also you can collect rent direct!

Nathan Gesner · Answer

Software is a common question on BiggerPockets. Here are some things to consider:

• Most investors don't need software until they have 5-10 rentals. All you need is a single place to track tenant information, payment history, maintenance, and a few other things. You can easily do this on a spreadsheet and it will take less time to track than it would to find and learn a new software. If the software is not simplifying your life or making you more accurate, you shouldn't use it.
• Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports. But do you really need that for your one rental?
• There's no perfect software out there. Every system you try will have flaws or you'll salivate over a feature that shows up in other software.

Some common names you'll see thrown around a lot: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.

I recommend you search for each of those apps online and see what they offer, how much they charge, etc. Make a simple spreadsheet or written list with the features of each and see which ones appeal to you most. Try to narrow it down to your top 3-4. Once you have a short list, get an account with each one and run them through the wringer to see how they really function. Do one task at a time in each app so you can compare apples to apples.

• Load a property with pictures and details.
• Market that property.
• See what your marketing looks like from the public's perspective.
• Submit a fake application to see how easy the process is.
• Run a credit/screening report on yourself.
• Enter a maintenance request, assign a vendor, attach a fake invoice.
• Enter charges to the tenant's ledger.
• Enter recurring charges and automatic late fees.
• Sign documents electronically.
• Run owner reports.

After testing a few apps, one of them should stand out for you. Choose that one and use it. No system is perfect, so don't waste your time chasing after the next shiny object. You should only have to change when your current software has a flaw or lacking feature that is causing you to spend too much work on a work-around. Then you can consider researching and finding something that meets your needs better.

James O Trust · Answer

Matt, I've been doing that same thing here in the Pensacola area for years, all I ask for is for them to provide me a picture of their drivers licenses , assuming they haven't already applied through "Rent redi". Then call me when they arrive and leave.

Cheers

Lyndsay Zwirlein · Answer

Tenantcloud for LTR. automates everything and only $9/mo!

Ronnie S. · Answer

HI @Devon Yates

I have been using Tenet Cloud and have liked it.

Just recently I have been exploring Rentredi and Landlord Studio.

They both seem to have their Pro's and Cons.

The ACH rent collection is what most people will look for.

For the first few properties all you really need is Excel.

Hope this is some good testimony for you.

Thank you...

Jennie Lyday · Answer

We are using Tenant Cloud and I liked how simple it was to set up and navigate.

Eliott Elias · Answer

Direct deposit

Dave Donahue · Answer

I purchased my 1st rental property in July and my 2nd is under contract.  We use Avail for marketing the unit, tenant screening, document signing, collecting rent and maintenance.  It has been smooth so far and works great for us.  They have an accounting function that recently launched, but we use quickbooks for accounting because it's easier to collaborate with our CPA.

Hope this helps!

Devon Yates · Answer

Thanks for all the replies!  I never considered that I may just need a spreadsheet since it's only unit.  I will consider all options.  Thanks everyone.

What are you all using to collect rent, manage properties?

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