Best property management software???

Question

Hello, I am looking to self manage my first investment. I am trying to get the pros and cons of multiple property management softwares and was wondering if anyone has any opinions. Hostaway doesn't allow me to manage just one property on there which sucks and hospitable doesn't seem to have the best features. I could be wrong but i'd like to hear about guesty for hosts, doorloop, etc. I am also looking to add properties to the software in the coming years as well if that is something that I need to think about. ANY input is very helpful, thanks ya'll!

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.

• 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.

Tommy Parker · Answer

Congrats on looking to manage your first investment. I'm with Innago. It has made my life significantly easier, plus I'm lowering my expenses since it's free! Best of luck man!