Property Management software you all use?

Question

I've been using Innago for the longest and have enjoyed every bit of it. I often see people ask this question looking for something better but for me, I'm just curious what most people are using on Bigger Pockets.

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.

Brad Larsen · Answer

@Tommy Parker I think it depends on the size of the portfolio and types of properties.  For SFR's, like they mentioned Rentredi,Rentec,for small portfolios, even Buildium would suffuce managing under 50 doors or so. For larger portfolios, say over 200 doors, there is a new one called RentVine.  We use it and love it.   I've never heard of Innago, I will check it out!

Brad

Zack Oberlies · Answer

Appfolio is the way to go in my opinion. We sampled Yardi and buildium as well when we started the company years back and Appfolio was by far the most comprehensive and robust. Another benefit was that it becomes more personalized and tailored with growth. We had a couple acquisitions of other companies and with each spike in units, we would get more direct attention from the staff for support but also with the ability to recommend software updates and new IT implementation recommendations. The only downfall in my opinion (and this was something that I often discussed with them) was that it's not great for managing labor if you have in house maintenance/contractors. It's really built for using a 3rd party crew. I've been out of the business for about 8 months now, so it could be something that they're working on though. They're constantly evolving.

Laura Stayton · Answer

We use Buildium and love it.  They are always coming out with new tools to streamline our day to day

Kimberly Elson · Answer

I use Rentredi. I like that it gives the tenant different payment options, it’s quick and easy to sign leases, easy to update lease updates/ charges, etc. The one time I had an issue customer service was very responsive and after solving the glitch also followed up a month later to ensure the next transaction was smooth. The downside is how long it takes to get the rent after the tenant pays.

Larry Turowski · Answer

I’ve been using Rentec direct for a few years. Never heard of Innago before now. What I liked about Rentec when I was doing my search is the monthly fee was lower than others like rent manager. It had to pay near me integrate it so people can pay cash at various stores to pay their rent. It also has ACH and credit card pay the background checks for half the price of others and it just had better features. I also like the recording.

Property Management software you all use?

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