Property Management Stoftware
Member since 2023 · 20 posts · 8 votes
Property Management Stoftware
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3ySoftware 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.
The DIY Landlord Book4.7248 Reviews
26 Replies
- Property Manager · DE · Member since 2023 · 248 posts · 133 votes3y
Sorry I've never heard of that one. We use buildium and are happy with it.
- Member since 2023 · 20 posts · 8 votes3yIll check that one out! i am skeptical of DoorLoop as it was brought to me by a Facebook ad, however it did bring to mind of using property management software starting out as a landlord.
Quote from @Laura Stayton:
Sorry I've never heard of that one. We use buildium and are happy with it.
- 3yMichael SmytheBusiness MemberReal Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
@Jessica Sudyn software depends on how many units you have.
Buildium isn't for free - which many DIY'ers seem to want.
Have only heard good things about Doorloop so far.
Logical Property Management4.9446 Reviews - Property Manager · Charlotte, NC · Member since 2022 · 138 posts · 87 votes3y
Hey there! I use PayRent and RentRedi (all in one), Appfolio (all in one) is also very popular and tenant portal friendly (I've heard mixed reviews on the owner portal side). Feel free to reach out with any questions on the software that I utilize.
Artfully,
Lorien
- Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes3y
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.
The DIY Landlord Book4.7248 Reviews - Rental Property Investor · Cherry Hill, NJ · Member since 2015 · 626 posts · 495 votes3y
Take a look at the below post where I share the multiple free systems that are available for property management, rent collection and expense tracking.
Good Spreadsheet for Tracking Rental Properties? (biggerpockets.com) - 3yNathan MillerPro MemberProperty Manager · Grants Pass, OR · Member since 2009 · 429 posts · 201 votes
Quote from @Jessica Sudyn:
Hello,
I was looking to get some advice on property management software as a landlord. I came across an ad for a program called doorloop on FB that says you can collect rent, request maintenance , list your property, etc. i was looking to see if anyone has heard/ used this. As well as looking for any recommendations for any all in one software for property management.
@Jessica Sudyn Door loop is a brand new platform and they are spending their VC money on a lot of ads, but you won't find a lot of people here familiar with the platform because it's so new. It may be worth checking out if they have a free trial; however, there are a lot of more mature platforms out there as well that you might want to also look at.
The more mature platforms that are designed for landlords like yourself include Rentec Direct, Buildium, Appfolio, Propertyware, and Rent Manager. These platforms typically have billing policies where you pay a per unit fee per month to the software and you get regular updates and support each month.
There are also a number of low-cost platforms available that are able to offer you a lower price by passing along some of the costs to your tenants (payment processing fees, applications, tenant screening, etc). These platforms include RentRedi, Stessa, Avail, Innago, Apartments.com (formerly Cozy), and TenantCloud.
Pretty much every platform mentioned contains the features you are going to need. It boils down to which platform's processes, pricing, and support works best for you. The best way for you to figure this out is visit the platforms and explore their free trial (if offered). Run through some of the features you will need like setting up a property, moving in a tenant, receiving rent payments, and publishing online applications.
Pay attention to which platform feels the best to you as you perform these functions. Each platform does it a bit different and you are going to like some more than others. While trying it out, call their customer service and see how they treat you and how knowledgeable they are on their product. Ask their customer service to walk you through the above options if needed.
It shouldn't take more than a couple hours of research to try out the top platforms and identify which feels the best for you. Those couple hours of research will save you hundreds of hours of time down the line, so it's well worth the effort.
- Member since 2023 · 20 posts · 8 votes3ySince im starting out house hacking, i would need it for 1 unit but eventually add more. I dont mind paying a little bit if it helps make life a bit easier
Quote from @Michael Smythe:
@Jessica Sudyn software depends on how many units you have.
Buildium isn't for free - which many DIY'ers seem to want.
Have only heard good things about Doorloop so far.
- Member since 2023 · 20 posts · 8 votes3yThis is some great information! Thank you!
Quote from @Joe Martella:
Take a look at the below post where I share the multiple free systems that are available for property management, rent collection and expense tracking.
Good Spreadsheet for Tracking Rental Properties? (biggerpockets.com) - Member since 2023 · 20 posts · 8 votes3y
Quote from @Lorien Wolff:
Hey there! I use PayRent and RentRedi (all in one), Appfolio (all in one) is also very popular and tenant portal friendly (I've heard mixed reviews on the owner portal side). Feel free to reach out with any questions on the software that I utilize.
Artfully,
Lorien
Thank you! ill take a look at those ones!
- Property Manager · Charlotte, NC · Member since 2022 · 138 posts · 87 votes3y
If you have any questions, feel free to reach out :)
- Member since 2023 · 20 posts · 8 votes3y
Quote from @Nathan Gesner:
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.
Thank you so much!! ill make sure to keep this in mind when searching for what will work best for me
- Member since 2019 · 2 posts · 1 vote3y
Hello, I use Stessa. It has all the features that as a landlord I need it.
- Managing properties
- Leases
- Rent Collection
- Various reports
- Create a tax document for fillingThe most liked feature was that with premium subscription $20/month, you can open multiple bank accounts. I use it one account per unit, reserve and emergency funds. All under separate accounts. Easy to track and monitor on unit level m
- Property Manager · Kansas City, MO · Member since 2022 · 5 posts · 1 vote3y
We have been using Buildium for a few years now and really like it. However, we manage multiple properties for multiple property owners so it checks the boxes in that regard.
- Investor · VA MD, NC · Member since 2023 · 35 posts · 17 votes3y
@Jessica Sudyn we use Buildium and it's simplistic and works well for our portfolio. Good luck
- Accountant · Dunbar, WV · Member since 2021 · 23 posts · 4 votes3y
I use Buildium, and it works well for the property management side of things. I did not try out enough of the others. Buildium's rep sold me on the fact that it would handle the Accounting side of the business as well. I was was Tenant Cloud and Quickbooks. Quickbooks was pushing everything to online, with what would have been a pretty decent price increase for me because of all the different classes. Anyway, the accounting side of Buildium is very clunky to use. I'm an accountant by trade and i have it working for me in a way i can use but wouldn't recommend it if you need all your accounting on the platform. I will in the future be looking at other platforms that include a decent accounting side as well as property management
- 3yMelanie ThomasBusiness MemberReal Estate Broker · San Antonio · Member since 2022 · 1k+ posts · 489 votes
Check out RentVine. The customer service has been phenomenal! Good luck, happy investing!
RentWerx Property Management4.73295 Reviews - Accountant · Dunbar, WV · Member since 2021 · 23 posts · 4 votes3y
Thank You, I have heard their accounting system is very good. I hesitate a little because of the price. I only have 36 units.
- Member since 2022 · 3 posts · 1 vote3y
I have TurboTenant from day one and love it! It markets my properties on multiple websites, has a pre-screener, applicant pays $55 to them to submit the application which gives me background check, credit report and eviction history. It will email them when rent is due and continue to email until it's paid. It allows the tenant to pay online and even help their credit score (if they choose to enroll). They can submit maintenance requests, you can forward them to handymen, input notes on the request and even message with tenants so you don't have to do your personal number. I have 12 properties and love it! I do pay for the premium version which is like $100 for the year to have quicker deposits.
I do use Stessa for my bookkeeping though. Haven't play with Turbo's but I really liked Stessa and stuck with it.
- 3yBrad LarsenPro MemberProperty Manager · San Antonio and Austin, TX · Member since 2016 · 377 posts · 380 votes
Quote from @Richard Fisher:
I use Buildium, and it works well for the property management side of things. I did not try out enough of the others. Buildium's rep sold me on the fact that it would handle the Accounting side of the business as well. I was was Tenant Cloud and Quickbooks. Quickbooks was pushing everything to online, with what would have been a pretty decent price increase for me because of all the different classes. Anyway, the accounting side of Buildium is very clunky to use. I'm an accountant by trade and i have it working for me in a way i can use but wouldn't recommend it if you need all your accounting on the platform. I will in the future be looking at other platforms that include a decent accounting side as well as property management
Hi Richard,
I recommend contacting RentVine (great accounting for PM's) and having them do a personal demo for you. It would be worth the time to learn about them. Hope that helps.
Best,
Brad
- Accountant · Dunbar, WV · Member since 2021 · 23 posts · 4 votes3y
Quote from @Brad Larsen:
Quote from @Richard Fisher:
I use Buildium, and it works well for the property management side of things. I did not try out enough of the others. Buildium's rep sold me on the fact that it would handle the Accounting side of the business as well. I was was Tenant Cloud and Quickbooks. Quickbooks was pushing everything to online, with what would have been a pretty decent price increase for me because of all the different classes. Anyway, the accounting side of Buildium is very clunky to use. I'm an accountant by trade and i have it working for me in a way i can use but wouldn't recommend it if you need all your accounting on the platform. I will in the future be looking at other platforms that include a decent accounting side as well as property management
Hi Richard,
I recommend contacting RentVine (great accounting for PM's) and having them do a personal demo for you. It would be worth the time to learn about them. Hope that helps.
Best,
Brad
- Accountant · Dunbar, WV · Member since 2021 · 23 posts · 4 votes3yThanks Brad, I'll ad them to my list.
Quote from @Richard Fisher:
Quote from @Brad Larsen:
Quote from @Richard Fisher:
I use Buildium, and it works well for the property management side of things. I did not try out enough of the others. Buildium's rep sold me on the fact that it would handle the Accounting side of the business as well. I was was Tenant Cloud and Quickbooks. Quickbooks was pushing everything to online, with what would have been a pretty decent price increase for me because of all the different classes. Anyway, the accounting side of Buildium is very clunky to use. I'm an accountant by trade and i have it working for me in a way i can use but wouldn't recommend it if you need all your accounting on the platform. I will in the future be looking at other platforms that include a decent accounting side as well as property management
Hi Richard,
I recommend contacting RentVine (great accounting for PM's) and having them do a personal demo for you. It would be worth the time to learn about them. Hope that helps.
Best,
Brad
- Real Estate Agent · Cincinnati, OH · Member since 2015 · 474 posts · 580 votes3y
Quote from @Jessica Sudyn:
Hello,
I was looking to get some advice on property management software as a landlord. I came across an ad for a program called doorloop on FB that says you can collect rent, request maintenance , list your property, etc. i was looking to see if anyone has heard/ used this. As well as looking for any recommendations for any all in one software for property management.
I am closing on 40 more units and will be at 125 under management here soon. I have been using free systems for the last 8 years. I started with excel, then began using cozy.co and apartments . com after they bought them out. I recently used turbotenant for a new property. I am getting to the point where I need everything under one complete system so I can train my assistant on the new system. I am currently looking for an all in one system as well, I plan on buying more properties soon.
- 2yStephanie CabralPro MemberRental Property Investor · Wethersfield, CT · Member since 2014 · 152 posts · 122 votes
Hi Jessica - How many units are you managing? That combination is pretty common with rent collection platforms. I have 19 units, includign 4 mid term rentals and I use TurboTenant. It's very affordable and has those capabilities. Robust rent collection, listings, pre-screening, applications (customizable too!), receive maintenance requests, has templates, great education, has some accounting features, etc. I particularly like that the tenants can opt in to credit reporting so paying rent builds their credit and you start off as an ally.
As you ramp up your operations as a self-managing landlord, have you looked at how to create good boundaries for yourself? ie some privacy for your cell phone # and address? And how to minimize the demands of your time? Spend time ON the business so you can spend less time IN the business :)
Quote from @Jessica Sudyn:
Hello,
I was looking to get some advice on property management software as a landlord. I came across an ad for a program called doorloop on FB that says you can collect rent, request maintenance , list your property, etc. i was looking to see if anyone has heard/ used this. As well as looking for any recommendations for any all in one software for property management.
- 2yStephanie CabralPro MemberRental Property Investor · Wethersfield, CT · Member since 2014 · 152 posts · 122 votes
Hey Joseph -
Like you, I use TurboTenant, supplemented with other platforms and customized spreadsheets, integrated through some automation and delegation.They're rolling out a more robust maintenance portal which should save you some headaches too.
My systems have afforded me a lot of freedom but, if you're looking to make a change, you might want to check out more sophisticated platforms. @Nathan Miller mentioned Rentec above and that'd be a great place to start. They have a version for the self-managing landlords and another version for property managers.
Quote from @Joseph Cornwell:
Quote from @Jessica Sudyn:
Hello,
I was looking to get some advice on property management software as a landlord. I came across an ad for a program called doorloop on FB that says you can collect rent, request maintenance , list your property, etc. i was looking to see if anyone has heard/ used this. As well as looking for any recommendations for any all in one software for property management.
I am closing on 40 more units and will be at 125 under management here soon. I have been using free systems for the last 8 years. I started with excel, then began using cozy.co and apartments . com after they bought them out. I recently used turbotenant for a new property. I am getting to the point where I need everything under one complete system so I can train my assistant on the new system. I am currently looking for an all in one system as well, I plan on buying more properties soon.
@Nathan Millerundefined
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