Property Management Software - Rent Manager, Innago

[J Newman]

Hi, I've become the manager of my parents' real estate investment companies pretty much out of the blue. Long story. Right now it's being self-managed by my Dad and a few family members. I know that I delegate this to a third party PM and my whole life would be easier, but for alot of reasons, I can't do that right now. 

My immediate question is on changing PM software. They were using on-site Rent Manager software. I live in another city, and I need access for me and my CPA /bookkeeping team. I can shift to Rent Manager online. I have a call with them this week. I feel confident it's going to be very expensive. My CPA also mentioned Innago. She hadn't used it but liked that it was free and synced with Quickbooks. It could help us to cut costs, but it's not imperative right now.

Any thoughts about either?

Thanks in advance!

[Tim J.]

There are a few threads on this site that discuss various property management software.  
I suggest you get in touch with a few and ask for their 30 minute demos.  

Good luck.  If there are any more specific questions about software post them up.

[Michael Smythe]

@J Newman how many doors and planned growth will dictate software choice.

So, share that info so we can offer more assistance...

[J Newman]

Quote from @Michael Smythe:

@J Newman how many doors and planned growth will dictate software choice.

So, share that info so we can offer more assistance...

 Thanks Michael! 60 rentable units. 3 are being used by the company, but I'm going to reduce that down to 1. I definitely want to grow and change the portfolio in the next 10 years. Wanting to convert older properties to newer, better locations, if possible. Not sure if that will reduce or increase doors in the near term though. Guess would be 100+ units in 10 years. Again, I don't know what's possible with this portfolio. 

[Michael Smythe]

@J Newman the BIGGEST challenge we see landlords have with PM software is not having a clear list of function they want and not INVESTING time to really learn how to properly learn the software.

Many are looking for an out-of-the-box solution they can just press buttons to use.

We've spent 14 years constantly pushing the envelope of what our software does. We are now investing in an advanced CRM that will interface with our PM software for even more customization and automation - including hiring a specific expert to implement it for us.

It will be a painful learning curve - short-term pain, for long-term gain.

Suggest you make your list as you learn on the fly about what various softwares offer.

Check these out: Buildium, Doorloop, Appfolio and Rentvine.

Take your time, because switching is another painful task:(