Updated 25 days ago on . Most recent reply
Managing two NYC apartment buildings
Good morning.
I will be responsible for collecting rent and paying bills for two small apartment buildings. Are there any recommended platforms for collecting rents online? Also, what software do managers use to keep track of their P&Ls?
Sincerely,
Jonathan Beaumont
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#1 Managing Your Property Contributor
- Property Manager
- Waterville ME
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#1 Managing Your Property Contributor
- Property Manager
- Waterville ME
Could you share a bit more about how many units are in those apartment buildings?
If it’s just around 4 units or fewer, I honestly wouldn’t bother with a property management software. You can have tenants pay you directly via ACH and track everything in a simple Google Sheet.
For something around 10+ units, you can still manage with a spreadsheet, but I’d recommend adding QuickBooks with the Bill Pay option — it’s budget-friendly and adds a nice layer of functionality.
Once you’re managing 20+ units, that’s when I’d start looking into dedicated software like AppFolio, Buildium, or similar tools to streamline things further.
If you need help, I can show you the way how we are setup as well, If it help you give a perspective.