What software you use to keep track of rental properties?

Question

Hi everyone,

Is there any software you use to keep track of rental properties you own? I'd like to track expenses/rent, see my leases with tenants, and potentially also see how much equity I've built up in my mortgaged properties.

Rob B. · Answer

Hi George, a lot of this depends upon the number of units that you have. If you have anywhere from 1 - 15 units, it'll probably be best to go with a landlord software that is specifically designed for smaller landlords. If you have a larger number of units, it'll probably make sense to go with one of the bigger management platforms (ie. Buildium, TenantCloud, etc). But, again, if you have a smaller portfolio, those options may be a bit too pricey for what you're trying to accomplish. It is definitely worth looking into a landlord software that offers the full portfolio of tools that you'd find useful for your properties (and is cost effective). Consider one that offers the ability to list your property, schedule showings, screen tenants with a thorough application process (and full reporting options available), create and sign digital leases online with your tenant (once you've found one), collect rent online fast & easy, report those on-time rent payments to the credit bureuas (added incentive for your tenants to make all of their payments on time, every month), and then easily track their maintenance requests with automated notifications. @George Borunov

Roy Cleeves · Answer

We were using Simplifyem and found it good until we got to more properties.  We now manage 70 and are switching to Buildium.

Billy Linn · Answer

Most property management software can handle those things. Most of them are free to try so I'd suggest trying a few. Most look pretty good at first but when you start using them you will find the limitations that you can or can't deal with. Also important to find one you can grow with, moving data or having to put it all into another system is no fun.

Brendon Pishny · Answer

@George Borunov Buildium should be able to do most of what you’re wanting. I’ve been using it for my 12 properties and love it.

Kris Bucci · Answer

I’ve been using TenantCloud.  Free and simple to use.  I still track finances with spreadsheet, but I like spreadsheets.