All Forum Posts by: Chris Walters

The title says it all... Please note that I am strictly talking about software for book keeping purposes.

I only know of Quickbooks and Sage

Has anyone encountered the issue of receiving partial payments through these websites?

Nice! Thanks for the input everyone! If anyone has additional advice, please keep the ball rolling :)

First, sorry for my ignorance, but what is ACH?

Secondly, did most of your tenants accept? Did any of them requested that you cover the $3 fee? And besides making sure the payment is received quicker, have any of your tenants mention why they prefer this method?
Thirdly, how does it work with your bank account? Is there a 3-7 days delay before funds are deposited in your bank account or is it instantaneous? Do you have any back fees at all besides your monthly fees for the software?

Hi everyone,

What is your opinion about collecting rent through electronic payments? Specifically online debit or credit card payments. 

Any good or bad stories? Any methods of preventing a tenant who uses a frauded card on the last month of the lease before moving out?

Mailed or picked up cheques seem to still be the most common method, but I am wondering if anyone has or is considering online payments.

I know there is often a fee attached to the epayments, which might discourage your tenants...

I've been researching this info for the past 5 hours. I found a ton of reviews and opinions and it is very confusing. For sure there are many factors to take in account. 

What I found is that many people tend to recommend QuickBooks for the accounting side. I too am seeking a software that can provide both a solid accounting aspects and property management tracking capabilities.

On the property managing side, I found Buildium, Propertyware,  and Rentec direct.

I am leaning towards purchasing 2 different software programs, because when scouting accountants, one of my questions was what software they recommend for me to do my own bookkeeping and will be easier for them when comes time for tax season and other events. Most of them recommended Quickbooks and I heard "Sage" a few times.

If someone can please expand on this topic, because I too am very curious. I might start off by purchasing Quickbooks in order to keep track of my business expenses and all. Then if I feel the necessity to really get a PM software, I might opt towards Buildium.

Thanks for the amazing topic @Daniel Dietz

My best guess is that your contract is saving you big time in this situation. Especially if strict guidelines were mentioned and agreed by both parties. It makes no sense that he suddenly ups to bill and cannot give a valuable explanation. I would say to get ready to get your lawyer involved. Some owners (who have deep pockets) might even taking it as far as taking the contractor to courts if the agreed job was unfinished. Good luck and let us know how it turns out.

I would either look at your state/city rental board or pay the hundred or two hundred dollars for a professional translator. It will save you headaches later on.

Casey Mac make a firm and reasonable offer. If the owner's numbers are too high, let him sit on it and realize how long his property will remain on the market. There are 2 possibilities if the numbers are no good.. Either someone will buy it and have a negative cash flow or he will eventually reduce his asking price. Don't be the sucker in this type of situation. At the end of it all, the current owner is all about his money and you should all about your's too.

Don't worry about the people who are talking negative. It only proves that they don't have big dreams and objectives. Even if they would, they cannot open their minds to encourage others to achieve better things. It's either they are negative or week-minded. Keep doing your thing.