5/26/10 Update: It appears that RentYield is no longer a viable website. I can’t speculate why, but if you’re interested in learning about other online property management platforms, check the link you just read past.
“An online base rental property management software that works like a desktop software. RentYield.com allows real estate investors and landlords to manage all financial aspects of their rental property, including expense and income tracking, tax information, tenant tracking and much more. RentYield also includes some fancy dynamic charts.”
I found this site while lurking around Digg.com. The site provides a barebones property management solution, allowing users to track properties, tenants, and vendors. The site has a nice expense & income report, but there is nothing on it you can’t find on any other basic property management software, web-based or otherwise
The company promotes their use of Web 2.0 technologies on the site, a hot trend over the past year. The use of Ajax (the programming language of web 2.0) doesn’t really add very much to this site’s functionality. Claiming Web 2.0 is just another gimmick for attracting visitors.
There are future plans for RentYield.com to let users compare with other investors how their properties are doing. I’m not sure about you, but it is no one’s business how my rental properties are doing. The premise of sharing my financial information, net worth, or rental property income is not something I plan on doing now or any time in the future. I realize some people think it is fun to compare themselves with others, but it gets scary when people know that much about you.
Overall, the best thing about the site that I’ve found is that it is currently free, but I could recommend quite a few web-based property management platforms that are much better then this one.