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SimplifyEm Property Management Software: BiggerPockets Review
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SimplifyEm is an online property management tool from founders Pankaj Shukla and Narinder Sandhu, who came from Intuit and were both passionate about real estate investing. The web-based software was developed back in 2006, so it’s well-established in the marketplace. The rental software currently helps property managers manage more than $42 billion in assets in the U.S. and Canada. The platform includes a full-scale suite of features for handling accounting, reporting, and other tasks.
Quick facts
With SimplifyEm, landlords and property managers can manage tenant and lease information in one place, monitoring the history, keeping track of late payments, and getting notified when leases are coming up on expiration.
MULTIPLE PROPERTIES
AUTOMATED REMINDERS
RENT PAYMENTS
SCREENING SERVICES
INCOME AND EXPENSE TAX REPORTS
WRITE-OFFS
PROS
- The accounting tool is ultra-simplified, which is ideal for people with modest accounting expertise or limited operational bandwidth.
- SimplifyEm’s tax-focused features can potentially save users substantial money (not to mention time) at tax time.
- Add relevant notes and documents to keep everything organized.
- SimplifyEm offers free training and support through phone and by email. “Very helpful on the phone and quick to answer emails,” noted BiggerPockets forum user Kyria Baker.
- The ability to automate systems cuts down on effort otherwise spent on manual tasks each month.
CONS
- There is a free trial, and users note good value to cost, especially at the lower tiers. But beyond all this, the platform’s costs can be significant for users with many properties to manage.
- A la carte services are varied and practical, but each comes with additional costs.
- The web-based platform does not have a smartphone app, which some users miss.
- BiggerPockets forum user Debbie Rumsey noted one particular drawback of an overall positive experience. “It is a very simplified accounting tool and I really like it for that reason,” she wrote. “I do miss being able to search for a certain expense by vendor like I could in Quicken. Sometimes too simple doesn’t work the best."
Pricing
- Email and phone support
- Income and expense tracking
- Reports-generating capabilities
- Document storage
- Year-end tax management features.
A la carte add-ons include:
- Online lease forms: $10 per form
- Online payments: $1 per transaction
- Tenant screenings: $19.95.
SimplifyEm and real estate investors
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