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TenantCloud Property Management Software: BiggerPockets Review
Jun 19, 2020
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TenantCloud is ideal for landlords and property managers looking for organized, digital communications with their tenants and service professionals; each category of user has a dedicated set of user tools through the cloud-based platform. It’s right for the small, DIY landlord (even the free tier allows management of up to 75 listings) but it has tools adequately suited for large, even institutional, investors.
Quick facts
RENT PAYMENT
For landlords on the $9 subscription tier or higher, TenantCloud collects rent payments online through ACH or e-check, credit card, or debit card. Tenants can also enroll in autopay. ACH payments have no transaction fees, and card payments come with standard fees. Rent goes directly to the user’s bank account. Landlords can also collect using Strip or PayPal.
For landlords on the $9 subscription tier or higher, TenantCloud collects rent payments online through ACH or e-check, credit card, or debit card. Tenants can also enroll in autopay. ACH payments have no transaction fees, and card payments come with standard fees. Rent goes directly to the user’s bank account. Landlords can also collect using Strip or PayPal.
ACCOUNTING TOOLS
All tiers also come with additional accounting tools, such as the ability to create invoices and receipts automatically and send automatic late-fee invoices. There’s an agreement template builder to generate customizable documents and a tool to create simple residential leases. And landlords can set up a website to market vacant listings through the platform as well.
WORK MANAGEMENT
All TenantCloud tiers also allow landlords to set up leases with multiple tenants, assign work orders to service professionals, schedule equipment and service reminders, import and export data—and a range of other features.
SCREENING
Tenant screening is available, too: When a would-be tenant submits an online rental application, landlords can run a screening report right in TenantCloud. The landlord can opt to either pay for it—background checks are $22.95 and credit checks are $38—or pass that cost along to the tenant instead. Most reports are instantaneous.
CONTRACTOR PAYMENT
Service professionals can use the platform to get paid online, manage invoices, communicate with clients, and create a free profile for their business.
APPLICATIONS
In addition to paying rent through TenantCloud with an automated option, tenants can also use the platform to apply for listings, make online maintenance requests, manage their documents, and communicate with landlords.
Pricing
TenantCloud offers a free tier, through which users can manage up to 75 units with one administrator account and 512 MB of file storage.
From there, there are two paid tiers available. The first costs $9 per month and allows one administrator account to manage up to 150 properties with 1 GB of file storage. This tier also comes with additional features, such as unlimited notice templates, renter leads, autopay, e-signatures, and Google calendar sync.
For $35 per month, users receive 10 admin accounts and 10 GB of storage and can manage up to 500 units. This also includes additional features not included with the $9 tier, such as QuickBooks Sync, property message board, and priority support.
PROS
- Users appreciate TenantCloud’s full suite of features.
- TenantCloud has a free tier, and many forum users find even the paid tiers to be an excellent value.
- TenantCloud allows easy, streamlined communications between landlords, tenants, and service providers—which users find not just convenient but a major boon in an emergency.
CONS
- While user discussion around the platform is generally favorable, some have found the accounting features to be challenging with TenantCloud.
- Some landlords report customer service delays, and responses that have felt at times less-than-customized to their particular concerns.
- Some first-time users say they’ve experienced a bit of a steep learning curve (which eased as they became more experienced).
TenantCloud and real estate investors
Because TenantCloud offers a full range of features at multiple price tiers, it’s right for a range of investors and landlords. Even the free tier allows a user to manage up to 75 units, and the platform is well suited to “small DIY landlords, allowing them to effectively manage rentals, receive online payments online, [and] accept maintenance requests,” notes BiggerPockets forum user Dakota Wilde.
Small to mid-range investors report they find the tools to be more than adequate; many BiggerPockets forum commenters even express genuine surprise that they can get so many features for free. But the platform also offers functionality advanced enough to be useful for larger or even institutional investors.
What BiggerPockets users say...
- TenantCloud has “by far has more features” than some of the other options, and allows users to handle “real estate tasks and accounting all in one place.” -Jeffrey Marcelus
- “I love the marketing feature for you to market your properties.” -Demi Reid
- “The pricing plans are very reasonable.” -Tyler Phalen.
- "It is great. I am not sure why they are giving it away for free for up to 75 units, but I won't look a gift horse in the mouth.” -Boris Peyzner
- When a hurricane hit and impacted all of Steve Zidzik's tenants, it also knocked out many communication utilities. “Many of us were using temporary mobile devices for internet service. The TC accounts kept all my communications together."
- “I tried TenantCloud and found the bookkeeping part to be very hard to use and [it] doesn't give me the reports I need in a usable way.” -Wade Sikkink
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