Property Management Software

[CarrieKoch]

What do you use to track rent payments, tenant contact info, ltb paperwork, letters, owners, etc?

We are very small so we need an affordable solution but something that will allow us to grow. Are we best to use a packaged software or just save everything on our computer?

 

[housingrental]

Others from my limited experience for a smaller scale / and also non asset management business have cost / time consuming / issues with no added benefit.... Excel and accounting software for now... It seems like there should be a better way but in practice haven`t found it after testing software.

 

[CarrieKoch]

QUOTE (housingrental @ Dec 10 2009, 01:27 PM) Others from my limited experience for a smaller scale / and also non asset management business have cost / time consuming / issues with no added benefit.... Excel and accounting software for now... It seems like there should be a better way but in practice haven`t found it after testing software.

I looked into rentmagic as that is what I`m familiar with and $250/yr seems reasonable. What do you use for your PM business Adam?

 

[JBagorio]

Quicken Rental Property Manager is a stand-alone software application to track rental income and expenses for do-it-yourself landlords. Intuit has created a quick and easy software solution that`s far superior to tracking the same information using pencils and paper, or even Excel spreadsheets. However, some landlords may need more detailed cost basis reporting not found in Quicken Rental Property Manager.

 

[orei]

QUOTE (JNB @ Dec 10 2009, 12:32 PM) Quicken Rental Property Manager is a stand-alone software application to track rental income and expenses for do-it-yourself landlords. Intuit has created a quick and easy software solution that`s far superior to tracking the same information using pencils and paper, or even Excel spreadsheets. However, some landlords may need more detailed cost basis reporting not found in Quicken Rental Property Manager.

I also use Quicken Rental Property. I don`t believe they have a Canadian version of the product, but with some simple tweaking it can work nicely (some functions will not be available .. ie. tax component). Simple to use, easy to setup, can run all properties as one business or separate them. I agree, it beats excel hands down. In the end, I recommend downloading a couple 30 day trials and seeing what fits you best.

 

[gwasser]

QUOTE (JNB @ Dec 10 2009, 12:32 PM) Quicken Rental Property Manager is a stand-alone software application to track rental income and expenses for do-it-yourself landlords. Intuit has created a quick and easy software solution that`s far superior to tracking the same information using pencils and paper, or even Excel spreadsheets. However, some landlords may need more detailed cost basis reporting not found in Quicken Rental Property Manager.

Watch out for Quicken Property Manager it is designed for the U.S. not Canada. It is bundled with Quicken`s Home and Business to track all your other investments. The Bad news is that it is not for Canadian personal finances only suitable when you download your US bank data.

Canadians are supposed to buy from Intuit Canada. It`s software is only Home and Busines - there is no Property Management module!

 

[JimWhitelaw]

I`ll toss in a couple more comments about Quicken Rental Property Manager. I used to work in the Quicken group at Intuit and I was the project manager for that product, so I`m very familiar with it.

As has been pointed out, it won`t integrate data from your Canadian bank accounts and all the tax-related features are focused on preparing a Schedule E report for US tax returns and for exporting data to TurboTax, Intuit`s US tax product.

It does have great reporting features, reminders for receivables & payables and the ability to generate various tenant notices and letters from templates. It does predictive balances for your accounts based on your cash in/out trends. Even with the limitations of the US product, it`s a pretty complete system if a Windows-only desktop product is what you`re seeking.

If you do decide to purchase, your best bet is to buy from amazon.com (the US site, not Amazon.ca). They will ship to Canadian addresses.

 

[Jeff_Stewart987]

RentPost is very easy to use and is very low priced for all the features that you get.