Start your membership account today...  Access to credit reports, 100's of rental specific forms, agreements, letters, checklists, how-to articles, guides, expert advice and much more!  Even a FREE, 3-day trial!

Not a Member?
Get a Free Trial Membership

  Get FREE Stuff! Run Credit Report Rental Forms  Shop & Buy Forms!  Advertise Your Rental Customer Care

Welcome to Landlord.com's Discussion Forum
Sign up Latest Topics
 
 
 


Reply
  Author   Comment  
CoinJarProperties

Registered:
Posts: 3
Reply with quote  #1 
I see this forum has over a dozen threads asking about landlord software, ranging from a few months to over 10 years ago.  Many of them are littered with recommendations (spam) for software/websites that no longer exist.

I have been using QuickBooks for a couple of years and it has worked so far.  But it is obviously not designed for property management and it is becoming more and more cumbersome with each new acquired property.

So, what are real landlords and property managers actually using?  Do you use separate software for accounting and property management?  Or is there a system that effectively integrates the property management and bookkeeping?

__________________
Patrick
LLinVA

Registered:
Posts: 434
Reply with quote  #2 
We use QuickBooks. If it is set up and used properly, it can work really well. 

What issues are you having making things efficient and accurate?
CoinJarProperties

Registered:
Posts: 3
Reply with quote  #3 
First, it's tedious to set up a group of accounts for each new property with sub accounts for land, buildings, improvements, depreciation, and accounts for security deposits, escrow, note payable, etc. To my knowledge there is no way to simplify that process. Each has to be manually created.

Next the reporting capabilities are lacking. I would like to create a report template and then have it use that template to generate a separate report for each property based on Classes. Instead, I have to create a separate identical report for each property. And whenever any change is made to the report, such as adding/removing a new expense account, I have to duplicate that change for each property's report. That was ok when I had 4-5 properties. But at 16 and growing, it is not how a want to spend an afternoon.

And finally there are aspects of property management that it just doesn't do, like tenant contact history and managing maintenance/repair requests.

__________________
Patrick
Anonymous

Registered:
Posts: 40
Reply with quote  #4 
I only have one property, but i use Quicken which has been great.
LocalHero

Registered:
Posts: 13
Reply with quote  #5 
I've been working on setting up QB to manage the bookkeeping on my own properties as well.  I have 7 doors at 4 properties and I self manage them.  Is there a simple guide to setting it up to be had somewhere.   I know there's a few guides out there for sale but I haven't tried any of them.  
arthurmicheal

Registered:
Posts: 1
Reply with quote  #6 
My friend recommends me appfolio as property management software and I found it a good suggestion. Moreover, for essay help visit 7 dollar essay review, these guys are amazing.
CoinJarProperties

Registered:
Posts: 3
Reply with quote  #7 
Thanks, arthurmichael.

I've also heard about Appfolio and looked into it, but it's not an option for me at this time.

At a glance, Appfolio looks great. $1.25 per unit for residential with many features subs fantastic. But when you read the fine print, they have a minimum requirement of 50 units and minimum $250 monthly billing, which would make the actual cost $5/unit for 50 units. Plus there's a minimum $400 onboarding fee.

I've also had Buildium and RentRedi recommended to me, but I haven't taken the time to look at them closely.

__________________
Patrick
Previous Topic | Next Topic
Print
Reply

Quick Navigation:

Easily create a Forum Website with Website Toolbox.

Apartment Finders > > Member Log-in > Free Trial Offer > Free E-newsletter > Customer Service > Get Free Stuff! > Run Credit Report > Rental Forms > Vacancy Center > Do-it-yourself > Evicting Your Tenant > Foreclosure Resources > Landlord Discussion Board > Income Tax Resources > Information Center > Join Landlord.com > Landlord Law > Library > Multi-family > Professional Advice > Rental & Property Mgmt > Rent Collection > Repair & Maintenance > Security Deposit > Software Center > Tenant Screening > Vacation Homes > What's New > Rental Agreements > Free Leases > Inside Our E-store > > Security Deposits > > Landlord Daily News > Rental Agreements >
LandscapingSanJose.net Resources: Cleaner Sunshine coast