What's a good property management software for someone who wants to manage a few tenants.

In Property Management - Asked by Martin Z. - Oct 2, 2010
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Answer(s)

Roger W.
Broker/Agent
Logan, UT

Depending on the number of properties Quickbooks can handle small management good and Yardi is a larger software program that I use

Oct 5, 2010
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Dale O.
Owner/Investor
Spanaway, WA

As an investor when taking over from a mismanagement company, I hate digging through the property management software generated reports to find the information I need to properly evaluate the property. I want a summary sheet with all the data on a single page if possible to easily scan through to see if the investment will work. I use MS-Office for everything needed to manage 134-unit/53-unit/40-unit properties now in inventory. We could all save some trees if we did away with the property management software programs.

Oct 7, 2010
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Joe L.
Broker/Agent
Dallas, TX

I've used several, but one of the least expensive and simplest programs is one that one of my agents uses to manage his apartment buildings. He uses Quicken Rental Property Manager and is very happy with it.

Oct 7, 2010
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Mark and Paul B.
Broker/Agent
Pocatello, ID

For the most part, this depends on what you consider a "few tenants". If it's less than 20 or all in one building, you can likely get away with just using excel or quickbooks or the quicken rental software. I'm a property manager/Broker by trade and have used all of them at different levels of our growth (except Yardi, which I've researched a bit). However functionality and reporting are key to monitor the performance aspects of your property. The problem with the smaller solutions- excel, quickbooks, quicken, is that they do what they do well, but do not integrate the many facets of management into one software package. The bigger you get, the more streamlined things need to be so that you don't run into bottlenecks. I recommend a management software that integrates the maintenance, accounting and database of tenants, vendors and owners that to avoid having too many locations for too much information. We use rent manager. It has some flaws too, and I think Yardi is comparable as far as product offered. There is another program called Tenant Pro that we had previously, however, had to get rid of it because it wouldn't allow us to send mailed statement to alternate addresses for storage unit customers. It doesn't do much good to mail them to a storage unit address. They may have fixed that by now as that was about 3 years ago. However, if you only do residential or commercial, it may work fine. One other thing to consider is price. Tenant pro, Yardi and rent manager are all multiple thousands of dollars, so if you're looking for the cheap version for just a few tenants- excel or quickbooks is what I would go with.

Oct 7, 2010
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Mark and Paul B.
Broker/Agent
Pocatello, ID

Yardi, Rent Manager, Tenant Pro are three good programs for 100+ tenants. Though expect to pay $2000+
Pros- they integrate, owner, tenant, vendor databases with full accounting functionality.
Cons- overkill for a few tenants
Quicken rent manager, quickbooks and excel are fine for just a few, though I would recommend you keep all accounting separate for your properties though or you'll have a headache at tax season. Dale O. cannot be doing everything out of excel, as their is not a simple way to integrate accounting into excel for quick reports, payables and receivables. What he's referring to is simply database management, though this lacks capability for monitoring work orders and recurring issues. We know this because we used to try and operate from Excel also.

Oct 7, 2010
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Dale O.
Owner/Investor
Spanaway, WA

Excel spreadsheet:
Income on the top by months - expenses at the bottom by expense area from the Schedule E. Totqls for the year on the right. Tax time one piece of paper allows you to fill in the different columns of the schedule E for each of your properties. With 227 units in 3 properties - I do not need the garbage reports generated by "professional software programs"
Cost aspect: Professional packages cost lots up front - with hundreds more in fees for annual renewals for the right to use the program another year or for upgrades to the system. Not so with office software. You have to make the decision as to what kind of software you will use!

Oct 9, 2010
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Ronald B.
Property/Asset Manager
Pottstown, PA

If you're looking for a good software program which is user friendly and less expensive, then TenantPro is a good one. There are different levels of pricing. 50 units, up to 100 units, etc. The software has most reports that you'll need but you can also export information to an Excel spreadsheet if you want to change the basic report or add to it. You can also integrate with Quickbooks.

Oct 14, 2010
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Michael J. T.
Broker/Agent
Minneapolis, MN

If you are just managing a few units most programs should work including Quicken home rentals etc. I used Buildium for smaller properties I managed. It has a great interface for having residents pay online and even sending notices all electronically.
I use Yardi for larger properties, but have considered Appfolio as well since it has some great online features and overall have heard great things about the program from other users.

Nov 16, 2010
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Gerda O.
Property/Asset Manager
Woodland Hills, CA

RealPage and Buildium are two of the most popular tools. I have had great experience with RealPage when managing my tenants. I would recommend researching them to see if they fit your needs.

Dec 28, 2011
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