Best software to track rental property…thoughts?
Since you will need to keep most of the information on your rentals in hard copy form, I don’t see the necessity of using software to track rentals. All that does is duplicate the effort and that costs you time and money. When I first started, I used the Carleton Sheets toolkit. However, now that I have several dozen rentals, I don’t use rental property software.
I do use Quickbooks Pro to keep track of the financial data!
You could also try Quicken Rental Property Manager 2.0. I don’t use it all the time, it’s just nice to use to organize your taxes. My accountant says it makes things a lot easier. Has a few bugs, but overall, it’s pretty cheap, you can pick up a copy on eBay for around $30 but it lists for $100. Most other programs out there seem to be at least several hundred dollars or more. Says it’s only good for about 10 properties, but there actually isn’t a limit to the size, some on the forums say they have around 100 on it.
I could never get Quicken to do exactly what I wanted…I use an Excel spreadsheet…At the end of the year, I sort it, break it into separate spreadsheets, and the totals flow into a master sheet that I forward on to my Accountant…Works no matter how many properties you have…Easy to do lookups on anything also throughout the year…I used Excel when I worked in Corporate so it comes pretty naturally to me…