Real estate software

Rehabbing, Fix and Flip, Rental Properties
1

Can anyone recommend some good real estate software, for rentals?

I would like something that will:

  • Keep track of all deposits & expenses; I use Quickbooks now but I would prefer something specific to real estate
  • Depreciate real estate
  • Be relatively affordable

Thanks

2

We tried RentRight for a year. It worked pretty well, but then the company got sold to someone else. The new owner did not have the customer service of the previous company. Also they insisted on us converting to their new version. We tried it and found it was corrupted, and issuing bogus numbers. We abandoned it mid-year for QuickBooks.

Furnishedowner

3

What features or functions do you need that Quickbooks is not providing?

4

Landlord Max is excellent.

Go here for some video reviews of various landlord software.

http://www.thereibrain.com/realestate-blog/landlord-max-property-management-software/140/

5

I use Quickbooks Simple Start edition, so that could be my problem.

Here’s an example - I want to be able to differentiate to when deposits are counted as income, or not. I know deposits are NOT counted as income until the person moves out and you need to take part or all of their deposit to cover damages/repairs/lost rent/etc.

Here’s a 2nd example - I want to be able to “easily” differentiate to whom pays rent, late fees, etc on certain dates - besides just making notes on the ledger, etc. It would be nice to be able to print out a report that would show statistics ike “John Doe at 123 Main St paid his rent late 3 times in the last 12 months, and we received an extra $150 in late fees from him in that timeframe”. Know what I mean?

Also I would like something that would record my basis in the property, show what my estimated depreciation schedule over the next 27.5 years, among other things. Tax software does that - but it does it on a year to year basis as the software is released.

I have some custom written software in MS Access that I made for my other business, and I may need to write something for rental properties too. That could be a project for this summer. Or maybe not - I’d rather just buy something!! LOL

6

As I am a member of American Apartment Owners Association (a nationwide landlord association) I have got a chance to use some real estate software for discounts. One of them was the rental calculator software Rentometer. Just enter the address and zip cod of your rental property and add your current monthly rental then it will automatically analyze the rental property. I liked its functionality.

7

You will find that Rentometer is not really accurate. The rent rates are higher than normal. I believe they get their data based on house sales and what it should rent for based on the sale price.

8

http://structure.at/

This is what we use. Access from any PC or cell phone. Tenant access too to pay or submit repair requests or complaints.

9

I like the Tenant Tracking add-on for Quickbooks.

There is a woman named Nancy Neville who is a landlord and a certified QuickBooks instructor. She provides LL training in Quickbooks.