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-> Working Women
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amother
OP
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 Sun, May 14 2023, 10:28 pm
Anyone in the real estate line that needs to deal with multiple tenants and can help?
My husband and I currently own several investment properties with multiple tenants. We'd like to be able to keep track of who's paying when and how much etc and l as well as the expenses being incurred for each property.
QuickBooks so far isn't really working efficiently for this.
Some apps/programs we've been suggested to use are Doorloop and Appfolio.
Anyone in this line and familiar with either one? Any other recommendations?
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amother
Dustypink
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Mon, May 15 2023, 7:31 am
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Not sure how the cost compares but at work we use rent manager. You can check it out. You can keep track of expenses per property and per unit. You can break up one bill to multiple units. It helps send out invoices and communications with your tenants
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amother
Cappuccino
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Mon, May 15 2023, 8:44 am
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Another rent manager user.
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Sarah S
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Mon, May 15 2023, 8:53 am
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I worked with both appfolio and rent manager. Both r great programs.
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amother
Pansy
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Mon, May 15 2023, 9:59 am
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Another vote for Rent Manager. Makes life so much easier.
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amother
Hyacinth
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Mon, May 15 2023, 10:07 am
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Highstrung
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Mon, May 15 2023, 10:13 am
| amother Dustypink wrote: | | Not sure how the cost compares but at work we use rent manager. You can check it out. You can keep track of expenses per property and per unit. You can break up one bill to multiple units. It helps send out invoices and communications with your tenants |
When I worked in RE management we also used Rent Manager
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BusyMama1
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Mon, May 15 2023, 10:36 am
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I work with Appfolio and really happy with it
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Fave
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Mon, May 15 2023, 11:31 am
I use Rent Manager.
OP, seems like you have a relatively small portfolio.
Any real estate specific operating program should work for you.
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amother
OP
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Mon, May 15 2023, 11:41 am
| Fave wrote: | I use Rent Manager.
OP, seems like you have a relatively small portfolio.
Any real estate specific operating program should work for you. |
Just wondering, what is considered a "small portfolio"?
We currently own about a dozen properties. Most of them have multiple tenants. (It's a low property value area with low rents.)
Thanks for the recommendation of Rent Manager. We'll look into it.
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RM3
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Mon, May 15 2023, 1:37 pm
Look into https://managego.com I know people that are happy with it and it’s cheaper than some of the others that were recommended.
It also integrates with payment processing. Check, ACH, CC.
Last edited by RM3 on Mon, May 15 2023, 3:01 pm; edited 1 time in total
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amother
Cognac
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Mon, May 15 2023, 1:51 pm
| amother OP wrote: | Just wondering, what is considered a "small portfolio"?
We currently own about a dozen properties. Most of them have multiple tenants. (It's a low property value area with low rents.)
Thanks for the recommendation of Rent Manager. We'll look into it. |
Wow that's alot
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amother
Ebony
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Mon, May 15 2023, 2:02 pm
Another vote for rent Manager
Love it!
There's a rental portal that can connect to the software and avidxchange, which processes checks too.
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amother
Daffodil
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Mon, May 15 2023, 3:21 pm
| amother OP wrote: | Anyone in the real estate line that needs to deal with multiple tenants and can help?
My husband and I currently own several investment properties with multiple tenants. We'd like to be able to keep track of who's paying when and how much etc and l as well as the expenses being incurred for each property.
QuickBooks so far isn't really working efficiently for this.
Some apps/programs we've been suggested to use are Doorloop and Appfolio.
Anyone in this line and familiar with either one? Any other recommendations? |
One of my bookkeeping clients has 15 properities and uses quickbooks with invoices and for rent and class tracking for keeping track of the expenses. I am not sure if the other rent managers would be better but if they don't work, then double check that quickbooks is optimally set up for you.
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mushkale
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Mon, May 15 2023, 3:26 pm
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We use appfolio. We originally went with them because it has a cash payment option for our tenants which is how a lot of low rent areas like to pay and we were losing money orders in the mail but we use all the features and it's very good.
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tryinghard
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Mon, May 15 2023, 5:13 pm
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Buildium is very good. We used it for 20 multifamily properties.
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amother
Yolk
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Mon, May 15 2023, 5:21 pm
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Wow, so many imas own rental properties. Is this an easy field to get into?
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amother
Cornsilk
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Mon, May 15 2023, 5:21 pm
I manage the books of a few such companies
Quickbooks can work like another poster said if it’s tracked by class.
Rent manager is another great option and so is remote landlord
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tryinghard
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Mon, May 15 2023, 5:37 pm
| amother Yolk wrote: | | Wow, so many imas own rental properties. Is this an easy field to get into? |
Relatively easy, depending on the specific housing market you choose. Succeeding in it is a different story altogether.
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