Join Australia's most dynamic and respected property investment community

Good property management software to recommend

Discussion in 'Property Management' started by astoba, 14th Apr, 2016.

Tags:
  1. astoba

    astoba New Member

    Joined:
    14th Apr, 2016
    Posts:
    3
    Location:
    Brisbane
    Hi guys,

    We are looking at property management software, there are many out there that you can request demo on, such as property tree, console, property me etc. Can anyone recommend a good software that is easy to use, scalable and wont break the bank, also prefer something that is web based for the easy access.

    I have properties managed by different agents over the years, which i think using same software, they send owner statement regularly in a format that quite easy to understand, does anyone recognise this format (attached), what software is it?


    And in email start with:

    Welcome to the convenience of Email Property Management Statements.

    To view your Statement, simply click on the attached file.

    If you can't open your Statement attachment, you may not have the free Adobe Acrobat Reader version 3.0 or later.Click here to download your free copy of Adobe Acrobat Reader: Adobe Acrobat Reader DC Install for all versions
     

    Attached Files:

  2. Xenia

    Xenia Adelaide Property Manager Business Member

    Joined:
    21st Jun, 2015
    Posts:
    2,347
    Location:
    4/136 The Parade Norwood, South Australia
    We use a software called REST it's a complete CRM system that also handles business development tracking.

    The attached files may be REST files.

    Not cheap however so may be changing to a more modern system in future.

    Are you looking from a business view point? Are you running a rent roll?
     
  3. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

    Joined:
    14th Jun, 2015
    Posts:
    2,104
    Location:
    Sydney & Adelaide
    The attached images look like Consol statements.
     
  4. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,584
    Location:
    Adelaide, SA
    Those statements are Console ones. Are you looking to self manage or starting an agency? I wouldn't bother with PM software if you're just self managing.

    Or if starting up; good agencies are moving to cloud based software's these days.
     
  5. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,145
    Location:
    Canberra and Sydney
    If it's for your own portfolio then a good ol' excel spreadsheet will do the trick. Simple, cost effective and easy to use.

    Cheers

    Jamie
     
  6. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,558
    Location:
    Sydney or NSW or Australia
    Have a look at rentmaster.co.nz or their web based alternative
     
  7. astoba

    astoba New Member

    Joined:
    14th Apr, 2016
    Posts:
    3
    Location:
    Brisbane
    Thanks guys for the reply, we were in sales and now when client settle they asking for management, we normally refer to other agencies, but have mixed feedbacks. So we decided to explore this side of business. We currently have 9 listing using spreadsheet, as rent roll grow starting to get more time consuming in generating statements and reports. We know we need something very soon, just trying to find something that fit the bill and easy to operate. We are definitely looking at something cloud based, don't see alot of choice out there, at the moment comparing property tree and property me. Any other good cloud based apps?
     
  8. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    1,018
    Location:
    Brisbane
    Call me old fashion but I prefer to host my own data. Panama Papers reinforces that preference.
     
  9. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,558
    Location:
    Sydney or NSW or Australia
    Fair Trading will crucify you if you don't use an accredited trust accounting package or manual ledger which complies with the PSBAA.

    Excel doesn't have an audit trail and accounting packages do not meet the requirements either.
     
    Chilliblue likes this.
  10. MyPropertyPro

    MyPropertyPro SE Qld Property Management & Investor Services Business Member

    Joined:
    1st Jul, 2015
    Posts:
    224
    Location:
    Australia
    REST and Console are the two biggest players with web based derivatives now available. A lot of PMs use REST however I think that's simply because that's what's always been done and what people are used to as opposed to what is the best out there with what is now available. After trialing many different ones and using one popular one initially, we recently changed to what we believe is far superior product from both a PM and landlord perspective - the online portal for landlords in particular being second to none! I've had many properties managed from all different types of software (personal portfolio) and in particular I've always found the layout of REST statements quite convoluted no matter which format is selected.

    For my own portfolio, I have always found PIA Pro to be excellent as it gives a true post-tax cash flow (not an incorrect pre-tax cash flow which simply compares income and outgoings) and has many other functions that a standard spreadsheet won't give you. You need to be able to calculate a diminishing taxable income as you grow your portfolio and then apply future prospective purchases to that, then amalgamate the portfolio which will take some fairly serious formulas using Excel. For a couple of properties it will do the job but depending on your goals it's well worth the couple of hundred dollars to get some good purpose built software.

    - Andrew
     
  11. oracle

    oracle Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    142
    Location:
    Canberra
    It would be nice if you mentioned what software it is for the benefit of all

    Cheers,
    Oracle.
     
  12. MyPropertyPro

    MyPropertyPro SE Qld Property Management & Investor Services Business Member

    Joined:
    1st Jul, 2015
    Posts:
    224
    Location:
    Australia
    Sure, my apologies. It's PropertyMe which has already been mentioned up top. Its evolution even from 6 months ago has been amazing and we couldn't be happier from both an operational, client facing and cost perspective.
     
    Last edited: 17th Apr, 2016
    oracle likes this.
  13. Xenia

    Xenia Adelaide Property Manager Business Member

    Joined:
    21st Jun, 2015
    Posts:
    2,347
    Location:
    4/136 The Parade Norwood, South Australia
    Hi Jodi
    Yes it looks great. If I was starting a business now that would be the one I go for too. Rest was it 11 years ago when I started and all my staff are trained to use it.

    We do plan on changing over to property me, there are a few additional features on it which look great, but need to find a platue in the business to do it. It's all hands on deck in our office at the moment and introducing a new system right now will tip my staff over the edge.
     
    MyPropertyPro likes this.
  14. Xenia

    Xenia Adelaide Property Manager Business Member

    Joined:
    21st Jun, 2015
    Posts:
    2,347
    Location:
    4/136 The Parade Norwood, South Australia
    Great that you have introduced property management to your business model Astoba.
     
  15. Nick Valsamis

    Nick Valsamis Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    504
    Location:
    Sydney
    If you do change then the best time to do this would be soon, on the 1st of July so you don't have to worry about updating owners financial folio.

    It's quite simple to use so they should get the hang of in no time.
     
    Xenia likes this.
  16. kennyboi

    kennyboi Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    64
    Location:
    Sydney

    Attached Files: