Property Management Software

My friends own and manage their 20 properties through their own company,
Excel spreadsheets and diaries are a bit old school and labour intensive.

Whats a good property management software they could be using?
Would be good if it could automate rent payments via a bank link.

 

Would suggest Caretaker. Simple and easy to use. Not suitable for bigger companies with bigger lettings, as they don't have too much bells and whistles. Also they have become more popular lately and price had come up. ... All good value imho.

 

There's some Xero addons I looked into back when I was in that predicament, before becoming a PM myself. Some of them seemed ok, i bet there's new ones or improvements since. This would be the first place I'd look.

 

Have a look at Renthq

Subscription service but fully functional.

 

Thanks everyone.
I am testing them all out.

 

Tenant Cloud is free American software which is mostly very good. However, they occassionally have little glitches so you do need to keep an eye on things and not just assume the software is perfect. I guess you get what you pay for. But you can export everything to excel easily and do a quick numbers check once a month. For the price (free) I think it is probably the best out there.

If they want paid, PropertyMe is $110 per month and is used by professional real estate agents so this is a good option for the number of properties they have.

 

PropertyMe is fantastic, I'm trying to move our office over to it at the moment actually. The price increases the more properties you use but it would certainly more than meet their needs

 

Hi Sarah,
Do you need Xero to have propertyme?

 

Any accounting software can be modified to deal with property. Just wont do it well....Loads of sub accounts and branch type reporting. Non-cash issues, conventional accounting software can handle payables BUT will affect dates etc. eg Accounting software will treat a expense dated June as June even if its paid in July. Sure some allow you to print cash reports but.......

Then there are commercial vs resi and GST issues. Most PM software accounts for GST when resi has no GST. It does from the agent side but its irrelevant for self managed IPs.

Then there are non-deductible, depreciable, CGT costs and cost written off over a time period.

Excel has its merits.

 

You don't HAVE to have Xero for PropertyMe, it is an option. For me, (as a real estate agent), I used PropertyMe for my Trust account, but MYOB for my business account.

You can get a free trial of PropertyMe, so you can have a play with some demo properties to get a feel for it (note - do not bother loading your real properties into the demo as they are unable to transfer the Demo file to the proper paid Property Me application file.

 

You beat me to it!

 

I do love hearing about people managing their properties as simply as possible. The main reason your friends would want to upgrade from Excel spreadsheets if it they are wanting to cut down on some hours manually adding payments, updating details etc. As for our rental payment link question, it looks like PropertyMe connects up to an app called Simple Rent for this. Hope this helps!