Posted by hector on August 19, 2008 at 08:32:13:
I hear you on that, it looks like buildium software is the way to go for us. It seems like it does more of what we want to do at an affordable price.
property management software - Posted by hector
Posted by hector on August 12, 2008 at 09:50:10:
Any have suggestions as to what property management software is the best to use when starting a management company. I have researched several but wanted to get feedback from people that have actual experience with the various software programs that are out there. Thanks
Re: property management software - Posted by Matt-CA
Posted by Matt-CA on August 16, 2008 at 15:05:32:
I’ve been testing out some online apps. rentomatic.com looks good, but may be too basic for a full on property management company.
I am also thinking about building my own, I’m a developer. None of them seem to have exactly what I want. But I need to spend more time learning the REI bus instead of building apps.
Re: property management software - Posted by Dave T
Posted by Dave T on August 13, 2008 at 13:03:46:
My property managers use Property management Solutions (PROMAS). Go to http://promas.com/form.htm to download a fully functional demo. A 50 unit license for the Rental property version will run around $400 in addition to the cost of an annual software support agreement.
Re: property management software - Posted by Beachbum
Posted by Beachbum on August 12, 2008 at 20:52:59:
Part of your decision will be determined by the number of properties and owners you anticipate managing ultimately. Some programs are more scalable than others.
I personally have used Yardi, and Spectra for Windows. I have also dabbled somewhat with several of the smaller packages such as TenantPro etc.
Here’s something virtually NO ONE will tell you: These programs are mostly code-driven, and oriented specifically to financial accounting! This may not seem like a big revelation, but the fact is, day to day operations require immediate, accurate, current access to much more than just financial information. You need to be able to generate a wide variety of completely customizable documents, reports, and forms EASILY, and preferably without constant re-typing of repetitive data.
You also need to have a clear understanding of how to set up your accounting software. Rarely is your CPA or bookkeeper competent for this, in the context of Property Management. They can certainly get the basic job done, and the results will probably be technically correct, but the resulting financial reports may be of limited use for in depth, and hence USEFUL, analysis.
To get back to your question…I liked Spectra, as it was based on MS Access, and you could easily develop additional modules to integrate and track any data. Unfortunately, I only used it about a year before leaving the company, so didn’t get much past the conversion from the old software package (which was Yardi). Most mid sized companies I have worked for seem to like Yardi, but I absolutely hate it.
In 14 years, I have not seen a package that fulfilled my needs, and was remotely affordable. My suggestion, use Quickbooks, set up by a Quickbooks wizard for minimal necessary accounting, then hire a college age database wizard to develop a nice in-house app for managing the data.
Good Luck
I tried Rent Manager - Posted by Rich-CA
Posted by Rich-CA on August 12, 2008 at 10:16:07:
The set up is extensive but it does allow for multiple owners within their system. They have a web version you “rent” that gives your clients web access to their information.