Rental Management Software

One of the biggest challenges for the rental property owner is tracking and keeping up with the expenses and income. The remifications of poorly tracking include out of control expenses, missed rental payments, tenants staying without paying and much, much more. It is imperative that you track what you do with your properties.

Recently, I began using a new product from Intuit called "Rental Rental Property Manager". It does a great job at tracking the "Cash Flow" from a property. I want to clarify, that this is not a replacement for an accounting system. What it provides is a simple system for tracking rental collections and property expenses.

First what it does not do. It does not setup a balance sheet for your properties. It does not run depreciation schedules for the capital improvements, etc.

Now what does it do for me? You have to understand that my wonderful wife manages all of our rental properties and she ROCKS at this job. Vacancies are under 10% in true vacancy numbers (total dollars collected in a month / total potential rent dollars). The tenants love her responsiveness to problems, our professional contractors that do the work and her attention to detail. The computer tracking of the expenses / rent income has always been a sticking point in our rental operations. In general, we were forced to implement a manual (pen and paper) tracking system and we updated the computer at the end of the month. With the new Quicken product we are able to use it on a daily basis to input and track all rents and expenses. The interface is incredibly simple to use and it allows us to have it up and running on the screen to update rent / expenses without a lot of computer skills or time invested.

Rental Manager:

Cash flow reports:

Tenant payment history: