Hi everyone,
i am currently tracking all my things using an excel spreasheet, so my income, expenses, rent etc everything i have i put in there so when tax time arrives its all made easier, but i am sure there is a better option out there and i dont mind paying for it.
I used to use MS Money a few years ago for personal finances but they stopped producing that, i am just wondering if anyone has any experience using a property management software and whether or not they are worth it, something that can keep track of valuations as well?
cheers
I use Quicken which is pretty good. I use the standard one but I believe they have a specific package for investment properties. Quicken in general is pretty user friendly – but can be very complicated if you want it to be.
Plenty of options out there: POSH, Property Manager Pro (both from Mannacom and available from Harvey Norman/Officeworks/Online). I wasn't too impressed by POSH as it could not handle multiple owners ie wasn't suitable for my purposes, PMP I used for several years and was very easy to use & create reports. I currently use Rentmaster (http://www.rentmaster.co.nz), this is a scaled down version of what you'd get in a commercial package – I have been using it for 2 years and won't go back to using a 'toy system'.
Quickbooks/Quicken/MYOB are accounting or bookkeeping systems, not a property management systems. They are not designed to handle property matters only transactions (costs/income) but property systems track your tenants, bonds, expiries, rent reviews, contact with agents etc.I too currently use excel and am looking for something with more functions. What about the investment detective package sold through this site- does anyone know how this compares to Property Manager pro which I have also been considering?
PIA by Ian Somers is a good one to use as well.
It can help with evaluations and assesments of properties as well as managment functions.
You can go to his webiste and do a trial run to make sure it is what you need.
i must say i dont like the interface of any of them, none of them seem to be user friendly, just downloaded rentmaster and PIA and both look like they are from the 80s. Alot of different functions on each but the excel sheet at the moment seems like the best option. ive requested a cd from quicken so will give that a go and let you all know.
To analyse cash flows, http://www.ipropertyco.com is pretty good.
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