TenantPro 7: Review of Rental Property Management and Accounting System Software for Investors and Operations
Tenant Pro 7 is the #1 property management software used by over 18,000 property management companies that operate their rental units. The software seems to integrate seamlessly with Microsoft and produces over 45 out-of-the-box documents. In addition, the system integrates with Quickbooks, provides electronic payment processing that enables online resident payment and resident credit card processing, offers background checks, and other add-ons. This Windows-based system can meet virtually any management requirement for almost any type of residential rental unit.
Tenant pro provides move in, move in, application, unit, work order, ledger, 1099, late notice, bill entry, landlord information, vendor management and many other basic features.
The window interface provides easy mouse click access to each area. The tabs are:
- properties,
- units,
- vendors,
- work order,
- reports,
- holding loads,
- payment withholding,
- move,
- move,
- enter invoices,
- checkbook,
- preferences,
- accounts,
- income,
- manager,
- reports,
- liza
Managers can generate income statements, complete bank reconciliations, fill out late notices, print maintenance reports, prepare rental lists, and many other reports.
Looking at residents alone, capture name, address, phone numbers, email addresses, rental rates, and overdue or overpaid fees and rent.
For maintenance reports, collect issue date, details, assigned maintenance person or contractor, date corrected, action completed, and more.
Perhaps just as important, TenantPro offers a 3-hour online training session plus a multi-unit online training tutorial to help you quickly and effectively get started meeting your accounting and property management needs. In addition, the Company offers a variety of support packages.
Some other management systems to consider (and there are many more) consider Yardi or RentManager. These systems offer most, if not all, of the same features and capabilities. Pricing and scalability may vary. There are also a number of online management systems that may also be of interest.
Owners, investors, managers, and directors should look for a management system that provides the features that Tenant Pro offers. Just as important, choosing a system with proven capabilities, available training, available support, and tens of thousands of satisfied users is a prudent decision. by any manager or owner. At the price the system is available (less than $1,000 for 100 units) there is little reason why a manager could not afford the system. Reasonably comprehensive training is available for $500 or less. Therefore, while planning your acquisition or improving your operation, implementing a good management system to produce up-to-date reports is a prudent step for most managers.