July 14, 2024

Fryer And Brown

Creating Your Dream Home

TenantPro 7 – Rental Property Management and Accounting System Software Review For Investors and Ops

TenantPro 7 – Rental Property Management and Accounting System Software Review For Investors and Ops

Tenant Pro 7 is the number 1 rated property management software used by over 18,000 property management companies operating their rental units. The software integrates seemlessly with Microsoft producing over 45 preset documents. Also, the system integrates with Quickbooks, provides electronic payment processing allowing online payment from residents and resident credit card processing, offers background checking and other add-ons. This windows based system can meet practically all management requirements for almost any residential rental type unit.

Tenant pro provides move in, move out, application, unit, work order, general ledger, 1099, late notice, bill entry, owner information, vendor management, and many other basic functions.

The window interface provides easy click of the mouse access to each area. The tabs are:

  • properties,
  • units,
  • vendors,
  • work orders,
  • reports,
  • tenant charges,
  • tenant payments,
  • move ins,
  • move outs,
  • enter bills,
  • checkbook,
  • preferences,
  • accounting,
  • income,
  • manager,
  • reports,
  • lists

Managers can produce income statements, complete bank reconciliations, complete late notices, print out maintenance reports, prepare rent rolls, and many other reports.

Looking at residents alone, capture name, address, phone numbers, email addresses, rent rates, and overdue or over paid fees and rents.

For maintenance reports, collect date of the issue, details, maintenance person or contractor assigned, date corrected, action completed and more.

Perhaps as important, TenantPro offers a 3 hour online training session plus a multiunit online training tutorial to help you get off to a fast effective start meeting your property management and accounting needs. Additionally, the Company offers a variety of support packages.

Some other management systems to be aware (and there are many more) consider Yardi or RentManager. These systems offer most if not all of the same features and capabilities. Price and scalability may vary. There are also a number of online management systems that may prove interesting as well.

Owners, investors, managers, and principals should be seeking a management system that provides the features offered by Tenant Pro. As important, choosing a system with the proven capabilities, available training, available support, and 10s of thousands of satisfied users is a prudent move by any manager or owner. At the price the system is available (under $1,000 for 100 units) there is little reason why any manager could not afford the system. Reasonably complete training is available for $500 or less. So, as you are planning your acquisition or upgrading your operation implementing a good management system to produce up to date reports is a prudent step for most managers.