RENTA

Mar 16 2020

#Rental home properties #Rental #home #properties



Rental home properties

*******

Quicken Rental Property Manager

by Quicken

Popular Products

Who Uses This Software?

Primarily catering to businesses of all sizes, it is a property management solution that helps manage tax planning, tenants rent payments, and rental properties.

Average Ratings

Product Details

Vendor Details

  • Quicken
  • www.quicken.com
  • United States

About Quicken Rental Property Manager

Rental property and personal finances management solution with tenant information tracking, income management, and expense tracking.

Quicken Rental Property Manager Features

Rental Property Management Features

Quicken Rental Property Manager Reviews Recently Reviewed!

Mostly good/ some annoyances

Pros: Links your bank account. Does recurring invoices Can file your taxes Payroll Can set up automatic payment for customers.

Cons: Can link two recurring invoices for a customer. Ex. The regular monthly invoice then when the semi annual invoice needs to be billed it doesn’t link so I have to print two invoices. Also, when I print all the invoices it doesn’t print each person’s invoice right after the other. So I end up searching for that second invoice. It’s a mess. It sounds so confusing to read what I wrote. But basically sometimes I end up sending two separate envelopes on the same month for one customer because when it needs to be printed it doesn’t organize then invoices per customer.

Quicken for the Long Haul

Comments: We’ve thought about switching to another home finance software, but Quicken has served us well, and we are in for the long haul with it! If you need a good, simple home finance system, Quicken is it!

Pros: We have used Quicken for our home finances for over 25 years. It has a small learning curve as does most software, but is fairly simple. I like how easy it is to run reports. We also categorize all our expenses, and it is good for that too. Many years ago we used Bill Pay with Quicken to have our payments automatically sent each month. That was very helpful also.

Cons: I really can’t think of anything that I don’t like about it. Sometimes we have been forced to pay more money and buy a newer version.

Overall good, but has room for improvements

Comments: Check if the software works with your financial institutions prior to purchase.

Pros: It’s a very lean and simple tool to use for most business structures capable of handling transactions of all types and frequency.

Cons: When I purchased this software a year ago, I was excited to use it because of its promise that the software works with most financial institutions. The hint here is “most”. Unfortunately, the software doesn’t support Capital one products and I am unable to load my transactions, I have to key them in manually. I am surprised that it doesn’t support Capital One as it’s a global financial institution. The biggest challenge that this software isn’t based on subscription, and incurs frequent updates, some of them caused glitches and I had to spend hours on the phone with a service team.

Best product to track finances, investments and business income/expenses, but..

Pros: Quicken Rental Property Manager is, in my opinion, the best product to track finances, investments and business income/expenses all in one spot and on your desktop versus having that information only on the internet.

Cons: Not the best solution or the easiest to use solution for tracking rental properties. Additionally, the new releases of the product often contain very little in improvements over the prior year. However, what I like least is that the software is often released when it still appears to be in beta testing. A lot of software bugs and often unusable until the software patches are released over a period of months.

All about your finances and assets

Comments: Quicken is a very nice domestic software to control your personnel finances. The app version was recently updated and it is easier to navigate now.

Pros: You can access your database through several devices. You can create different types of accounts, such as checkings, savings, assets. You can create different budgets. Added your invoices and receivings, you will have a cash flow. You can create categories to classify your expenses and earnings.

Cons: You can not do a transfer using your the app on your cell phone. To categorize a transaction split in two or more categories is a little trick.

Quicken for Home and Business

Pros: Ability to maintain household records and part-time consulting business records in the same program. Ability to issue invoices and maintain accounts receivable. Maintain customer and vendor database. Maintain records of business related vehicle expense. Integrates easily with Turbotax.

Cons: The chart of accounts is difficult to maintain. It does not follow usual accounting conventions.It is difficult to save recurring reports. Printing reports is often confusing.

Fundamental but lacking

Comments: I was so excited to use this software. It completely ties to our financial reporting in Quicken and therefore is very appealing to use. The issue is in the actual function of the rental piece. It does not allow easy adjustment to tenant accounts for issues. Would be good for a FEW rentals. It does not allow tracking of notes regarding tenants or tracking of service needed. I also had hoped it had a function that could allow customers to make payments thru it.

Pros: Ties to financial. Allows entry of all tenant information for contact and lease terms.

Cons: Would be better if the tenant was also then listed as a payee so you would not get two different entries for one tenant when you do an entry in the checkbook vs running it thru the rental program which only allows for entry of rents. You cannot enter a payment for garbage for example. Any entry causes the rent due date to advance so you will be entering rent on 11/5/2016 for example and the default will come up 2/2017 for example.

Recommendations to other buyers: This product is good for a FEW rentals where you know all that is happening. When tracking multiple the dates and auto accounting entries have to be watched very carefully. This should be more automatic. Also, be aware it is HARD to get help on this product as it is a sub product of quicken and the help limited.

Quicken lets me track my rental income and expenses accurately

Pros: I can create my own chart of accounts, the reports allow me to easily see how I spend money and which rental it is spent on.

Cons: I would like to be able to talk to customer service more readily or find someone in my area to help with the complicated details. Everyone seems to use Quickbooks and doesn’t train on Quicken

Overall: I can track my rental expenses and income to deliver to my CPA for taxes. I can download my bank activity directly to the software, saving me time and money

I have been using Quicken for several years now and love the program for tracking my spending.

Pros: As mentioned, I track spending as well as my earnings and family members earnings. It is a tremendous asset when tax time comes around for finding the items you may have forgotten about earlier in the year but are tax items.

Cons: The investment section of this program is a little confusing and cumbersome. It does allow for lots to tracking gain / loss easier. But setting up and making adjustments is a bit cumbersome.

Great for general accounting.

Comments: We have 65+ rental properties. I had waited to enter them into the rental property part until I worked out the kinks of the accounting part. I had issues with bank connectivity and then mobile sync was not working properly. After I got that fixed, I decided that in January I would start entering in my tenant’s info. Here are my problems: 1. Most of our houses are section 8 which means 2 checks and NO, you can not just have 1 housing payment that you split into your houses and have those apply to your tenants. you HAVE TO MAKE A SEPARATE TENANT for EACH house labeled section 8 (or what ever) and house number or something to uniquely identify it. PAINFUL. 2. Lets say you have an invoice from Vendor A and they have invoiced you for 3 properties. You have to put the invoice on the tenant side (each invoice to each house) then when you go to pay Vendor A- it prints multiple checks. Not just one check or an option to pay several invoices for vendor A. THAT IS CRAZY. (For me it was going to print 10 checks to the same vendor. I then went to the banking side and made a check, tagging each property which then printed one check but the system did not enter the charges into the tenants side. So you need to do double entry. WHO HAS TIME FOR THAT? I called customer service-super nice but spent SEVERAL hours trying to get it figured out. They ended up saying how terrible it was. 3. There are no useful reports. Bottom Line: I ended up going with a property management software. I interviewed Builidium, Appfolio, and a few others. Expensive but hopefully it will help me out in the long run. Anything is better than this.

Pros: easy to change the payee/category/tag


*******
SOURCE: http://www.capterra.com/p/151854/Quicken-Rental-Property-Manager/

Written by admin