Student Rental Property Software

by Antonio L
(Toronto)

I own a number of student rentals and want to manage from both an accounting software perspective and an investment management perspective so that I can also manage IRR and NOI. What software program would be the best to use for such a need? And, how easy is it to use regularly and for year end tax reviews? Key would be that I can name each property as individual entities but on a cumulative basis I can consolidate results.

Much appreciated

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Apr 15, 2014
 RE: Student Rental Property Software
by: Tom Karadza

Thanks for the question!!

There's a lot of different opinions on this. Everything from high-end software to paper and pen. The bottom line is that most people use either Excel Spreadsheets and/or QuickBooks. Even the super high end programs have their limitations. Again, you'll get a lot of opinions on this and you should do what's right for you. In all the years we've been searching we've never found a single program that gives us both the accounting with want and the investment analysis we want so we use a combo ourselves. It's time for someone to come out with one!

If you Google property management software you'll find a lot of options that include either some accounting or integrate into an accounting package. But again, be thorough before you buy any of them because from a reporting standpoint they all lacked something for us and we ended up back with QuickBooks.


Tom.

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