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by ShakataGaNai 3841 days ago
Pricing isn't bad. Typical management companies come in around 5% per month around here.

That being said I echo the calls for more information about the product. I know it does lease stuff, "reporting" and some expense tracking. But otherwise what does it do?

My management company may be annoying sometimes because it feels like I'm losing money I shouldn't have to, but on the flip side I don't have to do anything. Tenant has an issue? Calls the mgmt company and they dispatch someone to take a look and/or call the professionals. Tenant late on payment? Mgmt company harasses them until they pay up.

Also, I realize you're probably one guy but the support SLA of 7 days for the first level of paid account is... useless. If my tenant can't pay rent because the system is broke, 7 days is not going to be kosher with me ... just to get an answer (let alone a fix). To me, that's the sort of thing you look at and decide you need to raise your prices. Maybe its just me but I wouldn't consider anything less than the $50/mo edition and I have exactly one place to rent out.

1 comments

I'm not sure this would replace a management company entirely, but this was born from necessity. Mainly because taxes were such a pain at the end of the year, and wanting to know if I was profitable or not. You're right it's inexpensive, but that's because it's new, and I'm still figuring out what needs to be there for $50/month. Thanks for the feedback!
In terms of taxes and accounting... You are going to have a hard time. If your solution isn't complete, then users will end up having to maintain their alternative solutions. And if they do that, then they will just stop bothering to enter that data in your app. Maybe there is some balance where a person with a property management role could enter daily expenses and another user with a bookkeeping role could export or link that data into the actual accounting program?

Things that a first time casual landlord may not have dealt with yet:

  - Depreciation schedules
  - handling bounced payments
  - recording capital improvements
  - asset accounts in general
  - splits for expenses
  - bank and credit card reconciliations
  - handling other charges(pet fees, utilities)
  - security deposit accounts 
  - billing expenses back to tenants

Or maybe focus on the CRM stuff instead of the accounting stuff. Like I mentioned, I use sugarcrm, but it is way more than a casual landlord needs. And by default it is tuned to a sales organization. However, keeping all my tenants, prospective tenants, and properties as "accounts" and being able to log calls, meetings, create cases etc are invaluable.
Nice observation! While I was trying to make this easy enough for my Grandmother to use, I tried to keep some of these items to a minimum, of course I am ready to expand the platform to meet the needs of users. Great feedback, thank you.