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Introduction
Managing rental properties efficiently presents a multitude of challenges for DIY landlords. From tenant screening to rent collection and ongoing property management, these tasks can be overwhelming, especially for those juggling multiple responsibilities. The intricacies of maintaining a rental property extend beyond just collecting rent; landlords must also navigate legal regulations, handle maintenance requests, and ensure tenant satisfaction, all while keeping an eye on their bottom line.
Landlord software can significantly streamline these tasks. With features like automated reminders for rent due dates, online payment options, and comprehensive tenant communication tools, these platforms can alleviate much of the stress associated with property management. This article introduces three popular software options available for landlords in the Austin area: TurboTenant, DoorLoop, and Stessa. Each of these solutions offers unique functionalities designed to cater to the diverse needs of landlords, whether they manage a single property or an extensive portfolio.
The objective here is to compare these platforms, highlighting their unique features and capabilities to assist Austin landlords in finding the best fit for their needs.
For instance, TurboTenant is known for its user-friendly interface and robust tenant screening process, which includes credit checks and background screenings, ensuring landlords find reliable tenants. DoorLoop provides an all-in-one solution that integrates accounting, leasing, and maintenance tracking, making it ideal for landlords who prefer a comprehensive approach. Stessa stands out for its powerful financial reporting tools, allowing landlords to track income and expenses effortlessly, which is particularly useful during tax season.
By understanding the strengths of each software platform, landlords can make informed decisions that enhance their property management abilities.
Key Features to Consider in Landlord Software
When selecting landlord software, several key features should be considered to ensure it meets your management style and operational needs:
Tenant screening and applications
Rent collection and payment processing
Lease management and document storage
Maintenance tracking and communication
Accounting and financial reporting
Cost and scalability for growing portfolios
By evaluating these features, landlords can choose the software that best aligns with their management approach and property ownership goals.
TurboTenant: Overview and Best Use Cases
TurboTenant offers a range of features tailored for DIY landlords, particularly those managing a few properties. Key features include:
Free tenant screening and applications
Online lease signing and management
Rent collection with automated reminders
Basic maintenance request tracking
Notably, among its pros, TurboTenant is free for landlords, allowing tenants to cover application fees, making it particularly user-friendly for small-scale businesses. Moreover, there's no contract requirement, providing flexibility.
However, its limitations include restricted accounting features and a lack of built-in maintenance management tools.
Best suited for small DIY landlords, TurboTenant delivers a low-cost, straightforward solution to property management needs.
DoorLoop: Overview and Best Use Cases
DoorLoop is designed for landlords seeking a comprehensive property management solution, especially those managing multiple properties. The software includes:
Comprehensive property management covering leases, tenants, payments, and maintenance
Accounting integration with QuickBooks
Customizable workflows and automation
Mobile-friendly platform
The advantages of DoorLoop include its robust features, suitable for medium to large portfolios, advanced reporting and financial tracking, and responsive customer support.
Nonetheless, it requires a monthly subscription starting at $69 and may present a learning curve for new users.
Landlords with multiple properties looking for a full-service property management solution will find DoorLoop to be an excellent match.
Stessa: Overview and Best Use Cases
Stessa focuses on automated financial tracking and reporting, making it ideal for real estate investors. Its key features consist of:
Automated financial tracking and reporting
Free rent collection and expense tracking
Performance dashboards for ROI analysis
Tax prep tools and integrations
Pros of using Stessa include completely free core features and strong accounting and financial tools, making it an excellent option for investors managing multiple properties.
However, it lacks tenant screening and lease management tools, which may deter some landlords.
Stessa is best suited for landlords prioritizing financial tracking over tenant management, offering essential tools for enhancing financial oversight.
What If DIY Property Management Isn’t for You?
While managing rental properties yourself can save expenses, it requires considerable time and effort. Tasks like tenant screening, legal compliance, maintenance coordination, and bookkeeping can quickly become overwhelming.
Consider a property management company if you encounter any of the following:
You own multiple properties and struggle with day-to-day tasks
You live far from your rental properties and require local support
You prefer a hands-off investment approach
You find handling tenant issues or legal matters challenging
Professional property managers provide various benefits, such as managing marketing, tenant screening, rent collection, maintenance, and evictions. They ensure compliance with local laws and can save you time while delivering professional expertise.
When choosing a property management company in Austin, look for local expertise, strong tenant placement strategies, and verified customer feedback to ensure transparency in fees and services - like Evernest.
Which Software (or Approach) is Right for You?
Selecting the right landlord software or property management approach depends on individual needs:
Choose TurboTenant if you require a simple, cost-effective solution for tenant screening and rent collection.
Opt for DoorLoop if you need a comprehensive platform to manage multiple properties efficiently.
Select Stessa if your primary focus is on tracking rental income, expenses, and investment performance.
Consider hiring a property management company if you find DIY management too demanding and prefer a hands-off strategy.
Wrapping Up: Top DIY Landlord Software in Austin: TurboTenant Vs. DoorLoop Vs. Stessa
The best approach to property management will ultimately depend on your budget, the size of your portfolio, and your preferred management style. Austin landlords should evaluate their needs carefully and take advantage of free trials or demonstrations offered by these software platforms before making a commitment.
For those who find self-management overwhelming and seek to earn passive income, enlisting the services of a trustworthy property management company like Evernest is the most beneficial investment. Get started with our Austin property management team today!
Disclaimer
All claims are a result of an industry-wide audit done by our in-house team. If we missed something or have provided incorrect information, please let us know at marketing@evernest.co.
