GREAT Property Management Software

I went from Yardi DOS to PROMAS 5+ years ago....PROMAS is extremely user friendly and they have classes for new-hires for PM firms at various PM conferneces around the country yearly...their tech support is AWESOME and their reports to owners are so easy to read, I put a sample in my owner presentation packet....

PROMAS reports load to HomeRentals for owner review - no mailing statements!!!

Integration of services is the FUTURE...

 

 

MOI?1? * NEVER * any property manager licensed by a state licensing board should be VERY CAREFUL and get double blessed before doing this....anyone who has the funds to pay with a credit card can write a convenience check from their credit card account....ALSO, NSF/LATE FEES are a "profit center" for my biz as I charge $50 per adult for late fee and $100 per adult for any "notice" fee in my lease...if I took credit cards, these would be unnecessary....

Would-be clients are always surprised when I tell them I charge residents additional fees.  My owners are always made "whole" first of any monies collected; however, I explain that my services are charged to those to take up my time....hence, additional fees to residents.    From my lease:

IN THE EVENT A MONTHLY PAYMENT IS RECEIVED AFTER THE 5TH OF THE MONTH, TENANTS AGREE TO PAY AN ADDITIONAL CHARGE, LATE FEE OR RETURNED CHECK FEE OF $50.00. All rent payments will first be applied to all past due balances and then to any current rent due. If a 5-Day Notice is served on TENANTS during this or any future extensions of this Lease, TENANTS agree to pay an additional $100.00 to AGENT for notice preparation and process serving fees in relation to each individual notice and each TENANT so served.

LEASE TERMINATION PENALTY: If occupancy is less than the stated term, a $400 re-leasing fee is to be paid by TENANTS to cover the expenses of the AGENT. The AGENT assumes no liability for successfully finding replacement TENANTS.

For any court costs incurred by the AGENT for collection of unpaid rent or other charges under this agreement, including but not limited to reasonable attorney's fees and interest on any judgement at the rate of 18% per annum. Should any judgement be awarded against the TENANT, when that judgement is paid in full, AGENT may charge $250 to record a satisfaction of judgement.

At the termination of this lease, following the receipt of all bills for cleaning and repairs, the bills will be totaled including a 20% service charge, with that total being deducted from the security deposit with the balance returned to the designated TENANT.

BROKERAGE FEE to AGENT: If a sale or exchange of the real property subject to this lease is made to the TENANT(S) of any member of TENANTS' families during the term of this lease or any extension of the term or within 180 days after termination of occupancy, TENANT(S) agrees to pay BROKER/AGENT a commission equal to 3% (Three Percent) of the sale price or exchange value. This Agreement will not limit any other rights of the BROKER/AGENT provided for in any listing or other agreement which may be in effect between OWNER and BROKER/AGENT.

Enjoy!!

 

 

 

 

David, I use one of the easiest property management programs on the market and no one would need to be trained because it is that easy.  The program is RentAlls, mine is 1.45 and I am sure there may be a newer version.  It is also very inexpensive and you can order on-line at www.keepitsimplesystem.comat a cost of $30.00.  It has over 10,000 users and was the original SimpleRent  a dos program. You can use it on windows 95,98,ME,XP,NT and 2000, I am not sure about about Vista. I have used this program for many years.

Don Eichler-Texas Broker 

David,

I am working towards my Broker's license and will bookmark this for future reference.  That class is this year....thanks and have a great weekend.

The www.keepitsimplesystem.com from an earlier comment went to a parked site.  Could not find Rent Alls

We use RentManager. The Stand Alone Version.  Also are looking into credit card payments.  Also looking into switching to online version.  Can you tell more about your glitches?  The program is very rent oriented.  I manage alot of associations and previously worked with yardi- was more adaptable.  Yardi not as user friendly. 

Wallace - We charge a $900 lease breakage fee to our tenants and we disclose it to the owners in our management agreement...they love it :) We also charge the tenant a $25 advertising fee and the 10% finder's fee if they break their lease.

My office uses PROMAS, but I'm sure we are not utilizing even 10% of its functions!!! I had no idea you could upload owner statements to homerentals...I'll have to pass this up the chain of command :)

I have used Yardi for year and still use Yardi Enterprise.  It is only for larger companies due to the expense, but being that it uses an SQL database makes it unique for in house report writing and stability.  We us ACH for tenant and owners which automates the process.  We pull the funds directly out of the tenants checking account on the 2nd of the month eliminate late rent payments (unless the ACH bounces of course).  Taking credit cards is risky as a consumer can dispute the charge for up to 30 days after the charge appears on their statement. 

David Larson

This is a very good ting. I have had bad soft ware and I had paid a very big price for it