This LandlordMax Rental Property Management Software Review is based on version 11.05 desktop version and is current as of January 5, 2014
The first thing you need to realize about rental property management software is that it is your own personal accountant. You have to input your information into it and keep it updated. That sounds like more work to most people, but let me explain. I managed to save over $1,000 in taxes on just one single rental property. There were write offs and deductions that I didn’t know about and I was about to throw away more money than I should have. That savings was well worth the price of the product many times over. Now imagine how important that it is when you have multiple properties. It is extremely important to keep track of things well.
The software is very easy to use. It’s even one of their main advertising features. It took me about 5 minutes to add a couple of my properties and get things ready to use. One thing that I really liked was the ability to add lots of detail and pictures in the information about the property. There is the main property information at the top and at the bottom of the property information display are several tabs of additional information. This helps me keep track of work history on the property, condition reports and changes, and keep a history record for each property.
There is a section where you can put your list of vendors you use and other contacts. This is really helpful when you need to keep track of all the people you use in one place. This is really important when there’s more than one person using the program. The training time is minimal and very easy to follow so you could bring in an assistant and they’d be able to find the right contractor and get your opinion of him on their own.
There isn’t a limit to the amount of units you can add and the program is compatible with a mac or PC which keeps compatability problems to a minimum. They have several reports to help you figure out your expenses, income, and investment health. There really are tons of features and you can try the software out for a month first. It’s very easy to figure out and if you give it a try I’m sure you’ll agree.
LandlordMax Property Management Software They have a FREE trial and Network and Desktop versions!
There really aren’t too many cons but I know that there things that people either don’t like or wish could be changed just a bit. The first thing you need to know is that you only pay once for the product, but you have to buy upgrades in the future. You aren’t required to upgrade, but if you want to get the latest edition that has more features and any bugs fixed, then you’ll want to upgrade. The nice thing is that they give you a discount on your upgrades so you don’t have to pay full price.
The network version is a self hosted network and not an online property managment software, not on the cloud. What this means is that you have to have it installed on a network or do it yourself. If you’ve got a few properties with more than one person working with them, then this is a necessary step and will take a little effort to migrate to a bigger version. You can install this on your own computer, but it will take some technical expertise from either you or a professional IT person to get it taken care of if you want to go past a local network. If all of this paragraph sounds like mud, then ask their support staff, they can give you some good information beforehand, but can’t troubleshoot your installation issues.
After looking at all the parts of this software, I give it a good recommendation for all ranges of real estate investing. Keeping track of all your expenses and incomes are vital to making your investments work for you. As with any program like this, you’ll only get out of it what you put into it. It can’t help you if you don’t use it.
Side Note: I actually have tried out the program and used it. The links are affiliate links and if you decide to make a purchase through them, I will make a small comission. I will use that income to make this a better website and to bring you more good information to help you succeed in your own investing adventures.
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