LandlordMax software? - Posted by Rick Hall

Posted by Rich-CA on July 15, 2007 at 11:17:13:

Depends on how much detail you want to get into. For myself, the advantages include (1) being able to attach the specific lease to the property, (2) being able to set reminders about inspections and lease expirations, (3) keeping ad text with the property record, (4) keeping the application info with the tenant record (helps when it goes to collections and whatnot), (5) tracking the performance of the property (including equity buy down by rent payments, depreciation and so on), (6) mortgage payment (haven’t found an adequate amort. sched for Excel - if you have one, can you shoot me a copy), (7) place to keep condition pics, walk through docs and receipts scanned in together with the other property records. Just from the top of my head.

Spent 20 years building custom computer systems. Specific built systems also help the less organized get organized by asking questions that sometimes come too late when they come to mind (such as when you get sued and the documentation you needed is not there).

LandlordMax software? - Posted by Rick Hall

Posted by Rick Hall on July 14, 2007 at 16:29:51:

Has anyone used this software for residential property management? I am taking over managing a 22 unit and need some software, nothing ultra-comprehensive, just rent roll, basic accounting, tenant information, etc. I don’t want to spend $500-$1000 for it. This is only $147, and looks pretty good from their website.

Thanks in advance,
Rick Hall

Why Bother? - Posted by Jimmy

Posted by Jimmy on July 16, 2007 at 06:55:48:

I agree with Frank and DM. I have 90+ units, and get along just fine with Quicken (very similar to Quickbooks) for all of my accounting, and a few Excel spreadsheets (for tenant rosters, etc).

Re: LandlordMax software? - Posted by Frank Chin

Posted by Frank Chin on July 15, 2007 at 07:24:52:


I have over a dozen to manage, and Quickbboks did just fine for me.

Having been in the IT field, computerizing operations, I sometimes beleive simplicity is better, and some things are even better run manually.

Having done implementation of “enterprise software”, an enterprise with 22 customers is simplicity itself.

Years back, a friend bought an apartment building with about 36 units. He moved into one 1BR apartment, fired the management company, and building manager, and did the managing himself.

When I first went by to visit his “headquarters”, he ran the building from a small desk with a large cardboard chart above it. It’s about two feet high by three feet wide, the size my kids used to do “science projects” nowadays.

The first column on the chart is the apartment numbers. The second column is the name of the tenants, their home and day phone numbers, monthly rent.

Then it’s followed by twelve columns, Jan to December. When the rent is paid for the month, a big “Red X” goes into the box. There are green dots going across on the month boxes when leases come up for renewal.

It was intuitive, a few seconds to understand the system, and at a glance I can tell in the midde of July that as all the boxes had an “X” up to July but one, I can tell right away he had one tenant behind, and how far behind. I can tell how many leases are coming up for renewal glancing at the July column, by couting the green dots.

Tenent complaints??

He has little slips tacked onto the tenant box for outstanding complaints, and takes it down when completed. This is before the days of “post it’s”.

I can replicate the system on an Excel spreadsheet with some bells and whistles. And whatever tenant system you want to buy would incorporate my friend’s simple chart in it’s rudimentary form.

In Quickbooks, I set up tenants as customers (with phone numbers and other info), automtically bill them at the beginning of each month, apply cash as recieved etc… The chart of Accounts mirrrors the “schedule E”, so when I print out the P&L, I got the schedule E as well.

One drawback of my friends system is tracking expenses, and separation by properties if you own more than one. This is where Quickbooks help me.

But for keeping track of tenant issues, rents, my freind’s chart on the wall was the best I’ve seen.

Don’t make it complicated!!!

Frank Chin

Re: LandlordMax software? - Posted by Rich-CA

Posted by Rich-CA on July 14, 2007 at 20:22:45:

Have you downloaded and tried out the trial version.

Re: LandlordMax software? - Posted by Kristine-CA

Posted by Kristine-CA on July 16, 2007 at 10:49:01:

In the 80s and 90s my father managed large vacation condo complexes
in Florida. They were 50 or more units. The rental periods were
usually less than two weeks. There was cleaning between rentals to to
track. Plenty of maintenance issues. And many of the owners had
specific requirements or limitations for their units.

My father had exactly the same system you describe. At the time I was
a managing editor in NYC for a textbook company. I was amazed at
how much my father’s charts looked like the ones I had made for my
project. 9 books, 100 lessons each. Each lesson had to go to a writer,
an editor, a supervisor and then to the art department. Then to the
copyeditor, proofreader, etc. Each person had to bill and be paid. Lots
of checks and little stickers. But at any moment I could tell you where
every page was. My Dad could tell you the status of any unit and could
look over his shoulder to see what vacancies he had when potential
renters called.

I have yet to be able to use Excel to that degree of efficiency. It is a lot
easier to make a check mark or write in a date on a manual charts than
doanything in excel. This is not a problem with excel. A computer
screen and keyboard is not always faster or more efficient or easier to
read than a paper chart. Kristine

Re: LandlordMax software? - Posted by Rich-CA

Posted by Rich-CA on July 15, 2007 at 20:47:19:

Nicely said, as always. Any suggestions where I can find a good “ideal” chart of accounts for QB. I spent 20 years as one of those systems designers who developed enterprise systems. My largest was for handling construction work for the phone company, including work orders, invoice recon and payment. For some reason since changing careers I just don’t want to do the IT stuff any more, so anything I can find or borrow that shortens the time and effort on the record keeping side is welcome.

Re: LandlordMax software? - Posted by Rick Hall

Posted by Rick Hall on July 14, 2007 at 20:34:55:

Not yet, I am about to tomorrow. I’m leaving my full-time job to take on this project, and I must say, searching for management software and individual health insurance practically is a full-time job in itself!!!

Re: LandlordMax software? - Posted by Mark (NC)

Posted by Mark (NC) on July 16, 2007 at 14:33:10:

Then again, you could have it all in Excel and print out a chart on a weekly basis with all the info on it. Then mark any changes on the chart. Next you would transfer the data back to Excel at the end of the week just prior to printing a new chart.

Re: LandlordMax software? - Posted by Penny

Posted by Penny on July 20, 2007 at 22:00:31:


FYI - Peachtree Complete Accounting (QuickBooks arch-enemy) has template charts of accounts for property management and real estate.

Re: LandlordMax software? - Posted by M. Osterman

Posted by M. Osterman on July 16, 2007 at 11:40:48:

Jon Hyre has a course I took a few years ago. KISS guide to investing I think. It comes with several chart of accounts that I’ve found quite useful.


Re: LandlordMax software? - Posted by Rich-CA

Posted by Rich-CA on July 14, 2007 at 21:13:36:

I downloaded the trial and started loading my info into it. One limitation immediately popped up. Each vendor only has one phone number entry in it. Most of my vendors AT LEAST have an office number, cell number and a fax number. Additionally, the e-mail field was not there either (I have several vendors that I normally contact this way).

This from just 5 minutes with the software. Personally, I have used Rent Manager and I have been told the Quicken product is very serviceable.

Why is there separate software? - Posted by dealmaker

Posted by dealmaker on July 15, 2007 at 06:22:59:

I couldn’t figure out why people buy this stuff. I’m the least computer literate person around and I’ve never used any software other than “Excel”.

Granted, I never had 22 units to manage, but it worked fine for the 16 I did have.

Although it did take me close to an hour to set up the first time. I just took all the info I had on “real paper” and made an excel file out of it.