Managing rental properties can often present numerous challenges for DIY landlords. From tenant screening to rent collection, the tasks can become overwhelming without the right tools in place. Fortunately, landlord software can streamline many of these processes, making it easier to maintain properties while increasing efficiency. By comparing these platforms, our goal is to assist landlords in making an informed choice that best fits their unique needs.

Introduction

In this article, we will take a close look at three popular landlord software options: TurboTenant, DoorLoop, and Stessa. Each presents distinctive features that cater to different types of landlords. Making the right choice can significantly improve efficiency and save valuable time and resources.

Key Features to Consider in Landlord Software

Tenant screening and applications

Effective tenant screening is crucial for finding reliable renters. Look for software that offers comprehensive screening tools, including background checks and credit assessments.

Rent collection and payment processing

Automated rent collection can reduce the time spent on payment reminders and improve cash flow. Features such as online payment options and invoice generation simplify the process.

Lease management and document storage

Good software should provide a centralized location for managing leases and important documents. This feature allows landlords easy access and organization of legal agreements.

Maintenance tracking and communication

Maintenance requests should be easily manageable through the software. A dedicated communication platform allows landlords to respond promptly to tenant needs and keep records of repairs.

Accounting and financial reporting

An integrated accounting system is essential for tracking expenses and generating financial reports. This feature enables landlords to maintain a clear understanding of their property's financial health.

Cost and scalability for growing portfolios

As landlords expand their portfolios, software that can grow with them is vital. Understanding the pricing structure and potential scalability options is crucial for long-term success.

TurboTenant: Overview and Best Use Cases

TurboTenant is a popular choice for DIY landlords seeking an efficient solution that won’t break the bank. This platform shines, with features like free tenant screening and online lease signing.

• Key Features: TurboTenant offers free tenant screening and applications, online lease signing and management, rent collection with automated reminders, and basic maintenance request tracking.

• Pros: The service is free for landlords as tenants cover application fees, making it user-friendly for small-scale landlords, without hefty software costs. There is no contractual obligation.

• Cons: However, TurboTenant comes with limited accounting features and lacks built-in maintenance management tools.

TurboTenant is best suited for small DIY landlords managing only a few properties, who prefer a simple, cost-effective solution.

DoorLoop: Overview and Best Use Cases

DoorLoop positions itself as a comprehensive property management solution designed for larger portfolios. Its extensive features make it a robust option for serious landlords.

• Key Features: The platform includes comprehensive property management capabilities, QuickBooks integration for accounting, customizable workflows, and a mobile-friendly interface.

• Pros: DoorLoop is particularly effective for medium to large property portfolios, providing advanced reporting and exceptional customer support during onboarding.

• Cons: The software does require a monthly subscription starting at $69, and new users may face a learning curve due to its complexity.

Landlords with multiple properties in need of full-service management will find DoorLoop to be a powerful ally.

Stessa: Overview and Best Use Cases

For those prioritizing financial tracking, Stessa stands as a compelling option. It excels in providing automated financial tracking and reporting tools.

• Key Features: Stessa includes automated financial tracking and reporting, free rent collection, expense tracking, performance dashboards for ROI analysis, and tax preparation tools.

• Pros: Completely free for core features, it stands out for its strong accounting capabilities, making it an ideal choice for real estate investors with multiple properties.

• Cons: However, it lacks comprehensive tenant screening and lease management tools, which may be limiting for some landlords.

Investors and landlords focused on rigorous financial tracking rather than tenant management will find Stessa particularly beneficial.

What If DIY Property Management Isn’t for You?

While self-managing rental properties can save a significant amount of money, it also requires considerable time and effort. Tasks such as tenant screening, legal compliance, and maintenance coordination may become overwhelming.

Landlords should consider hiring a property management company if they face challenges in managing day-to-day operations, especially if they own multiple properties or live far from their rentals. A property manager can handle marketing, rent collection, and tenant screening while ensuring compliance with local laws.

• Pros of Professional Property Management: Provides expertise, saves time, and handles tenant-related issues while ensuring legal compliance.

• Cons: Fees typically range from 8% to 12% of the monthly rent, which may diminish direct control over management decisions.

To choose the right property management company in Jackson, seek local expertise, review online testimonials, and ensure transparency in contract terms and fees.

Which Software (or Approach) is Right for You?

Choosing the right software ultimately depends on your needs:

• Choose TurboTenant if you seek a straightforward and free solution for tenant screening and rent collection.

• Select DoorLoop for a comprehensive, all-in-one platform designed for managing multiple properties efficiently.

• Opt for Stessa if tracking rental income and expenses is your primary focus.

• Finally, consider a property management company if you find the DIY approach too time-consuming.

Wrapping Up: Top DIY Landlord Software in Jackson: TurboTenant Vs. DoorLoop Vs. Stessa

Ultimately, the best approach to managing rental properties will depend on factors such as portfolio size, budget, and personal management style. Jackson landlords are encouraged to assess their needs and leverage free trials whenever available to make an informed decision.

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 Jackson property management team today!

Disclaimer

All claims are the 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.