Is Quicken Rental Property Manager Any Good?

Quicken Rental Property Manager Can Streamline Landlord Responsibilities

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As a landlord, managing your income, tenant information and maintenance can be overwhelming. To keep costs low, you may choose to handle all of the bookkeeping yourself. For the independent landlord, Quicken Rental Property Manager can help you manage your properties. 

Dual Purpose Accounting Software

Quicken Rental Property Manager is not only a property management software but also a personal finance software.

In fact, Quicken Rental Property Manager can be described as personal finance software with property management capabilities.

Basic Property Management Features

Quicken Rental Property Manager will enable you to:

Basic Personal Finance Features

Quicken Rental Property Manager will enable you to:

  • Link to all your bank accounts so you can categorize your income and expenses easily
  • Compare your actual spending to budget and investments to market performance
  • Set up automatic billing alerts for personal and business expenses

Limits

Quicken Rental Property Manager is capable of handling 100 properties and 100 units per property. Although these are its maximum limits, you will likely run into difficulty using Quicken Property Manager if you have rental activities of that size and scope.

The complexity of managing that many properties will probably require more sophisticated software to be effective. In these cases, the financial and tax reporting features that Quicken Rental Property Manager has will probably not be enough for you to work efficiently.For smaller groups, it is powerful enough to manage your work.

 

Not the Solution for Professional Property Managers

Quicken Rental Property Manager is not designed for all types of landlords or property managers. In fact, it is not well suited for professional property managers. If you are in the property management business, then you should look for other software products to meet your needs. Even individuals who have more than just a few properties will probably want to consider using other property management software.

Limits to Accounting Functions

Quicken Rental Property Manager has limited accounting capabilities. You can keep financial records on a cash basis, not an accrual basis. If you have more sophisticated accounting needs, you will find that Quicken Rental Property Manager does not have the ability to perform some of the tasks you need. You cannot track the cost basis of your property, depreciation, inventory, capital assets, work orders or even create invoices for tenants with Quicken Property Manager. Therefore, if you have to send periodic invoices to customers, you will have to do this in Word or another program.

Quicken Rental Property Manager is a good choice if you are the do-it-yourself landlord with a few rental properties and want to have a personal finance software as well. Quicken Rental Property Manager will let you manage both your personal finances and rental properties within the same program. You will not have to worry about learning separate accounting software programs, just one. However, Quicken Rental Property Manager is limited. As mentioned, you can only track income and expenses on a cash basis, you cannot track cost basis, depreciation or create work orders with Quicken Rental Property Manager. If you have more sophisticated property management needs, you will probably want to find another solution or you will have to develop many workarounds when using Quicken Rental Property Manager. While Quicken Rental Property Manager is a good software program, it is not well suited for everyone with rental properties.​​​​​​​​

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