Quicken Rental Property Manager 2.5 Software Review

http://www.thereibrain.com/quicken - Wondering how Quicken Rental Property Manager 2.5 works? Is it for you? I've filed a in-depth review of the software and workout out a $10 discount w/ Quicken if you think this is for you.

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Closed Caption:

I my name is Trevor mock founder of the
rei brain . com
and this video lesson here is kind of it
was spurred on by some readers here a
few weeks ago I got a reader the email
me
they're asking me what type of property
management software i use to manage my
rental properties and what property
management software that the might be
good for them
so what I did was I went out and bought
a few different softwares worked with
the company's to get a little discount
and i'm going to review one of them here
for you and I have a couple other videos
i'm going to review some other property
management software is for you so you
can look at the software find out what's
right for you and make a good decision
from there
so right here you can see i am on our
homepage at w-w-w dot the aria brain .
com
I let me hop on over to google page and
a lot of people they type in when
they're finding we're looking for their
property management software you might
type in property management software
yeah so that's what i did i typed in
property management software and Google
here
let's look through the first few results
I'm sure these are probably the more
popular one since they are two at the
top of the search rankings and get a
little bit more traffic so first one
property management software property
management software for rentals and
apartments rent right property
management spot for let's take a look at
this one
ok and i have looked at these sites
before so these aren't this isn't the
first time i've looked at these sites
written right looks like a very very
reputable type of software here for
property management and I was looking
through through it earlier
they do give you a free trial so it's
definitely worth taking that free trials
to try it out to see if it works for you
from what I've seen from rent right it's
more of an advanced software i would say
if you have more than 20 25 30 units
rent right maybe in your ballpark
if you have less than that many units
than a cheaper and more simple property
management software probably work for
you ready let's go through this really
quick
this one I believe is about two hundred
and fifty dollars so we are not going to
review this one right now we'll wait to
review this one another video head down
down down to landlord max easiest
property management software they say
let's see
okay once again website that's good
very reputable looking company and once
again they do have a try now
free trial version you can try out for
30 days to see if you like it or if you
do like you can buy it now
there's in a moderate price range
hundred and forty seven bucks and i'm
going to go over this one a little bit
with you today but the one that most
people are asking about in the emails
were right here
number three property management
software quicken rental property
click on their site here and I think a
lot of people are going to this one
because of course they're familiar with
the quick and products are familiar with
the quickbook products and in other
products that into it puts out and
they're just kind of comfortable with
with that name they know it's it's
pretty well supported
so you click here you see big old gray
letters here 99 99
so it's a little cheaper obviously they
kept below that that a hundred dollar
mark
and this is the product that i'll review
in depth for you right now show you
everything that it does everything that
it doesn't do that i wanted to do
whether it's right for you and also
notice is 9999 i was able to work out
with quicken for our viewers and readers
a ten dollar discount
so if you watch this whole video at the
end of the video
i'll give you a special link and code to
go to actually get your ten dollar
discount so you can get the software for
89 90 97 99 anything
so that's that's not a huge discount but
hey better nothing ground by capital
starbucks coffee or something like that
so anyhow
quick and rental property management
manager 2.5 is the latest version i
actually bought this one myself right to
start of the year to see if i can plug
it into my own rental properties to see
if it worked so i did buy this one and
i'll show you how it works
and now here we are here is the the home
page basically actually will go down
here to rinse center
here's the main page for quicken rental
property manager 2.5 the things i do
like about quick and rental property
manager
are they are this the software is
extremely simple to use
that's probably the one of the most
simple software I've seen it looks nice
I mean I don't know if you really care
whether the software looks nice or not
but hey this software looks pretty nice
and has a good little graphics here easy
to read
good nice colors are easy on the eyes so
if you care about that kind of stuff
now this one may kind of energy in that
direction but anyhow I like they're
saying this is a very very simple
software i would say this software is
probably best for managing between one
in 20 units
this will manage more units technically
but it just doesn't have some of the
capabilities i would want for 20-plus
units but it really really could capably
manage
you know 20 50 100 200 units
if you have something else to kind of
kind of help you out in in reporting
some of the things that this does not do
for you
so anyhow sorry if I sound like I'm
shivering a bit i'm actually outside of
my my deck I probably should have went
inside and did this but outside of my
deck right now and the wind started
blowing it's a little chilly so bear
with me a little bit today appear in
portland it's the only day here this
this winter that has been signed
so I'm kind of taking advantage of it
sitting on my deck and enjoying the Sun
a little bit anyhow here is the main
page for the quick and rental property
manager now you
you see I've entered in some property
information
here are some units here are some
tenants rent amount it basically gives
you a quick snapshot of your properties
if if i were to have two properties
three properties for properties in here
and of course see the address or the
name of the property going down the line
in all those properties would be
displayed right here
so basically i just started plugging in
this this software into this property
for a couple weeks ago so I haven't had
time to update everything get all of the
rinse in get all the expenses in that
type of thing but it is pretty pretty
functional right now - looks like it
works pretty well so right here quick
overview of the rent center once again
you have your property and for unit info
tenant info a quick jump links right
here
so if you want to look at a tenant's
information you click that and go over
all the tents information either contact
and for all that type of stuff will get
out of here because that's actually one
of my tenants info and probably wouldn't
want to give them out to everybody so
and I once again here is the rent amount
of the date do and let's go on over here
to the right
january 2008 these are the rents for
that unit
put here and it shows the the entry that
I made for this so it shows the unit the
tenant of the right amount check that's
up to thank so when you cancel that out
there and makes it pretty easy the first
the first place I go when I use the
software is the rent center and then if
I need to enter a payment let's say any
dinner payment for 1979
I click here and then you can go right
from there
it already has everything in put in here
with the property information
the unit information the tenant the date
which is today says it's applied to
februari Oh a rent you can change it if
you want
of course the amount of the snazzy stuff
their payment type check credit card
difficult electronic cash
pretty much every payment type that you
could imagine and then your little memo
area here and when you're done with that
you can click click click here to print
a receipt and it will bring up your
printer and print the receipt for you
right into Microsoft Word it looks like
that's actually the first time I've done
that so that's kind of cool
it throws right into microsoft word so
you can format it right there if you
want or just going to print it out so
let me exit out of that and then when
you're done click on one of these and
then it'll get you right out of there so
I'm going to cancel that out
whatever you want to just standard in
there anyhow
ok so this is your main ring center once
again this is a very quick snapshot
I over the last six months or last 12
months whatever
click your print button pretty simple
pretty pretty simple
the first thing you'll do when you get
this software if you do that once again
this is best for between 1 and 20 units
very very simple software easy software
to use not hard it off so if you're one
of the people between 1 and 20 units of
possibly even up to 30
this may be a good solution for you to
keep your keep track your expenses your
income that's after thing on your
properties
so first thing you do when you get into
this is you set up your properties and
you have all these top bars up here you
have your edit properties tenants
reports those type of things
click add properties I goes through here
I'm you can choose single-family home
multi-unit building condo townhouse
duplex triplex and that basically is the
type of the the building and then you
right here you can set up the different
units so in this particular case this
property 1979 has four different units
and I a customized what I call those
units
here's the location so it's pretty
simple when you add the properties
it's very very easy to do
it doesn't take more than I'd say 2-3
minutes to to do it at the max so then
once you add a property pops up over
here on the left-hand bar very easy to
track your properties in if I was to
have two or three or four properties in
your each one of those properties would
be shown down the sidebar here since I
only have one this is the property film
ok this is how easy it is to enter in
information for your properties
what i would do let's say I have a an
expense some just going to call a repair
I'm clicked on this property you can see
some of the green highlight here
big old buttons up here enter expense as
easy as that folks
i mentor expense let's say Kate already
brings up this property
let's say is in 1977 course the date
paid to these are all the vendors that
it automatically stores the vendors in
there
as you enter them so next time when you
pay to that same vendor it brings it
right up for you
let's say paid to
George Bush George Bush did a little bit
of work forest do to repair the repair
cost us a hundred and ninety-nine
thousand dollars so George's work is not
very cheap the guys
ok George charges ninety-nine thousand
dollars for a little bit of work at once
again it was a repair as i said so
go through all these these different not
accounting categories they have you can
add your own categories right here just
by clicking the add sub category button
but it already has repairs in here for
me so I'll click repairs if if you
recruit any mileage in his car during
this this repair
just go ahead and type that in their
payment type let's say I paid George
with a check check number 111
I do have the receipt as George was nice
enough to send me receipt and three
assets under 15
ok you don't you can put anything you
want here in the memory ax
that's just for you to do what you want
with but how that's as simple as that
you put that click enter done if you
don't have any more expensive center if
you have more expensive center click
enter new click enter done gives you the
nice fancy cash register type sound
there and puts right here
so right here I have an accounting I can
just look at it very very quickly look
at all the action that this property's
had expenses any income that and that's
everything
so here we have you can just go down the
line lock shop couple rinse that i
received and the mortgage and of course
it
put your expenses right here in come
right here
very very simple one quick to read this
tax category
you know has cleaning deposit refund him
whatever you classify that as that is
what it places it under and at the
bottom you have your right here you have
your expenses all the way down to tell
you that there so it looks like George
kind of put me over the edge there a
hand
my expenses for this month are 1 million
six hundred and fifteen dollars in my
income is only twenty two hundred so it
looks like George's repair cost me a ton
of money but i have joking aside this is
this is very simple to use
click on your property can see an
instant snapshot of where that property
is right now
you year-to-date cash flow if you keep
up on all your expenses and income
that's inaccurate that accounting right
there view year-to-date cash flow your
income expenses so guys if you're
looking for an extremely simple to use
property management software that won't
break the bank
if you have between 1 and 20 units I'd
say 30 to 50 units at the max but one
and twenty years is what this is really
made for to me anyway
then this software i think we'll do the
job for you
so let's kind of explore a little bit
more this is to show you a good idea of
what else the quick and rental property
manager 2.5 can do for you
shared expenses tab if you have more
than one property
let's see i had entered five or six
properties in here and i had expenses
that are shared over the properties such
as my administration staff paying the
admin staff to manage the properties or
pain my property manager a flat fee for
the properties are you know anything
anything that cannot be attributed to
one single property but shared across
all the properties
this is where you enter those expenses
and once again it's the same things that
last screen there you have your expenses
your income in your year-to-date cash
flow across all the properties there
so kind of a cool little feature and
reports reports this this is one thing
that I was somewhat disappointed in with
the rental quick and rental property
manager 2.5 i know this is the third
version of the software and a lot of the
users have been asking for more and more
robust reports and there still is a ton
of reporting in this i'd like to see
some more reporting reporting that
basically can drill into any facet of
your rental business and find out where
you're at i'll show you a different
preset piece of software here later and
you can look at the more in-depth review
of the other piece of software that has
a ton of reports of course you won't
probably won't use all the reports but
some of them are extremely useful when
you're looking at the performance of
your property
so anyhow right here we have the reports
tab once again everything is really
really easy to get to
click reports this pops up your income
in expense report and you have a tax
report so I i haven't explored the tax
report yet we can do that right here
but the income expense report is just
like what it sounds like
now let's click the income and expense
report and you can differentiate between
the properties once again i only have
the one property entered in here but if
you have multiple properties you can
click all properties and figure out your
income expense across all your
properties which is a pretty darn cool
little feature i think or just the one
property so we'll stick with the one
property
I can pick your date range pretty
standard type stuff here and I column by
a month corner once again that's a
pretty standard stuff here
one nice feature that do like as you can
do it by unit to find out which unit
which units in your properties are may
be costing you the most
then you should find out why their cost
me the most and then tip it up the bud
so you can cut the cost increase your
income
here we go i click unit up pops the
report and of course you can click the
print button and I'll throw it into word
i'm guessing and you can print it out
right there but it's it's pretty simple
income you have your in cameron received
goes across each unit here and you can
click all these to go to that specific
record if you wanted to you can see the
expenses
once again you can click on these to
find out what that specific expenses and
tell him all up down here at the bottom
so pretty cool report there once again
very simple report and this is this is
the type of report that i would do
monthly most likely i do a monthly
report put it in the file
find out where my property is going how
its performing if I spent too much that
month in repairs let's say I need to
find out why
so it doesn't happen again but that's
the the main reporting function and once
again if you have between 1 and 20 units
this is this is perfect for you
I usually don't need a whole lot more
reporting than that
so this will do the job
your tax report and once again I haven't
taken a look at this so let's take a
look at it and see what it is
ok tax report looks like this is the
report that you'll print off when you
take your taxes to your tax man makes
for a nice clean easy report for the tax
preparer to read
looks like it will save them a lot of
time save you a lot of times so that's a
cool little feature also just go over
this really quick income your expenses
goes down the line breaks them down
between the different categories which
is awesome because the tax preparer will
need the different categories because
the different categories of course or
text in different ways and have
different right off so pretty cool
take your different tacks here let's see
details details and just it's the exact
same report course different format but
it actually breaks it down by the
specific tenant and the specific
expenses that type of thing
so what's getting click the print button
if one print off
one thing I didn't go over yet was Enter
rent
it's the same thing as expense screen
when you say you collect rinse one day
become right here when you open up your
software this work takes you and get
your rents in front and click enter rent
you throw all the correct information in
there
click enter down or enter new and it
puts right in there for you so you can
do you can enter your rents and that
type of thing for you know under under
23 minutes of that max for rent so
pretty simple
I think that's about it you can backup
your data of course export this to turbo
tax which is a chemical feature saves
you a ton of time from in putting all
that stuff yourself come tax time
if you do your taxes yourself
go see here let's look what else this
puppy has to offer here now add your
properties once again
view income and expense ledger that's
this that I went over there with you
before
tenants if you have a new tenant you
come up here click Add tenant
let's do that right now the tenant field
is in once again it's pretty simple form
here has your names
if it has another occupant let's say
it's a marriage capital or even a couple
college buddies are in together
you can throw the other document
occupant in their contact info car
licensed driver license note fields the
property if you have multiple properties
once can pick the property the unit the
day they moved in
lease term all this nice stuff your rent
them out renewed a late fee
grace . if any security deposit so this
this has most of the features that i
would like to see once again if I just
don't a few units so this would be
perfect for me between one and twenty
like I said this is perfect for if since
I own little more and that it doesn't
quite have the features I want in a
piece of software but i will go over
another piece software with you
check our blog at www . the rei brain .
calm and go to the blog link and click
on our blog and you can find in there
the reviews that we've done in these
types of property software property
management software click cancel
anyhow that's the essence of quick and
rental property manager 2.5 i hope that
helped answer your questions after those
readers that sent me in the questions
for viewers that didn't send me the
question we are curious about a rental
property management software whether
it's right for you or not
well and with this
quick and rental property manager
manager is a 2 45 is a very very good
piece of software for somebody that's
looking for simplicity because this is
very very simple to use
it's very easy to use there's nothing
confusing about it anybody with with the
basic basic computer skills can run this
very easily
it doesn't take any type of extra skills
it's it's an all around good at piece of
software for what it does
so what I recommend this to people
yes I I definitely what actually i'm
using it myself right now just as a test
run for the first few months
I'm just see how it goes for a couple of
my properties and then we'll go from
there but that the book of the
properties are on a different piece of a
more robust property manager software
but once again i would recommend this
for people with units between 1 and 20
units
perfect for you guys perfect for getting
things done quickly
perfect for having that reporting right
there your fingertips this this piece
off for one thing i did notices it's not
going to confuse you to the point where
you feel like it's a burden to get into
the software and enter your expenses and
enter your rinse
I found it very easy and it's not a
burden at all to do it so if you're
looking for a software that you want to
stick with and that that you don't get
intimidated by this is the software to
get that's about it that about wraps it
up pretty quick little review here if
you want to get the software like I said
we did not negotiate a ten dollar
discount with our readers and viewers
for the software seen picked up for 8999
rather than the ninety nine dollar price
that they're charging on their website
to get that ten dollar discount
follow the link at the end of this video
I just wait for this link and type in
your browser there and it'll directly
write to the discount page they've set
up for us for the 8999 price tag
so
if you do want 18 and press that once
again stick on this video for about 15
20 more seconds to get that link and
then head on over there and make sure
you purchase it through that link or you
won't get that discount
so once again this is trevor mock with
the rei brain . com bringing you this
review on quick and rental property
manager 2.5 and I hope it helped you out
and hope it helped you make the right
decision
if this one doesn't have the features
you're looking for head over to our site
once again and look for the reviews on
the more robust landlord and property
manager softwares to find the right one
for you
so once again thank you and I'll
challenge you soon
yeah