Quicken Rental Property Manager [Plans & Features]

Managing income, tenant information, and maintenance would be very difficult. If you are running a small rental business then you don’t want to waste more money on managing your rental property. There is a better option to manage your bookkeeping by yourself and save lots of money. If you don’t know how to handle all this stuff then you can try to work on software programs that are easy to use. Quicken rental property manager is the most using software. So, you can use it to manage your rental business in a few minutes without any headache.

What you can plan and handle with Quicken rental property manager

You can see below there are several features of Quicken rental property manager some of them are following-

1. Manage your all rental properties at one place

All in one means you can do all your rental properties related work in the same place called dashboard. The dashboard shows all your property status, how many rooms are occupied, and how many rents you have received it shows all at a glance.

In this software, you can easily track your rental property value, tenants list, income, bank account, documents, and expenses. You can easily maintain the tenant information for example:- which day tenant move-in, move-out, rental agreements, and security deposit. You can also save lease terms, security deposit amount, and rental rates directly in Quicken.

2. Stay on top of tenants’ rent payments

It always stays on top of the tenant’s payment so it made it easy to track the tenant’s outstanding and paid rents in just a few clicks. The Quicken rental property manager makes easy payment by sending an email payment remainder with the payment link so the tenants can easily pay their rent. When a tenant successfully has done his payment so he gets a rent receipt for future use.

3. Make tax planning a snap

Quicken rental property manager provides the feature of tracking rental income by while you will get your exact income and it also shows the expenses have been done by your bank account or credit card. Quicken simplifies tax time by running schedule and other tax or you can directly export all the information into TurboTax so you don’t need to write the same thing.

4. Quicken is a dual purpose accounting software

Quicken software can be used for both Home & business both so you can do your personal and business accounting in one place. It is a very convenient feature is online, you can access your account while you are out of the country, simply login into your account. Use it from your mobile phone or tablet. It separates the categories of business and personal expenses and sends a payment reminder with the payment link to the tenant and you can also check the profit & loss after deduction of tax.

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Disadvantages of Quicken Rental  Property Manager

Quicken can’t add more than 100 properties

One of the biggest limitations of the Quicken rental property manager is, you can add more than 100 Properties and 100 units per property. If you have more than 100 Properties that the complexity of managing software also increases then you need to move for another rental software. It can only handle fewer properties.

Quicken is not suitable for Professional Property managers

Quicken rental property manager is designed for small rental business owners, not for professional property managers. If you are doing a business of property management then you have to look for another software to manage your rental activities.

Accounting functions

Quicken has fewer accounting capabilities and it can only keep the record on a cash basis, not an accrual basis. You can only track that money that is exchanged in hands, not when expenses are billed or when revenue is earned. According to your needs, you can move to other options. there is some example that Quicken can’t do- Inventory, Depreciation, and Capital assets.

Some other basic features of Quicken

Stay on top of rent collection

With the help of Rent Center, you can easily monitor your upcoming, paid, and overdue rent payments. If Quicken doesn’t know where to assign a transaction then it will show an unknown property or tenant message, with the help of this you can easily identify the error.

Basic Personal finance features

Quicken rental property manager provides the following features-

• By linking your bank account with Quicken you can categories your income and expenses.
• You can calculate and compare your actual spending on the budget.
• By using Quicken you can check your investment and measure your market performance.
• You can put billing remainder for personal and business expenses.

Quicken Mobile App

Quicken is also available in a mobile app so you can download the Quicken mobile app from your smartphone and tablets. It provides the flexibility to edit or change the data from your mobile phone. because your desktop data are synced with Quicken mobile app. You can do all the Quicken rental property manager activities when you are not at their desk. The Quicken data is shared between the mobile and desktop vise Versa.

We hope this article would help you to know what is Quicken rental property manager & its advantages or disadvantages. This software makes your rental work easier to manage and saves lots of time by implementing automatic calculations.