Managing rental properties as a DIY landlord can be challenging. Many landlords face difficulties handling tasks such as tenant screening, rent collection, and property management. As the rental market evolves, the need for streamlined processes becomes crucial. Software solutions have emerged to alleviate these challenges, making management easier and more organized. With the rise of technology, landlords now have access to tools that simplify their workload, enhance communication with tenants, and ensure a positive rental experience for everyone involved.

Introduction

In this article, we will explore three landlord software options: TurboTenant, DoorLoop, and Stessa, each of which offers unique features tailored to different types of landlords. For instance, TurboTenant stands out with its user-friendly interface and comprehensive tenant screening services, while DoorLoop provides robust property management capabilities that cater to larger portfolios. Stessa focuses on financial tracking and reporting, making it an excellent choice for landlords who prioritize accounting and tax preparation. 

Our goal is to compare these software options and help Tulsa landlords choose which platform best fits their rental management needs. By examining the functionalities and benefits of each software tool, we hope to provide an understanding of how these tools can transform the way landlords operate their businesses, ultimately leading to increased efficiency and profitability.

Key Features to Consider in Landlord Software

When evaluating landlord software, it is essential to understand which features align with your requirements. Here are some key capabilities to look for:

• Tenant screening and applications: Automated systems for background checks, credit reports, and rental applications.

• Rent collection and payment processing: Easy methods for tenants to pay rent online and for landlords to track payments.

• Lease management and document storage: A centralized space to manage lease agreements and relevant documentation.

• Maintenance tracking and communication: Tools for tenants to request repairs and landlords to track the status of these requests.

• Accounting and financial reporting: Comprehensive financial management tools that facilitate bookkeeping and reporting.

• Cost and scalability for growing portfolios: Consideration of pricing structures and how well the software adapts to a larger property portfolio.

TurboTenant: Overview and Best Use Cases

TurboTenant is designed with small-scale landlords in mind, offering a range of free features tailored for efficient rental management.

Key Features: TurboTenant includes free tenant screening and applications, online lease signing and management, and automated reminders for rent collection. It also offers basic maintenance request tracking, making it a comprehensive yet uncomplicated solution.

Pros: The major advantages of TurboTenant include its free service for landlords (with tenants covering application fees) and its user-friendly interface that suits small landlords. Additionally, there are no contracts required, giving landlords flexibility.

Cons: However, TurboTenant has limitations in accounting features and lacks built-in maintenance management tools.

Best for: TurboTenant is ideal for small DIY landlords, managing a few properties, who want a straightforward, cost-effective solution.

DoorLoop: Overview and Best Use Cases

DoorLoop provides a more comprehensive solution for landlords with multiple properties, focusing on extensive property management capabilities.

Key Features: This software supports full-fledged property management, including leases, tenant tracking, payments, and maintenance. DoorLoop integrates with QuickBooks for accounting and enables customizable workflows and automation, in addition to being mobile-friendly.

Pros: The platform is robust, equipped for medium to large property portfolios with advanced reporting features and dependable customer support.

Cons: A significant point to note is the necessity of a monthly subscription, starting at $69, which may deter some landlords. Additionally, new users may experience a learning curve.

Best for: DoorLoop fits landlords managing multiple properties, who require a comprehensive property management solution.

Stessa: Overview and Best Use Cases

Stessa positions itself as an ideal tool for real estate investors focused on financial tracking.

Key Features: The platform boasts automated financial tracking and reporting, free rent collection, and expense tracking features. It also includes performance dashboards for ROI analysis and tax preparation tools.

Pros: Stessa stands out as a completely free option for its core features, offering strong accounting and financial tools, ideal for investors overseeing multiple properties.

Cons: Despite its strengths, Stessa lacks tenant screening and lease management tools, which could limit its appeal for landlords needing comprehensive property management.

Best for: Stessa is best suited for landlords who prioritize financial tracking and reporting over tenant management.

What If DIY Property Management Isn’t for You?

While managing your rental properties yourself saves money, it is accompanied by considerable time and effort. Key tasks like tenant screening, legal compliance, and maintenance coordination can become overwhelming.

When to Consider a Property Management Company: If you have multiple properties and find day-to-day tasks challenging, live far from your rental properties, prefer a more hands-off investment strategy, or struggle with tenant issues, it may be time to consider hiring a property management company.

Pros of Professional Property Management: Professional services handle marketing, tenant screening, rent collection, maintenance, and ensuring compliance with local laws, while saving you time.

Cons of Hiring a Property Management Company: This comes with its downsides, such as management fees that typically range from 8% to 12% of the monthly rent, and less direct control over tenant relationships and property decisions.

How to Choose a Property Management Company in Tulsa: Look for local expertise, seek referrals from other landlords, and ensure transparency regarding fees and contract terms.

Which Software (or Approach) is Right for You?

When determining the right software or management approach, consider your needs:

• Choose TurboTenant if you seek a simple, free solution focused on tenant screening and rent collection.

• Opt for DoorLoop if you require a comprehensive all-in-one platform suitable for managing multiple properties.

• Select Stessa if your primary concern is tracking rental income and expenses while maximizing financial performance.

• Consider a property management company if DIY management is too time-consuming, allowing you to benefit from a more hands-off approach.

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

Deciding on the best approach depends largely on your property portfolio size, budget, and management style. Tulsa landlords should carefully evaluate their needs and consider utilizing free trials or demos before making a commitment.

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 Tulsa property management team today!

Disclaimer

All claims are a 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.