Quicken Rental Property Manager 2013 is a property management software for individuals who are landlords. You can track rental income, expenses, and tenant information with Quicken Rental Property Manager. Quicken Property Manager 2013 may be a better alternative to paper-and-pencil of spreadsheet methods of accounting for your rental property activity. Spreadsheets are prone to various types of errors (see Spreadsheet Horror Stories, for an example) and property management software applications can keep track of more information than manual methods.
Long Story Short
Quicken Rental Property Manager 2013 is designed for individuals who have a few rental properties and want a basic, easy-to-use software application to keep track of rental income and expenses. Quicken Rental Property Manager will make the accounting and year-end tax reporting a little smoother, especially since you can export your rental tax statements (i.e., Schedule E) into TurboTax or print them for your accountant. Quicken Property Manager 2013 also has various education modules that will help you understand what you need to track and how you can plan for tax, investment, and other financial situations.
Basic Features in Quicken Rental Property Manager
Quicken Rental Property Manager provides basic accounting for landlords. The software enables landlords to:
- Track rental income and expenses by property and unit.
- Track tenants and store lease information.
- Tools to analyze profit and loss by individual property.
- Generate a tax report for Schedule E preparation.
- Track mortgage and loan information.
Quicken Rental Property Manager 2013 also has basic personal financial features that are found in the personal financial version of the product. In fact, Quicken Property Manager is Quicken Personal Finance Software with property management features built over that product.
Highlights of Advance Features
Quicken Rental Property Manager 2013 is equipped with some advanced features that some users will find useful. As the landlord, you can attach external documents to properties or accounts if you want to have a paperless property management system. For instance, you can scan receipts and attach them to items paid in the check register. If you ever need to see what you paid for, the receipt will be there for you to view.
Quicken Rental Property Manager 2013 can link to mortgage accounts so that the loan information is automatically imported into the application. This information includes the loan balances, transactions, principal, interest, and other related loan details. You can even view your pay-off date, pay-off progress, and the interest paid on your loan with Quicken Property Manager 2013.
Quicken Rental Property Manager's Drawbacks
Quicken Rental Property Manager 2013 is better suited for landlords who have smaller properties. If you are trying to manage a large rental property with more than 100 units, then you will find this property management software is not designed to meet your needs. In fact, Quicken Rental Property Management 2013 is not designed for professional property management companies. It is designed for individuals who have a few rental properties and want some basic, easy-to-use property management features to help with their property management.
Quicken Rental Property Management 2013 is not a pure property management software. The program is a mix of property management and personal finance software. An accurate description of the product would be to say that Quicken Rental Property Management is Quicken Personal Finance with property features built on top of that foundation. In fact, the program is designed to be used to manage your rental properties as well as your personal finances. The downside of this is that you can easily commingle your personal business with your rental business. However, you may find that this means all your data is all in one easy-to-use program so you will have to decide whether or not it is a drawback in your situation.
Quicken Rental Property Management 2013 is an easy-to-use property management and accounting software application for the do-it-yourself type of landlords. As a personal financial management software, with property management features, you will have a lot of personal finance features in addition to the basic property management features with Quicken Rental Property Manager 2013.