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Billionaire Andrew Carnegie once said: More money has been made in real estate than all industrial investments combined. Today’s smart young people and wage earners invest their money in real estate. ”
Whether his statement about millionaires is true or not,Real Estate Investment Remaining
Proven way to increase wealth. But if you choose to invest in physical real estate (as opposed to real estate),REITs), the job doesn’t end once the property is purchased.
To ensure the highest return from your real estate portfolio, you must manage your real estate effectively.Tenant cloudrecognizes this challenge and provides software to assist landlords and property managers who need to manage multiple properties.
In this TenantCloud review, we explain how the software works, its pros and cons, and share some comparable alternatives.
brief overview
- Internet-based property management software designed for small and medium-sized landlords.
- This simplifies submitting and accepting applications, signing leases, collecting rent, and tracking maintenance requests.
- It can be used by landlords with a few properties or investors with hundreds of properties.
Tenant cloud details |
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Product name |
Tenant cloud |
number of units |
Unlimited units on all plans |
Monthly |
$15-$50/month, 20% off when paid annually |
Main features |
Rent collection, property listing, tenant screening |
promotion |
45 days free trial |
What is Tenant Cloud?
Tenant cloud is a property management software app designed for landlords and property managers. Founded in 2014, the company takes a “cloud first” approach to software.
In short, the software, its security protocols, and all tools provided by TenantCloud are designed to be secure internet-based tools. Today, TenantCloud supports her over 3 million landlords and tenants in all 50 states and over 40 countries.
What do you offer?
TenantCloud provides tools to help landlords and property managers manage their finances, market their properties, and ensure their tenants are happy with their rental experience. Here are some of the key features you can expect when you sign up for TenantCloud.
Rent collection and simplified accounting
TenantCloud allows you to collect rent on an unlimited number of units. Online rent collection is simplified, making it easier for tenants and landlords to manage their monthly rent payments. TenantCloud will set the rent deadline so you don’t have to worry about rent deadlines anymore.
TenantCloud not only collects rent, but it also allows you to pay service providers, so you can allocate maintenance costs appropriately to each unit. The software makes it easier to understand the profitability of your portfolio and makes filing your Schedule E taxes much easier.
List vacant properties
Listing rental properties can be surprisingly slow, even if you only have one or two properties to list. You should create your own listings on Apartments.com, Realtor.com, Hot Pads, Trulia, etc.
TenantCloud simplifies the listing process by allowing you to create one listing on the TenantCloud platform. Once your listing is ready, TenantCloud syndicates it to all major listing sites. Once you mark a property as occupied, TenantCloud will remove the listing.
TenantCloud also makes it easy for potential tenants to ask questions and apply for apartments. No need to type your question in an email or text message. Instead, you can survey all prospects through software.
Streamline tenant onboarding
Marketing an apartment is one thing, securing tenants is another. TenantCloud simplifies this by ensuring all applicants undergo a thorough background check as part of the application process.
Background checks include criminal records, eviction records, income checks, and credit history. Landlords can decide whether to pay for the background check or have the applicant pay for it themselves.
Once you have selected your tenants, you can deploy them quickly by submitting leases using TenantCloud. Both can e-sign leases using her TenantCloud.
Track maintenance requests online
Rental property ownership doesn’t always have sun and rainbows. Broken windows, leaking toilets, and furnace stoppages are common occurrences. TenantCloud does not allow home repairs, but tenants can submit online maintenance requests.
You can use TenantCloud to complete your service request and send the request to a local service provider who can send you an invoice. Tracking maintenance requests with TenantCloud ensures that financial tracking is covered as well as the work itself.
45 days free trial
Not sure if TenantCloud is right for you? We offer a 45-day free trial for landlords and property managers. This trial will help you determine if TenantCloud offers sufficient functionality or if you need to upgrade to a higher service level or different software.
This low-risk trial is great value for cost-conscious landlords who want to make sure they’re getting value before paying a monthly fee.
Are there any fees?
TenantCloud offers three service tiers: Starter, Growth, and Business. Starter costs $12/month and allows you to list and manage “unlimited” units, but it’s not a lease builder, accounting sync with accounting software QuickBooks, or property management features (rather designed for property managers). Important features such as are not provided. from the landlord).
Also, Starter has some practical limitations (most notably only 10 tenant leads per month), making it difficult to effectively manage more than about a dozen properties.
The Growth plan costs $40/month. This tier extends the practical limit to accommodate up to 20+ properties. Growth also unlocks all property management features, so it can be used by property managers as well as landlords.
The Business plan enables the ability to manage your team through TenantCloud. Easily manage hundreds or even thousands of units through TenantCloud. Prices for businesses depend on the number of managed units.
How does it compare to TenantCloud?
TenantCloud offers a starter set at a very low price, but with limited features compared to its closest competitor, Rentec Direct. Rentec Direct allows you to set up multiple user accounts with the introductory product (Rentec Pro). To unlock this feature, you must upgrade to TenantCloud Business.
That said, TenantCloud offers basic functionality at a very low price. With this software, you can advertise your property, track potential customers, manage maintenance requests, find tenants, and collect rent for just $12 a month. Most landlords with less than 12 properties will be perfectly happy with the Starter Plan.
Overall, TenantCloud offers excellent value for those who can use the Starter service tier. If you need to upgrade to a “growth” tier, Rentec Direct may offer more features at a similar price point (although Rentec’s pricing depends on the number of units listed).
If you are price sensitive, consider free services such as Baselane or Avail. Both platforms offer incredibly robust accounting, rent collection, maintenance tracking and tenant screening tools.
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evaluation |
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Pricing |
$15-$50 per month.Save 20% when you pay annually, custom pricing available for business plans |
$45-$2750/month, 10% off when paid annually |
free |
online payment |
yes |
yes |
yes |
Tenant screening |
yes |
yes |
no |
rent collection |
yes |
yes |
yes |
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How do I open a TenantCloud account?
To open your TenantCloud account, visit the following link. green sign up button Please enter your e-mail address. Then enter the details of at least one rental property.
You will then be required to enter the payment details (full name and credit card number) that will be used to pay for your subscription, unless you cancel before the end of the 45-day trial period.
More properties can be onboarded during the trial period or after deciding whether to purchase a subscription.
Are you safe and secure?
TenantCloud offers one of the most comprehensive security designs for rental property software. Because it is cloud-first software, it is specifically designed to keep tenant and landlord information safe.
Has best-in-class encryption, access, and security policies (which are shared with other top property management software) Rentec Direct). Overall, using software like TenantCloud is much more secure than using a personal cloud his account (such as Google Drive) and arguably more traceable than paper-and-pen transactions.
There is always the risk that TenantCloud could be hacked and you and your tenant could lose your personal information. However, the security measures TenantCloud has put in place make that much less likely.
How can I contact TenantCloud?
TenantCloud’s address is PO Box 709522, Sandy, UT 84070. Email our Customer Support team at support@tenantcloud.com or call 1-888-364-7408 between 9am and 5pm Central Time. Current customers can also request support using the TenantCloud app.
Is it worth it?
Tenant cloud is an inexpensive software that makes landlord management easier. Tenant screening and onboarding is particularly robust considering the price you pay. However, to take advantage of robust communication and team management features, you should upgrade to TenantCloud Business. If the communication element is important to you (no matter how small your real estate portfolio is), you’ll want to look for alternatives.
Overall, TenantCloud is a bargain software, but you can find more robust alternatives by raising the price a bit.
Editor: Colin Graves
Reviewed by: Chris Muller
TenantCloud Review: Key Features, Pricing, Pros & Cons post first appeared on The College Investor.