Before buying Quicken Rental Property Manager for Windows, see our full review here to learn the good and bad points of Quicken Rental Manager.
Despite its name, it is actually not a dedicated rental property software - To be precise, it's more of an accounting software with add-on rental property features. In a nutshell, it allows you to manage and keep tabs on your income, expenses, savings, investments and taxes.
For our Quicken Rental Property Manager 2015 review, we shall focus on whether this well-known software is able to offer you serious help in managing tenants and rental properties.
When dealing with rental properties, you have money flowing all over the place - Rent income, mortgage payments, repair costs, utility bills and even legal fees. This program helps you keep track of these cash flow and calculate your profit and loss figures.
The program's "Rent Center" tab allows you to store your tenant information and rent records. With Quicken, you can also keep track of rental property tax deductions but it has to be paired with TurboTax (sold separately) before you can complete tax preparations.
This review will be split into 2 pages: The plus points of Quicken (see below) and its drawbacks and problems in Part 2 of this Quicken Rental Manager Review.
The first thing that we noticed was the clean layout of the program. Most buttons and functions are right where you expect them to be - This is not just easy on the eyes, but also saves you time when searching for program features.
One thing that makes Quicken stand out is how it is able to string all your banking, loan, credit, investment accounts in one place. While this gives a clear big picture snapshot of your overall financial health, entering and updating all your (non real estate) financial details can be tedious.
For this current version, this feature has been further improved so you can now access all your online financial accounts with a single password. However this feature is far from perfect - While it works seamlessly with some sites and automatically updates your financial details (a real time-saver), for others it refuses to work because Quicken doesn't accept certain file formats.
The "Rent Center" also scores points for being both well-designed and helpful. It allows you to check the status of your rental properties, tenants and rent payments all at one place. This is especially handy for comparing between different properties and tenants.
If any of your rental properties are vacant or a tenant is late with his rent payment, a red warning icon will appear to remind you. At the same time, you can also set up reminders for your unpaid bills. A simple, yet clever feature.
Before you spend a single cent on Quicken Rental Property Manager 2015, let's take a closer look at its drawbacks and flaws first: