Should You Use Quickbooks for Rental Properties?

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Quickbooks is the go-to expense tracking software for most businesses, but I haven't always found Quickbooks to be the most effective for me. Should you use Quickbooks for rental properties? Instead, I use a piece of software called Rentastic. Rentastic is the EASIEST way to keep track of rental property expenses. It's an app we've been working on for the past year, and it allows you to quickly and easily keep track of your real estate portfolio. Add your rental properties, import your transactions, and then classify you transactions in seconds. Use the mobile app to classify transactions on the go and see how your real estate portfolio is performing. Quickbooks can still be a great option, but I think there's too much configuration required out of the box because it's not specifically designed for rental properties.

[AndrewRMoloCPA]

To me quickbooks works pretty well for rental properties. I use locations instead of classes. and you can also classify transactions from the main property down to the units inside the property if you're managing a condo for example. But, I agree with you It's a little bit complicated to setup and you'll have to sacrifice simplicity for better dimensions. This is the reason why accountants like quickbooks more than the business owners do. But great comparison this is actually on point.

[sahilchaturvedi]

Isn't Rentastic your app? You should really disclose that more clearly, if so.

[pierre-henripaitre]

Thanks, I am going to give it a shot at the end of the year. To be noticed: the app seems to be not available on the Android store in Canada for the moment.

[foodzashion]

Bryce, we are into 2023 is this app still work and what other apps do you recommend for automatically rental payment with late fee??
I know this is not the subject that you talk about in this video but do you know how I got get a copy of rental tenant screening and lease agreement?
Thanks for your time

[reymonfitness]

Would you also use this soft ware for a fix and flip project ?

[sam]

Does the Transaction section has a way to add car mileage? If the car is driven or any expenses for new properties not yet brought, how would we add those expenses?

[raymondpang]

can it feed into different performs for finding new tenants?

[bryceaxelrad]

If you are going to leverage 2+ million dollars deals you need to have legit P&L and balance sheets that show your classes for everything and separate what it is for. I think this is perfect for someone getting started but I think you're going to find this very limiting and quicker than you realize.

[natalieeyny]

Does this track renters payment that would be either entered manually or automatically once deposited and is their any features for monthly bills generators

[akimblack]

Are you able to add all travel expense if you go to look at properties?

[luisfrias]

Bryce first time watching this video and is now May 2022. Do you still use this services or have you found something better?

[ohholygoodness]

Hi Bryce, Thanks for the Videos. Is there a reason you decided agains Buildium?
Thanks!

[traciwilcox]

What app do you use for your flips then? We have rentals and flips

[Phrish]

Is Rentastic your company? I.e. did you develop it and/or run the company?

I use Stessa right now, but always like exploring my options.

[jeromeburrasca]

Can your tenants pay their rent electronically with this program?

[beepollen]

Confused about why he refers to Rentastic as “they” when he’s the one who created this website/app. This is just a commercial for this product rather than a review/comparison video. Sketchy AF that he doesn’t say that.

[sheilawhitley]

I am self employed real estate agent & we have rental
Property. Can I keep Up with real estate business along with rental?

[margaretcohen]

Awesome video as always! Have you ever tried Doorloop or Yardi before starting rentastic? Was wondering if you had any insight as I'm evaluating both atm.

[forladiaspora]

Bro, super helpful breakdown! I'm a big fan of a great user experience and you totally sold me of Rentastic. Thanks!

[SoccerFam_pitch]

Thank you so much! I was debating on whether I should invest in quickbooks for our rentals for the last few weeks and you have helped with the answer!