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In the St. Louis rental market, many aspiring landlords are entering the world of property management. However, managing rental properties yourself often poses significant challenges. From tenant screening to rent collection, these tasks can be time-consuming and overwhelming without the right tools. Thankfully, landlord software has evolved to streamline these processes. In this article, we will compare three prominent software options: TurboTenant, DoorLoop, and Stessa. Our goal is to help St. Louis landlords discover the best software to suit their property management needs.
Key Features to Consider in Landlord Software
When looking for landlord software, you need to understand the key features that can make a difference in managing your rental properties. Here are some vital features to consider:
Tenant screening and applications: The ability to screen potential tenants is essential for minimizing rental risks.
Rent collection and payment processing: Automating rent collection can save time and reduce payment issues.
Lease management and document storage: Securely store important lease agreements and documents.
Maintenance tracking and communication: Facilitate communication regarding maintenance requests and track their resolution.
Accounting and financial reporting: Comprehensive financial reports help landlords keep track of income and expenses.
Cost and scalability for growing portfolios: Ensure the software can grow with you as your property portfolio expands.
TurboTenant: Overview and Best Use Cases
TurboTenant is a popular option among new landlords for its simplicity and affordability. It offers several key features:
Free tenant screening and applications: Landlords can screen tenants without any upfront costs.
Online lease signing and management: Provides a straightforward interface for managing leases.
Rent collection with automated reminders: Helps ensure timely payments from tenants.
Basic maintenance request tracking: Easily manage tenant maintenance requests.
One of the main advantages of TurboTenant is that it is free for landlords—the application fees are paid by the tenants. This makes it user-friendly for small-scale landlords who may be managing only a few properties. However, its limitations include restricted accounting features and a lack of comprehensive maintenance management tools. TurboTenant is best for small DIY landlords looking for a low-cost, simple solution.
DoorLoop: Overview and Best Use Cases
DoorLoop presents a more comprehensive property management solution for landlords with larger portfolios. Its key features include:
Comprehensive property management: It includes managing leases, tenants, payments, and maintenance all in one place.
Accounting integration with QuickBooks: Facilitates seamless financial management alongside existing accounting tools.
Customizable workflows and automation: Tailor operations to meet specific business needs.
Mobile-friendly platform: Access property management features on the go.
While DoorLoop offers robust features suitable for medium to large portfolios, it comes with a monthly subscription starting at $69 and may involve a learning curve for new users. It is ideal for landlords with multiple properties, who require a full-service property management solution.
Stessa: Overview and Best Use Cases
Stessa focuses on financial management, providing landlords with tools to track rental income and expenses effortlessly. Its key features include:
Automated financial tracking and reporting: Expenses and income are tracked automatically, reducing manual entry.
Free rent collection and expense tracking: Manage finances without any costs.
Performance dashboards for ROI analysis: Visual insights into rental performance.
Tax prep tools and integrations: Simplifies tax preparation with integrated tools.
The primary strength of Stessa lies in its powerful accounting and financial capabilities, making it ideal for real estate investors tracking multiple properties. However, it does lack tenant screening and lease management tools, which can be critical for some landlords. Stessa is best for investors and landlords who prioritize financial tracking over tenant management.
What If DIY Property Management Isn’t for You?
While managing rental properties yourself saves money, it demands significant time and effort. Tasks like tenant screening, legal compliance, maintenance coordination, and bookkeeping can quickly become overwhelming.
Consider a property management company if you find DIY too burdensome. Here are a few signs:
You own multiple properties and struggle with daily tasks.
You live far from your rental properties and require local support.
You prefer a hands-off investment approach.
You find it challenging to manage tenant issues, legal matters, or maintenance requests.
Professional property management offers expert services in marketing, tenant screening, rent collection, maintenance, and evictions. It ensures compliance with local laws and saves time. However, landlords must weigh these advantages against the cost, with fees typically ranging from 8%–12% of monthly rent, and reduced direct control over tenant and property decisions.
To choose a property management company in St. Louis, look for local expertise, check online reviews, and ensure transparency in fees and contract terms.
Which Software (or Approach) is Right for You?
Your choice of software should line up with your specific needs. Here are some pointers:
Choose TurboTenant: If you need a simple, free solution for tenant screening and rent collection.
Choose DoorLoop: If a comprehensive, all-in-one platform is necessary for managing multiple properties.
Choose Stessa: If your focus is on tracking rental income, expenses, and investment performance.
Consider a property management company: If handling your property management becomes too time-consuming and you prefer a hands-off approach.
Wrapping Up: Top DIY Landlord Software in St. Louis: TurboTenant Vs. DoorLoop Vs. Stessa
The best approach to managing your rental properties depends on your property portfolio size, budget, and management style. St. Louis landlords should carefully evaluate their needs before settling on one software option.
Taking advantage of free trials or demos can be a smart step before committing.
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 St. Louis 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.
