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.
Agreed, qbooks shows you a real PnL and Balance sheet. What you showed us here is unfortunately not a profit and loss (security deposit is balance sheet liability, down payment goes on balance sheet as well and other etc.) eventually you pay much more for CPA work instead of having everything categorized properly by qbooks or any other simple accounting software.
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.
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.
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.
Wow I' m just shock someone mentioned expert Mrs Patricia I thought I' m the only one trading with her. She helped me recover what I lost trying to trade my self
Thanks for introducing me to Mrs Patricia My first investment with Mrs Patricia gave me profit of over $24,000 us dollars and ever since then she has never failed to deliver and I can even say she's the most sincere broker I have known
Yes I' m also a living testimony of expert Mrs Patricia , Mrs Patricia has changed my financial status for the best.all thanks to my aunty who introduced her to me
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
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?
This guy is clearly just doing a promotion for rentatstic. If he used the app all the time, why are the vast majority of his expenses "uncategorized"??
Does this track renters payment that would be either entered manually or automatically once deposited and is their any features for monthly bills generators
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.
There are so many! I’m trying to figure out how many software services to leverage. I can have several cheap ones or possibly one pricey one that does it all? How are you currently setup to handle PM, Accounting, Tenant ease of use etc? With 28 beds, I’m trying to get out of spreadsheets and manual reconciliation/rent collection, recording buy/flip/sell and just plain home improvement expenses etc...
Thank you so much for the video! Quick question have you tired out Buildium before you used Rentastic? If so how do you think they compare to each other? Thanks again!
We still use Rentastic to track our flips, though it’s intentionally desired for rentals. It still works pretty well, you just have to figure out how their system works.
@@BryceMatheson I do a home inspection business also. Since it is just income and expense, do think I could use this also. I’d rather not get into quick books if I don’t have too. Is this your app?
@@everybodyelevated3876 I’m not sure if it could be used to keep track of other business expenses. I don’t think it’s designed for that, but maybe you can reach out to their support team and ask them.
