Hi,
Can anyone reccomend a good software package/system for generating statements for rent-to-own properties. I have been generating statements using Excel but I'd like to get someone else to do the statements for me so need a more robust and reliable system. I'd appreciate any help on this.
Thanks.
Tony
Hi Tony
We use LoanAlert for our Instalment Sales Contracts but it's not really suitable for Lease/Options (Rent To Owns).
Just about every property manager has specialist rental property management software and should be able to handle a Lease with an Option. However there are specialist property managers for Rent To Owns. One we know, whose been doing it for a long time is:
Joseph Scarcella
0408 423 885
http://www.primerealestateagents.com.auI'm sure there are more and the other vendor financiers on this forum will be able to recommend them but Joe is easy to talk to and should be able to head you in the right direction. Good luck.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Hi Paul,
Thanks for the post. I'm more after a software package to generate statements – not so much a specialist property manager. I am happy to manage rent to own properties myself but need a better system for generating statements. My excel spreadsheets are too cumbersome and time-consuming and it's too easy to make a mistake. I heard about programs like Property Manager Pro and Rent Manager but thought there might be a specialist rent-to-own software package out there.
Can you tell me, is the LoanAlert product suitable for normal loans as well as for wraps? I have sold some properties (that I build) on second-mortgage-carry-backs so have loans to other people. Again, I currently generate statements using excel documents but would prefer a more robust system
Thanks.
Tony
Hi Tony
Yes we also use Loan Alert for second mortgage carry backs. It works well.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Thanks Paul.
Hi have a look at this link below. It will generate statements/invoices automatically and they can even pay via paypal
There is a trial for 30 days i thinkhttps://www.freshbooks.com/subscribe.php?ref=bfbe58f017003-1
Hi Tony
We too were using MS Excel to track Rent-to-Owns, and similarly found it a little cumbersome. Especially when they paid odd amounts or were late with their payments.
However, we recently altered the way we do our Rent-to-Owns, and now it's a breeze. We still use Excel, but it takes less than ten minutes per customer per month to prepare their statement and print it ready for posting.
If you need more info, just PM me and I will tell all.
Cheers
Excel really works the easiest but if you want to go all the way then this product (that you pay for by subscription) is probably as good as it gets.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
