Kenton, excellent video, Sir. In 8 brief minutes you convinced me to try Tenant cloud. I have subscribed to your channel. Keep the quality content coming!
So glad you found it useful, thank you for watching and commenting! Feel free to reach out if you have any questions as I use it everyday to manage my properties.
Thanks for the video. I’m growing my realestate business in Chicago and I’ve reached a point were I need assistance to manage my units. I’ll give this a try.
I have a series LLC and each property is in its own LLC. I don’t really do anything in TenantCloud to show who owns each property since I personally own them.
How do you handle reconciliation with credit card and bank account expenses? Must you integrate with Quickbooks? What are your thoughts on using Wave App for properties - has the benefit of reconciliation? Thank you!
Good question. I have never heard of wave app, but I'll need to look into it. big picture - tenantcloud is the interface between me and my tenants and I use it to manage my lease dates and tenant payments. Quickbooks integrates with my bank accounts, so they are completely separate. Quickbooks tracks all income and expenses (taxes, mortgage, insurance, repairs, etc.). I match up the income in tenantcloud with the income in quickbooks per property, which is fairly easy, but otherwise I keep them separate. here are a couple videos where I explain it further - here's a video on setting up my banking and accounting - th-cam.com/video/VlPYkzfhz4s/w-d-xo.html here's a video on how I do my tax accounting - th-cam.com/video/afQ4wlJxogE/w-d-xo.html
Hello, Good detailed video. My situation is particular. 1. It's property in south america. 2. It is two buildings of 3 floors rented as single room occupancy. Is tenant cloud exclusively for multiple individual listings or, based on your experience, can it keep track of individual room units within the same property. Single-room-occupancy is not all that common anymore stateside. I feel like i'm in between worlds. On one side hotels/hostels and on the other condos. Thanks,
First the software is completely free to try out, so definitely try it. In my opinion if you just named the rooms as units it would be exactly the same as a multi-unit building.
I tried to list my property that is still in progress of being built. But Tenantcloud keeps saying that "google can't find my address". Is there another way to go pass it? and how do I get the free version. it looks like I have to make a payment after the 45days trials
I think they may no longer have the free version available. I would recommend submitting a help ticket to see if there is a way to input a new address. TenantCloud is usually fairly quick to respond
I unfortunately am not help support for TenantCloud, I'm just a landlord that uses and recommends the software for other landlords. I recommend that you open a help ticket - their support has always been very helpful to me even before I had a paid subscription with them. They'll get back to you and help you out soon.
Hey Kenton, great video! Could you cover the options you tried out before settling on TenantCloud and why you didn't go with them? I'd really appreciate any insights you have into DoorLoop, since that's my #1 contender right now.
I looked at everything I could find at the time I was switching (I switched a couple years ago now). I was using rentecdirect and switched from it when some things changed in terms of fees and I didn't think it was worth it anymore. I personally have not looked at Doorloop, so I unfortunately can't intelligently talk about it that one.
Yes. I charge a $50 application fee, which the tenant pays with a credit card when they apply. I receive the full $50 fee in my bank account a day or so later. You can set the fee to whatever you want per listing so it doesn’t have to be the same for all listings.
@@broketowntv9363 tenantcloud provides you with a free website where your listings are at and they also populate your listing on other sites for you. The application link is on your own Tenantcloud website
Does it have a prescreening feature? When I run an ad, I may get 100 people inquiring and I don't want them to have to pay anything, at this first step. Ideally, one could compare a pre-applications and choose the best applicants to get a full screening.
I list my properties on TenantCloud as well as a bunch of other websites - th-cam.com/video/rvg-8PRVhao/w-d-xo.html When people inquire I actually send them a video walk thru along with the requirements. It normally reduces the showings to only those that are really interested. I don’t have anyone apply until after I’ve shown them the apartment. Here is my application video I send to applicants - th-cam.com/video/CWmJXk5oEco/w-d-xo.html
What specific advantages did you see over Rent Redi? It seems to support most of the features but it’s $20/mo instead of $50/mo for the package I chose on tenant cloud. Interested to hear your thoughts
I did the research to determine which software to choose around 2 years ago and I do not remember even considering Rent Redi, so I can not give an informed opinion on how it compares to TenantCloud. I still use TenantCloud and am very happy with it, but I completely understand that this landscape changes often. However, it is a major task to change your software once you have it fully loaded with a lot of properties, so I'd definitely recommend testing any new software before switching.
I currently use DocHub - it's $59.88 for the year, so less than $5/month if you pay for the year. I am definitely open to looking at others is you hear of another low cost online signing website, but for the price DocHub has worked great for me so far.
Hi Kenton. I have an older tenant that pays with a paper check, will Tenant Cloud allow me to scan the paper check as a payment option? It sounded like you alluded to it, but I want to make certain as it’s hard to find a clear answer on their site. Thanks!
I have a couple tenants that pay by check and I actually ask that they send me 5 or 6 checks at a time all dated the first of each month, then I can deposit them on the first and I'm not going to the PO Box and no one worries about them being lost in the mail or late. As for scanning - I deposit them with my chase mobile app and just record them as received in TenantCloud. You can upload a copy of the check in the payment section if that is what you are asking, I just don't bother since it will be saved at my bank as well.
yes, I am still using TC. I have not had any tenants have any issues with the application to apply for an apartment through TC (all tenants must complete the application) or rent payment through ACH or using the credit card payment feature - I have some tenants who use those options. I also have a couple tenants that send in checks - I ask that they send at least 3-6 months at a time all dated for the 1st of each month. But the majority of my tenants pay each month through zelle, venmo or paypal.
@@shawnlee264 When you find a great deal, then the money and/or a partner with money should not be hard to find. The trouble is finding a deal that both you and your partner will both believe in, meaning the partner may not think it is as good of a deal as you do.
Yes, you are correct. You would need to upgrade to a paid plan for free ach. With the free version I accepted checks, Venmo, PayPal and zelle. But with the paid plan, ACH is really nice since you can set it up to receive the payment and transfer it directly into your bank account, so it’s completely automated.
@@KentonKnows Kenton, I'm curious to know when you accepted payment s thru Paypal, did you or the tenants pay the fee? As you probably know, a rent payment is a payment for a service, which per Paypal's rules "requires" a fee. Theoretically, a tenant could call their payment a "loan" or personal transaction to a "friend," for which there is no fee due.
Hello Kenton, just found your channel - very good content. One question, I currently own 7 units and looking for the best way to structure my business. Would you still recommend Tenant Cloud & Quick books if you were starting today ? Thanks a lot!
Yes, I would still recommend TenantCloud, but I moved from Quickbooks to wave and have found wave works just fine for my accounting. Quickbooks got expensive and is overkill for my business
Hi Kenton, watched your video 2 years ago when you made it. Since then there have been some other great options. Are you still using TenantCloud or have you switched?
Great video, What main additional reporting features does the paid version offer that the free does not? Been using the free to a couple years myself but find the accounting features to be lacking as I add properties. Thanks!
Great question. I really do like Stessa, but I don't use it as I find it to be too rigid for my needs. I also have a real estate brokerage business and I would prefer one accounting system that I can use for all of my businesses and my personal accounting as well, so I use quickbooks. Here is a video on how I set up my businesses, bank accounts and how I use quickbooks - th-cam.com/video/VlPYkzfhz4s/w-d-xo.html
Just hired a VA to handle my 12 units maintenance requests, rent payments and other headaches. Been looking for something easy to use that allows for automated follow ups and card payments and accepts online applications. I think this is my ticket
Hey Kenton, thanks for the video...are you still using Tenant Cloud? I have been using it for my property management business in Utah and I like it OK but it frustrates my owners...just wondering if it gets better with use and getting more familiar with it...thanks!
Yes, I am still using it and still think it is the best solution for my needs. I think any program gets better as you gain familiarity with it and become more of an expert with the components you use. I definitely recommend that you reach out to tenantcloud tech support for any issues, they have always been responsive and helpful. I would also question what exactly the owners are looking for as frustration usually is a result of expectations not being met. So, the owners may have unrealistic expectations for the program and if that is the case, they may be perpetually disappointed with any program unless you completely customize it for every owner that wants a specific item, but that probably isn't realistic or worth your time/effort to create that report or information. And if this is the best program for your needs as the manager, you may want to convey that to the owners, I mean after all, if they hired you to manage their property, I would hope they would want you to use the best tools available to you to effective manage their property even if it is a little frustrating on their end.
I made my decision about what software to use five years ago on somewhat different criteria. My criteria were reasonable cost for a small landlord, a complete solution with no missing pieces of the PM responsibilities, the ability of the software to grow into managing large properties, good reputation for customer support, long standing reputation of the software. I looked at all the big names like App folio, Buildium, etc. and I found most of them were disqualified on the basis of being too expensive. I did not look into Tenant Cloud. I ended up choosing Rent Manager, which has been around for a long time. The cost is not prohibitive and it is very good for it's standard chart of accounts, flexibility and reporting. I wish you had mentioned the other PM software that you examined but that did not adopt. That would be very useful.
BEWARE ! The RentRedi interface is not secure!! Your personal information and your tenant's information is not secure! My landlord account was hacked only to learn that RentRedi allowed my bank information to be changed three times within a week without notifying me. Rents were collected in full, redirected and sent to a stranger. Ryan and Ed Barone have gone silent and have stopped communicating. I urge all users to evaluate your risks associated with this flimsy interface and absolutely use another system.
Hi Kenton, I was using Cozy.co, but can no longer use them, so I am looking for property mgmt software. Are you able to upload bills to tenants thru this platform? As well does it track expenses for your properties?
yes, you can upload bills and things. I normally only put in invoices that are the responsibility of tenants and use quickbooks for my actual accounting software. Here is the video where I describe how I do that - th-cam.com/video/VlPYkzfhz4s/w-d-xo.html
Smash the LIKE and check out TenantCloud! Thank you for watching!😀
Kenton, excellent video, Sir. In 8 brief minutes you convinced me to try Tenant cloud. I have subscribed to your channel. Keep the quality content coming!
So glad to hear you liked it and I’m glad it helped you in your evaluation of the software!
This was so helpful. I've been looking for something like this for a long time
So glad to hear it helped you!
really useful content, love learning more about TenantCloud! sounds very cool.
Thanks so much!
straight to the point, I subscribed and shared! keep it up!
Awesome, thank you!
Great content as always. Thank you, Kenton!
Thanks for watching and commenting, so glad to hear you liked it!
I was looking to switch from my management software to Tenantcloud and was debating...you helped me make up my mind :)
Awesome!
Great information and down to details. Thank you!
You are welcome - so glad you liked it! Thanks for watching and commenting.
Wow! Increadible. Thanks
So glad you found it useful, thank you for watching and commenting! Feel free to reach out if you have any questions as I use it everyday to manage my properties.
This video is exactly what I needed!
So glad to hear it helped
Nice! Maybe one day when I get more than 1 property to leverage this tool properly.
For sure, congrats on one, we all started with our first.
I enjoyed this explanation. Thank you!
You're very welcome!
Thanks for the video. I’m growing my realestate business in Chicago and I’ve reached a point were I need assistance to manage my units. I’ll give this a try.
Congrats - I’m in chicago as well! I’m sure you’ll love Tenantcloud
If you need any help, I’m a real estate broker in Chicago as well!
welp, looks like this man knows his stuff, def convinced me to try the platform
Thank you!
Awesome !!!
So glad you liked it!
Great video are there any feature you wish were on the platform that aren't
Yes, I'd like the number of banks and credit cards it stores to be higher, I believe it only stores up to 6.
Do you do a different LLCs for each location that you have rentals at and is tenant cloud allow you to do those different LLCs in the paperwork?
I have a series LLC and each property is in its own LLC. I don’t really do anything in TenantCloud to show who owns each property since I personally own them.
How do you handle reconciliation with credit card and bank account expenses? Must you integrate with Quickbooks? What are your thoughts on using Wave App for properties - has the benefit of reconciliation? Thank you!
Good question. I have never heard of wave app, but I'll need to look into it. big picture - tenantcloud is the interface between me and my tenants and I use it to manage my lease dates and tenant payments. Quickbooks integrates with my bank accounts, so they are completely separate. Quickbooks tracks all income and expenses (taxes, mortgage, insurance, repairs, etc.). I match up the income in tenantcloud with the income in quickbooks per property, which is fairly easy, but otherwise I keep them separate. here are a couple videos where I explain it further - here's a video on setting up my banking and accounting - th-cam.com/video/VlPYkzfhz4s/w-d-xo.html
here's a video on how I do my tax accounting - th-cam.com/video/afQ4wlJxogE/w-d-xo.html
Hello, Good detailed video.
My situation is particular. 1. It's property in south america. 2. It is two buildings of 3 floors rented as single room occupancy.
Is tenant cloud exclusively for multiple individual listings or, based on your experience, can it keep track of individual room units within the same property.
Single-room-occupancy is not all that common anymore stateside. I feel like i'm in between worlds. On one side hotels/hostels and on the other condos.
Thanks,
First the software is completely free to try out, so definitely try it. In my opinion if you just named the rooms as units it would be exactly the same as a multi-unit building.
Hi Kenton, great review! Just wondering, now 3 years later, if you are still happy with TenantCloud?
Yes, absolutely
I tried to list my property that is still in progress of being built. But Tenantcloud keeps saying that "google can't find my address". Is there another way to go pass it? and how do I get the free version. it looks like I have to make a payment after the 45days trials
I think they may no longer have the free version available. I would recommend submitting a help ticket to see if there is a way to input a new address. TenantCloud is usually fairly quick to respond
How do I edit my photo to JPEG file
I unfortunately am not help support for TenantCloud, I'm just a landlord that uses and recommends the software for other landlords. I recommend that you open a help ticket - their support has always been very helpful to me even before I had a paid subscription with them. They'll get back to you and help you out soon.
Can I add guest fee or parking
fee on Tenant Cloud?
yes, I have a few tenants who I add an extra recurring monthly parking charge for them.
Hey Kenton, great video! Could you cover the options you tried out before settling on TenantCloud and why you didn't go with them? I'd really appreciate any insights you have into DoorLoop, since that's my #1 contender right now.
I looked at everything I could find at the time I was switching (I switched a couple years ago now). I was using rentecdirect and switched from it when some things changed in terms of fees and I didn't think it was worth it anymore. I personally have not looked at Doorloop, so I unfortunately can't intelligently talk about it that one.
I might have to reconsider tenant cloud
It's free to sign up, look around in it and see what you think.
Can I charge a application fee of my choice ? On Tenant cloud
Yes. I charge a $50 application fee, which the tenant pays with a credit card when they apply. I receive the full $50 fee in my bank account a day or so later. You can set the fee to whatever you want per listing so it doesn’t have to be the same for all listings.
@@KentonKnows they apply on the link u provide ? Or on the listing site that tenant Clout gives you??
@@broketowntv9363 tenantcloud provides you with a free website where your listings are at and they also populate your listing on other sites for you. The application link is on your own Tenantcloud website
@@KentonKnowsok thank u so much I really appreciate it
@@KentonKnows hey man I was wondering if we can exchange social media’s.
Does it have a prescreening feature? When I run an ad, I may get 100 people inquiring and I don't want them to have to pay anything, at this first step. Ideally, one could compare a pre-applications and choose the best applicants to get a full screening.
I list my properties on TenantCloud as well as a bunch of other websites - th-cam.com/video/rvg-8PRVhao/w-d-xo.html
When people inquire I actually send them a video walk thru along with the requirements. It normally reduces the showings to only those that are really interested. I don’t have anyone apply until after I’ve shown them the apartment. Here is my application video I send to applicants - th-cam.com/video/CWmJXk5oEco/w-d-xo.html
What specific advantages did you see over Rent Redi? It seems to support most of the features but it’s $20/mo instead of $50/mo for the package I chose on tenant cloud. Interested to hear your thoughts
I did the research to determine which software to choose around 2 years ago and I do not remember even considering Rent Redi, so I can not give an informed opinion on how it compares to TenantCloud. I still use TenantCloud and am very happy with it, but I completely understand that this landscape changes often. However, it is a major task to change your software once you have it fully loaded with a lot of properties, so I'd definitely recommend testing any new software before switching.
Very helpful! Thanks
Glad it was helpful!
This video was very helpful thanks! What online lease signing websites do you use/recommend? Thanks.
I currently use DocHub - it's $59.88 for the year, so less than $5/month if you pay for the year. I am definitely open to looking at others is you hear of another low cost online signing website, but for the price DocHub has worked great for me so far.
Hi Kenton. I have an older tenant that pays with a paper check, will Tenant Cloud allow me to scan the paper check as a payment option? It sounded like you alluded to it, but I want to make certain as it’s hard to find a clear answer on their site. Thanks!
I have a couple tenants that pay by check and I actually ask that they send me 5 or 6 checks at a time all dated the first of each month, then I can deposit them on the first and I'm not going to the PO Box and no one worries about them being lost in the mail or late.
As for scanning - I deposit them with my chase mobile app and just record them as received in TenantCloud. You can upload a copy of the check in the payment section if that is what you are asking, I just don't bother since it will be saved at my bank as well.
Awesome, thanks!
Great review!
Thanks!
Great Video. I know you are still using TC. Did you find it was difficult for your tenants to set up on tenant cloud and pay rent?? thanks MIke
yes, I am still using TC. I have not had any tenants have any issues with the application to apply for an apartment through TC (all tenants must complete the application) or rent payment through ACH or using the credit card payment feature - I have some tenants who use those options. I also have a couple tenants that send in checks - I ask that they send at least 3-6 months at a time all dated for the 1st of each month. But the majority of my tenants pay each month through zelle, venmo or paypal.
Great informative video.
Thanks so much for watching and commenting!
Thank you for your video Kenton, do you know if its available in canada?
You are welcome! It’s online, so yes it’s definitely available in Canada, hope it helps you with your properties.
I need a mentor for charlotte
I am in Chicago and I don't do mentoring, but if you have any questions, I can try to answer them if I don't already have a video on the topic.
What's the quickest way to get into commercial no money? If someone were to find a great deal would you partner with them( hypothetical)
@@shawnlee264 When you find a great deal, then the money and/or a partner with money should not be hard to find. The trouble is finding a deal that both you and your partner will both believe in, meaning the partner may not think it is as good of a deal as you do.
What I was reading (I think) is that free ACH isn't available with the free version of Tenant Cloud...is that true?
Yes, you are correct. You would need to upgrade to a paid plan for free ach. With the free version I accepted checks, Venmo, PayPal and zelle. But with the paid plan, ACH is really nice since you can set it up to receive the payment and transfer it directly into your bank account, so it’s completely automated.
@@KentonKnows Kenton, I'm curious to know when you accepted payment s thru Paypal, did you or the tenants pay the fee? As you probably know, a rent payment is a payment for a service, which per Paypal's rules "requires" a fee. Theoretically, a tenant could call their payment a "loan" or personal transaction to a "friend," for which there is no fee due.
Hello Kenton, just found your channel - very good content.
One question, I currently own 7 units and looking for the best way to structure my business.
Would you still recommend Tenant Cloud & Quick books if you were starting today ?
Thanks a lot!
Yes, I would still recommend TenantCloud, but I moved from Quickbooks to wave and have found wave works just fine for my accounting. Quickbooks got expensive and is overkill for my business
SOLD!
I'm sure you'll like it, feel free to reach out if you have any questions, I use it everyday for my portfolio.
Hi Kenton, watched your video 2 years ago when you made it. Since then there have been some other great options. Are you still using TenantCloud or have you switched?
I’m still using TenantCloud. I still like it and have not found any reason to even consider switching at this point.
@@KentonKnows Thanks Kenton
Great video, What main additional reporting features does the paid version offer that the free does not? Been using the free to a couple years myself but find the accounting features to be lacking as I add properties. Thanks!
Do you also use stessa?
Great question. I really do like Stessa, but I don't use it as I find it to be too rigid for my needs. I also have a real estate brokerage business and I would prefer one accounting system that I can use for all of my businesses and my personal accounting as well, so I use quickbooks. Here is a video on how I set up my businesses, bank accounts and how I use quickbooks - th-cam.com/video/VlPYkzfhz4s/w-d-xo.html
Just hired a VA to handle my 12 units maintenance requests, rent payments and other headaches. Been looking for something easy to use that allows for automated follow ups and card payments and accepts online applications. I think this is my ticket
Definitely, I've been using it for years and still believe it is the best online software for small property managers and landlords like ourselves.
Hey Kenton, thanks for the video...are you still using Tenant Cloud? I have been using it for my property management business in Utah and I like it OK but it frustrates my owners...just wondering if it gets better with use and getting more familiar with it...thanks!
Yes, I am still using it and still think it is the best solution for my needs. I think any program gets better as you gain familiarity with it and become more of an expert with the components you use. I definitely recommend that you reach out to tenantcloud tech support for any issues, they have always been responsive and helpful. I would also question what exactly the owners are looking for as frustration usually is a result of expectations not being met. So, the owners may have unrealistic expectations for the program and if that is the case, they may be perpetually disappointed with any program unless you completely customize it for every owner that wants a specific item, but that probably isn't realistic or worth your time/effort to create that report or information. And if this is the best program for your needs as the manager, you may want to convey that to the owners, I mean after all, if they hired you to manage their property, I would hope they would want you to use the best tools available to you to effective manage their property even if it is a little frustrating on their end.
ACH still free or is there a fee now, per deduction?
I don't personally pay for it, but it may depend on what package you have.
I made my decision about what software to use five years ago on somewhat different criteria. My criteria were reasonable cost for a small landlord, a complete solution with no missing pieces of the PM responsibilities, the ability of the software to grow into managing large properties, good reputation for customer support, long standing reputation of the software. I looked at all the big names like App folio, Buildium, etc. and I found most of them were disqualified on the basis of being too expensive. I did not look into Tenant Cloud. I ended up choosing Rent Manager, which has been around for a long time. The cost is not prohibitive and it is very good for it's standard chart of accounts, flexibility and reporting. I wish you had mentioned the other PM software that you examined but that did not adopt. That would be very useful.
Thanks so much for that feedback.
Are you still using this software to manage your rentals?
yes, I still use it basically everyday to manage all of my properties. I still highly recommend it!
@@KentonKnows I'll give it a try. If there is a link in your description, I'll be sure to use it!
@@marcuswilliamsYT yes there is a link in the description - thanks. Hope you like it as much as I do!
Not a fan of tenant cloud. App is buggy. Unfortunately I can’t find much well coded apps and systems.
I’ve used it for years, no issues that support didn’t correct for me.
Please get back with me ASAP.
Please see my other comment
Not free
Yes, they have changed the rates since I made this video
BEWARE ! The RentRedi interface is not secure!! Your personal information and your tenant's information is not secure! My landlord account was hacked only to learn that RentRedi allowed my bank information to be changed three times within a week without notifying me. Rents were collected in full, redirected and sent to a stranger. Ryan and Ed Barone have gone silent and have stopped communicating. I urge all users to evaluate your risks associated with this flimsy interface and absolutely use another system.
I’m not familiar with RentRedi, so I can’t comment on it. I personally use TenantCloud.
Hi Kenton, I was using Cozy.co, but can no longer use them, so I am looking for property mgmt software. Are you able to upload bills to tenants thru this platform? As well does it track expenses for your properties?
yes, you can upload bills and things. I normally only put in invoices that are the responsibility of tenants and use quickbooks for my actual accounting software. Here is the video where I describe how I do that - th-cam.com/video/VlPYkzfhz4s/w-d-xo.html
I was looking to switch from my management software to Tenantcloud and was debating...you helped me make up my mind :)
Awesome - so glad it helped you make a more informed decision!
Innago is Light years better than Tenant Cloud