Quicken Rental Property Manager Review

Quicken Rental Property Manager 2010 is a software program which allows a property owner to organize and manage all of their personal and rental property financial items centrally. It includes all the tools and features of Quicken Home & Business, plus automatically identifies tax-deductible expenses for rental property, advises the owner of which rents already are paid and which are still pending, and tracks expenses and income by property. The homepage of the rental property management software allows the landlord to see the entirety of their profit and loss at a glance, so they can make better informed business decisions on a daily basis.

Tax-deductible rental property expenses are automatically identified in the rental property management software, and advice is given on how you can maximize deductions as well as how to minimize taxes due at the end of the year. Quicken also automatically creates your tax reports that can be given to an accountant or other tax professional. Because QRPM allows the user to easily export their data to TurboTax when preparing their taxes, one of the most dreaded elements of rental property ownership, completing the IRS form schedule E, is no longer a concern.

Having all rental and personal property finances combined and accessible in one place is another noteworthy feature of quicken rental property manager. The homeowner can input information from credit cards, loans, online banking accounts, 401(k) and investment accounts and automatically access account data from over 6,700 financial institutions, which includes PayPal. The program will also automatically categorize each expense so that the user can easily manage finances and make adjustments as necessary.

Of course, as the name suggests, Quicken Rental Property Manager will track the performance of an individual's rental properties. The owner can instantly see which tenants have paid their rent, which haven't, which properties are yielding the most profit, and where adjustments might need to be made. It will also help the user avoid any fees and penalties by tracking available funds against pending bills.

The new 2010 version of Quicken Rental Property Manager features several upgrades and features not available in previous editions. These include an improved toolbar and menu, a new guided setup, as well as access to Quicken's Live Community, which allows the property owner to get advice and help from other Quicken users without ever leaving the program. All of these features combined with the comprehensive investment planning tools that allow the user to track, optimize and analyze their investment portfolio, make QRPM an invaluable tool for any landlord.

For the rental property owner managing ten or fewer properties looking for a way to streamline their property management processes, quicken rental property manager is an excellent software choice. Track income and expenses, manage tenants, and keep tabs on investments, all with a single program. While QRPM will not replace traditional accounting software, it is a great choice for the home user who needs to combine his or her data all in one place, with the added bonus of being able to export relevant tax information directly to TurboTax during tax season.

However, quicken rental property manager has a number of major drawbacks that anyone intending to buy the software would be well advised to consider. For starters it scores very poorly in integration capabilities including data import and export functions. Anyone who has worked with any electronic quantitative data, whether financial or otherwise, understands the importance of having an application that can export data in formats that are readable by many other different word processing or data compilation applications. Its reporting function is also quite limited. Finally, and probably the worst thing, is that product support whether via phone or email is not as robust as one would expect for a company of its size. The last thing anyone would want is to be a stuck with a product with no support!

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