Efficiently managing rental properties in Nashville can be daunting - especially if you’re doing it all yourself. With responsibilities ranging from tenant screening to rent collection, the complexities of property management can quickly add up. This is where landlord software tools come into play, streamlining various property management tasks and making life easier for the landlord.

In this article, we will explore three prominent software options: TurboTenant, DoorLoop, and Stessa. Each of these platforms offers unique features tailored to meet individual landlord needs. Our goal is to provide a comprehensive comparison to help Nashville landlords choose the solution that best fits their requirements.

Key Features to Consider in Landlord Software

Landlords should consider the following:

• Tenant screening and applications: The ability to screen potential tenants efficiently is crucial in mitigating the risks associated with renting.

• Rent collection and payment processing: An automated process can streamline income flow into your accounts.

• Lease management and document storage: It’s vital to keep all documents organized and accessible at any time.

• Maintenance tracking and communication: A reliable system for addressing maintenance requests enhances tenant satisfaction.

• Accounting and financial reporting: Comprehensive financial tools are essential for managing income and expenses.

• Cost and scalability for growing portfolios: Ensure the platform can evolve with your growing needs.

TurboTenant: Overview and Best Use Cases

TurboTenant stands out as a cost-effective solution for landlords, particularly those managing a small number of properties. Its key features include:

• Free tenant screening and applications: This feature allows landlords to assess potential tenants without incurring costs.

• Online lease signing and management: TurboTenant simplifies the leasing process through digital solutions.

• Rent collection with automated reminders: Landlords can expect timely payments through automated notifications.

• Basic maintenance request tracking: A simple way for tenants to report issues directly.

While TurboTenant is free for landlords (with tenants covering application fees), it does have its pros and cons. It's user-friendly for small-scale landlords but lacks robust accounting features and built-in maintenance management tools. Therefore, it is best suited for small DIY landlords looking for a straightforward, low-cost solution.

DoorLoop: Overview and Best Use Cases

DoorLoop emerges as a comprehensive property management platform designed for medium to large portfolios. Its notable features include:

• Comprehensive property management: Covering everything from leases to maintenance.

• Accounting integration with QuickBooks: Ideal for those looking for robust financial management.

• Customizable workflows and automation: Tailors the platform to fit specific management styles.

• Mobile-friendly platform: Access your property management tasks on the go.

While DoorLoop offers an extensive suite of features, it requires a monthly subscription starting at $69/month and may involve a learning curve. For landlords with multiple properties who need a full-service solution, DoorLoop represents an excellent investment.

Stessa: Overview and Best Use Cases

Stessa is tailored for real estate investors prioritizing financial performance tracking. Its key features include:

• Automated financial tracking and reporting: Simplifies monitoring rental income and expenses.

• Free rent collection and expense tracking: Essential tools without associated costs.

• Performance dashboards for ROI analysis: Provides valuable insights into property performance.

• Tax prep tools and integrations: Streamlines tax processes for real estate investors.

Though Stessa is entirely free for its core functions, it lacks comprehensive tenant screening and lease management tools. Thus, it is best suited for investors and landlords who prioritize financial tracking over direct tenant interactions.

What If DIY Property Management Isn’t for You?

While self-managing rental properties saves money, it demands a considerable investment of time and effort. Responsibilities like tenant screening, legal compliance, and maintenance coordination can quickly become overwhelming.

When to Consider a Property Management Company

1. You own multiple properties and struggle with day-to-day tasks.

2. You live far from your rental properties and need local support.

3. You prefer a hands-off investment approach.

4. You struggle with handling tenant issues, legal matters, or maintenance requests.

Pros of Professional Property Management

Hiring a property management company can alleviate many burdens. The company will:

• Handle marketing, tenant screening, rent collection, maintenance, and evictions.

• Ensure compliance with local laws and regulations.

• Save you time while providing professional expertise.

Cons of Hiring a Property Management Company

However, there are downsides to consider:

• Fees typically range from 8%–12% of monthly rent.

• Less direct control over tenants and property decisions.

How to Choose a Property Management Company in Nashville

When selecting a property management company, consider the following:

• Look for local expertise and strong tenant placement strategies.

• Check Google reviews and referrals from other landlords.

• Ensure transparency in fees and contract terms.

Which Software (or Approach) is Right for You?

Choosing the right software or approach depends on individual circumstances. Consider the following:

• Choose TurboTenant if you need a simple, free solution for tenant screening and rent collection.

• Choose DoorLoop if you require a comprehensive, all-in-one platform for managing multiple properties.

• Choose Stessa if your focus is on tracking rental income, expenses, and investment performance.

• Consider a property management company if DIY is too time-consuming and you prefer a hands-off approach.

Wrapping Up: Top DIY Landlord Software in Nashville: TurboTenant Vs. DoorLoop Vs. Stessa

Ultimately, the best approach for Nashville landlords hinges on their property portfolio size, budget, and management style. Evaluating personal needs is crucial, and taking advantage of free trials or demos can lead to an informed decision.

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 Nashville 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.