Features in Quicken Rental Property Manager:
- Track rental income and property-related expenses per property and per unit,
- Track tenant information (name, address, unit number, lease information),
- Generate reports to track rental payments, late payments, and expenses, and
- Generate reports to analyze profit and loss per property, and an tax report that's designed to match Form 1040 Schedule E.
Quicken Rental Property Manager does not integrate with Intuit's Quicken or Quickbooks applications. However, the software does allow you to export data to the desktop version of TurboTax for quick tax preparation for do-it-yourself taxpayers.
Personal Observations when using Quicken Rental Property Manager:
- Basic tasks are easy to find and easy to use. Simply click the large "Enter Expense" or "Enter Rent" buttons to record these items.
- Reports are easy to find. Just click the "Reports" button and choose between an Income & Expense Report (P&L) or a Tax Report (formatted to look similar to a Schedule E).
- "Rent Center" provides a quick overview of tenant payments. By scanning the report, you can quickly see which tenants have paid and which haven't paid their rent for a particular month.
- You can track up to 100 properties in a single file. If you need to track additional buildings, you could create a new Quicken Rental Property Manager file.
- You can track up to 100 units per property. If a particular building has more than 100 units, you could create additional properties. For example, you could create one property for each floor.
- Lacks data entry for cost basis and depreciation on properties. When you add a new property, you type in the building's address. This becomes the name of the property in Quicken Rental Property Manager. There's no place, however, to store critical information about the cost of the property, loans against the property, or depreciation being claimed for tax purposes.