For the non -local I get a statement sent to me which essentially contains all the information i keep in my spreadsheet for the 2 local IP's – but costs me $80+ in management fees each month…if you have the time to manage the properties – I say more power to you! Just know your rights (or lack of) and do your research. I also record all expenses in the same spreadsheet – makes it very straight forward at tax time. FREE Property Management Software Download available. Perform investment and cash-flow analysis calculations to see how effective each property is. Track your depreciation expenses every year, and also for future years.

Both rent's come in fortnightly for a fixed amount – so I use the one account and simply check via online banking that the payment has gone in each fortnight. Keep track of your mortgages so you know how much you have paid, and how much you still owe. To keep track of the rent and expenses – I simply use an excel spreadsheet. I currently manage my two local IP's and have a property manager manage my other non-local IP. Always screen your tenants carefully and keep records of all conversations/correspondence. You also need to be well read in terms of the Tenancy ACT and relevant policies in your state.

InvestSMART - suburb snapshot This site will give you a quick snapshot of the suburb you are searching, including rental yield growth, demographics. Hi There, This post may be moved to any of the other areas once the adminstrator gets hold of it, but my question may be relevant to a few areas Of the ever increasing market of Investor (property) software out there, can anyone recommend one I have played with a few sample downloads. Mind, there is a lot of work involved if things go wrong. Its been a while, so I thought I would add in the free tools again, feel free to add to this list: 1. If you live in the area and do your research, property management isn't too difficult.

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