Building #1 Residential Property Management App on AppExchange

The app is ideal for DIY small and medium sized real estate investors

My 1st house in USA

In the first half of 2016 two momentous events in my life happened. I bought my first home in April 2016. In May 2016 I first logged into Salesforce. Getting keys to my 1st house and subletting a spare bedroom was my first taste of being a landlord. Also, creating the first custom object and field in Salesforce made me feel like an IT professional. Each event opened the doors to the magical kingdoms of real estate and Salesforce.

My 1st two tenants, whom I sublet my spare 2 bedrooms

I struggled most in learning Salesforce because I did not know anything about IT and programming. My Bachelors and Masters degrees were in accounting and finance while professional experience was in economic research. To 10x my learning I started using Salesforce to store my two tenants (in picture above) information living with me at my my house. I loved that experience so I started recording everything possible in Salesforce.

Here are some of the objects, fields and automations I created:

• To record the HOME I bought I used the Account object

  • Created custom fields to store mortgage terms, interest rate, mortgage payment website, HOA $, HOA name…

• To record APPLIANCES (i.e. dishwasher) I bought for my house I used Asset object with lookup to Account

• To record TENANTS I used Contact object, which already has a lookup to Account

  • Created custom fields to record annual salary, employer, move-in date and deposit amount

• To record tenant’s COMPLAINTS I used the Case object

• Automations:

  • I calculated rent collected per property by rolling up the tenant’s rent amounts

  • I tracked monthly utility expenses on a custom object (Utilities__c). A flow calculated the average of the monthly utilities expenses.

  • A formula field on the Property calculated the monthly profit

I loved the process of tracking real estate information in Salesforce because I was putting to practical use what I was learning about Salesforce from Udemy and Trailhead. Adrenaline would rush through my veins with each automation I built out and my motivation would increase as I started to see how Salesforce has real life application. Fireworks exploded in my brain when I created a report for a dashboard and saw how my home equity grow!

As I bought more properties over the years I added more automations, reports and custom fields. I would log into Salesforce daily to track my equity growth and see whose rent is due today. Salesforce became integral for managing my properties and tenants. Without Salesforce I could not have expanded my real estate portfolio because I would lose track of basic things like:

• when do tenants need to pay rent by (due date)

• how much deposit did a tenant give

• when did the tenant move in

• what is the Geek Squad protection plan on the washing machine

So since 2016 I have been building the Property Management app in my personal developer org. It feels crazy to know that it has been over 8 years now. For the past year I have been working on making my app available for other small and medium real estate investors. Are you a real estate investor? Do you want to try out the app?

The app is created for small and medium real estate investors

by small and medium real estate investors

• Target Audience: small and medium real estate investors in USA

• Goal: facilitate DIY property management

I have been particularly focused on developing features that would tackle key problems for small time investors like myself. Here are the key problems that the app would resolve:

1. automatically collecting rent rent

   1. no need to remind tenant that is rent due

   2. rent collection should be as seamless and light as Netflix collecting its monthly payment

2. charging a late fee if a tenant is late

   1. tenants occasionally pay rent late because they give excuses and never pay late fee. They need to pay late fee

3. systematically accepting cases through tenant portal

   1. it is easy for tenant’s issues to get lost in SMS or WhatsApp messages

   2. we need a dedicated channel for just tenant complaints and issues for routing and prioritization purposes

I named the app RentersNation because real estate is becoming increasingly unaffordable in USA and increasingly USA is turning into a nation of renters. I want the app to this growing trend and here are 3 key features of RentersNation that will help us win clients:

1. Recurring Rent collection

   1. Tenants can pay via ACH (bank transfer), debit card or credit card

   2. Our payment processor is Stripe (see image below)

   3. Every month on a set date, say the 1st, rent is automatically deducted

2. Late Fees

   1. If rent is due on the 1st of every month landlord can define a grace period after which payments are defined late

   2. If rent is late a late fee is charged to the tenant and both tenant and landlord are notified that rent is late

3. Tenant support

   1. Tenants can submit their cases via email and logging into a portal

   2. The case is routed to the right specialist depending on the topic: i.e. plumbing issues to the plumber, appliance issues to the BestBuy account manager

   3. In the portal tenants can track the progress of the case resolution

On this Stripe page a tenant can pay rent using ACH (bank account)

Are you a real estate investor? Would you like to try out the app?

• Here is the install link for you for FREE

• Support: info@rentersnation.biz

• Website: https://www.rentersnation.biz/

These are our upcoming features for 2024:

1. Credit Boost

   1. Experian is the largest credit reporting agency in USA

   2. It has data on 235 million people in USA

   3. Every time a tenant pays rent on time Experian will be notified so that the tenants credit score improves

   4. If a tenant is late on rent Experian will also be notified and this will hurt his/her credit score

2. Automatic annual rent increase

   1. Landlord can enable automatic annual rent increase

   2. Automatic 3% annual increase on a monthly rent of $10,000 is $3,000 in first year. The compounding gain over 10 years is $216,935!

3. Property Management Firm’s website

   1. For many smaller property management firms it is difficult to maintain a stylish and state of the art website

   2. We will develop an awesome, modern website that make even a small property management firm seem BIG and like they have a full time IT team

4. E-Signing

   1. The lease will be auto-filled based on the property and lease information in Salesforce

   2. A link will be sent to the tenant to sign to formalize the tenant:landlord relationship

As you can see a real estate property management that I started in 2016 is rapidly maturing. Over these 8 years I have tested the features and crystalized my vision for an ideal app. Now the app is ready to help others gain financial independence and grow their passive income by effectively managing their rental portfolio. Are you ready to effectively 10x your rental portfolio?

the core team behind RentersNation, #1 Salesforce Property Management App