What is TenantCloud?
TenantCloud was founded in 2014 in Austin, Texas by Joe Edgar to develop real estate software for landlords.
The company is currently headquartered in Austin, Texas with offices in Salt Lake City, Ukraine, and Chicago.
The main user base is in the U.S., followed by Canada, U.K. Australia, South Africa, Ethiopia, India, and Southeast Asia (we are used actively in 60 countries).
List of TenantCloud Features
TenantCloud offers a wide array of features for landlords and tenants to use:
- Credit Checks
- Background Checks
- Rental Applications
- Leases (fully editable templates with e-signing built into the system)
- Property Listings (syndicates with Zillow, Trulia, Apartments.com and KW.com)
- Payment Processing (Credit Cards with Stripe, ACH with Dwolla or PayPal)
- Renter’s Insurance
- Messaging Platform
- Accounting and Financial Reporting
- Property Move-In and Move-Out Images
- Manage Maintenance Requests
Most aspects of the software are fully manageable from the TenantCloud mobile app as well (available on both Android and iOS).
Is TenantCloud Really Free?
All the standard features from TenantCloud are available to use for free. However, there are some incidental costs that come into play for certain features.
For instance, when landlords utilize the free version of the service, there is a small portion of each monthly rent payment that is deducted when payments are processed through Paypal and Stripe (TenantCloud does not make money from these fees).
There is a paid subscription available for $9/mo, which eliminates all transaction fees for rent collection.
There is also a cost incurred when a credit check or background check is run on a prospective tenant. However, the cost of these reports is paid for by the tenant, not the landlord.
Third Party Services
TenantCloud provides its users with several 3rd party services. TenantCloud are currently (April 2020) partners with:
- Assurant – Insurance
- Dwolla – ACH Payments
- PayPal – Online Payments
- Stripe – Online Payments
- TransUnion – Tenant Screening
- QuickBooks Online – Bookkeeping/Records
- Apartments.com – Listings
- Oodle – Listings
- Zillow Group (Trulia, HotPads, StreetEasy) – Listings
- RentRange – Property Marketing Report
- MovingCompanies – Moving company for tenants
TenantCloud does monetize some of these partnerships, which is part of how the company is able to offer all the features it does at no cost to the end-user.
There are several competing property management software options on the market (such as Cozy, Avail, and Buildium, to name just a few). TenantCloud is unique in that it offers what is arguably the most versatile package of features that appeals to the widest demographic of users.
Other software options may specialize in a few of the features that TenantCloud offers (e.g. – credit checks and online payment collection are the two most common features found on other websites) and/or are focused on a narrower demographic of users (landlords with fewer than 10 units).
Accounting integration, a mobile app and an integrated messaging platform are all far less common to find among other property management solutions (including the ones that charge a much higher monthly fee).