Tellus

“full of payment issues

Pros

The one upside was that it didn't cost anything but that pretty much matched the overall quality.

Cons

I ended up leaving it because the payment problems were too serious to ignore and made me question where the money was actually being held and whether it was secure. Some tenants were charged twice without approval, other payments failed with no notice to the tenant or to me and even when a tenant did submit a payment, it could sit stuck in processing for more than 14 days until I reached out to support. On top of that, the fact that Tellus had no web-based login made it inaccessible for certain tenants.

“Payment failures and weak support

Pros

I don't have anything positive to mention here except that it's a free property management software.

Cons

While using it, we ran into several payment problems that created both financial and legal concerns. There were unauthorized double withdrawals from my tenants, delayed payment remittances and a lack of proper detection or communication around payment issues. Support was also very limited, responses were slow, often not very helpful and only available through the app, with no phone or email option. Those problems were the reason we eventually moved to a different platform. On a smaller note, it could only be accessed through the app and not from a web browser or any other method.

“Offers high APR

Pros

Compared with other online banking options, this one offers the highest APR I've seen. They use real estate to make that possible which means returns can be up to 17x higher than what traditional savings accounts usually offer. On top of that, it's completely free which makes it even more appealing.

Cons

There are a few restrictions around the minimum balance and how APR is earned but the threshold is still low when you compare it with traditional bank savings accounts. Aside from that, everything else is pretty simple.