Gone are the days when we ran businesses with ledger books, calculators, a Rolodex and file cabinets. Today businesses are run electronically. Not only has this made businesses, including property management businesses, more efficient, but it helps to provide better service to their customers and clients.
Property management software is more than just a property management accounting program, it is a fully-functional, cross-platform, integrated property management software suite that can take a property management business to the next level in service and performance.
In this article, we are going to analyze and review some of the best property management software programs on the market. But first, let’s look at a list of the main features offered by leading property management software companies. You may be surprised on the integration that is offered by these cost effective property management apps.
All major property management app providers will have the same basic features including full property management bookkeeping capabilities, a tenant and owner database and comprehensive reporting. Besides that, there are other very useful features that you may want to make sure your property management software includes, such as:
Over the last 10 years, owner and tenant portals have been integrated into the traditional stand-alone software suite. This has moved software systems into the internet as a cloud-based service. This upgrade has revolutionized the property management industry.
Tenants can now make rent payments online. They can submit maintenance requests and view available rentals. Owners can instantly check on the status of their property, download financial reports, and deposit their net operating income checks. This has streamlined the processes for property management companies and it has now become the standard of client care.
Now that you have your wish list, how about we take a look at what is the best property management software for both small and large companies!
AppFolio is a comprehensive cloud-based property management software suite that handles accounting, leasing, and marketing. A neat feature of this software is that it links with the manager’s website allowing potential tenants to download a vacancy posting package, fill out an online application and run background checks.
AppFolio is easy to use right from the start. It can handle both residential and commercial units with ease. The program has an online tenant portal that allows tenants to make online rent payments as well. Inspectors and contractors can link photos and verbal notes allowing almost paperless management.
AppFolio is one of the few property management software products that is mobile responsive and works great on mobile devices. As a property manager, you have access to all your property management essentials when you aren’t in the office, which is a really nice feature. While Buildium is cheaper to use when managing less than 200 units, larger-scale property management companies will find AppFolio a better deal and just as easy to use.
AppFolio is one of our favorites on the list, as it is good for large and small property management companies and allows for you to scale as your company gets bigger.
Rating: ★★★★★ Price: $ $ $ $ $
$1.25 per unit, monthly minimum $250
Integrated Company Website
Integrated Tenant Screening
Automated Lease Agreements
Online Payment System
Paperless Work Order System
Over 10,000 customers use Buildium’s all-in-one web-based property management software designed for residential and homeowner associations. Applicants can fill out an online application and automated tenant screening services are available. The “Upcoming Tasks” list gathers maintenance items, tenant requests, to-do lists and other tasks and funnels it all into one place helping to cut down on the mental clutter.
Buildium is easy to use and easy to set up. It is also a cost effective option if managing less than 200 units.
Rating: ★★★★✩ Price: $ $ $ $ $ Tiered Pricing
Starts at $45 per month for 20 units.
Automated Rent and Late Fee Reminders
Online Payment System
Syndicated vacancies with sites such as Zillow, Trulia, and Craigslist
Integrated Tenant Screening
Tenant and Owner Portals
Online Maintenance Requests
24/7 Customer Support
Tenant Cloud is an ideal software solution if you are managing only a few dozen units. Tenant Cloud is a free online property management software solution, assuming you don’t go over the free account limit of 75 units.
Just because it is free doesn’t mean that you are getting less. This is a top-rated, full-service, cloud-based software set. Rental applications can be processed online as are maintenance requests and service reminders. The accounting features are cash based with a few types of standard reports.
Rating: ★★★★✩ Price: $ $ $ $ $ Tiered Pricing
Free up to 75 units
Online Payment System
Integrated Tenant Screening
Integrated Company Website
Automated Rent and Late Fee Reminders
Automated Lease Agreements
Online Maintenance Requests
Syndicated vacancies with sites such as Zillow, Trulia, and Hotpads
Property Management Software for Medium to Large Companies
Rent Manager offers a fully-functional remote desktop based software suite for both residential and commercial property managers. If customization of your property management software is important to you, then Rent Manager is your top pick – if you are willing to take on the learning curve. You can choose from the online and stand-alone version. They offer mobile capabilities and task automation.
Rating: ★★★★✩ Price: $ $ $ $ $
$75 per month.
Online Payment System
Paperless Work Order System
Integrated Tenant Screening
Tenant and Owner Portals
Rentec Direct is a web-based management system that can handle up to 5,000 units. The accounting module can synchronize with Quickbooks. If security is a concern, then Rentec has you covered with bank-grade security including two-factor authentication, third party security verification, and real-time secure data backup.
Rating: ★★★★✩ Price: $ $ $ $ $ Tier-Based Pricing
Starts at $35/month for up to 10 units.
Online Payment System
Integrated Company Website
Unlimited US-based Customer Service and Training
Tenant and Owner Portals
Integrated Tenant Screening
Syndicated vacancies with sites such as Zillow, Trulia, and Craigslist
While most of these companies will offer similar services, the layout, design, and function are something that you will want to test for yourself to see which one works best with your company’s needs. If the software is cloud-based, often they will allow users a free trial to give the software a test. This will help you to see which one will be the best property management software program for your company.