Property management software is a new way of running a real estate firm because it saves you time and effort. Multiple responsibilities, such as facilities management, accounting, leasing functions, and tenant administration, are automated. Even some software allows landlords and tenants to communicate effectively.
Yes, it cuts down on manual labour and on-site obligations. In short, whether you run a real estate company or have a lot of properties, property management software is something you should think about.
If you’re looking for property management software reviews, this post is a good place to start because we’ve included a list of 10 solutions with extensive reviews. So, let’s get started.
- 1 Best Property Management Software
- 1.1 #1. Buildium Property Management Software
- 1.2 #2. TenantCloud Property Management Software
- 1.3 #3. Avail Property Management Software
- 1.4 #4. AppFolio Property Management Software
- 1.5 #5. Propertyware Rental Property Management Software
- 1.6 #6. TurboTenant Property Management Software
- 1.7 #7. Syncbnb Property Management Software
- 2 Things To Consider In Best Property Management Software
Best Property Management Software
There is a lot of property management software out there, but not all of it will meet your needs. If you’re a landlord or run a property management company with multiple locations or cities, you’ll have a lot of possibilities.
However, selecting one that meets your needs is a time-consuming and difficult endeavour. And, to make things easier, I’ve done some research and whittled down the options to the best 7 property management software options.
#1. Buildium Property Management Software
Propertyware is comparable to Buildium. Both are owned by RealPage, the same parent business. PG, residential, affordable housing, commercial, and other property kinds are supported.
It is best suited for businesses because it was created specifically for property management agencies. It is also perfect for landlords that manage a large number of properties. Buildium has a lot of features; you name it, and they probably have it. It has everything you might possibly need, from property leasing to accountancy.
It offers a 15-day free trial, after which the price is determined by the number of properties you own. The reasoning behind Buildium’s prices is that the greater the number of properties, the lower the cost. You can also acquire a quote from the website.
Simply enter the total number of properties to get an estimate of the cost. If you are billed annually, for example, you will receive a 10% discount on the total. The fundamental idea, however, is for up to 150 units. The major players, on the other hand, use these systems to manage hundreds of thousands of units.
This tool is not intended for part-time property managers or landlords with a small number of properties. For property management companies, it is the primary choice.
Notable features of Buildium Property Management Software
- Supports multiple properties
- Offer a great set of features
- 10% off annual billing
- 15-days of a free trial
#2. TenantCloud Property Management Software
Tenant cloud can be the moniker that works for you if you are a landlord that oversees your properties. This name is suitable for small solitary landlords that wish to run a building or have a large number of properties but don’t want to outsource work to a third party.
PayPal, ACH transfer, credit cards, and debit cards are all options for online payment. All receipts are saved in the built-in accounting system, and all financial reports are shared.
Starting with online rental applications and ending with online payment, Tenant Cloud has it all. It comes with self-managed tenant screening and maintenance tools. All of your contacts may be simply managed in one spot. Inside the tool, you’ll find e-sign, notices, and rental agreements.
You may run reports on demand, track renters insurance, generate renter leads, and manage your team with numerous tools. You can manage 75 units for free with the free plan. However, the capabilities are rather simple, and additional functionality such as auto pay, QuickBooks connectivity, Google integration, and so on are not available.
You must upgrade from the free plan to the standard plan, which costs $9 per month, if you want to use services like e-sign and auto-pay. An advanced plan, which costs $35 per month and includes all advanced features, is also available. You can use team tools and create up to 10 admin accounts with the advanced plan.
You can save 20% if you pay on an annual basis. Additionally, if you are unsure whether you want to invest in it or not, you can contact the sales staff and request a demo.
Notable features of TenantCloud Property Management Software
- Free for 75 units
- Paid plans start at a low price
- Customization option available
- Online payment
#3. Avail Property Management Software
If you’re looking for the best property management software, Avail is the way to go. Landlords may quickly identify and screen tenants, as well as sign leases, using this application. You can also use this tool to collect rent. It includes all of the functionality necessary for each stage of the leasing process.
There is also a customising option. You can create custom solutions based on your requirements. When you list your home for rent, Avail promotes it over the web. It implies you’ll be able to discover tenants fast and easily.
You can conduct background checks, eviction histories, credit reports, and much more after submitting a few applications. An automatic rent deposit, maintenance tracking, and digital leasing are all advantages.
This programme is completely free. You don’t have to pay anything to use it, but I prefer the paid version. It is inexpensive at $5 per month per unit. It is suitable for individual landlords or operating as a part-time property manager due to the per-unit pricing.
Premium features such as bespoke applications, custom leases, fee-free ACH transfers, and next-day rent payments are available in the paid version. It was trusted by over 1,50,000 landlords. Yes, as compared to other software on the market, it is not feature-rich software. The reason for this is that DIY landlords prefer it to property management corporations.
Notable features of Avail Property Management Software
- A free tool with primary features
- No unit limitation in the free plan
- Plans start at $5 only
- Highly trusted tool by an individual landlord
- Automatic deposit and digital lease
#4. AppFolio Property Management Software
AppFolio is one such piece of software that caters to both property managers and landlords. It is most effective if you have a large property portfolio. It supports student housing/PG, residential properties, community associations, and commercial structures, among other things.
It includes all of the functionality you need, including accounting, leasing, reporting, and maintenance. Each property kind, on the other hand, has something special to offer. Student housing, for example, requires tenant ledgers and different leases for each bed, whereas single-family homes have an online lease and rent payment option.
Even community associations, or HOAs, have default settings for automatic payment due and board member administration. It costs $1.25 per unit per month for residential property. It costs $1.50 per unit/month for commercial property. It charges $1.25 per unit/month for student housing. It also costs $0.80 per unit/month for HOAs.
The main disadvantage is that it has a $250 minimum monthly charge. This is why large corporations rather than individual landlords utilise property management software.
AppFolio is not worth the money for me because I just have a few properties and a couple of rental apartments. If you are considering investing in it, you can request a demo from the team.
Notable features of Appfolio Property Management Software
- Support multiple properties
- Online rent collection
- Charges according to property type
- All-in-one landlord software
#5. Propertyware Rental Property Management Software
Propertyware is another company that charges a monthly fee of $250. However, it differs from AppFolio in that it is just for single-family dwellings. If you need to handle a big number of rental units, this is a great solution.
Propertyware is included in our reviews of property management software because it provides a cost-effective way to list hundreds or thousands of single-family homes. It’s an excellent resource for property managers.
Many case studies of property managers that started with 400 units and grew to 2500 units in just 2-3 years can be found. Both owners and tenants have access to accounting, maintenance, and internet portals.
Propertyware also has a number of different payment alternatives. They’ve also done an excellent job with marketing and job postings. To list a property, there is a $250 minimum monthly fee plus $1/month/unit with basic features. You must pay $350/month & $400/month for additional features, plus listing fees of $1.5/unit/month & $2/unit/month, respectively.
Leasing contact centre, maintenance contact centre, and professional listing website are examples of add-on features. This name is well worth the money if you manage hundreds of units. For single-family properties, you may simply expand units from hundreds to thousands.
Notable features of Propertyware Property Management Software
- Starting price from $1/unit/month
- Owner and tenant portal
- Easy to use and scale
- Flexible payment option
#6. TurboTenant Property Management Software
TurboTenant is a fantastic option for landlords who don’t want to pay a third party to manage their properties. Furthermore, it is an excellent option for DIY landlords who want to update their listings and work with less difficulty.
Landlords choose TurboTenant because it is free. To put it another way, it is true landlord software. The cost, however, is passed on to the tenants. To rent your apartments faster, you may easily establish specialised pages for your property.
Individual or bulk messages can be sent, and communication is simplified by using a single inbox. Everything from application administration to tenant screening is done online. An online signature, rent estimator reports, and state-specific lease agreements are among the extra features.
As previously stated, landlords can use this facility for free, but tenants must spend $35-$45 to apply. The cost varies depending on the report you wish to view. Yes, it has some limitations, such as no online money collecting option. However, getting your vacancies filled and tenants screened is free.
Notable features of TurboTenant Property Management Software
- Free listing of properties
- Free for landlords
- The easy tenant screening process
- Tenant communication in bulk
#7. Syncbnb Property Management Software
Syncbnb is the name to remember if you’re a landlord or property manager wishing to handle short-term vacation rentals. This product is more particularly a platform that syncs your listing calendars across different sites, rather than an all-in-one property management programme.
This programme syncs your calendar in real time to prevent double bookings. In other words, it ensures that there are no double bookings. How? When someone books your vacation unit on one site, such as X, it will be blocked on other sites, such as Y and Z. And it works with over 200 different booking sources.
You can manage many listings using this tool from a single location. All of your short-term rental properties may be simply organised. Monthly rates per unit are $19, but if you sign up for a year, it will be $15. You can use it for free for the first 30 days because it comes with a free trial.
Yes, this is not a complete property management software because it does not allow you to collect payments online or manage reservations. If you have a lot of properties to manage and don’t want to fall victim to double booking, you can use Syncbnb.
Notable features of Syncbnb Property Management Software
- Sync calendars for multiple sites
- Eliminate double bookings
- Free trial of 30-days
- Sync with 200+ sites
Things To Consider In Best Property Management Software
Choosing the right property management software for your needs might be difficult at times. After all, you’re either running a full-service firm or managing your real estate. Finally, just because something works for someone else does not guarantee it will work for you. That is why you must consider a few factors before selecting a property management software.
1. Property Type
There are several different types of properties. Single-family residences, multi-family homes, student housing, commercial properties, industrial properties, community associations, and residential properties are among them.
So the first thing you should consider is the type of property you manage or own. Some are appropriate for short-term rentals or single-family homes, while others are appropriate for major property management firms.
As a result, make sure you select software that is appropriate for your sort of lodging or property.
2. Number of Units
Another consideration is the number of units you own or manage. This answer will have a big impact on the property management software you choose. Why? Because someone in charge of 3500 units has different needs than someone in charge of 5 units.
Scaling has a significant impact on needs. A property management solution that manages hundreds to thousands of units, for example, costs a little extra and includes premium capabilities that aren’t included in the basic names. And such things aren’t necessary for someone who only manages a few units.
3. Features of Software
Each property management software has its own set of capabilities, and no single software can provide all of them. In addition, elements are excluded or included according to the plan. So you’ll have to upgrade your plan to get some special features. However, there are several common aspects in property management software:
- Application management
- Property listing tools
- Tenant screening
- Online rent collection
- Leasing and e-sign
- Maintenance management
- Accounting tools
- Tenant and owner portals
If you need to use all these features and others, get ready to pay a few extra bucks. Also, choose the plans which have features you are going to or planning to use.
4. Landlord or Property Management Companies:
The majority of property management software is created with the user in mind. As a result, property management software is useless for DIY landlords. The reason for this is obvious. Landlords’ needs are not met by property managers or property management businesses.
Property management companies with several teams are common. They require proper communication, and as a result, they require software that meets all of these requirements. Furthermore, software must cater to the requirements of both tenants and property owners. The majority of these technologies are built to scale in the future.
When a landlord wants to handle his properties on his own, he should opt for software that is developed for smaller properties.
The cost of property management software is an important consideration, but it can vary depending on a variety of factors. Plans are often priced per unit each month. And the rates vary depending on the plan’s characteristics. You would save money if you billed annually.
Some charge $0.80 per unit, while others charge $2. Lower expenses must meet certain minimal requirements, such as $250 monthly fees. There are paid add-ons available. Credit reports, background checks, e-signatures, and other services are available. To access such a premium service, you must pay a small fee.
It’s all about software for property management. The best property management software is totally determined by your requirements. Seven different names have been offered. Each is distinct from the others, as you can see. Some are better for managing all types of properties, while others are better for certain types.
You will find something for yourself whether you are a landlord or a property manager. Simply consider all of your requirements and choose the one that best suits you. What are your thoughts?