We reviewed 15 rental property management software companies to decide on the seven best for these common categories. Rental property management software offers various combinations of functions for landlords. So, not sure this is the option for you? Offering a one-stop-shop for landlords, TenantCloud has everything you need to get the job done. The software we recommended needed to have a good reputation for responsive customer service, integrations to expand and streamline the rental management process, and a comprehensive offering of features to accommodate efficient and affordable property management. Property management software helps landlords manage rental properties by doing things like collecting rent online, managing leases, coordinating maintenance requests, and marketing properties through integration with listing sites like Zillow and Realtor.com. Best For: DIY Landlords and Property Managers searching for screening, leasing, and rent collection assistance. However, keep in mind that software built for thousands of units may not have the same features as one geared towards smaller operations. With over $140 million in revenue in 2017 and an additional $60 million of investment in 2019, AppFolio is confirmed to keep developing and growing in the future. At the Premium level, you can manage your maintenance projects and add portals for your vendors. That said, they seamlessly integrate every facet of a rental business to provide owners with end-to-end functionality. SimplifyEm is a property management software for landlords, property managers, and real estate investors. Each of the features is designed for the specific property type you’re using, so AppFolio has everything a landlord would need—accounting software, rent collection features, maintenance requests, marketing tools for multiple platforms, utility billing, and customizable online leases. Buildium ranked best overall because its features are robust, its platform can scale with your portfolio’s growth, and at just $50 per month to manage up to 150 units, it’s a low-cost solution when you are starting out. That said, whatever you decide, the software must accommodate the needs of your portfolio. Additionally, MRI includes increased visibility and efficiency thanks to role-based dashboards for owners, property managers, and leasing agents! So, before you decide which is the best property management software for you, check out this list of common rental software features. MRI Software wins our top recommendation for managing commercial properties like apartment communities with features not found in competitors’ programs like investment management, strategic planning & analysis, lease abstraction, space management, and affordable and public housing compliance. Pendo is a free property management solution. MRI rental property management software was a 2020 recipient of the Business Partners Council Partnership Award by the National Association of Housing and Redevelopment Officials. Also, landlords can take advantage of the many synchronized services such as QuickBooks, TransUnion, Assurant Rental Insurance, and RentRange to maximize their business efficiency. Options are both a blessing and a curse. With almost 15 years of experience and clients across the U.S. and Canada, SimplifyEm has been used to manage over $42​ billion in property assets and has been verified by Authorize.net and GeoTrust, with high ratings from Software Advice and Capterra. Which Rental Property Management Software is Best for You? Different companies create software with specialized features that work best for certain categories of landlords, property types, and portfolio sizes. The price starts at $20 per month for 10 units and increases by $10 for every 10 units after that. We reviewed 15 property management software companies to find the ones that will serve you best based on your portfolio size, building and tenant type, and budget. Among its features, Buildium also has a specialized tenant portal that allows property managers to receive online payments automatically. Therefore, only you can decide what combination of services best fits your business needs, and making an informed decision is crucial to success. Avail offers a variety of tools and reports to help property managers screen tenants, … "Property Management Industry Statistics." Integrations for efficiency include Mail Merge and DocuSign, but aside from those, Propertyware has chosen an in-house approach for marketing, lead generation, and tenant screening rather than integrate with third-party software. – A Landlord’s Guide to Avoiding Illegal Eviction, Property Management in Anne Arundel County, MD. If you want to have access to advanced features that facilitate the usage of your cloud-based property management software, Yardi Breeze is the right choice for you. So, this is a great way to streamline processes, offer added conveniences, and free up valuable time. A residential landlord would simply leave too many features paid for but unused. You can create a free 15-day trial account without needing to enter a credit card. Propertyware is a Texas-born company founded in 1998 that currently serves more than 12,000 clients from North America, Europe, and Asia. By using Investopedia, you accept our, Investopedia requires writers to use primary sources to support their work. In other words, landlords can rent units faster by using this software to create custom listing pages. That said, how many units you manage does matter when selecting which application to use. Therefore, carefully consider how much you can afford to spend. There is no free trial, and to get a quote you must get on the phone with them so they can interview you to uncover exactly how you want to use the software. To help users find their way through it easier, Buildium has a ticket-based customer support system, although there were some complaints about the slow responses clients received from it. SimplifyEm is designed to give a simple and easy way for landlords to manage their properties while also saving time and money. So, continue reading as we help you narrow down the industry’s best property management software below. Furthermore, it is essential to thoroughly research each option before making a final decision to ensure it is a good fit for your business. So, including many of the services other options have, SimplifyEM takes it one step further with one-click tax preparation. All members of Propertyware's management team have over 20 years of experience working in real estate, which means users get software designed by people who understand the industry and how it works. Investopedia uses cookies to provide you with a great user experience. Undeniably, it’s the total package. The idea began between 2002 and 2003 when Michael Monteiro & Dimitris Georgakopoulos started their rental property business and realized they needed software that will help them manage their properties easier. The Plus plan adds conveniences like two-way text messaging, eSignatures, and inspections. While SimplifyEm supports any number of units from one to 2,000, it’s the best fit for a few properties, because you can keep your costs as low as $20 per month if you’re starting out with fewer than 10 properties. However, while having a variety of customizable rental property software choices available is great, too many options can prove overwhelming. Free Trial - No Card Required These programs can be useful to a DIY investor, as well as to a team of users made up of owner, property manager, facility maintenance, and leasing agent, to name a few. Pricing is based on the number of units you manage and starts at $50 per month for up to 150 units. Pricing: FREE – with Customizable Features Starting at only $5/Month per Unit. Because it doesn’t have tiered pricing, but rather an onboarding fee and then a monthly fee based on the number of units, AppFolio is best for those that have multiple properties. Also, premium software will likely have added features at a higher cost while more basic options still do the job, but for a fraction of the cost. Who Should Use Rental Property Management Software? User Rating: 4.5 out of 5 Stars. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Designed with single family home landlords in mind, Propertyware has earned its place as our best rental property management software for single family homes. It does not require a dedicated professional to manage this platform. Collect recurring payments and late fees, print or email … RentManager property management software is a one-stop solution software for all your property related work. Quick to set up, cost effective, and simpler than spreadsheets and other financial software, SimplifyEm provides the tools to easily track rental income and expenses, monitor tenant balances, send notices and general statements. Say goodbye to Excel and put your property management business on cruise control! Additionally, landlords should not overextend themselves but consider the time savings that these software services provide when evaluating budget. The company’s strong reputation has earned them three rounds of venture capital investment from four different firms, totaling $10 million. Property management software … While there isn’t a minimum or a maximum number of units it supports, you have to spend $100 per month at a minimum if you have residential properties and $200 for commercial properties with the basic package. That said, our all-in-one owner portal provides real-time updates on financials while your dedicated property manager answers any questions you may have. Most property management software programs charge between $1 and $2 per unit under management. The features include built-in accounting software, online rent collection, rental applications, templates and addendums, maintenance requests, automated marketing, activity calendars with tasks, renters insurance, tenant communication options, workflow sheets, and outsource payments. on Which Rental Property Management Software is Best for You? Therefore, whether it is screening and application fees, or a charge for some online payment types, these fees could add up for residents. SimplifyEm does just that, simplify! Additionally, this rental property management software prides itself on enabling landlords to receive mobile-submitted rent, list properties to Realtor.Com and Doorsteps, send in-app notifications, screen tenants with prequalification, applications, and TransUnion-certified background checks. Good property management software can help you attract, screen, and manage tenants, respond to their maintenance requests, and account for all of the expenses and revenue that entails. Best For: Small to Large Residential Portfolio Managers. So, give us a call today for a free no-obligation rental evaluation to learn what Bay Property Management Group can do for you. AppFolio, popular among landlords with large rental portfolios, offers the best advanced features to control your units remotely, and additional support and resources to grow your business and maximize its efficiency. Pricing: Monthly Subscription $1.00 to $2.00 per Unit plus Implementation Fee and Monthly Minimums, Best For: Property Management Companies Specializing in Single-Family Property. Additionally, the convenient owner dashboard keeps your business at your fingertips anytime, anywhere, and across all devices. SimplifyEm is a property management software for landlords, property managers, and real estate investors. Their property management software was the first product they developed, so it’s what they take the most pride in and continuously develop. Screen tenants, market your vacancies, and lease legally and securely for free. That said, it does a great job covering every aspect a landlord could need. Buildium is property management software designed to support the larger DIY landlord and property managers. Buildium, our overall best, is a comprehensive software that allows rental managers to control everything from online rent payments, vacancy management, maintenance cycles, and accounting. It delivers the standards of excellence and sophistication our clients want. By integrating with Craigslist, Facebook, Realtor.com, Rent.com, Apartments.com, and other rental listing sites, landlords can advertise a vacant property with a single click across multiple platforms. The property management industry in America generates roughly $88 billion in revenue annually. With that much money circulating from real estate rentals, it’s no wonder many software companies have emerged to help investors, landlords, and property managers stay organized, not only for daily tenant communication and management but also to be ready for tax time. Rental property management software solutions offer many features but focus more predominately only on some functions. TurboTenant’s pricing model puts all of its costs on the tenants, making it the best free option for landlords. Customers can take this rental property management software for a free 14-day test drive! If you have more than 2,000 units, the platform can’t grow with your portfolio. Also, in addition to standard services such as marketing, online rent collection, and screening, TurboTenant makes communication a breeze. Founded in 1971 and based in Cleveland, Ohio, MRI Software started by providing property management services and has expanded to cloud-based software and an app. However, unlike some of the other options, Propertyware is specially designed for single-family property management. After all, your time is valuable! Rest assured that our in-house leasing and maintenance staff are looking out for you and your property’s best interest. It allows users to track income and expenses, collect rent and tenant applications online, screen tenants, generate and analyze owner reports, track maintenance requests, store documents, and automate repetitive tasks. Yardi Breeze opened in 1984 to provide small and mid-size landlords a solution to streamline their processes. Rentman is a property software hub that brings together your lettings, sales, property management and client accounting. Works for residential properties, but not a good fit, Can get expensive if you have multiple users, and you need to contact the company to get a price quote. To set up an AppFolio account, you would need to pay a $400 onboarding fee, after which the cost of each property is as follows: AppFolio supports multiple property types, including residential properties, commercial buildings, student housing, and community associations. Independent property owners should find this accessible regardless of their experience. Easily manage tenants & properties, track rent due, print invoices and rent roll, collect payments and store all your data in one comprehensive, easy to use package. While TurboTenant is free for landlords, tenants pay a fee of $35 to $45 for application and screening, a credit card rent payment fee of 3.49%, and an optional renters insurance monthly fee starting as low as $8. These are the questions we’ve tried to clear up for you in our analysis. We also preferred programs that earned high ratings and testimonials for their ease of use and setup. You can learn more about the standards we follow in producing accurate, unbiased content in our, The 7 Best Rental Property Management Software of 2021, Best for Single Family Homes: Propertyware, Best for Commercial Property: MRI Software, Frequently Asked Questions (FAQs): Rental Property Management Software. MRI Software supports both commercial and residential properties, but because of the design of its features, it’s better suited for the commercial sector. We also reference original research from other reputable publishers where appropriate. Accessed November 29, 2020. All packages include email and phone support, income and expense tracking, tenant and lease management reporting, and renters insurance. Free regardless of the number of units managed, 24/7 customer support through phone and online. They’ve had over 17,000 clients from over 170 countries and more than 140 partners supporting them, a testament to the reliability and quality they provide. Put your property management software solutions offer many features paid for but unused questions you have! Cozy jumpstarts our list as a popular free property management process for property managers property... 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