Juggling a fruit salad is similar to managing a portfolio of rental properties since there is always too much going on at once and everything needs to be done at once. This is where the guide and rental property management software comes in.
You might be any of the following:
- Rent collection from a number of renters
- the management of several new repair requests
- paying former suppliers’ invoices
- evaluating a number of candidates
- finished some applications.
- giving one of your owners a report
- and posting the vacancy’s listing on a website.
- That is a lot to handle.
A team really helps with that. But technology also does. While you desire both, technology is much less expensive.
We’ll go through some of what property management software can accomplish for your company and how it can change how you run things below.
After that, we’ll provide you with a list of the top 10 rental property management software solutions, giving you lots more possibilities.
Let’s start by discussing the qualities you ought to search for in a top-notch rental property management solution.
What characteristics should rental property management software have?
Remember that not all rental property management tools are created equal (i.e., have the same functionality).
You should take the following factors into account while selecting software:
Features that a certain piece of software possesses
What characteristics among those appeal to you?
And what characteristics do you require (i.e., the must-haves)?
The features you receive from the program may vary depending on what they are, and some provide extra functions that can help you streamline and automate more aspects of your property management activities.
You should search for the following characteristics in quality property management software:
1. A tenant portal and automatic rent payments
Rent collection and tenant communication are made easier for you as a result of rental property management software.
Having software that enables quicker, more dependable, and semi-automated rent payments is crucial since it prioritizes the bottom line.
A comprehensive tenant portal is a feature of many property management software programs, allowing you to collect rent and interact with renters online.
Then, using the interface, tenants may manage rent and other obligations like pet rent, parking costs, and even maintenance requests.
Discuss effectiveness.
Renting—is it quicker, more dependable, and requires less of your time? There are perfect universes.
2. Control maintenance requests.
It might be challenging to coordinate work orders between renters and vendors, follow up with this individual while placing this order, and communicate with that vendor.
Your repair order system may be streamlined with online rental property management software, which is another important area of assistance.
The majority of property management solutions allow you to:
- Accept tenant requests for repairs directly.
- Create work orders, then include notes and photographs as attachments.
- Give a vendor that works order.
- Debit that merchant.
- And provide renters with updates on that maintenance request as well as information about it.
You can simplify and expedite the entire process by gathering all of your work orders in one location and using a single central communication channel.
3. Online applications and candidate evaluation
The finest rental property management software not only makes rent collection and maintenance requests simpler and even partially automated, but it also helps you find new renters by doing the same.
Many tools for property management include the following features:
Applications can be completed totally online, and the application fee can be paid. With a few clicks, you can see the status of those applications.
Screening of candidates: Many systems enable applicants to request their own background check while submitting their application and processing the money, which makes the entire admission procedure simpler.
4. Automated job postings
Need some assistance right away as well?
A wasted opportunity and money that are actively sliding through your fingertips are vacant apartments.
Fortunately, a lot of rental management software lets you automatically advertise unoccupied apartments on popular real estate listing websites. There is no need for further effort.
In this manner, you may maximize cash flow and have minimal downtime between renters.
After discussing some of the essential components of the typical rental property management application, let’s explore the top software choices.
Also check: 15 Best Data Management Software & Top Tools 2023
15 Best Property Management Software
Let’s take a look at the best property management software to Manage Apartments for rent on 2023
1. Rentroom
Rentroom, a full property management system, has a user-friendly interface and solid accounting capabilities.
The software is a respectable choice for condos, multi-family homes, and HOA properties because it also has some exclusive community features.
However, Rentroom only offers a few accounting reports; if that’s a crucial function for you, this might not be the ideal choice.
- Rental-room amenities
- Online reminders for collecting and paying rent
- Additional fundamental accounting elements include cash reconciliation.
- landlord portal
- Maintenance supervision
Rentroom Pricing
To test the program prior to purchasing, Rentroom provides a free trial. You will need to get in touch with them personally to learn more, as they don’t make their prices available to the public.
2. Rent Manager
Award-winning property management software, Rent Manager, is designed for any-sized residential, business, and short-term rental portfolio. Maintenance management and scheduling, a double-entry accounting system, mobile applications, marketing integration, more than 450 informative reports, and an API that interfaces with the top suppliers on the market are among the program’s completely configurable features.
Rent Manager manages a variety of properties. It is strong enough to support large portfolios yet flexible enough to be tailored to each particular unit.
Users have access to their data from any location, including the office, home, the field, and emergency maintenance calls. Rent Manager provides user-friendly mobile applications like rmAppSuite Pro and rmResident in addition to adaptable platform choices like Rent Manager Online and Rent Manager Express. Accept payments, carry out inspections, generate reports, and interact with renters, among many other things.
Pricing for rent managers
Beginning cost: $200.00 monthly
Free test: Available
Free variation is Not Accessible
3. DoorLoop
Would you like a complete rental property management system that
- All the characteristics we listed above (and more)
- Excellent and prompt client service
- Designed with user-friendliness in mind
- And at a cost that is readily within your means?
- So DoorLoop is the best option.
DoorLoop was created with many of the usual drawbacks of other property management software (slow and clunky UI, poor customer support) in mind since it was created by property managers, for property managers.
DoorLoop can manage any kind of property, whether you just deal with rental homes or have a diverse portfolio.
DoorLoop offers
Manage all aspects of your real estate accounting in one location, including automated rent payments, tailored reports, bank reconciliations, different payment options, and connectors with widely used accounting programs like QuickBooks.
Convenient tenant portal: collect rent, interact with renters, and even enable tenants to self-report maintenance issues from inside the app.
Work order management is made simple: after renters submit maintenance requests using the app, generate the work order, add comments and photographs, assign it to a vendor, pay that vendor, and get in touch with the tenant.
Print checks produce reports, and more using the owner portal.
Easy marketing and screening: Use the app to screen renters, automatically advertise unoccupied properties on popular websites, and do background checks. And a lot more
DoorLoop pricing
The price is perhaps the biggest difference in the realm of property management software. Some are within the ordinary budget, while others are far more expensive.
DoorLoop, fortunately, has you covered. For up to 20 properties, DoorLoop pricing starts at only $59 per month, invoiced yearly. Plan a free demonstration now!
4. Moxo
Moxo is a cloud-based business interaction management system that engages end users with a one-stop digital experience and helps organizations build branded portals to keep in constant communication with internal teams and external clients. Moxo, a suite of collaboration tools created for virtual workplaces, guarantees company continuity by delivering linked experiences to all users. video conferencing, Secure messaging, virtual data rooms, eSignature capabilities, screen sharing, task management, visual annotations, transaction processing, social app connections, and other features are among the features available.
Businesses may offer continuous customer care with Moxo, utilizing integrated video conferencing and encrypted messaging in a customized OneStop platform. Business papers may be digitally signed with e-signing capabilities, classified and organized with virtual data rooms, and kept safely in the cloud. For clear communication, users may add instructive visuals, videos, and spoken comments to any shared content. In order to focus on the problems or activities at hand, users can interact digitally by utilizing screen-sharing features. Businesses may also control all communications between internal staff and customers on social media platforms like WeChat and WhatsApp.
Users may utilize to-do lists and dedicated binders to track the progress of any work using Moxo’s task management system. To streamline current procedures, Moxo can interact with external document management, CRM, and other systems thanks to built-in Webhooks.
Mobile applications for iOS and Android are available for Moxo.
Pricing For price details, get in touch with Moxtra directly.
Free test: Available
Free variation: Available
5. Landlord Studio
A PC version and practical iOS and Android apps are now available for the property management software Landlord Studio. A neat and contemporary user interface and reliable accounting functions are unique qualities.
However, in comparison to other applications on this list, Landlord Studio might feel a little lacking beyond its accounting functions.
- Features of Landlord Studios
- Strong accounting tools, including rent and cost tracking and reporting,
- Renter vetting
- Simple UI
Price for a Landlord Studio
The monthly price structure used by Landlord Studio includes an extra charge for each unit. Each extra unit beyond the first is $1 per unit per month under their Start plan, which is $5.99 per month for 1 unit.
When paid annually for 1 unit, their premium Scale plan starts at $19.99 per month; each additional unit is an additional $1 per month.
6. OnCite
A cloud-based property management tool called OnCite assists companies in tracking and organizing data about their portfolios, buildings, and assets. A range of assets, including corporate, medical, industrial, and others, are served by the solution, which was created for big and medium property managers.
A contact management function provided by OnCite enables users to connect renters with their lease abstracts and properties. Users of the service may also examine open work orders, expiring leases, unoccupied properties, and due notices on a dashboard.
Access to the OnCite solution is possible both through mobile devices and other transportable handhelds like the iPad. Telephone, email, and other internet services are used for support.
Prices for OnCite
Beginning cost: $199.00
Free test: Not accessible
Free variation is Not Accessible
7. Propertyware
Another rental management program with extensive accounting capabilities is Propertyware. It offers personalized reports and automated reminders for payments.
Propertyware is a good option to think about if you’re really interested in robust accounting report capabilities because it features some of the best on this list.
The main disadvantage is that Propertyware’s pricing is exorbitant because it is made for larger portfolios with more than 250 units.
- Propertyware capabilities
- dependable accounting features and thorough reporting
- handling of maintenance orders
- ownership portal
- Tenant interactions
Pricing for propertyware
Propertyware offers a strictly per-unit model that is anchored by a monthly minimum, as opposed to the typical per-unit, per-month manner.
Their fundamental plan is costly in comparison to the majority of the alternatives on our list, costing $1 per unit per month with a $250 minimum.
There is an extra onboarding cost that is multiplied by your monthly payment ($500 if you pay the $250 minimum). This price is in addition to the monthly fee.
8. Buildium
Buildium is a cloud-based property management software that empowers managers of residential and association properties to take charge of every element of their operations, whether working in an office setting or completely from home. This includes managing online payments, scheduling maintenance, managing vacancies, and keeping track of finances.
With tools like tenant and lease monitoring, comprehensive general ledger accounting, automatic rent and fee reminders, and on-demand reporting, Buildium simplifies the rent cycle. Rent collection for the landlord may be automated, and property managers may accept online payments through Buildium’s tenant interface.
The first step in managing the hiring cycle is syndicating job openings to Buildium’s listing partners (such as Zillow, Trulia, Craigslist, etc.) and the company’s own free marketing website. When applicants submit online rental applications using Buildium, the data is immediately stored in the Buildium tenant database. Buildium also provides tenant background checks and tenant screening services.
Through the resident portal, tenants may utilize Buildium to submit rent payments as well as maintenance requests. Using desktop or mobile apps, property managers may convert requests into work items and allocate them to maintenance managers and workers.
Buildium Cost Plans begin at just $50 per month.
Beginning cost: the monthly cost of $52.
Free test: Available
Free variation is Not accessible
9. Hemlane
Hemlane distinguishes itself from many of the tools on this list thanks to a number of special features.
Agent Match, a feature that may pair you with nearby agents for showings, as well as other leasing options, are among the features.
Hemlane is one of the more expensive alternatives on the list, depending on how many units you have, so that is the trade-off.
Hemlane offers
- instruments for renting, such as tenant screening
- characteristics specific to local support, such as agent match
- Maintenance supervision
- Paying rent online
Hemlane pricing
Hemlane has a fairly simple pricing structure, yet it can be quite expensive. To help you decide whether to invest, they provide a 30-day free trial, which partially balances this.
Their basic plan starts at $30 per month and costs $2 for each additional unit thereafter. In other words, if you own 20 homes, your monthly payment would be $70.
Their top-tier Complete plan starts at $60 per month and costs a staggering $32 per property per month for each additional property.
10. Property Boulevard
A portfolio of both commercial and residential properties may be managed using Property Boulevard. The system allows access to several network users and offers administration and accounting features. The program has many deployment options and may be set up either as a web-based application or as a Windows application. The platform database includes information on a variety of commercial and residential real estate, including retail, industrial, and mixed-use buildings, as well as homeowners associations, Section 8 housing, single-family homes, and multi-unit dwellings.
Property Boulevard can expand to accommodate changes in organization size and meet the demands of big, mid-sized, and small businesses. Property Boulevard users may make use of the system to manage their properties, plan out how rent is collected, pay bills, and send out legal notices. A single computer, many machines connected to a local network, and several users connected to an online network are configuration choices.
Every transaction, creation of a document, and correspondence that occurs in the user’s office are all recorded by Property Boulevard. The orderly and instantaneous uploading of Property Boulevard’s transaction records makes it possible for all network users to see the transactions right away and promptly fix or delete any errors. In order to provide transparent reporting capabilities, audit trails are kept throughout the procedure. Customers using the program have access to a variety of support options, including telephone help, on-site support, data conversion, and training courses.
Pricing for Property Boulevard
Service Online: $125 per concurrent user per month
Beginning cost: $2,400.00 paid once
Free test: Available
Free variation is Not Accessible
11. TenantCloud
One of just two solutions on our list that provides an entirely free version is TenantCloud. Additionally, it extends that plan to an incredible 75 units.
What are the compromises? TenantCloud has a restricted amount and breadth of capabilities overall, lacking many of the premium features that other property management software has, despite the fact that their free plan is distinctive.
- TenandCloud has attributes.
- Online rent payments, reports, and other fundamental accounting elements
- Work order administration
- Supplier payments
TenantCloud pricing
A plan of up to 75 units is 100% free from TenantCloud.
To access some of the capabilities not included in the free plan, you may upgrade to the beginning premium tier, which costs $15 per month for up to 150 units, or to the comprehensive list of features, which costs $50 per month for up to 500 units.
12. PropertyBoss
For mid-sized to large property managers, PropertyBoss is a property management system. The program is designed with managers of apartment buildings, low-cost housing units, military housing, prefabricated homes, self-storage facilities, residential properties, elder housing, student housing, university, and more in mind. PropertyBoss is a web-based or on-premise system that works with both Macs and PCs.
PropertyBoss features include tenant and lease tracking, budgeting and forecasting, property accounting, and building maintenance. The general ledger, accounts payable, and gain and loss analysis, among other accounting functions, are only a few. Online payments, vacancy planning, resident screening, unit characteristics, and other features are included in the tenant and lease monitoring tools. Users may manage the maintenance requirements for their properties by using the building maintenance capabilities, which include work orders, inventory and job monitoring, scheduling prioritization, and more.
PropertyBoss has been a leader in the property management sector for more than 15 years and is an Intuit (Quickbooks) gold developer.
PriceBoss for Property
Prices for PropertyBoss begin at $1.25 per unit each month. For larger unit numbers, please get in touch with PropertyBoss Solutions directly.
Beginning cost: $2.50 a month
Free test: Not accessible
Free variation is Not Accessible
13. Rentmoji
Another outstanding rental property management software is Rentmoji, which is available as a practical desktop and mobile app.
You receive a clear user interface that is simple to use with Rentmoji, coupled with a lengthy number of useful connections like QuickBooks.
The main drawback is the pricing, as Rentmoji is more expensive than the majority of the solutions on our list despite providing comparable capabilities.
- Rentmoji attributes
- Tools for tenant communication
- several integrations
- Maintenance supervision
- Automated rent payments and other accounting tools
Rentmoji pricing
You must speak with their sales staff directly if you want further information about Rentmoji’s price, which is not publicly available.
14. Rentec Direct
Landlords and property managers may use Rentec Direct as a web-based, feature-rich management solution that is tailored to their needs for properties with between 25 and 5,000 units. Rentec features no beginning costs, no term obligations, and limitless client service and training from US-based providers.
Online portals for tenants and owners, a custom website and website hosting to promote your business and properties online, work order tracking, automated ACH and credit card payment processing, syndication of vacancy listings, online rental applications, electronic signatures with DocuSign, electronic 1099 filing, and utility billing integration are some of the key features of Rentec Direct.
Rentec has put in place strong bank-grade security requirements to protect client data, such as 2FA, real-time secure data backup and third-party security verification. The app works with a variety of mobile devices and the Windows and Mac operating systems.
Direct pricing from Rentec
There are two subscription packages offered: $35/month for Rentec Pro $40/month for Rentec PM The cost varies depending on how many units need to be managed.
15. Landlordy
The fact that Landlordy is an iPhone-only option makes it special. This can be a good fit if all you need is a straightforward solution that mostly aids in tracking rent payments and sending invoices.
A tenant portal, an owner portal, and maintenance management are just a few of the more expensive features that many of the other alternatives on our list provide, so keep that in mind. It’s also vital to take into account that there is now only an iOS version available.
iPhone connections from the landlord include SMS payment reminders. There is no Android app with basic accounting functionality like rent and spending monitoring.
Rent-based pricing
A free plan is available from the landlord for up to one property and a tenant lease. Their entry-level subscription, which includes data backup among other extras, is $14.99 a month.