Property management software makes managing rental properties easy by automating tasks like rent collection, tenant management, and maintenance tracking. It reduces manual work, boosts efficiency, and improves communication between landlords and tenants.
As property management becomes increasingly complex, these software solutions are indispensable. They streamline rent payments, manage maintenance requests, and help ensure compliance with regulations. According to Fortune Business Insights[1], the property management software market is expected to soar from $24.18 billion in 2024 to $52.21 billion by 2032, fueled by the need for better tenant experiences and more efficient operations.
Landlords and property managers struggle with late payments, chaotic maintenance schedules, and disorganized record-keeping without these tools. Manual processes also delay financial tracking, tenant engagement, and tax preparation, leading to lost income and dissatisfied tenants. This makes property management software more crucial than ever.
Geekflare tested dozens of the best property management software and shortlisted a few based on key features, pricing, pros & cons, and more.
- Buildium – All-in-one Solution to Manage Property
- TenantCloud – Cheap Solution to Manage Property Portfolio
- AppFolio – Offers AI-driven Insights and Automation
- Entrata – Offers Resident Portal
- Rentec Direct – Best for Rental Business
- Yardi Breeze – Cloud-based Property Management Solution
- Innago – Free Solution to Manage Residential and Student Housing
- Guesty – Best for Hospitality Operations
- RentRedi – Best for Landlords
- Hemlane – Best for Small Property Portfolio
- Rent Manager – Offers Accounting, Reporting and Managing Business Operations
- DoorLoop – Offers Inbuilt Property Management CRM
- ResMan – Built for Multi-Family Operators
- Avail – Best for Individual Landlords
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Buildium
All-in-one Solution to Manage Property
Buildium is designed to streamline daily operations and drive business growth. Whether managing residential, commercial, or community association properties, Buildium offers property managers the tools to run their portfolios efficiently. Its open and scalable platform allows businesses to manage everything from communication with residents to financial reporting under one system, helping property managers focus on growth instead of administrative work.
One of Buildium’s standout features is its flexibility. There is no minimum unit requirement, so users only pay for the services they need, making it suitable for businesses of all sizes. From managing maintenance requests to handling board communications, the software simplifies day-to-day tasks to keep operations running smoothly.
Buildium offers powerful leasing tools to optimize the lead-to-lease cycle. Managers can list vacancies, schedule showings, and screen tenants online, making the leasing process faster and more effective. Built-in eSignature functionality allows tenants to sign leases from any device, making paperwork a thing of the past. Renters’ and property insurance options help safeguard both the property and tenants, adding an extra layer of protection.
Buildium offers integrated marketing tools for property managers to build a professional website, advertise units, and connect with property owners. Buildium’s analytics tools offer real-time insights into portfolio performance, helping businesses make data-driven decisions. The Open API allows businesses to integrate other applications, enhancing operational efficiency.
Buildium Pros
Scalable for any portfolio size, from 1 to 5,000 units.
No minimum unit requirement.
Online payments work flawlessly, and the pricing page is detailed and easy to compare.
Provides a 14-day free trial.
Buildium Cons
All plans have bank account setup fees, and the Growth and Premium plans include limited free accounts (5 and 15, respectively).
In the Essential plan, eSignature transactions incur an additional charge of $5 per use.
Lower-tier plans have higher fees for incoming EFT transactions, costing $1.25 per transaction in the Essential plan, while the Premium plan waives these fees.
The Open API feature is restricted to the highest-priced plan.
Buildium Pricing
| Plan | Pricing (monthly) | Ideal for |
|---|---|---|
| Essential | $58 | Basic property management with accounting and maintenance. |
| Growth | $183 | Property managers seeking enhanced features and support. |
| Premium | $375 | Established businesses needing advanced analytics, API, and support. |
TenantCloud
Cheap Solution to Manage Property Portfolio
TenantCloud simplifies the lives of landlords, property managers, and tenants. The software allows users to manage their rental properties more efficiently. Whether you own a small portfolio or oversee a large business, the platform offers tailored tools to streamline operations, automate processes, and keep financial records in check.
TenantCloud’s automated accounting system lets users create rent invoices, track deposits, issue receipts, and handle late fees automatically. The platform integrates with online payment options, allowing tenants to set up autopay and access payment histories 24/7. TenantCloud also makes bookkeeping easy with reconciliation tools that match transactions against bank statements, reducing errors and saving time. Users can sync data with QuickBooks Online, ensuring smooth accounting management across systems.
TenantCloud offers tools to manage tenant screening, lease agreements, and maintenance requests. The built-in listing syndication feature helps landlords advertise vacancies across multiple platforms while tracking leads and rental applications. Maintenance requests can be managed directly on the platform, ensuring quick invoicing for service providers. For larger property managers, the software provides task management, team tools, and landlord message boards to effectively coordinate with staff and tenants.
Users can customize reports for better insight into their rental business. TenantCloud generates essential documents like tax reports, tenant statements, rent rolls, and maintenance summaries. The Rentability Report offers valuable market insights by comparing rental trends and vacancy rates in the local area. This report helps users optimize rent pricing and improve vacancy turnover, making their properties more profitable. Additionally, all data is securely stored in the cloud and can be exported in various formats, including Excel and PDF.
TenantCloud Pros
Unlimited property listings are available under all plans.
The platform can handle almost every facet of property management and helps consolidate diverse operations.
Higher-tier plans support task management, team calendars, and permissions, making it ideal for larger property management teams.
TenantCloud Cons
Advanced team management features, including team tracking and messaging, are only accessible in the most expensive Business plan.
Upper-tier plans can get expensive, especially for property managers with large portfolios or those requiring a wide range of features.
Extremely useful features like tax reports, reconciliation, and application customization are unavailable in the Starter and Growth plans, limiting their use for smaller portfolios.
TenantCloud Pricing
| Plan | Pricing (monthly) | Ideal for |
|---|---|---|
| Starter | $15.60 | Basic rent and maintenance management. |
| Growth | $29.30 | Enhanced features like lease building and landlord forms. |
| Pro | $50.40 | Advanced reporting and customization options. |
| Business | Custom | Comprehensive team and task management tools. |
AppFolio
Offers AI-driven Insights and Automation
AppFolio streamlines operations and enhances the overall experience for property managers and their clients. It offers a property management tool tailored for various property types, including residential, commercial, and multifamily properties. The platform’s design emphasizes simplicity, allowing users to manage their portfolios efficiently without the complexity often associated with property management software.
AppFolio has a great feature called AppFolio Stack which integrates seamlessly with various proptech applications. This flexibility enables property managers to customize their workflows and access tools that meet their needs. The marketplace connects users with certified partners, ensuring that all essential processes — from accounting and bookkeeping to tenant communications — are streamlined and efficient. This integration allows teams to focus on growing their businesses while ensuring operational tasks are handled smoothly.
AppFolio provides a powerful database API for users requiring advanced customization. This feature enables businesses to create tailored analytics, integrations, and workflows vital for scaling their operations. The API offers enterprise-level control and access to the AppFolio database, complete with comprehensive documentation and testing environments validated by AppFolio Stack partners. Additionally, the platform supports automated late fees, CAM tracking and reconciliation, and bulk tenant charges designed to enhance property management efficiency.
AppFolio Realm-X (AI assistant) offers a suite of AI-driven features designed to enhance property management efficiency. Key functionalities include Smart Bill Entry, which automates invoice processing, and an AI Leasing Assistant named Lisa that helps streamline tenant communication and lease management. The Smart Maintenance feature efficiently handles maintenance requests, while Marketing Descriptions leverage AI to generate engaging property listings.
AppFolio Pros
Offers one of the best AI assistants, which can automate key tasks like bill entry, leasing, and maintenance management.
Appfolio’s UI is intuitive and responsive. In the property management world, finding an easy-to-use platform is hard.
Offers a free demo to try out software functionalities.
AppFolio Cons
Pricing is not available.
Some users might find the software difficult to navigate, especially when using advanced features like the API.
Advanced features like custom fields and database API access are only available in the most expansive “Max” plan, restricting flexibility for users on lower plans.
AppFolio Pricing
For pricing information, contact the sales team.
Entrata
Offers Resident Portal
Entrata simplifies and enhances property managers’ operations. With a user-friendly interface and a wide range of integrated solutions, Entrata caters to various property management needs, including marketing, leasing, accounting, and utility management. The platform is built to save time and increase efficiency, allowing property managers to focus on enhancing resident satisfaction.
One of Entrata’s key features is its automation for marketing and leasing. The platform empowers property managers to capture, consolidate, and convert leads through optimized workflows. Prospective residents can easily fill out guest cards from any platform, funneling their information directly into a centralized dashboard. This streamlined approach enables teams to prioritize leads based on their likelihood to convert, enhancing occupancy rates while reducing the cost per lead.
Entrata’s accounting solutions further simplify financial management. The software automates critical tasks, such as accounts payable and journal entries, providing real-time access to financial data. This functionality helps property managers maintain a clear view of their financial health and make informed decisions. Additionally, Entrata’s powerful reporting features allow for detailed insights into property performance, enabling efficient budget management and forecasting.
Entrata’s utility management tools are equally impressive. By automating billing processes and providing actionable insights into utility consumption, property managers can optimize expenses and enhance their properties’ net operating income (NOI). The platform’s paperless billing system ensures residents can easily manage their utility payments, improving their overall experience.
Entrata Pros
Highly flexible platform allows property managers to tailor workflows and operations to meet their unique business needs.
Typically intuitive, allowing users to locate essential information without delay easily. Offers powerful reporting features, a great marketing suite, and many integration options. Users won’t find any missing features on this platform.
Entrata Cons
Lacks a dedicated pricing page; users need to contact sales for information. This prevents potential customers from comparing pricing and features.
Customer support is often reported as slow and inadequate, making it difficult for users to get through and receive timely assistance.
Entrata Pricing
For pricing information, contact the sales team.
Rentec Direct
Best for Rental Business
A key aspect of Rentec Direct is its dedication to ensuring smooth online transactions. With options for online rent payments, property managers can accept credit card and ACH payments, significantly reducing the hassle of managing cash and checks. This feature allows tenants to pay rent conveniently, while property owners can receive payments electronically without the need for manual bank visits. Rentec Direct supports a cash payment network, enabling tenants to pay their rent in cash at various locations and ensuring flexibility for all types of renters.
Rentec Direct has a strong set of Tenant screening features. The software offers a range of tenant screening packages, allowing landlords to conduct thorough background checks with competitive pricing. Additionally, the platform includes work order management, enabling users to track maintenance requests efficiently. Both landlords and tenants can submit and manage maintenance tasks through the tenant portal, ensuring timely responses to repairs.
The software further provides robust reporting capabilities crucial for maintaining accurate financial records. Users can generate customizable income and expense reports, making it easier to track profitability and prepare for tax season. With features like 1099 e-filing and tax report generation, Rentec Direct simplifies compliance for property managers.
Overall, RentRedi provides a full suite of tools for efficient property management. The software combines essential functions like online payments, tenant screening, and maintenance tracking into a single platform, all backed by excellent customer support. With Rentec Direct, property managers can operate more efficiently and focus on delivering a positive experience for their tenants.
Rentec Direct Pros
Does not require term contracts and setup fees.
Allows free online tenant payments via eCheck/ACH, automating rent collection.
Customer service team is well-trained and knowledgeable. Users shared positive experiences when issues arose, highlighting effective communication and excellent support.
Rentec Direct Cons
Higher tenant screening fees for more comprehensive reports could add up for landlords managing multiple properties.
Tenant payment processing fees for credit/debit cards and cash payments are an additional cost.
The free cash payment setup requires a minimum of 10 transactions per month, which may not suit smaller portfolios.
Rentec Direct Pricing
| Plan | Pricing (monthly) | Ideal for |
|---|---|---|
| Rentec Pro | $45 | Landlords and investors needing comprehensive accounting & reporting for unlimited tenants and properties. |
| Rentec PM | $45 | Property managers needing marketing and maintenance management. |
Yardi Breeze
Cloud-based Property Management Solution
Yardi Breeze is cloud-based property management software designed to streamline residential, commercial, affordable, and self-storage portfolio operations. It offers essential tools to help property managers handle day-to-day tasks efficiently. With no onboarding or support fees, it provides a cost-effective solution for managing properties of all sizes, from homeowners’ associations to large rental complexes.
Rent collection is made easy with various payment options, including online payments through credit cards, ACH, and PayNearMe for in-person payments at participating retailers. Yardi Breeze automates recurring postings and fee schedules while helping managers monitor delinquencies to keep financial records accurate and updated. Its built-in accounting features cover general ledger functions, budget tracking, escrow account management, and 1099 preparation to simplify tax filings.
Maintenance management within the software offers seamless tracking of work orders, including task assignments and vendor coordination. Residents can submit maintenance requests online, and managers can attach documents, photos, and videos to ensure thorough task documentation. Yardi Breeze supports invoice processing with approval workflows, helping users reduce errors and speed up payments to vendors and owners. Additionally, batch processing and full-service invoice outsourcing make accounts payable more efficient.
The platform offers flexibility with various plans tailored for different property types, including residential, self-storage, manufactured housing, and more. Yardi Breeze features adaptable plans, such as Breeze Premier, which provides advanced functionalities like an AI-powered chatbot, property websites, online lease documents, rent deferment, and additional options.
Yardi Breeze Pros
Does not charge any onboarding, training, or support fees.
Includes live chat support and built-in training videos to help users navigate the platform effectively.
Users find the platform has great chat support.
Yardi Breeze Cons
Additional fees (the amount not mentioned on the website) apply for many essential features, such as renters insurance, corporate websites, and resident screening, which can increase costs.
Pricing starts at $1 per unit, but minimum unit requirements may lead to higher overall expenses for smaller portfolios.
Doesn’t have a mobile app.
Yardi Breeze Pricing
| Plan | Pricing (per unit/monthly minimum apply) | Ideal for |
|---|---|---|
| Residential | $1 | Property owners needing accounting and vacancy tracking. |
| Residential Premier | $1 | Owners seeking advanced residential management features. |
| Commercial | $2 | Commercial property managers needing accounting and CAM reconciliation. |
| Commercial Premier | Custom | Managers requiring comprehensive features for commercial properties. |
| Affordable Premium | $3 | Property managers needing compliance and asset tracking. |
| Self Storage Premium | Custom | Operators needing online leasing and gate integration. |
| Associations Premium | $1 | Associations needing tracking and management of owners and violations. |
| MH Premium | Custom | Managers needing tracking for lot availability and utility charges. |
Innago
Free Solution to Manage Residential and Student Housing
Innago is designed to streamline operations for landlords and property managers. The platform combines powerful tools for managing rental properties, simplifying daily tasks while enhancing the tenant experience. With no monthly fees or contracts, Innago provides a cost-effective solution that supports diverse property types, including residential, commercial, student housing, and more.
Innago excels with its online rent collection feature, which allows tenants to pay conveniently through the tenant app. This feature reduces late payments and improves cash flow. The software also includes customizable lease agreements that can be signed digitally, eliminating paperwork and ensuring a seamless leasing process. Additionally, Innago provides comprehensive tenant screening, allowing landlords to assess prospective tenants efficiently.
The software supports maintenance requests, enabling tenants to report issues easily and track progress. Landlords can manage maintenance tickets within the platform, ensuring timely resolutions and tenant satisfaction. Innago prioritizes security, utilizing cloud-based storage to protect sensitive information while facilitating easy access to data from any device.
Moreover, Innago’s integrations with popular platforms like QuickBooks, Zillow, Dropbox Sign, Movoto, Hotpads, Zumper, and more enhance its functionality. These integrations simplify accounting processes and broaden listing exposure. With features tailored for various property types, Innago is a versatile solution that empowers property managers to run their businesses effectively while focusing on growth.
Innago Pros
Centralizes all tenant-related operations in one place, improving communication and efficiency.
Free for landlords and property managers and charges no monthly fees, setup costs, or contracts, making it highly cost-effective.
Smoothy adds units and tenants.
Innago Cons
Offers limited API integrations compared to competitors, making it harder to sync with other software systems.
Lack of custom features may pose challenges for landlords managing larger property portfolios or requiring highly tailored solutions.
Innago Pricing
| Plan | Pricing (monthly) | Ideal for |
|---|---|---|
| Free | $0 | Basic support, online leasing, and communication tools. |
Guesty
Best for Hospitality Operations
Guesty is designed for hosts and property managers looking to streamline their operations. It caters to various properties, including vacation rentals, urban rentals, and serviced apartments, and offers a suite of tools tailored to enhance efficiency and maximize revenue. With features that scale alongside your business, it is an ideal solution for anyone from individual hosts managing a few listings to larger operations with hundreds of properties.
Guesty offers Channel Manager, which ensures property managers can distribute their listings across multiple platforms, including Airbnb, Booking.com, and Vrbo, without the risk of double bookings. This feature is essential for optimizing occupancy rates and managing reservations effectively. The platform also offers revenue management tools, allowing users to adjust pricing strategies based on market conditions, helping to ensure competitive rates and maximum profitability.
Guesty offers a Guest Communication Services feature that allows property managers to respond to guest inquiries quickly, improving customer satisfaction and boosting booking conversions. The platform’s analytics capabilities further empower users to make data-driven decisions. By analyzing performance metrics, property managers can refine their strategies and enhance operational efficiency.
In addition to its core offerings, Guesty provides several add-ons that enhance the user experience. These include GuestyPay for seamless payment processing, Guesty Capital for flexible funding options, and a customizable website builder to increase direct bookings.
Guesty Pros
Lets you create detailed reports using over 65 customizable parameters.
Users appreciate that the software includes all the necessary features, and the platform continues introducing additional functionalities.
Offers a multi-calendar to provide a great overview of bookings and a smooth customer experience.
Guesty Cons
Extensive range of features can be overwhelming for new users, leading to a steep learning curve when first adapting to the platform.
Focus on vacation rentals may not fully cater to property managers dealing with long-term or diverse rental types, limiting its appeal to broader property management needs.
Guesty Pricing
| Plan | Pricing (per listing/month) | Ideal for |
|---|---|---|
| Lite | $27 | Property owners needing basic management tools. |
| Pro | Custom | Property managers wanting advanced features like distribution, multi-unit management, and CRM. |
| Enterprise | Custom | Large enterprises needing fully customized solutions and premium support. |
RentRedi
Best for Landlords
RentRedi enables landlords to streamline various processes, from rent collection and tenant screening to property accounting and maintenance management. One of the key features of RentRedi is its seamless rent collection system, allowing landlords to accept payments via mobile or web. Tenants can choose their preferred payment method: ACH, credit card, or cash.
Additionally, the software supports automated rent reminders and receipts, ensuring landlords and tenants stay informed throughout the payment process. This automation reduces the likelihood of late payments and enables a smoother financial management experience.
RentRedi’s tenant screening feature is powerful. By utilizing TransUnion’s secure screening services, landlords gain access to comprehensive credit, criminal, and eviction reports, allowing for informed decisions when selecting tenants. The platform offers a prescreening questionnaire, which helps landlords identify suitable candidates before proceeding with formal applications. This feature expedites the tenant selection process and enhances the quality of tenant placements.
RentRedi prioritizes tenant engagement through its dedicated mobile app. Tenants can manage their rental experience directly from their devices, making it easy to pay rent, submit maintenance requests, and access essential documents. Furthermore, the app provides an integrated solution for renters’ insurance, ensuring that tenants are covered while offering landlords an added layer of protection for their investment.
RentRedi Pros
Supports various payment methods, including cash, credit, debit, and ACH.
Application process for prospective tenants is easy to navigate.
Offers portal for both owners and tenants.
RentRedi Cons
No free trial
Bank deposits may take up to 5 days to clear.
No API access.
RentRedi Pricing
| Plan | Price (monthly) | Ideal for |
|---|---|---|
| Monthly | $29.95 | Users needing full access with no long-term commitment. |
| Annual | $12 | Long-term users looking for the best value with unlimited access. |
| 6 Months | $20 | Users looking for a mid-term option with full features and flexibility. |
Hemlane
Best for Small Property Portfolio
Hemlane is designed specifically for real estate investors and landlords looking to streamline their operations. The platform allows users to manage their long-term rental properties from anywhere in the world. Hemlane’s unique approach allows for seamless communication and integration of various property management tasks, ultimately saving landlords time and enhancing operational efficiency.
Hemlane’s online rent collection system is extremely useful. It automates the payment process, from tracking rent payments to managing late fees. This ensures that 100% of the rent goes directly to property owners without hassle. Additionally, the platform boasts significant time savings—up to 70%—allowing landlords to focus on other aspects of their lives while still maintaining control over their rental income. Hemlane empowers landlords to automate late fee management, ensuring they are fully set up to handle such situations effectively.
The software includes rich property maintenance tools, helping landlords take a break from tenant repair calls. With 24/7 access to a network of licensed professionals, landlords can track repair requests and communicate efficiently with service providers. Hemlane’s repair coordination software helps landlords identify and resolve common maintenance issues, ensuring tenant requests are handled promptly.
If you’re worried about handling your finances, Hemlane provides an integrated property management accounting system. This feature lets landlords sync bank transactions and track rental performance in real-time, boosting financial accuracy and reducing accounting errors by 30%. The platform eliminates the need for traditional spreadsheets, offering a streamlined, automated approach to financial management.
Hemlane Pros
Offers email, phone, and live chat support.
Offer a 14-day free trial on any paid plan.
Facilitates automatic rent collection and reporting, ensuring landlords receive 100% of rent, including any late fees, without surprise deductions.
Hemlane Cons
High add-on fees for additional services like tenant placement, eviction guidance, and inspections can quickly increase overall costs.
Base fees and per-unit pricing can make the platform costly for owners with multiple properties or smaller portfolios.
Lacks a mobile app, making it inconvenient for on-the-go access.
Hemlane Pricing
| Plan | Pricing (monthly) | Ideal for |
|---|---|---|
| Free | $0 | Users needing basic property management tools. |
| Basic | $30 | Landlords seeking comprehensive features for marketing and management. |
| Essential | $48 | Users wanting state-specific leases and repair coordination. |
| Complete | $96 | Property managers needing full service support and tenant communication. |
Rent Manager
Offers Accounting, Reporting, and Managing Business Operations
Rent Manager offers an essential suite of features to streamline day-to-day operations, making it a vital tool for real estate professionals. Users can efficiently handle everything from tenant applications and rent collection to maintenance requests and financial reporting.
Rent Manager integrates seamlessly with various third-party applications. Users can tailor their software experience through integrations that cover a wide range of services, including resident screening, utility billing, and online payment processing. This adaptability empowers property managers to create customized solutions that meet their unique operational demands. Additionally, the platform’s built-in tools facilitate effective communication between property managers, tenants, and owners, ensuring everyone stays informed and engaged.
A unique aspect of Rent Manager is its commitment to user support and training. The software provides unlimited live support and access to the training calendar, ensuring users can fully leverage the platform’s capabilities. Furthermore, the software’s mobile app allows for on-the-go management, making it easy for property managers to stay connected and responsive to tenant needs. Combining these features provided a user-friendly experience that simplifies property management tasks, freeing time for managers to focus on strategic growth.
Further, Rent Manager’s API offers a powerful web services solution, enabling seamless interaction with Rent Manager Online (RMO). With both “read” and “write” access, businesses can retrieve real-time data and input new information directly into the system. This flexibility allows users to develop custom applications, integrate external software, and tailor workflows to fit their needs. The API enhances operational efficiency by offering complete customization, empowering companies to extend the platform’s functionality and streamline data management.
Rent Manager Pros
Provides excellent customer support, including onboarding, ongoing training, and one-on-one assistance from dedicated support teams.
Customers find Rent Manager University (RMU) provides courses with videos, practice exercises, and assessments.
Allows unlimited users, making it easy for teams to collaborate without additional costs.
Rent Manager Cons
Pricing bundles come with a significant monthly minimum fee, which might not be ideal for smaller portfolios.
Certain features, such as two-way texting, require separate phone number subscriptions, adding to overall costs.
Initial implementation package is double the monthly fee, increasing the upfront cost for new users.
Rent Manager Pricing
| Plan | Pricing (unit/month) | Ideal for |
|---|---|---|
| Basic | $1 | Users needing essential property management and accounting tools. |
| Plus | $1.50 | Property managers seeking enhanced communication and mobile access. |
| Premium | $2.50 | Businesses wanting advanced features like inspections and dedicated support. |
DoorLoop
Offers Inbuilt Property Management CRM
DoorLoop is designed for property managers of all sizes. It streamlines tasks, helping managers stay organized and efficient. With a focus on automation, DoorLoop reduces the time spent on administrative duties, allowing users to concentrate on growing their business. The software provides accounting, leasing, and maintenance tools, ensuring a seamless experience for managers and tenants.
It offers a feature called the Owner Portal, which enhances communication and transparency. Property owners can send direct requests and receive instant updates, informing them about their investments. The portal offers access to real-time dashboards displaying vacancies, outstanding balances, and profit and loss statements. This level of transparency fosters trust and satisfaction among owners.
The platform includes advanced reporting capabilities, allowing owners to track financials such as rent rolls and balance sheets. Managers can share tenant inquiries and maintenance requests, providing owners insight into tenant needs. This centralization of information simplifies property management, making it easier to address issues promptly and efficiently.
Additionally, DoorLoop offers a unique renters insurance option that allows tenants to purchase coverage directly through the tenant portal. This feature protects tenants and ensures property managers have peace of mind regarding liability and property damage.
DoorLoop Pros
Offers an intuitive interface that allows users to quickly navigate and utilize its functionalities effectively.
Offers excellent customer support by email and chat.
Thousands of integrations are available through Zapier, and the open API is included with the Premium Plan.
The “Global Search” feature enables users to search across the platform.
DoorLoop Cons
Onboarding fee, which varies by portfolio size, adds an extra burden and makes the software more expensive to implement.
While the Starter tier includes basic features, many advanced features, such as free eSignatures, advanced customizable dashboards, and API access, require the highest-tier plan.
DoorLoop Pricing
| Plan | Price (monthly) | Ideal for |
|---|---|---|
| Starter | $59 | Users needing essential tools for online payments and management. |
| Pro | $119 | Advanced accounting, Live bProperty managers seeking advanced accounting and communication features. |
| Premium | $169 | Businesses requiring VIP support and extensive integration options. |
ResMan
Built for Multi-Family Operators
ResMan aims to simplify operations for multifamily and affordable housing communities. It enhances efficiency while ensuring compliance with various housing regulations. ResMan helps property managers streamline their day-to-day activities, from leasing to accounting, ensuring a seamless experience for staff and residents.
ResMan packs powerful management capabilities. The platform allows users to manage conventional multifamily properties alongside affordable housing programs. It supports compliance with HUD regulations, Tax Credit programs, and other local rental assistance initiatives. This versatility makes ResMan ideal for property management companies looking to consolidate their software solutions.
The software offers an extensive marketing solution that integrates seamlessly into the lead-to-lease process. This feature helps property managers maximize conversion rates by enhancing the renter experience. With ResMan, users can manage marketing campaigns and track their effectiveness, ensuring they attract the right tenants for their properties.
In addition to its core management functions, ResMan emphasizes user experience. The platform’s dashboard provides instant access to key metrics like occupancy rates, releases, and delinquency figures. This centralization of information enables property managers to make data-driven decisions quickly.
ResMan Pros
Users can contact support whenever needed and expect a prompt response to resolve issues quickly.
Offers detailed reporting, which users can utilize to access in-depth financial reports, marketing analytics, and more.
Provides a wide range of integrations while remaining user-friendly and easy to learn.
ResMan Cons
Extensive range of features offered may result in a lengthy implementation period, which could slow down initial productivity.
Although the website mentions different features for each plan, users need to contact the sales team for clear pricing.
Additional costs may arise from required add-on solutions for extended capabilities. The pricing for add-ons is also not mentioned, making it less transparent.
ResMan Pricing
For pricing information, contact the sales team.
Avail
Best for Individual Landlords
Avail allows users to easily manage multiple properties while ensuring accurate financial tracking. It is a great property accounting tool because users can automatically sync rent payments, maintenance costs, and other transactions to their dashboard. This seamless integration helps landlords maintain visibility into all property-related transactions.
Additionally, users can manually add or edit one-time transactions to keep their financial records updated. This level of flexibility ensures that landlords always clearly understand their income and expenses.
For tax preparation, Avail tracks property accounting according to IRS guidelines. Users can categorize their transactions and view them through an intuitive dashboard. They can also export these transactions into a customizable spreadsheet, making sharing information with tax professionals easier. The spreadsheet can be filtered by rental property, transaction type, vendor, or payer, ensuring all necessary details are easily accessible.
Avail provides insightful performance analysis for each rental property. Landlords can evaluate their expenses against their rental income, allowing for informed financial decisions. This feature is essential for understanding whether properties generate a positive cash flow or adjustments are needed.
In addition to its accounting capabilities, Avail offers a comprehensive income and expense tracker. This tool outlines each transaction’s date, type, category, payer, and total amount, making it straightforward for landlords to monitor their financial activities. The ability to upload receipts or invoices to each transaction enhances organization and record-keeping.
Avail Pros
Prioritizes the security and privacy of users’ data with 256-bit encryption and a monitored network, offering peace of mind when managing properties.
Users can list their properties for free on popular rental sites like Realtor.com, Apartments.com, and Redfin, increasing visibility and helping to find tenants quickly.
Offers a free plan for landlords with unlimited units, which includes features like syndicated listings, background screening, state-specific leases, and more.
Avail Cons
Tenants using credit or debit cards incur a 3.5% processing fee for payments, which may lead to dissatisfaction among renters who prefer more economical payment options.
Doesn’t offer accounting features to facilitate year-end reconciliation.
Software feels a bit outdated in terms of user experience.
Avail Pricing
| Plan | Price (per unit/month) | Ideal for |
|---|---|---|
| Unlimited | $0 | Users needing essential property management features. |
| Unlimited Plus | $9 | Property managers seeking enhanced lease customization and marketing. |
Features To Look For in Property Management Software
The following are the features to consider when looking for property management software.
- Tenant and Lease Management: This feature allows property managers to track tenant information, manage lease agreements, and monitor lease expiration dates. An effective tenant management system facilitates easy communication, ensures timely renewals, and maintains a comprehensive history of tenant interactions, which is crucial for addressing issues and improving tenant retention.
- Automated Rent Collection: Automated rent collection systems streamline the process of collecting rent payments by allowing tenants to pay online via various methods, such as credit/debit cards and ACH transfers. This reduces late payments and eliminates the hassle of manual collection, improving cash flow and tenant satisfaction.
- Maintenance Management: An essential maintenance management feature enables tenants to submit maintenance requests online, which property managers can track and prioritize. This ensures timely responses to maintenance issues, improves tenant satisfaction, and helps maintain property value through regular upkeep.
- Accounting and Financial Reporting: Integrated accounting tools simplify financial management by tracking income and expenses related to each property. Property managers can generate detailed financial reports, such as profit and loss statements and balance sheets, which provide valuable insights into their portfolios’ financial health and aid in budgeting and forecasting.
- Document Storage and Sharing: A secure document storage system allows property managers to store important documents, such as leases, tenant applications, and maintenance records, in one central location. This feature enhances organization and ensures that essential documents are easily accessible to management and tenants.
- Communication Tools: Ensure tools facilitate interactions between property managers and tenants. Features like built-in messaging systems, announcements, and notifications keep everyone informed about important updates, deadlines, and maintenance schedules, fostering a positive landlord-tenant relationship.
- Tenant and Owner Portals: Dedicated portals for tenants and property owners provide a user-friendly interface for accessing important information. Tenants can view their payment history, submit requests, and communicate with management, while owners can monitor property performance, financial reports, and maintenance activities, ensuring transparency and accountability.
- Mobile App Access: Mobile access is essential for property managers who are often on the go. A mobile app allows users to manage their properties, communicate with tenants, and handle maintenance requests from anywhere, enhancing flexibility and responsiveness in property management operations.
- Analytics and Reporting: Advanced analytics tools help property managers make data-driven decisions by providing insights into key performance indicators such as occupancy rates, rent collection efficiency, and maintenance response times. This feature enables managers to identify trends, optimize operations, and improve profitability.
What are the Benefits of Using Property Management Software
The benefits of using property management software are as follows.
- Automates Routine Tasks: Automate routine tasks such as rent collection, maintenance requests, and lease renewals — reducing the workload for property managers. Automation minimizes the risk of human error, ensures consistency in processes, and frees up time for managers to focus on strategic initiatives and tenant relations rather than mundane administrative tasks.
- Improves Tenant Communication: Effective communication is crucial in property management. Software solutions often include communication tools that facilitate seamless interaction between property managers and tenants. Features like messaging systems, automated notifications, and resident portals enable quick responses to tenant inquiries and concerns.
- Enhances Rent Collection: A major challenge for property managers is ensuring timely rent collection. Property management software simplifies this process by offering automated rent reminders, online payment options, and tracking features for overdue payments.
- Simplifies Accounting and Financial Reporting: Property management software integrates accounting functionalities that simplify financial management. Users can track income and expenses, generate financial reports, and manage budgets effortlessly. This capability gives property managers real-time insights into their financial health, enabling them to make informed decisions regarding pricing, expenses, and investment opportunities.
- Streamlines Maintenance Management: Maintenance issues can lead to tenant dissatisfaction if not handled swiftly. Property management software streamlines maintenance management by allowing tenants to submit requests online and track the status of their issues. This ensures that maintenance tasks are prioritized and addressed quickly.
- Compliance and Legal Support: Navigating the complex legal landscape of property management can be challenging. Property management software often includes compliance features that help managers stay informed about local laws, regulations, and best practices. This includes lease management tools that ensure tenant rights and landlord obligations compliance.
Common Challenges of Managing Properties Without Software
Common challenges in managing properties without software include late rent payments, time-consuming accounting, poor communication, and more.
- Manual Rent Collection and Late Payments: Relying on manual rent collection methods often leads to delays and inefficiencies. Property managers may struggle with tracking payments and reminding tenants about upcoming due dates. This can result in late payments, increased administrative workload, and financial strain on the property’s cash flow.
- Disorganized Tenant and Lease Tracking: Property managers may face challenges in keeping track of tenant information and lease agreements without software. This disorganization can lead to misplaced documents, forgotten lease renewals, and difficulty accessing essential tenant details. Such inefficiencies can hinder effective management and tenant satisfaction.
- Time-Consuming Accounting and Financial Management: Manual accounting processes are labor-intensive and prone to errors. Property managers may spend excessive time entering data, reconciling accounts, and generating financial reports. This reduces productivity and increases the risk of financial discrepancies, making it challenging to maintain accurate records.
- Poor Communication with Tenants and Owners: Communication can become inconsistent and scattered without property management accounting software. Managers might find it hard to respond quickly to tenant inquiries, which can frustrate tenants and leave them unsatisfied. Plus, keeping property owners updated on performance and any issues can be challenging, potentially risking a breakdown in relationships.
- Difficulty Scaling Property Management Operations: As property portfolios grow, managing multiple units manually becomes increasingly complex. Without software, scaling operations can result in overwhelmed staff, increased errors, and the inability to handle additional properties efficiently. This challenge can limit growth opportunities and strain resources.
- Compliance Issues and Missed Deadlines: Property managers must navigate various regulations and compliance requirements. Managers risk falling behind on essential tasks without software to track important deadlines and legal obligations, leading to fines and legal complications. Staying compliant becomes daunting, potentially jeopardizing the property management business’s reputation.
References
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1. Fortune Business Insight Property Management Software Report