Technology has changed everything about business and how they are run and the housing industry is no exception. We are in the digital age where potential tenants and renters use online listings to find a home for themselves, but that is not the only way technology is changing the real estate game. Property management software is the modern way to run a property management business.
A good property management software automates important tasks related to accounting, leasing, tenant management, managing maintenance requests, and marketing your properties. It reduces costs and streamlines operations. Some property management software only focus on streamlining communications between landlords and tenants.
Without property management software, you put in a lot more time managing properties which requires more manual effort, overall wasting hours that could easily be saved for growing the company.
Finding the best property management software for your company and its unique needs can be a daunting and time-consuming task especially if you have no idea know where to start. Fortunately, we have already done the research for you.
We have listed some of the best and most popular real estate property management software for your convenience:
This property management software can help landlords list properties, screen potential tenants, and receive rental payments on one single dashboard. Cozy has also partnered with Apartments.com to provide small landlords with software that includes the latest online rental management tools and tenant screening reports.
What makes Cozy a great property management software is that it has customized listings which helps available properties stand out with a photo gallery, lease terms, amenities, and pet policies. All the listings on Cozy are syndicated on Doorsteps.com and Realtor.com reaching more relevant and qualified tenants faster.
Pricing for this property management software from Cozy is free for landlords, but tenants have to pay for features like tenant screening reports and credit card payments. Property management software Cozy also provides renters insurance for tenants for an average policy cost of about $20 per month.
Stessa’s main goal is to help both small and big landlords by making rental property finances simple by maximizing profits with the help of smart money management, automated income, and expense tracking, and customized reporting. Stessa is a property management software that will surely help landlords and property managers to maximize the performance of their rental properties.
This property management software is completely free to use and includes many features that help the leasing process go smoother and faster. Property management software Stessa does offer optional premium services for a fee, such as assisting with rent analysis, mortgage financing, and market research.
Stessa’s property management software has an app on both iOS and Android which makes it incredibly easy to track expenses on the go so that no deductions get overlooked.
LetHub provides an AI Leasing Platform to landlords and rental property managers. Their intelligent Leasing Assistant, River, responds to renter inquiries, pre-screens prospective tenants, and books tours, saving up to 75% of your time and your leasing team’s time. LetHub aims to help landlords and property managers grow their portfolio by automating communication between prospective renters and leasing agents.
This software it the best solution to automating time consuming tasks with AI while maintaining a human touch. You can manage your leasing team, listings, inquiries and more all in one place. You can generate and schedule property reports for owners and your team in seconds.
Even as a small landlord's tour bookings can get hectic and difficult to keep track of, with LetHub there is an incredible Calendar Sync feature that connects your calendar and gets tours booked around your availability. As a landlord you can set your own availability and connect your own calendar and with a larger property management company, each leasing agent can set individual availability. The best part is that you can integrate LetHub with your Property Management Software which allows to auto-sync your properties from your property management software and allow you or your team to manage all aspects of their properties from one place.
Pricing for this software is such that you can pay based on your portfolio, the monthly plan costs $1/unit and $0.85/unit for the annual plan, if neither of those meet your needs you can also pay as you go.
Rentec Direct is a property management software that focuses on helping out landlords and property managers with small portfolios. This property management software is best for small private landlords, property managers handling between 1 to 5000 properties and self-managed HOAs.
As a landlord with 10 properties or less Rentec Direct provides you with the option to choose a free software version, while this property management software and tenant screening services can also be utilized by owners with up to 5,000 units.
As for the pricing Rentec Pro for landlord's costs $35 per month, and Rentec PM which is designed for property managers costs $40 per month, each with an unlimited number of tenants and properties. Both options include online rent collection, maintenance requests, and accounting. Rentec Direct provides some of the best tenant screening which prices ranging from $7 to $15 per package, which includes nationwide criminal and sex offender searches, eviction searches, and a TransUnion credit report.
Tenant Cloud is an amazing property management software for landlords who want to manage their own properties. Including those landlords as well who own many investment properties but do not want to hire a property management company.
TenantCloud is one of the most secure property management software that prioritizes privacy and has great encryption. TenantCloud has several pricing options for its property management software which includes a free Basic plan for up to 75 units, a Standard $9 per month plan for up to 150 units, and an Advanced plan priced at $35 per month. Additional services provided by TenantCloud include tenant screening via TransUnion, a detailed rental report and market trend data, tenant insurance, and synchronization with QuickBooks online.
TenantCloud may be exactly what small landlords searching for a simple and easy free property management software solution are looking for. From online rental applications to tenant screening and maintenance requests, Tenant Cloud has everything you need to manage properties on your own.
SimplifyEm is a property management software aimed at small and mid-sized property managers and landlords. It offers the perfect balance of price and features, making it an amazing property management software choice for landlords that need help managing a few properties and don’t like to pay the high cost of other software plans.
The property management software offers property accounting, tenant management, lease tracking, bank reconciliation, and maintenance scheduling and vendor management. SimplifyEM has many advanced features and supports any number of units between one to 2,000. However it is best for a few properties because the costs can be as low as $20 per month when starting out with fewer than 10 properties.
Avail is one of the best property management software's overall. Designed specifically for landlords with less than 10 units in mind, this is an intuitive property management software app that helps to advertise vacant units, request rental applications and credit reports, sign leases and collect rent - all online.
Avail has some of the best features needed for each stage of the rental process, while also giving customization options to tailor it to one’s specific needs.
Every time a new rental listing is published on Avail they’ll post it on various sites across the Internet to help you find tenants quicker. The best part about this property management software is that it is absolutely free to use for as many properties as you need. However, the paid version of this software is also highly recommended which is just $5 per unit per month.
The paid software gives access to premium features like custom applications and leases, as well as next-day rent payments and no ACH transfer fees. Even at a larger scale it is the most affordable solution.
Propertyware provides a property management software aimed at single-family landlords and property managers with a portfolio of 250 homes or more. Even though this property management software is designed for slightly larger portfolios, the software itself is very easy to use because the focus is on single-family homes.
It provides every service a landlord needs including online rent collection, accounting, maintenance requests, vacant property marketing with leasing agents, marketing with listing syndication, tenant screening services, lead tracking and follow-up, and it even has a portal for vendors.
PropertyWare has multiple pricing tiers with pricing starting at $1 per month per unit with a $250 monthly minimum. For additional features, there are $1.50 and $2 per unit per month plans with a $350 and $450 monthly minimum.
ManageCasa is an automated property management software platform for property managers, associations, and landlords. On their main platform, landlords can easily streamline move-ins, handle digital lease agreements and run all of their important financial reports and easily share them with rental owners.
This all-in-one tenant portal lets landlords collect payments directly through the application, getting rid of the hassle of bank visits with handwritten checks. ManageCasa pricing starts at $10.00 per feature, per month. However, if you are unsure if this is the property management software for you there is a free trial that you can try.
AppFolio is an all-in-one property management software that is great for both landlords and property managers. It is not a property management software for smaller landlords but is a very popular choice amongst landlords with large rental portfolios. This software supports residential properties, commercial buildings, student housing, and community associations.
This property management software offers the best advanced features to control units remotely, and additional support and resources to grow your business and maximize its efficiency. With AppFolio you only pay for the features you use and pricing is $1.25 per unit per month for residential, $1.50 per unit for commercial, $0.80 per unit for HOA’s and $1.25 per unit for student housing.
While the per unit prices are cheap there is a catch, Appfolio has a minimum monthly fee of $250 which makes it best suitable for landlords and property managers with hundreds and thousands of units to manage.
In conclusion rental property management software is a great option that allows landlords and property managers with both small and large portfolios to manage their rental leasing processes. From lead generation to occupancy, payment, timely communication, and financial accounting and reporting. The many property management software specialize in different aspects and niches. Some property management software are better for small portfolios of single-family homes whereas others are more suited for a large mixed commercial portfolio.
It is essential to look for features that suit your portfolio and your property management company, but it Is also important to look for a property management software that can help your portfolio grow into what you expect it to evolve into in the future. There are a lot of questions to ask before you choose, will the property management software be able to help you grow, and if so, is it affordable while you’re still a small property management company?
On September 1, 2020 the Centers for Disease Control and Prevention (CDC) issued an Agency Order titled “Temporary Halt in Residential Evictions to Prevent the Further Spread of COVID-19” which finally expired on July 31, 2021.