A Comprehensive Review of the 11 Best Property Management Software

Managing a real estate business can be overwhelming, with numerous properties to keep track of, tenants to communicate with, and maintenance tasks to oversee. Property management software has become essential in streamlining operations, boosting efficiency for landlords and property managers, and improving customer satisfaction. With various property management software options available, property managers must choose the right software to fit their specific needs.

In this article, we’ll review the best property management software for 2023, highlighting its features, benefits, and drawbacks to help you make an informed decision. Whether you’re a landlord with a small portfolio of properties or a property manager overseeing a large number of units, this guide will provide you with the insights you need to find the perfect software solution to take your business to the next level.

What Is Rental Property Management Software?

Rental property management software is a technology solution to help landlords, real estate professionals, and property managers manage their rental properties more efficiently. This software offers a variety of features that enable landlords and property managers to perform tasks related to managing rental properties, including tenant screening, lease management, rent collection, maintenance management, and financial management.

The software provides a centralized tool for managing all aspects of property management, helping landlords and property managers streamline their operations, save time, and increase efficiency. It also provides features for communication with tenants and other stakeholders, such as online portals, mobile applications, and automated notifications, making it easier to manage rental properties and keep all parties informed of important updates.

Why is property management software essential for your business?

Property management software has become increasingly popular in recent years, and for a good reason. The software is designed to simplify the property management process by providing automated tools that help landlords and property managers perform their tasks more efficiently. Here are a few reasons why property management software is essential for your business:

Increased Efficiency:

Property management software provides a centralized system to store and manage property-related data, such as tenant information, maintenance records, and financial data. It eliminates the need for manual data entry, which can be time-consuming and prone to errors.

Cost-Effective:

Property management software can save money by reducing the need for additional staff to manage properties. You can save time and increase productivity with automated features like rent reminders and lease renewals.

Improved Communication:

Property management software can help you communicate with managing tenants, vendors, and other stakeholders more efficiently. Additional features like online portals and mobile applications provide tenants instant access to their accounts, enabling them to make rent payments, submit maintenance requests, and communicate with landlords or property managers.

Real-Time Data Access:

Property management software provides real-time access to data, allowing landlords and property managers to make informed decisions quickly. By having access to data such as rent collection rates, maintenance requests, and occupancy rates, you can identify trends and make decisions that help maximize revenue and profitability.

Here are the 11 Best property management software for 2023

If you run a property management business, you must have a system to manage your market properties efficiently. Property management software can streamline the entire process of managing properties for those looking for ways to make their lives easier. Here are some of the top property management software options available:

MRI Software

MRI Software is a company that provides real estate software applications and hosted solutions. The company’s offerings include a flexible technology platform and a cloud-based ecosystem that can meet the diverse needs of real estate owners, operators, occupiers, and investors. The company started in 1971 and now provides cloud-based software and an app for its clients. It has over 45,000 clients worldwide and over 300 partners, which speaks to the quality of its service.

The company’s flagship product is Platform X, a SaaS suite that simplifies and secures property data management. This suite offers access to a range of integrated modules. The software provides financial accounting, leasing, CRM support, tenant portals, reporting and analytics, and automated residential and commercial leasing.

MRI also offers other targeted solutions such as Investment Management for investment lifecycle management and MRI Horizon for commercial, retail, and residential property owners. MRI Horizon offers BI-powered insights into real estate portfolio performance and cross-browser access to graphical dashboards.

MRI Qube Property Management covers all aspects of property management, including sales and rentals. MRI FM for facilities management covers maintenance scheduling, work orders, contractor management, and contractor asset tracking. MRI Planet provides mobile app support for the FM process control tools included in MRI FM.

Why do we like it?

• Integration capabilities: interface with various third-party systems, including Microsoft Outlook, Microsoft Exchange, ERP systems, accounting packages, fire systems, ID card and access control, Voice over IP (VoIP), video surveillance, and other building systems.
• Asset tracking: MRI FM enables expense tracking of equipment and asset movements across properties, setting up preventative maintenance schedules and promptly reacting to incidents.
• Document management: MRI Paperless file management system for uploading and managing documents and providing secured access for authorized users.
• Marketing & Sales Automation: enables automated lead generation and sales cycle tracking, including automated email communications and lease task management.
• CRM includes tracking activities, contacts, and communications with prospects and tenants in one place.
• Mobile capabilities: includes mobile-friendly solutions for inspection and work order management on iOS, Android, and Windows devices.
• Support: provides access to online user guides, FAQs, training videos, webinars, and other resources, and a dedicated customer success team.
• Tenant Connect: Gives tenants access to their personal account information, view statements, pay rent, and submit service requests.
• MRI Workspeed: End-to-end real estate operations management application for iOS and Android, allowing service request creation, dispatch, and tracking.

Price:

• Request quote
• From $120 per month

Pros:

• Flexible platform to meet the needs of different stakeholders.
• Automates the leasing process
• Accessible portals for tenants and residents.
• Comprehensive facilities management features.
• Advanced reporting tools and analytics.
• Mobile access to information.

Cons:

• You need to contact the company to get a price quote.

Best for:

This tool is best suited to managing more extensive portfolios and can be purchased or installed as software as a service (SaaS).

User review:

I’ve been using MRI Software since I began working in commercial real estate. Their suite of products simplifies the management process, whether accounting, investment modeling, analytics, or property management. The investment management module is beneficial, and they have an excellent customer support team to answer any questions you may have. Highly recommend it!

Yardi Breeze

The Yardi Breeze software company was founded in 1984 to provide real estate industry software solutions. It is the perfect choice for you if you wish to benefit from advanced features that facilitate the use of your cloud-based property management software.

Yardi Breeze does not charge setup fees; with the less expensive residential plan, each unit costs $1 a month. Therefore, for all the features it offers, it’s an affordable property management solution. The basic package costs $100 per month for residential properties ($1 per unit) and $200 per month for managing commercial properties ($2 per unit). In addition, there is a Breeze Premier package with a $400 minimum price of $2 per unit per month.

Various features are available, including accounting software, rental applications, templates, addendums, maintenance requests, automated marketing, activity calendars with tasks, renters insurance, tenant communication options, workflow sheets, and outsourced payments. The features provide users a convenient way to manage their properties, tenants, and finances online.

A unique feature of Yardi Breeze is that screen tenants can attach photos directly to maintenance requests via their smart devices. The Yardi Breeze platform is fairly easy to use, but if you need assistance getting started, Yardi Breeze offers free training.

Why do we like it?

• Marketing & Leasing: You can produce reports and price sheets, run market surveys and assess trends using the built-in marketing modules.
• Rent Collection: automates rent processing and storage, automates late fees and rental discounts, and offers multiple payment options to residents.
• Accounting & Reporting: integrates with Yardi Voyager software, generates detailed property and financial reports, and provides customizable management dashboards.
• Onboarding & Resident Services: provides onboarding and tenant communication features, generates maintenance requests for residents and allows for self-service support with a library of FAQs and answers.
• Maintenance & Inspections: Regular maintenance and inspection tasks can be created and tracked with Yardi Breeze. These are tracked alongside routine maintenance and can be reported on.
• Security & Mobile Access: Breeze is built for mobile access and includes two-factor authentication for logging in and using the software. It provides security on data protection and privacy as well.

Price:

• Breeze: $1 per unit month
• Breeze Premier: $2 per unit per month

Pros:

• Easy to use and navigate.
• Low cost with no hardware requirements.
• Offers live support.
• Includes tenant screening, marketing, and automated communications features.
• It provides reporting and rent collection tools.

Cons:

• Deep customization of the reports is not possible.
• A steep learning curve is involved.
• Integrating third-party APIs can be challenging.

Best for:

Yardi Breeze is best for medium and small-sized real estate owners, managers, and rental operators who want a comprehensive yet easy-to-use property management platform.

User review:

Yardi Breeze has been a lifesaver for my small real estate business. The software is intuitive and user-friendly, and I can manage my properties from any device. The customer service is top-notch, and I can always rely on them to answer my questions or address any issues quickly. I highly recommend it!

DoorLoop

The Doorloop property management software helps real estate investors and managers manage their properties, tenants, leases, and vendors. The company was founded in 2019 and had its headquarters in Miami, Florida, in the United States of America. It offers its customers software that manages rental properties, screens tenants, collects rent, schedules maintenance, grows portfolios, and more. A single package contains several different programs.

It is easy to streamline your processes when you have just one login. DoorLoop incorporates an integrated CRM that tracks prospects, active tenants, all communications, renewals, and any other information needed to manage a successful rental business.

Some other important elements are custom reports, document storage, online advertising, and role-based access controls. Its accounting software allows managers to view financial data and collect rent using credit cards, automated clearing houses (ACH), and other methods.

Managers can keep track of work orders, receive maintenance requests, and list properties on a personalized website. It’s easy to automate everything with DoorLoop, from listing units to evicting renters. You can connect tens of thousands of apps to DoorLoop through its API and Zapier integration, making it one of the few systems with both.

Why do we like it?

• Marketing: Advertise portfolio on multiple listing channels, build a personalized website with business color and logo, and schedule virtual property tours. Collect and track prospects and renter information with a built-in CRM. 
• Tenant Screening: Perform background checks using industry-leading tenant screening services. Receive real-time notifications and automatic rejections based on user-specified criteria. 
• Electronic Leases: Create custom digital leases so applicants can sign documents remotely. Store digital media in a centralized library, including leases, files, and pictures. Depending on the basic price plan, document storage space varies. 
• Online Payment: Use RapidRent to accept debit cards, credit cards, and e-checks as forms of payment. You can send rent reminders, track individual payments, receive renewal notifications, and automate late payment penalties. There is 256-bit military-grade encryption on the payment processor, which is PCI-compliant. 
• Individual Portals: Tenants can use these sites to pay rent, request maintenance, and enroll in renter’s insurance. Portals allow owners to track property workflows, view documents, and check the distribution of payments.
• Renter’s Insurance: Provides insurance programs that protect property and simplify the process of replacing security deposits. 
• Maintenance & Suppliers: Manage maintenance requests in one centralized location. Track and manage supplier relationships for quick and accurate quoting and invoices.
• Accounting & Payments: Manage all payments, automate invoices, and generate real-time profit/loss reporting. Directly integrate with electronic payment processors for faster deposits.
• Reporting: Use custom reports to identify profit-making opportunities and drill down into specific areas. 

Price:

• Starter: $29.50
• Pro: $59.50
• Premium: $89.50

Pros:

• Supports tenant and rental payment management
• Provides comprehensive website design toolkit
• Includes customer relationship management (CRM) module
• Integration with online payment processing providers
• Building maintenance portal
• Assisted data migration services available
• Live and on-demand training sessions offered

Cons:

• DoorLoop does not currently offer an automated repair and maintenance request system.
• DoorLoop is expensive
• Customer support is less reliable than larger competitors.

Best for:

DoorLoop is best for real estate managers, landlords, and brokers looking for an all-in-one rental management software solution.

User review:

DoorLoop is a fantastic property management software that allows me to easily and quickly manage all my properties. It has an intuitive UI, making it a breeze to learn and use. The support provided by the company is excellent. They are always readily available when you need help. I can quickly track tenants and rental payments, analyze my data, and easily make decisions. Overall, I highly recommend DoorLoop for anyone managing multiple properties.

Buildium

Buildium was founded in 2002 by Michael Monteiro and Dimitris Georgakopoulos, who started their business renting out properties and realized they needed better software to manage them. Their company grew from zero customers in 2004 to 10,000 by 2014, winning awards and recognition.

Buildium property management software manages residential and association properties, including rent & payments, vacancies, maintenance cycles, and accounting. The property manager can manage their property business anytime, including at their office. Buildium’s rent cycle management features allow you to send automatic reminders, track tenant information and create reports on demand.

The Buildium tenant portal allows property managers to receive payments online from tenants. Its vacancy cycle management starts with syndicating vacancies to the company’s listing partners (Zillow, Trulia, Craigslist, etc.). It stores tenants’ information in its tenant database as soon as they fill out an application online.

Moreover, Buildium provides tenants with background checks for screening purposes. With Buildium’s resident portal, tenants can pay rent and submit maintenance requests online. The property manager can create work items from requests and assign them to maintenance managers or staff members. Several new features have been added to Buildium recently, including a resident center and a mobile application. Its tiered-priced plans do not require a contract or a start-up fee.

Why do we like it?

• Streamline Accounting: Automate rent payments and personal income tax filing. Track rents, deposits, and late fees with a fully integrated accounting system.
• Maintenance Tracking: Track repairs, schedule work orders, and coordinate with contractors with easy-to-setup maintenance tracking tools.
• Rent Collection & Automation: Streamline rent payments with automated payment plans and online payment portals. Run tenant background checks quickly and efficiently.
• Tenant Tracking and Reporting: Keep track of tenant information, leasing status, and much more. Generate comprehensive reports for analyzing past, present and future performance.
• Consolidate Marketing Efforts: Maximize online exposure across multiple channels for more efficient marketing. Take advantage of automated marketing campaigns, tenant reminders, and tracking management services.
• Lease Management: Maintain comprehensive records of tenants and leases in one location. Track lease renewals and assign tasks when leases approach expiration. Automate rent collection and create automated payment reminders.
• Tenant Screening: Screen all prospective tenants thoroughly with extensive background checks, credit scores, and reports. Always stay within legal boundaries, comply with state and federal regulations, and avoid costly disputes.
• Expedite Turnovers: Maintain properties by clearing rents, maintaining maintenance, and handling vacancies on time. Provide work orders to external vendors, assign associates to each task, and track their progress. 

Price:

• Essential: starting at $52/mo
• Growth: starting at $166/mo
• Premium: starting at $479/mo

Pros:

• Easy to use and intuitive interface for all users.
• Automated rent collection and tenant screening.
• Has responsive customer service
• Comprehensive analytics and reporting capabilities.
• Ability to manage multiple properties in one place.
• Mobile app for landlords on the go.

Cons:

• Limited customization options ds
• It does not support multi-currency.
• No dedicated customer support team.

Best for:

Buildium is best suited for small- to mid-size residential real estate companies, property management companies, and homeowners associations.

User review:

I recently started using Buildium as a property management system and have been delighted with the service. It has saved me a lot of time and is easy to understand and use. I can view various data from my portfolio of units, including tenant data, income and expenses, and any notes I need to take. The customer service team is also fantastic and very helpful in setting things up how I want them to be. Highly recommend!

SimplifyEm

SimplifyEm is a property management solution that assists property managers and landlords manage their properties more efficiently. Users can easily keep track of income and expenses for every property, charge fees online, collect payments, and communicate with tenants through tenant portals and notices. In 2006, SimplifyEm was founded to develop a real estate software solution that uses the latest UX and web technology.

Larger property managers and landlords can streamline a limited number of their day-to-day tasks by automating some. The automation center allows managers to automatically track expenses, calculate fees, collect payments, send late notices, and generate numerous reports. It significantly reduces the manual work required to manage their properties every month.

Using the task center, users can track and update repairs and work orders and see upcoming events. The tenants’ portals also allow them to make maintenance requests. It allows users to keep track of all interactions with tenants, owners, and vendors and attach all documents related to them.

Users of SimplifyEm can export transactions as spreadsheets or QuickBooks files and generate detailed reports. You can manage bank accounts, reconcile your accounts, and print checks with banking features.

Why do we like it?

• Rent Payment: SimplifyEm makes it easy for tenants to pay rent online with secure web portals, e-check, and credit card processing.
• Lease Management: Create and track your tenant’s lease details, such as payment schedules, security deposits, late payments, and rental terms.
• Property Accounting: SimplifyEM offers an automated audit-friendly module to track rental income and keep accounts of expenses. Audit-friendly statements, auto bank reconciliation, and batch payment scheduling make accounting easy and efficient.
• Maintenance Tracking: Schedule and track all maintenance activities, including vendors, payments, and communication.
• Financial Accounting: SimplifyEm offers a complete accounting solution to manage finances, track rent payments, customize tenant invoices, access and monitor outstanding balances, and more.
• Maintenance Scheduling: Organize routine inspections, address tenant requests, and locate any potential problems on a timely basis with the maintenance scheduling feature. 
• Vendor Management: Manage vendor contacts, track services and payments, generate reports, and automate work orders.
• Notifications & Reminders: Send bulk notices, emails, and text reminders to tenants for rent payments, inspections, and more.
• Mobile App Access: SimplifyEm is mobile responsive and accessible to property owners and tenants via iOS and Android apps.

Price:

• P10 is $25 / month
• P20 is $35 / month
• P30 is $45 / month
• P50 is $60 / month
• P75 is $75 / month
• P100 is $100/ month

Pros:

• Automates tenant management and lease tracking tasks.
• It Integrates with popular accounting solutions like QuickBooks and Excel.
• It offers powerful reporting and data export capabilities.
• Includes tools to capture tenant details, store lease agreements, and track deadlines.
• Allows property owners to send bulk notices and group emails easily.
• Provides secure online payment options and automated rent collection.
• Easy to use and suitable for small and mid-sized landlords.

Cons:

• The upper-pricing tiers may have higher prices.
• Integration may be difficult due to the need for an open API.
• No stand-alone app is available.

Best for:

SimplifyEm is best for small and mid-sized landlords and property managers who need easy-to-use software to manage their properties and tenants.

User review:

I have been using SimplifyEm for several months now and am delighted. It’s easy to use, the customer service is excellent, and it does exactly what I need it to. I can manage all of my tenants and their payments efficiently, and the reporting and invoicing are straightforward. Overall, I’m pleased with SimplifyEm, and I recommend it to other property owners.

Yardi

Yardi Voyager is a cloud-based property management and accounting system for residential and commercial properties. This software is for small and large portfolio real estate owners, and it’s mobile-friendly. In addition to property management, Yardi offers military, and student and affordable housing.

The Yardi Voyager software automates lease administration, management, recoveries, payment processing, tenant maintenance requests, lease renewal workflows, and more. The system integrates accounting and property management and includes role-based dashboards and real-time analytics.

The Yardi system also has analytics for commercial properties and portfolios. You can get real-time critical indicators for lease management, recovery reconciliations, and performance statistics. Yardi Voyager software also includes tools for financial reporting. The accounting system offers the ability to import general ledger transactions directly.

A management team can create custom reports every month, quarter, and year and do real-time comparisons and analyses of international accounting standards such as IFRS, GAAP, and IAS.

Why do we like it?

• Real-time Notifications: Yardi Voyager allows users to specify how deadlines are triggered and what tasks can be accessed from dashboards. Email notifications will ensure you don’t miss any important deadlines.
• Lease Administration: The platform enables users to manage their leases easily. It lets them quickly create leases online and track pending renewal dates and monthly payments in real time.
• Accounting Automation: Yardi Voyager offers automated accounting solutions such as budgeting, rent collection, reconciliation, and more. It helps users to streamline day-to-day activities, save time and improve their cash flow.
• Workflow Management: This feature allows users to customize workflows and access real-time progress updates easily.
• Property Management: This feature is a comprehensive property management solution that enables users to manage tenant screenings, transfers and evictions, lifecycle unit management, rental contracts, and more.
• Mobile App: This feature allows users to access their data and use the solution’s features anytime, anywhere, using a mobile device.
• Reporting & Dashboarding: Yardi Voyager offers automated reporting and custom dashboards that give users a real-time view of their vital data and the performance of their properties. It helps them make more informed decisions faster.
• Facilities & Maintenance Management: This feature allows users to create and manage work orders and preventive maintenance tasks.

Price:

Contact Yardi Systems. Yardi Systems can provide pricing information upon request.

Pros:

• It integrates with third-party applications.
• It provides multiple market-specific solutions.
• Offers a single database to access all relevant business information.
• Equipped with mobile apps to support mobile usage.
• It comes with powerful tools to enhance operational efficiency.
• Intuitive user interface.

Cons:

• Expensive compared to other property management software solutions.
• Lacks reporting customization.
• Document imaging is limited.
• Lack of API integration options.

Best for:

Yardi Voyager is best for commercial and multifamily residential property owners, managers, and staff who need a comprehensive, end-to-end solution with the robust functionality to manage and streamline their business operations.

User review:

I have been using Yardi Voyager for over a decade, and it’s been a great experience. The platform is easy to navigate, has a wide range of features, and provides useful analytics. We can easily access all information related to our properties and businesses from a single platform. The customer service is also very responsive and helpful. I highly recommend this platform for any real estate business!

Appfolio

The AppFolio company has been providing property management services to clients since 2006. It is the property management software they took the most pride in developing and continues to improve. Its platform now manages over six million units, and the company is listed on NASDAQ.

The AppFolio platform supports all types of units and offers a variety of features. It is an excellent option for landlords who need remote access to manage and grow their businesses. AppFolio offers two residential landlord plans, one for community associations and one for commercial landlords. Every plan has a minimum cost, but it varies by unit. The core plan costs $280 a month for residential landlords.

The AppFolio platform supports various property types, including residential properties, commercial properties, student housing, and community associations. AppFolio software is designed specifically for the kind of property you’re using. The package includes everything a landlord would need, such as accounting software, rent collection, maintenance requests, and marketing tools across multiple platforms. 

The software also includes advanced features like artificial intelligence-powered leasing assistants, professional websites for your properties, tenant screening, insurance tracking, online payments, maintenance contact centers, utility management, accounts payable automation, and tenant debt collection. 

Why do we like it?

• Scalability: With the help of AppFolio, residential and commercial property managers can scale easily without having to worry about migrating accounts. It helps them accommodate a growing tenant base without losing data.
• Owner and Tenant Portals: With both owner and tenant portals, owners can communicate with tenants in a user-friendly way. Renters can easily access common documents and manage their payments.
• Lease Agreements: AppFolio simplifies the leasing process by allowing users to create and sign digital documents. This helps users quickly turn around lease signings.
• Mobile Accessibility: AppFolio enables property managers to access their accounts anywhere. It brings convenience and increased productivity to their operations.
• Rental Market Analysis Tool: AppFolio provides property managers with insights into market trends and rents with its rental market analysis tool. It helps them make data-driven decisions about their rental pricing.
• Work Order Management: AppFolio enables users to generate, manage, and track work orders in one place. It improves efficiency and reduces the total processing time of tasks.
• Tenant Screening: AppFolio offers an integrated screening tool that helps users quickly and accurately process tenant applications. It streamlines the tenant screening process while reducing paperwork and manual data entry.

Price:

• Core: $1.40 per unit per month
• Plus: $3 per unit per month

Pros:

• Automates business processes, such as online applications and leases.
• Easily track maintenance requests and vacancies.
• Robust accounting and reporting functionality available.
• Industry-leading customer service and support.
• Fully mobile-optimized to manage properties and finances on the go.
• Rent comparison and liability to landlord insurance included.
• Customizable reports and search tools.

Cons:

• Limited customization options for websites
• Limited functionality on the mobile app
• Reporting can be difficult to use

Best for:

Property managers need an all-in-one mobile solution for marketing, automating, and managing their rental properties.

User review:

I can’t say enough great things about Appfolio. We have been using it for several years, and it has substantially increased the efficiency of managing our rentals. It is simple to navigate, and the customer service is outstanding. We highly recommend it!

Rent manager

Rent Manager is based in Ohio and sells software that manages real estate portfolios. The company is owned by London Computer Systems (LCS), founded in 1986. A trusted software provider in real estate for over 30 years, the company has firmly established itself as a leader in the industry.

The company’s multifamily good property management software provides self-contained solutions for all sizes of properties. The software’s tools will simplify your daily tasks while helping your business grow. It is an easy-to-use and flexible property management platform that can handle properties of any size. It offers comprehensive asset management, accounting capabilities, contact and work order management, and marketing solutions. 

It provides tools for tracking, managing, and resolving service issues, along with detailed reports about your finances. Rent Manager allows you to create an interactive and professional website if you’re trying to find new tenants or buyers. The platform is also mobile-friendly. Mobile apps let you accept payments, set up service inspections, enter work orders and take photos on the go.

Property managers can access the software on any device, but tenants can also sign leases and pay rent from any device, according to the company. A free trial is available if you want to see how the software works, but you’ll need to contact the company for pricing information.

Why do we like it?

• Financial Tracking & Reporting: In addition to budgeting and tracking income and expenses, Rent Manager offers powerful analytical and financial reporting tools to measure the performance of each property easily.
• Maintenance Requests: Users can set up maintenance requests. This feature saves time by streamlining the submission and tracking of repair requests. Maintenance requests can be assigned to contractors and vendors, ensuring the timely completion of repairs.
• Lease Management: The rent Manager makes it easy to draft, store, and manage tenant leases. Property managers can quickly find, review, and update leases.
• Mobile Compatibility: Rent Manager has an app that can be accessed from iOS, Android, and Windows devices. It allows landlords to access tenant information, complete paperwork, and track payments while they’re on the go.
• Central dashboard: Property managers can use the software to track and manage tenant maintenance requests. The software also comes with an integrated vendor system that you can use to outsource services when needed.
• Accounting: Property accounting software includes a comprehensive accounting toolkit that allows you to manage your finances efficiently. It contains accounts receivable/payable solutions, online payment, and direct deposit. You can also get detailed financial reports, giving you valuable business intelligence (BI).
• Prospect Manager: Prospect manager is a toolkit that enables CRM (customer relationship management). It streamlines the approval process by tracking potential renters, reviewing online applications, and signing documents with e-signature capabilities.
• Custom workflow: This program can be customized using the application programming interface (API). This tool enables you to automate tasks, generate reports, integrate with external applications, and program the backend to create automated tasks.

Price:

• Rent Manager Basic: $1.00 per unit/ per month
• Rent Manager Plus: $1.50 per unit/ per month
• Rent Manager Premium: $2.25 per unit/ per month

Pros:

• Quick and easy setup and intuitive user interface
• The comprehensive range of tools for property management, leasing, and financial tracking
• Mobile friendly, so you can easily access that information from anywhere
• Includes tenant portal for payments, lease signing, and tracking of payment history
• Ability to create websites for properties
• Affordable pricing options

Cons:

• It does not integrate with accounting software
• A few properties may find the minimum monthly fee too expensive
• Limited customer support and resources

Best for:

Property owners and managers are looking for easy-to-use property management software with comprehensive features.

User review:

Rent Manager is easily the most efficient and user-friendly PM software I’ve used! Not only is it easy to learn and navigate, but the features are comprehensive and tailored for landlords. Their customer service is also responsive, which is key when I have questions or need troubleshooting. Highly recommend this particular software to anyone looking for a PM solution!

Innago

Innago is a cloud-based property management platform for landlords with small and medium portfolios. The Innago app helps you manage leases, collect rent online, and collect signatures. Also, you can manage tenants in the system.

The landlord can collect rent via ACH or credit card. In addition, users can configure late fees and waive fees, set rents, and manage utility bills. The tenant receives reminder emails before rent is due when the rent is due, and if the rent is late. An Innago account includes invoice generation, late fees, and account deposits. It is also possible to track invoices. It is possible to support multiple bank accounts.

The eSignature tool allows tenants to sign lease agreements electronically. It is also possible for landlords to access documents remotely. Users can set up a rental amount, dates, and addendums through the built-in lease templates. It is also possible to add, delete, and sublet tenants. Users can contact individuals or entire properties through communication tools.

A subscription doesn’t require a contract, so landlords have no fees. Tenants and landlords can sign leases online. It is a legal, binding, and safe agreement. Innago can send landlord payments via ACH, credit card, or debit card within 24 to 48 hours. The Innago platform lets landlords run credit, criminal, and eviction checks to find the best tenants. It helps users resolve issues faster with Innago by eliminating long lines.

Why do we like it?

• Online Payments: Tenants can securely pay rent with cash, credit cards, debit cards, or ACH transfers; fees may apply. Implement a late fee policy, automate invoice generation, and implement payment reminders. You can automate tenants’ recurring rent payments by saving their usual payment details. 
• E-Leasing: Create unlimited electronic leases and send them to all parties for electronic signatures, accessible through mobile devices, to expedite the contracting process. The dashboard allows you to track each lease until the last e-signature is received. 
• Tenant Screening: Ask prospective tenants unique questions on custom application forms. Get instant access to each applicant’s criminal history, credit history, and eviction status using the vendor’s native screening engine. Screenings are available for a fee. 
• Maintenance Workflow: Tenants can submit maintenance tickets, descriptions, images, and videos. You can respond to maintenance requests anywhere and anytime using its mobile maintenance tools. 
• Tenant Management: Update rental rates, change lease dates, and communicate with tenants remotely. A self-service portal lets tenants view documents, pay rent, submit maintenance tickets, and interact with owners and managers. 
• Reporting: Create clean, dynamic reports and uncover actionable insights using unique filters and quick presets. Create reports in MS Excel or with any third-party financial program.

Price:

Free: $0 (no setup fee, no monthly fee and, no contract fee)

Pros:

• Free, cloud-based property management software
• Simple UI and 24/7 customer service
• No long-term commitments
• Comprehensive background checks
• Electronic agreements
• Multiple payment options, including ACH and Credit Cards

Cons:

• Integrating third-party software takes a lot of work.
• Unlike some competitors, there are no self-guided training services offered by the platform.

Best for:

Landlords with small and medium-sized businesses need easy-to-use, cloud-based property management software with excellent customer service.

User review:

I’ve been using Innago for about four months now, and I love it! I have a small business, and Innago has been incredibly helpful in managing my rental properties. The software is easy to use, and the customer service has been excellent. Even with my busy schedule, I can stay on top of my properties. I recommend it!

Hemlane

The Hemlane property management app is a cloud-based tool for small businesses. The solution’s key features include property marketing, applicant screening, lease tracking, rent collection, and maintenance coordination. The Hemlane platform allows users to market listings across more than 40 websites, track leads, set automatic late fees, store documents, coordinate maintenance, and communicate with tenants.

The Hemlane system serves as a unified solution for tenants, landlords, agents, and managers to ensure your property operations run smoothly. You can run your property business smoothly by keeping all the key users together on one page. With Hemlane’s leasing system, you can automate the entire leasing process, from selecting the right tenants to taking care of timely payments. It will ensure your tenants’ satisfaction.

Your agent can do this for you or enter the details on 30 top property rental websites. Rental listing websites will automatically direct prospective tenants to the rental listing websites for showings. Your rental listing website will also run credit and background checks. The Hemlane platform connects property owners with local realtors.

It provides an agent and manager network that handles everything from yearly inspections to rental showings. You can track maintenance requests from start to finish with this platform. It allows tenants to contact their landlords, pay rent, and request maintenance through Hemlane.

Why do we like it?

• Online rent payments: Hemlane supports direct rent transfers to the landlord’s bank account. Tenants can easily transfer amounts online via text, email, or credit or debit card.
• Leasing and rental agreements: Hemlane helps to create, sign easily, and store rental agreements and leasing contracts.
• Maintenance coordination: Hemlane helps coordinate maintenance tasks with photos, updates the status of repairs, and tracks contractor costs.
• Reporting and analytics: This feature allows for tracking income and expenses, setting custom alerts for overdue rent, monitoring cash flow and tenant payments, and accessing financial performance reports.
• Document storage and sharing: The secure document storage in Hemlane provides a safe place to store property- and tenant-specific documents. It can facilitate faster communication and the safe sharing of information.
• Listing management: The listing manager helps users to get their listings on more than 40 listing sites, optimize their listings, and has listing analytics to measure their performance.
• Tenant communication: Keep tenants informed right within the Hemlane property management system. Send automated notifications, emails, and text messages.

Price:

• Try 1 month free: $0;
• Basic plan: $30 per month
• Essential plan: $40 per month
• Complete plan: $60 per month

Pros:

• Comprehensive features that cover all aspects of property management
• Automatic rent collection, late fees, and tenant communication tools
• The streamlined tenant application process
• Cloud-based document storage
• Secure and organized document storage
• Robust marketing and listing feature
• Income and expense reporting
• Easy to use and user-friendly interface

Cons:

• Limited integrations with third-party applications
• Additional fees for some features
• Limited customer support services

Best for:

Hemlane is best for small property management businesses that need an efficient and easy-to-use solution for managing their property portfolios.

User review:

Hemlane has been a fantastic tool for us to use for our small business. We can easily keep track of our tenants and all the lease information and manage our rental properties. We also like that we can set up automatic payments with tenants and manage resident-related tasks. Hemlane makes our job a lot easier.

Manageamerica

ManageAmerica is a cloud-based property management software that helps landlords, property managers, and property owners to streamline their property management operations. One of its key features is the tenant management system that enables property managers and landlords to automate the tenant application process, conduct background checks, verify income, and sign lease agreements online.

ManageAmerica also offers an online rent collection system that allows tenants to pay rent online, which reduces the risk of missed or late payments. Another feature is the maintenance request management system, enabling tenants to submit maintenance requests online. Property managers can assign tasks to vendors, track progress and communicate with tenants about the status of the maintenance work.

Additionally, the software comes with accounting and financial management tools that help users to manage their property expenses, track rent collection, and generate reports for tax purposes. Overall, ManageAmerica is an all-in-one software solution that helps users save time, automate tasks, and improve communication with tenants, improving tenant satisfaction and retention.

Why do we like it?

• Prospect Screening & Resident Onboarding: ManageAmerica provides detailed resident screening and onboarding features, allowing users to quickly and efficiently process and manage the applications for prospective tenants and the post-approval paperwork.
• Tenant Services: ManageAmerica provides an integrated platform for prospective, current, and former tenant communications, which streamlines the operations process.
• Accounting & Billing: ManageAmerica efficiently manages the accounts receivable process with various options, from automatic tenant billing to custom reports to customizable invoices.
• Maintenance & Repairs: ManageAmerica effectively tracks maintenance requests, helps to coordinate vendors, manages contracts, sets up maintenance schedules, and more.
• Marketing & Leasing: ManageAmerica includes powerful tools to help users manage entire marketing campaigns from start to finish. It includes creating and managing dynamic ads, pricing and promotion optimization, prospect tracking, and more.
• Reporting & Business Analytics: Track your portfolio performance with comprehensive analytic and reporting tools. ManageAmerica’s dashboard displays property and tenant performance metrics, allowing owners/operators to assess and adjust goals quickly.
• Integrations: Leverage our growing integrations with third-party tools, like maintenance software and resident satisfaction tools.
• Customer Support: ManageAmerica provides around-the-clock support to help customers. Our staff is accessible via the phone, email, and live chat.
• Workforce & Staff Tracking: ManageAmerica’s workforce and staff tracking feature helps property owners and managers quickly review and approve timesheets, track hours worked, and compare costs associated with salaries and wages.

Price:

Prices are not given on the website. Request a Demo.

Pros:

• Robust accounts payable and receivable modules
• Automated workflows for all organizational stakeholders
• Real-time reporting and performance metrics
• Integrated leasing software advice
• Secure, encrypted user access and data storage
• User-friendly interface with numerous options for customization
• A closed system that offers reliable data protection

Cons:

• Limited customization options
• Lack of Live/Phone Support
• Limited third-party integrations

Best for:

ManageAmerica is best for owners and operators of all sizes looking for an end-to-end online property management and accounts receivable system.

User review:

I appreciate the end-to-end property management and accounts receivable system offered by ManageAmerica. It makes managing my real estate assets much easier and reduces time spent doing unnecessary data entry. The plans are very easy to use and offer various reports and tools to make them as efficient as possible. I highly recommend it!

FAQ’s

What are the advantages of using property management software?

Property management software’s benefits include increased efficiency, improved communication, better organization, easier access to data and reports, streamlined rent collection, faster maintenance requests, and more.

What features should I look for in property management software?

The features you should look for in property management software depend on your specific needs and goals. Some essential features include rent collection, lease management, maintenance tracking, accounting and financial reporting, tenant communication tools, and analytics and reporting.

How much does property management software cost?

The cost of property management software can vary depending on the provider and the specific features you need. Some software providers offer monthly or annual subscriptions, while others charge one-time installation and support fees.

Is property management software easy to use?

The ease of use of property management software can vary depending on the provider and the specific features you need. Some software providers offer user-friendly interfaces and intuitive workflows, while others may require more technical knowledge.

Can property management software integrate with other systems?

Many property management software providers offer integrations with other systems, such as accounting software, payment processors, and maintenance tracking tools. Be sure to check with your provider to see what integrations are available.

How can I choose the best property management software for my needs?

To choose the best property management software for your needs, consider your budget, the features you require, the ease of use, customer support, and any integrations you may need. Research multiple providers, read reviews, and ask for recommendations from other property managers to help make an informed decision.

Conclusion

Property management software has become essential for landlords, property managers, and real estate professionals. The best property management software offers a comprehensive suite of features, including online rent collection, maintenance requests, accounting and financial management, tenant screening, and more. It streamlines property management tasks, saves time and money, and improves communication between landlords and tenants.

The top property management software options in the market today are cloud-based, user-friendly, and offer mobile access. By leveraging technology, property managers can enhance their operations, increase tenant satisfaction, and boost profitability. Investing in the best property management software is a smart move for any property owner looking to streamline their business and stay competitive in the market.

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