For the past decades or so, property experts and managers have used emails, documents, and spreadsheets to stay on top of multiple tasks. These include recording inspection notes, staying law-compliant, and property advertising. However, doing all these simultaneously can be overwhelming and time-consuming. This is where property management software comes in.
Property management software is developed to help real estate managers improve their business operations. Its primary purpose is to reduce, eliminate, and automate repetitive tasks so that you can focus on more critical activities. In short, you can attract, screen, and manage tenants and address their needs effectively.
On top of that, property management software will help you personalize application and lease forms. You can add supplementary clauses besides basic information, such as name, lease amount, and address. But the question is which among the wide range of options in the market is the perfect fit for your real estate business?
This article will introduce you to some of the best property management software worth considering. Here are some of them:
1. Buildium
Buildium is one of the most influential property management software in today’s market. So, if you’re looking for an all-out software solution, look no further. Buildium has many features that’ll make your property management duties as easy as 1-2-3.
These functionalities will help you manage and track property expenses, maintenance, and vacancies. Its accounting suite is well-developed and includes a ledger, automatic reminders, and real-time reports. Also, there’s a portal for renters so that they can settle their payments online.
Regarding pricing, Buildium’s basic package starts at US $50 per month, including coverage for up to 150 units. It has more advanced packages to manage and support up to 5,000 units. If you want to see if it’s the right solution for your needs, you may apply for a 15-day free trial.
Aside from its native functions, Buildium offers easy integration with several real estate platforms. These include Apartments.com, HappyCo, Happy Inspector, PayNearMe, TransUnion, Zilla, and Zumper. With these integrations, your operations will improve further.
2. TurboTenant
TurboTenant functions are slightly different from other property management software on this list. Instead of you, the landlord, paying for the software, the expenses will be transferred to your tenants. You don’t have to spend even a single dime, even if you manage hundreds or thousands of units simultaneously.
Also, you don’t have to worry about this feature is a significant turn-off to your tenants as the cost is reasonable. Initially, there’ll be an application fee of US $45, similar to most apartment complexes. If they want to pay via credit card, TurboTenant will add an extra 3.49% charge, and they can opt to apply for an insurance fee, which usually starts at US $8.
You’ll have access to a range of handy features on the landlord panel. These features include automated listing, online screening, email lists, and others. Apart from these native functions, TurboTenant also allows you to integrate a few real estate software solutions, such as Rent.com, Meta, Craigslist, and others.
3. AppFolio
AppFolio is ideally developed for landlords who are managing multiple properties at the same time. Nevertheless, it can also be used by those growing their real estate business. In addition, it supports a wide range of units, from small homes to large apartment complexes. But above anything else, all of its services are a la carte.
You only need to settle the fixed fee per unit instead of paying charges for all-in-one services. Also, there won’t be tiered pricing nor any limit on the number of units you can manage. You can pay only for the features and functionalities you need. In short, it’s based on the principle, ‘you get what you pay for.’
To sign up, you’ll need to pay a one-time onboarding fee that costs US $400. After that, you’ll only need to pay the monthly unit charges. You may refer below for the detailed pricing.
- HOAs: US $0.80 monthly per unit
- Student Housing: US $1.40 monthly per unit
- Commercial Properties: US $1.50 monthly per unit
- Residential Properties: US $1.40 monthly per unit
Within its interface, you can access a myriad of property management features. These include creating professional websites, screening renters, obtaining insurance, and purchasing sales leads. Aside from those, you can also track the maintenance of your properties, collect debts, and even collect online payments.
4. Propertyware
Propertyware is ideally designed for the landlords of small houses fit for single families. Unlike other property management software mentioned in this article, it doesn’t have many features to showcase. Nonetheless, this is why it’s special compared with others.
Propertyware that has no features related to commercial properties will be much simpler to manage. Also, you can learn to use it in less than an hour. When it comes to units, the system can function perfectly, no matter how many units you handle.
Propertyware has three pricing packages: Basic, Plus, and Premium, costing US $1, US $1.50, and US $2.00 for every unit, respectively. Also, it’s worth noting that every plan has a minimum price per month:
- US $250 for the Basic package
- US $350 for the Plus package
- US $450 for the Premium package
The Basic package allows you to screen tenants, schedule maintenance, collect payments, run reports, and list vacant properties. The Plus plan performs it all but with additional inspection scheduling and digital signatures. The Premium package provides extra support for maintenance management.
The downside of using Propertyware is its inability to integrate with other software solutions. It can only integrate with DocuSign and Mail Merge. This isn’t much of a problem if you’re looking for an all-in-one property management tool. But if you’re currently using real estate solutions, such as Rent.com, sadly, you won’t be able to integrate them.
Final words
As you can see, many property management software solutions are available to meet your needs and execute your operations effectively. Some are designed for small or large properties, and different platforms offer fewer or more features. When choosing which software to use, it’s essential to find the right one that’s best suited for you and your real estate business. To help you with that, you may apply for a limited free trial before signing any agreement.
