In America, the property management industry generates around 88,4 billion dollars in annual revenue. That is why many property management software companies come to help landlords, investors & property managers stay organized for daily tenant communication & management and tax time. This kind of software is very helpful for attracting, screening & managing tenants. Besides, it also helps you to respond to their maintenance requests. In addition, it assists you to account for expenses & revenue that entails.
Best Rental Property Management Software to Use
- Buildium
This property management software created by property managers for property managers. Its comprehensive service lets property owners control all business aspects remotely. It is best for residential & association property managers.
Pros:
- A lot of training materials
- Online ticket support during business hours
- Automatic rent collection through a tenant portal
- Created by property managers for property managers
Cons:
- Not appropriate for single property managers
- Some customer support complaints
- Cheap pricing plans
property management software control anything from online rent payments, accounting, maintenance cycles, and vacancy management. It also streamlines the whole process of property management through accounting, leasing, business operations & community association management features. Besides, it facilitates the lead-to-rent collection cycle through on-demand reports, complete general ledger accounting, automated rent & fee reminders, and tenant & lease tracking. As the best option, it offers a free trial for 15 days. Then, the pricing plans start from 50 dollars/month for up to 150 units.
- TurboTenant
If you are looking for a free option, this is the best one for you.
Pros:
- 24/7 customer support via online & phone
- Excellent for DIY landlords
- Free regardless of the numbers of managed units
Cons:
- Limited advanced features
- Tenants must pay for it
This software is 100% free no matter how many units you manage. It is very straightforward to use with a simple setup & interface. While it is free for landlords, tenants should pay 35 to 45 dollars for application & screening, 3.49% from a credit card rent payment fee & an optional renter insurance monthly fee from 8 dollars. This software offers features to facilitate tenant management for landlords, such as sending bulk tenant messages from one inbox, creating dedicated listing pages, and managing app & screening tenants online.
- AppFolio
AppFolio is the best property management software for advanced features. It lets you remotely control your units. It also offers additional support & resources to develop your business as well as maximize its efficiency.
Pros:
- Available for a mobile app
- Supports any type of units
- Pay for the features you need & use only
Cons:
- Not suitable for a small number of properties
- Offers a minimum monthly fee
AppFolio doesn’t only support all kinds of units, but has also developed a la carte features a landlord will need to remotely operate & grow their business. This software is best for you who have multiple properties because it does not have tiered pricing but rather an onboarding fee & a monthly fee based on the numbers of units. This property management software supports multiple types of property, including community association, student housing, commercial buildings, and residential properties.