Are you a property manager or a landlord who needs help running your business? If so, then you should try one of the 5 best property management software tools available in 2020. These programs can help you collect rent, generate vacancy listings, and manage maintenance requests. Thus, making your job easier, faster, and more efficient. They can even help you communicate with your tenants better. But what are property management software tools and where can you find them?
Property management software programs, also known as real estate property management software, are tools that are designed to put together all the work functions you need to manage your business operations. These can help you manage multiple properties and share your workload with a team. So whether you’re handling residential, industrial or commercial properties, you need a property management tool that can support lease administration, inventory tracking, facility management, billing, accounting, and more.
The good news is that these property software tools are already cloud-based services. Meaning, you can access them from anywhere you are and even have them on-the-go through your mobile phone. Now, since there are a lot of them out there, we understand that it can be challenging to find the right one.
To help you, we tried and tested several tools currently available today. Here are the 5 slickest property management software tools that can help you manage any type of real estate.
Here’s a smart and simple property management software that gives you complete control over your properties. It has an easy-to-use dashboard that allows you to keep tabs on every detail of your property and tenants. With it, you have access to maintenance cycles, finances, and accounting. It can also help you handle rent as it keeps track of leases and tenants, provides full general ledger accounting, on-demand reports, automatically collects rent, and remind late fees. You can even receive payments online through Buildium’s tenant portal.
Buildium offers a complete toolset to facilitate communication, report analysis, accounting, and more. You can also easily manage vacancies through its free marketing website and partners like Trulia, Zillow, Craiglist, and others. Buildium offers tenant screening services as well, saving you the trouble of doing background checks.
With Buildium, you can effortlessly manage your business online. You can sit anywhere in the world but still keep track of everything from tenant applications, payments and maintenance requests to property insurance. Moreover, it’s responsive and compatible with any type of device. And, it has portals designed for property and homeowners, residents, and board members. Thus, you can communicate easily with all the stakeholders involved.
Pricing: Depends on how many units you manage. There will be additional fees for electronic documents, tenant screening, and online payments.
TenantCloud has everything you need to make property management a breeze. It is equipped with an online payment feature, automatic invoicing, late fee reminders, and provides receipts. Through this software, you can also create agreements and do background checks with ease. Furthermore, you can chat and share files with your tenants.
The TenantCloud provides performance reports, making it easier for you to analyze profitability and oversee other important aspects of your property. It also offers maintenance requests which you can use to quickly assign to service professionals like pest control companies, carpenters, plumbers, and the like.
Simple and easy to use, TenantCloud has a single interface and a dashboard that you can customize according to your needs and preference. It is flexible and, most of all, it is affordable. You can even use it for FREE.
Pricing: The price goes higher for every additional service you select.
- Basic Plan (75 units and 512MB File Storage) is for free
- Standard Plan (Up to 150 units and 1GB File Storage) is $9 per month
- Advanced Plan (Up to 500 units and 10GB File Storage) for $35 per month
Here’s the perfect software for residential, commercial, apartment, student, and council property managers. It helps you manage your financial data and assets as well as attract new tenants. But more importantly, Appfolio allows you to track maintenance, communicate faster, and gives you access to business metrics. It also provides you with reports and statements.
With Appfolio, you can accept online rental applications and screen each of them, making sure that you only get credible tenants. Other features of this tool include collecting rent online, perform mobile inspections, and publish vacancy updates all over the internet. Your tenants can also submit maintenance requests, enabling you to resolve issues quicker.
Pricing: $250 minimum monthly fee. Prices go higher depending on services added and the number of units you manage.
- Community Associations – $0.80/unit/month
- Residential – $1.25/unit/month
- Student Housing – $1.25/unit/month
- Commercial – $1.50/unit/month
4. MRI Real Estate Software
MRI Real Estate Software is an easy-to-use tool that is trusted by thousands of enterprises. It helps investors and managers run their real-estate businesses. So if you’re managing residential, commercial, and student properties, this is the tool for you.
Some of the best MRI features include managing invoice and billing, expenses, insurance, lease, and tax. It also allows you to communicate with stakeholders, track maintenance, track rent, and calculate late fees.
Now, we recommend MRI for owners and managers who are handling multiple and large properties. It is aimed and designed more for corporate managers who are handling medium to large-scale real estate.
Pricing: You have to get in touch with MRI Real Estate to get an idea of how much you have to pay. This way, you’ll have a more personalized fee that matches your needs.
5. Property Vista
Property Vista is perfect for real estate and property management firms. It helps you track every aspect of your property, including rental payment collection, advertising, attracting new tenants, and many more.
Other features that can help you run your business more effectively are unit mobile inspections, maintenance requests, work order tracking, and purchase ordering system. It can also help you with billing and accounting as well as communicate better with your tenants.
Pricing: Onboarding fees are based on the size of your portfolio.
- Essential Plan ($250 minimum fee per month) – $1.25/unit/month
- Premium Plan ($400 minimum fee per month) – $2.00/unit/month
- Enterprise Plan – You need to contact Property Vista for a flexible pricing solution for your business.
You can now excel at your job and profession with any of the slickest property management software tools of 2020 and forget about the repetitive and time-consuming tasks. Make your life easier with these tools that can help file, alert, sort, and manage your property for you.