Handling a property is not an easy task, especially if you are a property manager. From keeping a record of all the transactions to maintaining inspection notes and tenant requests to scheduling and monitoring tasks, the list of responsibilities is quite long. Today, property managers can easily handle all these and more by investing in the right property management software.
Read on as we give you detailed information about what is property management software, and which are the 7 top property management software in 2021.
Table of Contents
What is a property management software?
A property management software is a comprehensive suite of tools which aid property managers to manage both residential as well as commercial properties with great ease. This software helps in streamlining and automating the day-to-day activities of property managers. It is a great tool which allows property managers to better organize their various properties, owners, tenants, accounts, and financials.
You can perform a wide range of functions with the help of this software, such as tenant screening, rental vacancy postings, online rental payments, digital signing of rental agreements, and more. Property managers have the option to choose between two different types of property management software –
- Installed software which means that you will need to install the software in your computer.
- Cloud software which means that you do not have to install the software and instead can be easily accessed from anywhere via mobile devices, web browsers, tablets, etc.
7 top property management software to use in 2021
Property management software are quite popular with each of them offering the basic features as well as some additional features. You must ensure that you choose the right software depending on your requirements. We have listed down the seven best property management software that you can use to streamline and automate your property manager responsibilities.
1. TenantCloud
TenantCloud is one of the best property management software for small landlords. This cloud-based software has all the required features for a landlord to manage all their properties on their own. From accessing financial reports to storing all your receipts to accepting payments online through different platforms to tenant screening to checking rental applications online, you can do a lot with TenantCloud. You can try their free trial option to check whether the software is satisfying all your requirements.
Features
Some of the key features of TenantCloud include –
- You can perform various accounting functions.
- Access to on-demand reports.
- Online rental agreements with e-signature.
- Online rent collection.
- One centralized location to manage all your accounts.
- Easy and effective tracking of renter insurance.
Key benefits
- Easy to use software for property managers as well as tenants.
- Direct collection of rent via the TenantCloud app.
Cons
- Better customer support is required.
- The payment tracking feature needs to be more streamlined.
Pricing plan
- Free trial
- Basic (Landlord/Tenant/ServicePro) – Free
- Standard (Landlord) – $7.50/month/billed annually
- Advanced (Landlord) – $29.17/month/billed annually
- Standard (ServicePro) – $35/month
2. Buildium
If you are looking for a commercial property management software, you should check out Buildium. This software is more ideal for property managers and property management companies. This is an all-in-one property management software which will definitely leave you impressed with its wide range of features. This is one of the best property management software in 2021 which offers powerful insights and analytics that help companies to become profitable and efficient.
Features
Buildium offers key features including –
- You can manage all your accounting and financials.
- Facilitates better and clear communication between owners and tenants.
- Storage and management of all lease and rent-related documents.
- Screening of tenants.
- Easy payment of rent through digital platforms.
- Is useful for various types of property including community associations, residential, affordable housing, and student housing.
Key benefits
- Buildium is compatible with mobile platforms and can be accessed by both owners and tenants.
- A dedicated resident portal which can be used by tenants to pay their rent.
Cons
- This property management software does not offer customization options.
- Difficulties in accessing the online tenant portal sometimes.
Pricing plan
- Free Trial
- Essential – Starting from $50/month
- Growth – Starting from $160/month
- Premium – Starting from $460/month
3. AppFolio Property Manager
AppFolio Property Manager is a cloud-based property management software that can be used by landlords as well as property managers. It is especially useful if you have multiple properties to manage as its wide range of features makes it really easy for you to manage all the properties efficiently and boost your profitability. This software supports multiple types of properties and offers features ranging from marketing to accounting to reporting leasing to maintenance.
Features
Some of the key features of AppFolio Property Manager include –
- Option for tenants to pay their rent online through e-cheque, card payments, or any other online payment portals.
- Owners can post their rental vacancies across various property sites.
- Access to a customizable portal which allows owners easy access to invoices, work orders, financial reports, etc.
- The premium plan allows users to create corporate websites which are mobile responsive as well.
- Supports multiple property types like student housing, community association, single-family and multifamily, etc.
- Aids in better communication between owners and tenants.
Key benefits
- The online portal of AppFolio Property Manager is quite useful for owners as well as tenants.
- The search feature comes in handy, especially for users who have multiple properties with different addresses.
Cons
- The mobile app has certain limitations because of which users don’t find it very convenient to use.
- The customer support team is one of the biggest disadvantages as they are either slow or completely unresponsive.
Pricing plan
- Residential
- Core – Minimum monthly fees: $280 for 50 units
- Plus – Minimum monthly fees: $1500 for 500 units
- Community Associations
- Core – Minimum monthly fees: $280 for 50 units
- Commercial
- Core – Minimum monthly fees: $280 for 50 units
- Plus – Minimum monthly fees: $1500 for 500 units
4. SimplifyEm
The next software on our list of top property management software is SimplifyEm. This feature-rich platform is a great tool that makes managing properties a breeze! This web-based solution is ideal for property management companies as well as small and medium-sized property managers. Apart from all the common features that you will find in an online property management software, you will find several other features as well in SimplifyEm, such as property management forms library, walk-through of rental property tax deductions, property management blog, and more!
Features
The key features of SimplifyEm include –
- Easy rent payment through online payment portals.
- SimplifyEm hosts a directory of landlords, property managers, and tenants.
- You can keep a track of various expenses, such as utilities, insurance, loans, parking fees, garbage collection, rent, laundry, etc.
- Access to communication history to avoid any type of confusion or conflict.
- Tenant screening.
- Detailed tracking of work order and maintenance requests.
Key benefits
- The online rental portal has an intuitive interface and is user-friendly.
- Amazing customer service.
Cons
- SimplifyEm does not offer any mobile app.
- There are few limitations with regards to customizing reports.
Pricing plan
- Free trial
- P10 – $25/month for 10 units
- P20 – $35/month for 20 units
- P30 – $45/month for 30 units
- P50 – $60/month for 50 units
- P75 – $75/month for 75 units
- P100 – $100/month for 100 units
- P100+ – Additional $8 for each extra 10 units/month
- P2000 – $1620/month for 2000 units
5. Rentec Direct
Rentec Direct is one of the best property management software for small landlords as well as property management companies. This web-based software is ideal for those who manage units anywhere between 25 to 5,000. One of the key USPs of this software is that it provides strong security standards which includes two-factor authentication, real-time secure data backup, and third-party security verifications. This is a scalable property management software which can be used as per your needs and requirements.
Features
Below are some of the key features of Rentec Direct –
- Detailed work order tracking.
- Rentec Direct offers file storage up to 1,000 MB.
- Users will get automatic reminders.
- With this software, property managers can send emails and texts to the tenants.
- You will be provided a free professional website through which you can promote your listings and company.
- Strong bank-grade security standards for protecting client data.
Key benefits
- Rentec Direct offers a good tenant screening feature.
- Rentec Direct is a comprehensive property management software which is quite user-friendly.
Cons
- Compared to some of the other top property management software, this software does not offer advanced features.
- There is no mobile app for property managers.
Pricing plan
- Free trial
- Rentec Pro – $35 per month
- Rentec PM – $40 per month
6. Propertyware
Propertyware offers a comprehensive suite of on-demand property management tools that are ideal for single-family and low-density rental units. This is a cloud-based, all-in-one software that enables property managers to take care of everything from accounting and financials to reporting to leasing to maintenance. Propertyware offers amazing customization features that allow property managers to automate various processes and create unique workflows. It also has a state-of-the-art data center which ensures that property managers do not have to worry about backup monitoring, diagnostic systems, and redundancy.
Features
Below are some of the key features of Propertyware –
- Access to all the required accounting tools.
- Both owners and tenants will have access to an online portal.
- Propertyware allows property managers to list their vacancies.
- It provides flexible payment options for the tenants.
- There are several maintenance tools available.
- Tenant screening to ensure that you are choosing the right tenants for your properties.
Key benefits
- Propertyware has a very user-friendly interface which makes it easy for the property managers and tenants to navigate the tool and use it as per their needs.
- Effective communication and easy sharing of information between owners and tenants.
Cons
- Sometimes the software can get confusing, especially when there is too much information on one tab.
- Compared to some of the other online property management software, Propertyware lacks when it comes to reporting features.
Pricing plan
- Basic – $1 per unit per month
- Plus – $1.50 per unit per month
- Premium – $2 per unit per month
7. ResMan
If you are a medium or large-sized enterprise in search of the best property management software, we recommend you check out ResMan. This scalable software is ideal for use by property owners, managers, and investors who particularly deal with multi-family properties. You can use this tool to streamline and automate a majority of your tasks, thereby enabling you to become efficient and profitable. ResMan is also compatible with mobile platforms which means that you can access it from anywhere and at any time. It offers all the required features of a property management software and comes equipped with top-of-the-line security features.
Features
Some of the key features of ResMan are –
- It facilitates better and enhanced coordination between property managers, staff, and tenants.
- Access to the management directory.
- Residents can be easily informed and updated about all the latest news and information.
- Easy tracking of work orders and maintenance requests.
- Better and effective management of resident accounts and leases.
- Accounting features which includes everything from general ledgers to accounts payable and receivable.
Key benefits
- ResMan provides top-notch accounting features which is one of its key USPs.
- This platform management software also offers a wide range of third-party integrations.
Cons
- There is no option to automate the vacancy listings.
- The setup of this software is more time-consuming than some of the other property management software.
Pricing plan
- Custom pricing
Conclusion
Whether you are responsible for managing a couple of units or hundreds and thousands of units, a property management software can make your life easier and definitely more productive. Before you choose any of these software, list down your requirements clearly. This will ensure that you invest in the right property management software.
You can check out more such useful software on SaaSworthy where you will find information about more than 40,000 software across 300 categories.
Also read:
• 7 Top Free and Open-Source Accounting Software to Use in 2021
